Instructions For Form Tc-20s - Utah S Corporation Tax Return - 2012 Page 25
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28Pass-through Withholding Tax
Line H – Upper-tier Pass-through
Withholding Tax
Calculation Summary
Enter the amount of any pass-through entity withholding
The Utah withholding tax for shareholders who are
tax paid by an upper-tier (previous) pass-through entity,
pass-through entity taxpayers and for whom the waiver
attributable to this S corporation, and allocated to the
is not requested is calculated as follows:
pass-through entity taxpayer of this S corporation. The
credit for upper-tier pass-through entity withholding tax
1. Line E – Enter the income allocated to Utah for the
reduces the amount of Utah withholding tax calculated
shareholder.
for this shareholder on Schedule N. The credit should
2. Line F – Multiply the income on line E by the Utah
also be reported on line 20 of Schedule K-1 for this
tax rate of 5% (.05).
shareholder.
3. Line G – Enter any Utah mineral production with-
Line I –
Withholding Tax to be Paid
holding tax allocated to this shareholder and which
by This Corporation
is used to reduce the amount of Utah withholding
Subtract the total of the credits on lines G and H from
tax calculated.
the tax calculated on line F for each pass-through entity
4. Line H – Enter any previous Utah withholding tax
taxpayer. Do not enter an amount less than zero.
passed-through to this corporation by an upper-tier
The withholding tax shown in column I is the withhold-
pass-through entity and allocated to this shareholder,
ing tax this corporation must withhold or pay on behalf
and which is used to reduce the amount of Utah
of the pass-through entity taxpayer. This withholding
withholding tax calculated.
tax is to be reported on line 21 of Utah Schedule K-1
5. Line I – Enter the tax in column F less the sum of
given to the shareholder.
the allocated Utah mineral production withholding
This withholding tax is to be paid to the Tax Commis-
tax in column G and the upper-tier pass-through with-
sion by the original due date of the return. If the return
holding tax in column H. This is the pass-through
is being fi led on extension, this withholding tax must
withholding tax that must be paid by the corporation
be prepaid by the original due date.
on behalf of the shareholder. Do not enter an
amount less than zero.
Total Pass-through Entity Withholding
Add the pass-through withholding in column I for all
shareholders. Enter this total at the bottom of the
Schedule N and carry it over to Schedule A, line 14
and to Schedule K, line 21.
TC-250 – Credits Received from Upper-tier Pass-
through Entities and Mineral Production
Withholding Tax Credit on TC-675R Instructions
TC-250 is used to report Utah nonrefundable and re-
If additional lines are needed to report any category,
fundable tax credits allocated on a Utah Schedule K-1
you may use additional forms TC-250.
to this corporation by an upper-tier pass-through entity
Part 1 – Utah Nonrefundable Credits
in which this corporation owns an interest, as well as
mineral production withholding tax credits received on
Received from Other Pass-through
a form TC-675R.
Entities
TC-250 must be attached to your corporation return
Utah nonrefundable tax credits allocated to this
if the partnership received an allocation of nonre-
corporation by an upper-tier pass-through entity and
fundable and/or refundable credits from an upper-
shown on the Utah Schedule K-1 received from the
tier pass-through entity on a Utah Schedule K-1.
upper-tier pass-through entity must be reported in
Part 1. These credits are found on the Utah Schedule
Upper-tier Pass-through Entity. An upper-tier pass-
K-1 under nonrefundable credits with a credit code.
through entity is a pass-through entity in which this
Do not include the Utah Schedule K-1 the corpora-
corporation has an ownership interest and from whom
tion received showing these credits when fi ling this
this corporation receives an allocation of income, gain,
corporation’s return.
loss, deduction, or credit on a Utah Schedule K-1.
Page 23
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial