15-30-3325. Definitions. As used in 15-30-3326 through 15-30-3328 and this section, unless the context clearly indicates otherwise, the following definitions apply:

(1) "Electing pass-through entity" means a partnership or an S. corporation that elects to be subject to an entity tax.

(2) "Entity tax" means a tax that an electing pass-through entity elects to pay under 15-30-3325 through 15-30-3328 and this section.

(3) "Nonresident owner" means an individual, estate, or trust that is not a resident owner.

(4) "Owner" means a shareholder of an S. corporation or a partner in a partnership.

(5) "Resident owner" means an individual, estate, or trust owner that is a resident of the state.