Form It-20s - Indiana S Corporation Income Tax Return - 2003
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1Indiana Department of Revenue
Indiana S Corporation Income Tax Return
for Calendar Year Ending December 31, 2003
or
Other Tax Year Beginning
AA
_________/________/2003 and Ending
BB
________/________/ __________
.
.
.
.
MO
DA
MO
DA
YYYY
(Do not write above)
Form IT-20S
Federal Identification Number
State Form 10814 (9-03)
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
K. Date of incorporation
in the State of
P. Check all that
Initial Return
Final Return
3
In Bankruptcy
1
1
2
2
4
L. State of commercial domicile
apply to entity:
Composite Return
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 attached?
Y e s
No
1
2
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
T. Is this corporation a member of any partnerships?
Yes
No
1
2
Schedule A - S Corporation Adjusted Gross Income (See worksheet on page 10)
1
1. Total net income (loss) from U.S. Corporation return, Form 1120S Schedule K, lines 1 through 6 less line 8 and 11b(2)
2. Add back: a) All state income taxes (taxes based on income deducted on the federal return)
2 a
b) Net bonus depreciation allowance .....................................................................
2b
Deduct:
c) Interest on U.S. Government obligations ........................................................
2c
Deduct:
d) Indiana lottery prize money ..............................................................................
2d
3. Total state modifications (line 2a and 2b minus lines 2c and 2d) ...............................................................................................
3
4. Total S corporation income, as adjusted (add lines 1 and 3) .......................................................................................................
4
___ ___ . ___ ___ %
5
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 & Built-In Gains
6
6. Excessive net passive income tax as reported on federal Form 1120S, line 22 a ......................................................................
7. Tax from federal Schedule D as reported on federal Form 1120S, line 22 b ...............................................................................
7
8
8. Excess net passive income from federal worksheet ................................................................
2003
9
9. Built-in gains from federal Schedule D (1120S) .......................................................................
1 0
10. Add the amounts on lines 8 and 9 .............................................................................................
IT-20S
11
11. Taxable income apportioned to Indiana (multiply line 10 by line 5) (if applicable) ..........
X .085
1 2
12. Corporate adjusted gross income tax rate .................................................................................
1 3
13. Total income tax from Schedule B (multiply line 11 by percent on line 12) .............................................................................
Summary of Calculations
1 4
14. Sales/use tax on purchases subject to use tax from Sales/Use Tax Worksheet (from page 10) .................................................
1 5
15. Total composite tax from completed Schedule IT-20COMP (D&E). Attach Schedule ............................................................
1 6
16. Total tax (add lines 13, 14, and 15) Caution: If line 16 is zero, see line 21 late file penalty ...............................................
1 7
17. Total composite tax return credits (attach schedule and WH-18 statement(s) for composite members) ..............................
1 8
18. Other credits belonging to the corporation (attach documentation) ...........................................................................................
1 9
1 9 Subtotal (line 16 minus lines 17 and 18). If total is greater than zero, proceed to lines 20, 21, and 22 ................................
2 0
20. Interest: Enter total interest due; see instructions. (Contact the Department for current interest rate) ...............................
2 1
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 .....
2 2
22. Total Amount Due:
Add lines 19, 20 and 21. If less than zero, enter on line 23. Make check payable to: Indiana Department of Revenue
23. Overpayment: Line 17 plus line 18, minus lines 16, 20 and 21 ............................................
Make Payment in U.S. Funds
2 3
24. Refund: Amount from line 23 to be refunded. Enter as a positive figure .............................
2 4
(Do not write below)
Certification of Signatures and Authorization Section
30
CC
I authorize the Department to discuss my return with my tax preparer.
Yes
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:
1
Federal I.D. Number
OO
FF
NN
2
Social Security Number
Street Address
Daytime Telephone Number of Preparer
PTIN Number
3
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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