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equal to 4.95% of the taxpayer's net income for the taxable year. (2.1) For taxable years ending on or after December 31, 2026, a partnership making an election under this subsection may elect, in the manner prescribed by the Department, to determine the tax base for the purposes of this subsection under one of the following methods: (A) Full distributive share method. The electing partnership shall compute and pay tax on the full distributive share of net income allocable to each partner who is an Illinois resident, notwithstanding the apportionment provisions of Section 304. The apportioned business income shall be used solely for determining the tax due on behalf of nonresident partners. (B) Illinois-sourced income method. The electing partnership shall compute and pay tax only on that portion of each partner's distributive share of net income that is derived from or attributable to sources within this State, determined in accordance with Section 304 and the rules adopted under that Section. The election under this paragraph (2.1) shall be made annually and shall apply to all partners of the partnership for the taxable year. The method elected shall be irrevocable for that taxable year. The Department shall prescribe the manner and form of the election under this SB3019 Enrolled LRB104 20255 HLH 33706 b Public Act 104-0468