726.27.1. For the purposes of the definition of “qualified patronage dividend” in section 726.27, if a partnership receives, at any time before 1 January 2026, a patronage dividend allocated in the form of a preferred share, a taxpayer who is a member of the partnership at the end of the partnership’s fiscal period that includes that time is deemed to have received, at that time, and included, under section 795, in computing the taxpayer’s income for the year in which the fiscal period ends, the portion of the patronage dividend that is equal to the product obtained by multiplying the agreed proportion in respect of the taxpayer for the fiscal period by the patronage dividend received by the partnership.
2010, c. 25, s. 65; 2013, c. 10, s. 43; 2023, c. 22023, c. 2, s. 1811.