Instructions For Form Tc-20s - Utah S Corporation Tax Return - 2012 Page 3
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28General Instructions and Information
WhatÊs New
Master Records
Utah State Tax Commission
• Recycling Market Development Zone Credit. The
210 N 1950 W
Legislature has reinstated this credit for taxable
Salt Lake City, UT 84134-3310
years begining after Dec. 31, 2011. See page 16.
• Credit for Increasing Research Activities in Utah.
Dissolution or Withdrawal
The credit for qualifi ed research expenses incurred
Corporations that cease to do business in Utah must
in the taxable year has been reduced from 9.2% to
either dissolve or withdraw the corporation.
7.5%. See page 17.
Corporations incorporated in Utah must fi le Articles of
• Veteran Employment Tax Credit. A new nonrefund-
Dissolution with the Department of Commerce.
able credit is allowed for hiring a qualifi ed recently
deployed veteran. See page 17.
Corporations incorporated outside of Utah (foreign
corporations) must obtain a Certifi cate of Tax Clear-
• Apportionment Fraction for “Sales Factor
ance from the Tax Commission before withdrawing from
Weighted Taxpayers.” For tax years beginning in
Utah. Foreign corporations must fi le an Application for
2012, the calculation of the apportionment fraction
Withdrawal with the Department of Commerce.
on Schedule J has changed to weight the sales
factor 10 times for a business treated as a Sales
To request a Certifi cate of Tax Clearance, contact the
Factor Weighted Taxpayer. See page 11.
Tax Commission. We will prepare form TC-2001 and
send it to you to complete.
Reminders
Dissolving and withdrawing corporations must also
close their other Utah tax accounts (sales, withholding,
• TC-250: List all nonrefundable and refundable
etc.). To close related tax accounts, send a completed
credits received from an upper-tier pass-through
TC-69C, Notice of Change for a Tax Account, to Master
entity on a Utah Schedule K-1, as well as any min-
Records at the Tax Commission address above.
eral production withholding tax credit received on
a form TC-675R.
Rounding Off to
• Market Sourcing of Revenues from Performance
of Services by Multi-state Taxpayers: For tax years
Whole-dollar Amounts
beginning after 2008, corporations performing a
Round off cents to the nearest whole dollar. Round
service both in and outside Utah must calculate the
down if cents are under 50 cents; round up if cents are
sales factor numerator on Schedule J by consider-
50 cents and above. Do not enter cents anywhere
ing the service income to be in Utah if the buyer
on the return.
receives a greater benefi t of the service in Utah
than in any other state. See 12.
Pass-through Entity
Corporation
A pass-through entity is an entity whose income, gains,
Identification Numbers
losses, deductions and/or credits fl ow through to its
partners (parnerships), members (limited liability com-
Utah uses the Federal Employer Identifi cation Num-
panies), shareholders (S corporations) or benefi ciaries
ber (EIN) as the corporation’s identifi cation number
(estates and trusts) for federal tax purposes.
with the state. The Utah Department of Commerce
also issues a registration number upon incorporation
Pass-through Entity Taxpayer
or qualifi cation in Utah. Enter both the EIN and Utah
Incorporation/Qualifi cation number in the proper fi elds
A pass-through entity taxpayer is an entity which has
on page 1 of form TC-20S. These numbers are used
income, gains, losses, deductions and/or credits passed
for identifi cation of the corporate tax return and any
to it from a pass-through entity (e.g., an individual who
correspondence.
is a shareholder in an S corporation, or a partnership
which is a shareholder in an S corporation).
Corporation Changes
Liability for Filing
Corporation changes (e.g., name change, physical and/
or mailing address changes, merger, or ceasing to do
and Paying Returns
business in Utah) must be reported in writing to both:
Tax Forms
Division of Corporations
The Tax Commission does not mail forms for fi ling cor-
Department of Commerce
porate taxes. If the corporation does not use software
160 E 300 S
that provides the forms, you may obtain Utah forms by
PO Box 146705
downloading copies from the Tax Commission website
Salt Lake City, UT 84114-6705
at tax.utah.gov/forms or by calling the Forms Hotline
and
at 801-297-6700 or 1-800-662-4335, ext. 6700.
Page 1
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