Form It-20s Indiana S Corporation Income Tax Return 2005
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1
2Indiana Department of Revenue
Indiana S Corporation Income Tax Return
for Calendar Year Ending December 31, 2005
or Other Tax Year Beginning _________/________/2005 and Ending ________/________/ __________
AA
BB
.
.
.
.
MO
DA
YYYY
MO
DA
(Do not write above)
Form IT-20S
Federal Identification Number
State Form 10814 (R4/8-05)
A
Name of Corporation
Principal Business Activity Code
B
H
Number and Street
Indiana County or O.O.S.
Indiana Taxpayer Identification Number
I
C
D
City
State
Zip Code
Telephone Number
(
)
E
F
J
G
1
K. Date of incorporation
in the State of
P Check all that
Initial Return
2
Final Return
3
In Bankruptcy
1
2
L. State of commercial domicile
apply to entity:
4
Composite Return
Schedule M
5
M. Year of initial Indiana return
Q Number of non-Indiana resident shareholders?
N. Accounting method:
Cash
Accrual
3
Other
R Is an extension of time to file form attached?
1
Yes
2
No
1
2
O. Date of election as S corporation
S Did the corporation file as a C corporation for the prior tax period?
1
Yes
2
No
2
T Is this corporation a member of any partnerships?
1
Yes
No
Schedule A - S Corporation Adjusted Gross Income (See worksheet on page 15)
1. Total net income (loss) from U.S. S corporation return, Form 1120S Schedule K, lines 1 through line 10, less line 11
and a portion of line 12 related to investment income (see instructions) ....................................................................
1
2. Add backs: a) All state income taxes deducted on the federal return ..................................
2a
b) Net bonus depreciation allowance ............................................................
2b
c) Excess IRC Section 179 deduction ...........................................................
2c
d) Domestic production activities deduction (IRC Section 199) ................
2d
Deduct:
e) Interest on U.S. Government obligations ................................................
2e
Deduct:
f ) Indiana lottery prize money ....................................................................
2f
3. Total state modifications (add lines 2a through 2d subtract lines 2e and 2f) ..............................................................
3
4. Total S corporation income, as adjusted (add lines 1 and 3) ........................................................................................
4
5. Enter average percentage for Indiana apportioned adjusted gross income from IT-20S Schedule E line (4c) if completed
5
___ ___ . ___ ___ %
Schedule B - Excess Net Passive Income & Built-In Gains
6. Excessive net passive income tax as reported on federal Form 1120S, line 22 a .....................................................
6
7. Tax from federal Schedule D as reported on federal Form 1120S, line 22 b ..............................................................
7
8. Excess net passive income from federal worksheet ..................................................
8
2005
9. Built-in gains from federal Schedule D (1120S) ...........................................................
9
10. Add the amounts on lines 8 and 9 .................................................................................
10
IT-20S
11. Taxable income apportioned to Indiana (multiply line 10 by line 5) (if applicable) ......
11
12. Corporate adjusted gross income tax rate (*see instructions for line 13) .................
12
X .085*
13. Total income tax from Schedule B (multiply line 11 by percent on line 12 or enter amount from Schedule M) ......... 13
Summary of Calculations
14. Sales/use tax on purchases subject to use tax from Sales/Use Tax Worksheet (from page 15) ............................. 14
15. Total composite tax from completed Schedule IT-20COMP (D&E). Attach Schedule ................................................... 15
16. Total tax (add lines 13, 14, and 15) Caution: If line 16 is zero, see line 21 late file penalty ....................................
16
17. Total composite tax return credits (attach schedule and WH-18 statement(s) for composite members) ................. 17
18. Other payments/credits belonging to the corporation (attach documentation) ........................................................... 18
19 Subtotal (line 16 minus lines 17 and 18). If total is greater than zero, proceed to lines 20, 21, and 22 ....................
19
20. Interest: Enter total interest due; see instructions. (Contact the Department for current interest rate) .................... 20
21. Penalty: If paying late enter 10% of line 19, see instructions. If line 16 is zero, enter $10 per day filed past due date 21
22. Total Amount Due: Add lines 19 - 21. If less than zero, enter on line 23. Make check payable to: Indiana Department of Revenue
22
Make Payment in U.S. Funds
23. Overpayment: Line 17 plus line 18, minus lines 16, 20 and 21 ...................................
23
(Do not write below)
24. Refund: Amount from line 23 to be refunded. Enter as a positive figure ....................
24
Certification of Signatures and Authorization Section
30
I authorize the Department to discuss my return with my tax preparer.
Yes
DD
CC
Under penalties of perjury, I declare I have examined this return, including accompanying schedules and statements, and to the best of
my knowledge and belief it is true, correct and complete.
Corporation's e-mail address
EE
Signature of Corporate Officer
Date
Print or Type Name of Corporate Officer
Title
LL
MM
Print or Type Paid Preparer's Name
Preparer's FID, SSN, or PTIN Number Check Box:
1
Federal I.D. Number
OO
FF
NN
2
Social Security Number
Street Address
Daytime Telephone Number of Preparer
3
PTIN Number
PP
GG
City
State
Zip+4
Preparer's Signature
II
JJ
HH
Please mail to: Indiana Department of Revenue, 100 N. Senate Avenue, Indianapolis, Indiana 46204-2253.
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