Form It-20s - Indiana S Corporation Income Tax Return
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1Indiana Department of Revenue
Indiana S Corporation Income Tax Return
for Calendar Year Ending December 31, 2002
or
Other Tax Year Beginning
_________/________/2002 and Ending
________/________/ __________
AA
BB
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.
.
.
MO
DA
YYYY
MO
DA
(Do not write above)
Form IT-20S
Federal Identification Number
State Form 10814 (5-03)
A
Principal Business Activity Code
Name of Corporation
B
H
Indiana Taxpayer Identification Number
Number and Street
Indiana County or O.O.S.
I
C
D
Telephone Number
City
State
Zip Code
E
F
J
(
)
G
3
1
1
2
K. Date of incorporation
in the State of
2
P. Check all that
Initial Return
Final Return
In Bankruptcy
4
L. State of commercial domicile
apply to entity:
Composite Return
M. Year of initial Indiana return
Q. Number of non-Indiana resident shareholders?
3
1
2
N. Accounting method:
Cash
Accrual
Other
R. Is an extension of time to file attached? Yes
1
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?
Yes
No
1
2
T. Is this corporation a member of any partnerships?
Yes
No
Schedule A - S Corporation Adjusted Gross Income (See worksheet on page 10)
1. Total net income (loss) from U.S. Corporation return, Form 1120S Schedule K, lines 1 through 6 less line 8 and 11b(2)
1
2. Add back: a) All state income taxes (taxes based on income deducted on the federal return)
Also include special procedure adjustment (attach statement) ......................... 2a
Deduct:
b) Interest on U.S. Government Obligations ......................................................... 2b
Deduct:
c) Exempt Indiana lottery prize receipts .............................................................. 2c
3. Total state modifications (line 2a, minus lines 2b and 2c) .......................................................................................................... 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 .....
CONTINUE SCHEDULE A BY COMPLETING IT-20S IN K-1 (ON REVERSE SIDE)
Schedule B - Excess Net Passive Income, Capital Gains & Built-In Gains - IT-20S Summary of Calculations
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
9. Capital gains from federal Schedule D (1120S) ....................................................................... 9
2002/2003
10. Built-in gains from federal Schedule D (1120S) ...................................................................... 1 0
11. Add the amounts on lines 8, 9 and 10 ...................................................................................... 1 1
12. Taxable income apportioned to Indiana (multiply line 11 by line 5) (if applicable) ......... 1 2
IT-20S
13. Adjusted gross income tax (multiply line 12 by effective tax rate from Tax Rate Chart)
1 3
14. Supplemental net income (subtract line 13 from line 12) ............................................................. 1 4
15. Supplemental net income (multiply line 14 by effective tax rate from Tax Rate Chart) . 1 5
16. Total income tax from Schedule B (add lines 13 and 15 above) .................................................................................................. 1 6
17. Sales/use tax on purchases subject to use tax from Sales/Use Tax Worksheet (from page 10) ................................................ 1 7
18. Total composite tax from completed Schedule IT-20COMP (D&E). Attach Schedule ........................................................... 1 8
19. Total tax (add lines 16, 17, and 18) Caution: If line 19 is zero, see line 24 late file penalty ..............................................
20. Total composite tax return credits (attach schedule and WH-18 statement(s) for composite members ............................... 2 0
21. Other credits belonging to the corporation (attach documentation) .......................................................................................... 2 1
2 2 Subtotal (line 19 minus lines 20 and 21). If total is greater than zero, proceed to lines 23, 24, and 25 ..............................
23. Interest: Enter total interest due; see instructions. (Contact the Department for current interest rate) ............................ 2 3
24. Penalty: If paying late enter 10% of line 22, see instructions. If line 19 is zero, enter $10 per day filed past due date ... 2 4
25. Total Amount Due:
Add lines 22, 23 and 24. If less than zero, enter on line 26. Make check payable to:Indiana Department of Revenue
2 5
Make Payment in U.S. Funds
26. Overpayment: Line 20 plus line 21, minus lines 19, 23 and 24 ........................................ 2 6
(Do not write below)
27. Refund: Amount from line 26 to be refunded. Enter as a positive figure .......................... 2 7
30
I authorize the Department to discuss my return with my tax preparer.
Yes
CC
DD
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:
Federal I.D. Number
1
NN
OO
FF
Social Security Number
2
Street Address
Daytime Telephone Number of Preparer
3
PTIN Number
GG
PP
City
State
Zip+4
Preparer's Signature
HH
II
JJ
Please mail to: Indiana Department of Revenue, 100 N. Senate Avenue, Indianapolis, Indiana 46204-2253.
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