S Corporation Franchise Or Income Tax Return And Instructions For Form Tc20s (Page 18 of 32) in pdf

S Corporation Franchise Or Income Tax Return And Instructions For Form Tc20s Page 18

Table of Contents

General Instructions and Information .......................................................................................... 1

Instructions for Return ................................................................................................................ 3

Instructions for Schedule A – Utah Taxable Income and Tax Due ............................................... 5

Instructions for Schedule E - Prepayments of Any Type ............................................................. 6

Instructions for Schedule H – Nonbusiness Income Schedule ................................................... 7

Instructions for Schedule J – Apportionment Schedule .............................................................. 8

Instructions for Schedule N – Nonresident Tax Remittance Information ................................... 10

What’s New?

• Tax Credit For Increasing Research Activities: A nonrefundable credit is allowed for

expenses incurred for increasing qualified research activities in Utah. To see if you

qualify, see page 13.

• Tax Credit For Machinery And Equipment Used To Conduct Research: A nonrefundable

credit is allowed for machinery, equipment or both used primarily for conducting quali-

fied research or basic research in Utah. To see if you qualify, see page 13.

• Foreign taxes that were deducted on federal form 1120S, Schedule K, line 15(f) must be

added back in calculating net income on Utah Schedule A. See Schedule A instructions

for line 3.

• The Department of Commerce is re-issuing identification numbers for incorporation or

qualification in the state of Utah. Each new number issued will consist of 6 or 7 digits

followed by a 4-digit suffix. Enter the new identification number on all return forms where

requested. If you have not yet received notification of your new identification number,

enter your original 6-digit charter number.

• Use tax, in the amount of $400 or less, may be claimed on Line 7 of the return. If use tax

exceeds $400, the purchaser is required to obtain a sales and use tax license. See

instructions on Page 4.

File TC-20 if Corporation filed federal 1120

File TC-20S if S Corporation filed federal 1120S

If you need an accommodation under the Americans with Disabilities Act, contact the Tax Commission at

(801) 297-3811 or Telecommunications Device for the Deaf (TDD) (801) 297-3819. Please allow three

working days for a response.

S Corporation Franchise Or Income Tax Return And Instructions For Form Tc20s Page 18