Instructions For Form Tc-20s - Utah S Corporation Tax Return - 2012 Page 5
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28Where to File
What to Attach and
What to Keep
Send the completed return and any payment to:
Utah State Tax Commission
Include the following with your Utah TC-20S. Also, keep
210 N 1950 W
copies of these with your tax records.
Salt Lake City, UT 84134-0300
• Utah S Corporation Return Schedules: Attach
You may also pay any tax due electronically at
applicable Utah schedules A, E, H, J, K, M, N, and/
taxexpress.utah.gov.
or TC-250. Also attach a Utah Schedule K-1 for
each shareholder.
Due Date
• Federal Return: Attach only pages 1 through 4 of
A return must be fi led on or before the 15th day of the
your federal S corporation return, plus Schedule
fourth month following the close of the taxable year. If
M-3 and IRS form 1125-A, if applicable.
the due date falls on a Saturday, Sunday or legal holiday,
the due date becomes the next business day.
Do not send a copy of your entire federal return, fed-
eral Schedules K-1, credit schedules, worksheets, or
Filing Extension
other documentation with your Utah return unless
otherwise stated in these instructions. Keep these
Corporations are automatically allowed an extension
in your fi les, along with all supporting documents. You
of up to six months to fi le a return without fi ling an
may be asked to provide this information later to verify
extension form. This is an extension of time to fi le
entries on your Utah return.
the return - NOT an extension of time to pay taxes.
To avoid penalty, the prepayment requirements must
be met on or before the original return due date and
Federal Taxable Income
the return must be fi led within the six-month extension
(Loss)
period.
Utah law defi nes federal taxable income as “taxable
Note: All pass-through withholding tax from Schedule
income as currently defi ned in Section 63, Internal
N, column I must be paid by the original due date of the
Revenue Code of 1986.” Since Utah’s taxable income is
return, without regard to extensions.
based on federal taxable income, a shareholder’s ability
to carry forward and carry back corporation losses is
Penalties
determined on the federal level. The loss taken by a
shareholder in a given year must match the loss taken
Utah law (UC §59-1-401) provides penalties for
on the federal return. Losses cannot be independently
not fi ling tax returns by the due date, not paying
carried back and carried forward in any given year on
tax due on time, not making suffi cient prepayment
the shareholder’s Utah return.
on extension returns, and not filing information
returns or supporting schedules. Details of these
Utah Income
penalties, along with additional penalties, are at
tax.utah.gov/billing/penalties-interest and in Pub
Complete Schedule A to determine the Utah income or
58, Utah Interest and Penalties, at tax.utah.gov/forms.
loss. If the corporation does business both within and
The Tax Commission will calculate the penalty for
outside of Utah, the portion of the corporation income
underpayment of required prepayments.
attributable to Utah is determined by fi rst completing
Schedule J, and then Schedule A.
Interest
(in addition to penalties due)
Business Income
Interest is assessed on underpayments from the due
date until the liability is paid in full. The interest rate for
Business income means income arising from transac-
the 2013 calendar year is 2 percent.
tions and activity in the regular course of the taxpayer’s
trade or business and includes income from tangible
For more information, get Pub 58, Utah Interest and
and intangible property if the acquisition, management,
Penalties, at tax.utah.gov/forms or by calling or writing
and disposition of the property constitutes integral parts
the Tax Commission.
of the taxpayer’s regular trade or business operations.
See UC §59-7-302(1)(d).
Suspension for Failure
Business income apportioned to Utah is subject to the
to Pay Tax Due
pass-through entity withholding requirements.
Utah law provides for suspension of a corporation’s
right to do business in Utah if it fails to pay taxes due
Nonbusiness Income
before 5:00 p.m. on the last day of the 11th month after
Nonbusiness income means all income other than
the due date.
business income. See UC §59-7-302(1)(h).
If a corporation owes tax and is unable to pay the en-
tire amount owed, the corporation may complete form
TC-804B, Business Tax Payment Agreement Request,
available at tax.utah.gov/forms.
Page 3
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