S Corporation Franchise Or Income Tax Return And Instructions For Form Tc20s Page 21
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32must be filed within three years following the date
Instructions for Return
the original return was filed. A return filed before the
due date is considered filed on the due date.
Corporation Name and Address Area
To amend a previously filed 2000 state tax return:
1. Check the amended box located at the top of
Enter the corporate name, address, and telephone
the return; and
number. Check the box provided if there has been
2. Indicate the reason for amending, by writing the
a change to this information since last year’s filing.
number in the box provided on the return.
EIN and Utah Charter Number
Reasons for Amending
Enter the Employer Identification Number (EIN)
1. You filed an amended return with the Internal
and Utah Incorporation/Qualification Number is-
Revenue Service (you must attach a copy of
sued by the Department of Commerce in the appro-
your amended federal return).
priate fields.
2. You made an error on your state return (attach
Filing Period
an explanation of the adjustments made).
3. Federal audit adjustments which resulted in
If the return is being filed for a period other than
changes in federal taxable income were issued
the calendar year ending Dec. 31, 2000 enter the
and became final (attach a copy of the IRS
beginning and ending filing dates.
adjustment).
Qualified Subchapter S Subsidiary
4. Other (please attach explanation to return).
Complete the return entering the figures as cor-
An S corporation that owns one or more qualified
rected. Enter other amounts shown on your original
subchapter S subsidiaries, as defined in IRC
return. If you received a refund on your original
Section 1361(b)3(B), must:
return, enter the total previous refunds on TC-20S,
•
Include each subsidiary’s assets, liabilities and
Schedule A, line 14c. If you paid with the original
items of income, loss and deductions as assets,
return or made subsequent payments of the tax
liabilities and items of income, loss and deduc-
prior to filing the amended return, enter the total
tions of the S corporation parent for Utah corpo-
previous payments on TC-20S Schedule A, line
ration franchise tax purposes. The qualified
15d.
subchapter S subsidiary shall not be treated as
Remember: Except for the amounts you amend,
a separate corporation.
the amounts you place on the return must match
•
Take into account the activities of the qualified
the amounts on your original return.
subchapter S subsidiaries in determining
Line 1(a) – Number of Resident and
whether the S corporation parent is doing busi-
Nonresident Shares
ness in Utah. For purpose of this determination,
Indicate number of resident and nonresident shares.
all of the subsidiary’s activities will be attributed
to the parent.
Line 1(b) – Percentage of Resident and
Nonresident Shares
•
File TC-20S, Schedule M identifying the quali-
fied subchapter S subsidiaries that are incorpo-
Indicate percentage of resident and nonresident
rated, qualified, or doing business in Utah.
shares.
Amended Returns for 2000
Line 2 – Corporations Conducting Business
in Utah
An amended state return for 2000 should be filed
Check box, if applicable.
promptly If you discover:
Line 3 – S Corporation Election
1. An error on your state or federal return after it
Check box, if applicable.
has been filed; or
Line 4 – Refund
2. Your federal return is audited or adjusted by the
From Schedule A, line 18.
IRS and the IRS audit or adjustment affects
Line 5 – Tax Due
your state return. You must report such changes
From Schedule A, line 19.
or corrected net income within 90 days of the
Line 6 – Total Penalties and Interest
IRS’s final determination.
Enter any applicable penalty and interest amounts
If you need to amend a return for a tax year other
on the appropriate lines. Enter the total amount in
than 2000, please use the tax form and instructions
the box. For help calculating penalties and interest,
for the year you are amending.
contact the Tax Commission at (801) 297-7790 or
To qualify for a refund or credit, an amended return
1-800-662-4335.
Page 3
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial