Form Tc-20l - Utah Application For Refund From A Corporation Loss Carryback - 2010 Page 4
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14. Taxable Income of Second Prior Taxable Year
25. Tax
Enter the taxable income from the second prior taxable year as
Multiply line 24 (adjusted taxable income) by 5% (.05). Do not
filed, amended or audited. Enter only if the year showed a gain;
enter an amount less than the $100 minimum tax. The minimum
otherwise, enter zero.
tax on a combined return is $100 per corporation shown on
Schedule M for the first prior taxable year.
15. Loss Carryback
26. Tax on First Prior Taxable Year Return
Enter the lesser of line 12 (loss remaining) or line 14 (taxable
income).
Enter the tax previously paid on the return for the first prior
taxable year as filed, amended or audited.
16. Adjusted Taxable Income
27. Refund for First Prior Taxable Year
Subtract line 15 (allowable loss carryback) from line 14 (taxable
income). Do not enter an amount less than zero.
Subtract line 25 (recomputed tax) from line 26 (previous tax).
This is the loss carryback refund for the first prior taxable year.
17. Tax
28. Loss Remaining
Multiply line 16 (adjusted taxable income) by 5% (.05). Do not
enter an amount less than the $100 minimum tax. The minimum
Subtract line 23 (allowable loss carried back to the first prior
tax on a combined return is $100 per corporation shown on
taxable year) from line 20 (remaining loss carryback). This is the
Schedule M for the second prior taxable year.
remaining loss to be carried forward.
18. Tax on Second Prior Taxable Year Return
Loss Carryforward
Enter the tax previously paid on the return for the second prior
taxable year as filed, amended or audited.
29. Loss Exceeding $1,000,000
Enter the original loss shown on line 3 that exceeded
19. Refund for Second Prior Taxable Year
$1,000,000. This amount was not allowed to be carried back.
Subtract line 17 (recomputed tax) from line 18 (previous tax).
This is the loss carryback refund for the second prior taxable
30. Total Loss to Carry Forward
year.
Add lines 28 and 29. This is the loss available to be carried
forward.
20. Loss Remaining
Subtract line 15 (allowable loss carried back to the second prior
taxable year) from line 12 (remaining loss carryback). This is the
Important Note –
remaining loss to be carried to the first prior taxable year.
Nonrefundable Credits
First Prior Taxable Year
If you claimed a nonrefundable credit in any of the three carry-
back years, the loss carryback may reduce or eliminate the
21. Taxable Year End of First Prior Taxable Year
credit. You may be able to carry back or forward the credit to
other years. You must amend the applicable return after applica-
Enter the end date for the first prior taxable year to the taxable
tion of the loss carryback to claim any reduced nonrefundable
loss year in mm/dd/yyyy format (for example, enter Dec. 31,
credit that results from the carryback loss.
2010 as 12/31/2010).
22. Taxable Income of First Prior Taxable Year
Where to File
Enter the taxable income from the first prior taxable year as filed,
amended or audited. Enter only if the taxable year showed a
Utah State Tax Commission
gain; otherwise, enter zero.
210 N 1950 W
Salt Lake City, UT 84134-0300
23. Loss Carryback
Do NOT attach this TC-20L to your corporation return.
Enter the lesser of line 20 (loss remaining) or line 22 (taxable
income).
Questions
24. Adjusted Taxable Income
Subtract line 23 (allowable loss carryback) from line 22 (taxable
Call Taxpayer Services at 801-297-2200, or if outside the Salt
income). Do not enter an amount less than zero.
Lake area 1-800-662-4335, if you need assistance in completing
this form
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