Instructions For Form Tc-20s - Utah S Corporation Tax Return - 2012 Page 13
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28Lines 18a-18e –
Direct Related Expenses
Line 23 – Sum of Beginning and Ending
Describe and enter amounts of direct expenses on
Asset Values
the same letter line as the corresponding non-Utah
Add lines 21 and 22 for each respective column.
nonbusiness income listed on lines 15a through 15e.
Line 24 – Average Asset Value
Direct related expenses include wages, interest, de-
preciation, etc. (UC §59-7-101).
Divide line 23 by 2 for each column.
Line 19 – Total Direct Related Expenses
Line 25 – Non-Utah Nonbusiness Asset Ratio
Enter the sum of direct related expenses by adding
Divide line 24 column A by line 24 column B. Round the
lines 18a through 18e.
result to four decimal places. Do not enter a decimal
greater than 1.0000 and do not enter a negative number.
Line 20 – Non-Utah Nonbusiness Income Net of
Line 26 – Interest Expense
Direct Related Expenses
Enter the total amount of interest deducted on form
Subtract line 19 from line 17.
1120S, line 13 and elsewhere on the federal return.
Line 21 – Beginning-of-Year Assets
Line 27 – Indirect Related Expenses for Non-Utah
Enter in column A the total beginning-of-year value
of assets used to produce non-Utah nonbusiness
Nonbusiness Income
income from line 16, column C. Enter in column B the
Multiply line 26 by the ratio on line 25.
beginning-of-year value of your total assets. Include all
Line 28 – Total Non-Utah Nonbusiness Income
assets in column B, including Utah assets.
Net of Expenses
Line 22 – End-of-Year Assets
Subtract line 27 from line 20. Enter amount here and
Enter in column A the total end-of-year value of assets
on Schedule A, line 8.
used to produce non-Utah nonbusiness income from
line 16, column D. Enter in column B the end-of-year
value of your total assets. Include all assets in column
B, including Utah assets.
Schedule J – Apportionment
Schedule Instructions
Sales Factor Weighted
Use TC-20, Schedule J to calculate the portion of the
taxpayer’s income attributable to Utah, if the taxpayer
Taxpayers
does business both within and outside of Utah.
For tax years beginning after 2010, every multistate
Complete TC-20, Schedule J to determine the ap-
taxpayer must determine if they are a Sales Factor
portionment fraction (decimal). The factors express
Weighted Taxpayer. A sales factor weighted taxpayer
a ratio for tangible property in Utah to total tangible
is a taxpayer having greater than 50 percent of total
property everywhere, for wages and salaries in Utah to
sales everywhere generated by economic activities
total wages and salaries everywhere, and for sales in
performed by the taxpayer, and classifi ed in a NAICS
Utah to total sales everywhere. These factors or ratios
code of the 2002 or 2007 North American Industry
are used to arrive at the Utah apportionment fraction
Classifi cation System, except for a NAICS code within:
calculated to six decimals. This fraction (decimal) is
then applied to the apportionable income (or loss) on
• Section 21, Mining;
Schedule A to arrive at the amount of income (or loss)
• Section 31-33, Manufacturing;
apportioned to Utah. In cases where one or more of the
factors is omitted due to peculiar aspects of the busi-
• Section 48-49, Transportation and Warehousing;
ness operations, use the number of factors present to
• Section 51, Information (except for Subsector 519,
determine the Utah apportionment fraction.
Other Information Services); or
• Section 52, Finance and Insurance.
Page 11
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