Final answer:
Yes, the statement is generally true. Tax professionals in the U.S. are required to sign the state personal income tax return they prepare and include their identification number, typically a PTIN, to ensure accountability.
Step-by-step explanation:
The statement that the state personal income tax return shall include the signature and the board issued license number of the licensee who substantially prepared the return is generally true. In the context of the United States, tax professionals who charge a fee for preparing a tax return are often required to sign the return and include their Preparer Tax Identification Number (PTIN), which is a unique identifier issued by the IRS. This requirement enhances accountability and helps the IRS to track the tax return preparer's adherence to professional standards and tax laws.
Tax forms like the 1040 tax form are a critical part of fiscal policy and financial responsibility for both individuals and businesses. When changes are made to the U.S. tax code, they can have far-reaching impacts on the national economy, affecting both short-term and long-term financial landscapes.
It is also important to note that tax codes and requirements can vary by state; however, it is a common standard that those who prepare tax returns professionally should provide identifying information on the returns they prepare.