Looking for a Alabama Form Pte-c Templates? Download it for free!

Extension

LINE 3 – If the return is not filed on or before the due date, enter a failure to timely

file penalty (the greater of 10% of the amount of net tax due or $50). The tax due and

An extension of time for filing Form PTE-C is granted automatically. However, the

not paid by the original due date of the return will be subject to a failure to timely pay

extension of time for filing the return is not an extension of time for payment of tax.

penalty of 1% per month (for a maximum of 25%), which should be entered on line 3.

The amount of tax due must be paid on or before the due date of the return without

LINE 4 – Total amount of tax, interest, and penalty due. (Add lines 1 through 3)

regards to the extension of time to file the return. All calendar year PTE-C returns

LINE 5a – Enter the amount of overpayment as shown on the Form PTE-C return

have an extended due date of Sept. 15, 2012.

for the previous tax year.

Estimates

LINE 5b – Enter the total amount of estimated tax payments and automatic ex-

tension payments made for the tax year.

Estimate payments are not required by Alabama law. If you wish to make volun-

tary estimated payments, your payment should be submitted with Form BIT-V and

LINE 5c – Enter the amount of composite payments made on behalf of the entity

for the tax year. Please provide the name and FEIN of the entity making the compos-

payment type PTE-C should be checked.

ite payment(s) – if multiple payers please attach a listing to the return.

NOTE: Form PTE-C is no longer required to be submitted with an estimated payment.

LINE 5d – Enter the total amount of all payments/credits. (Add lines 5a through

5c.)

Payment of Tax

LINE 6 – Amount to be Remitted or (Overpayment)

The total tax liability on the calendar year composite return is due on or before April

Enter the amount to be remitted or overpayment by subtracting line 5d from line

17, 2012 for Subchapter K entities. The total tax liability on the calendar year com-

4. A positive amount represents an amount due. A negative amount represents an

posite return is due on or before March 15, 2012 for S corporations. For fiscal year

overpayment.

or short year taxpayers, the return is due on or before the 15th day of the 4th month

Form BIT-V must accompany the payment unless the payment is made electron-

following the close of the tax period for Subchapter K entities. For fiscal year or short

ically. Complete the indicator on the return if the payment is made electronically.

year taxpayers, the return is due on or before the 15th day of the 3rd month follow-

LINE 7a – Enter the amount of overpayment to be credited to the following tax

ing the close of the tax period for S corporations. Payments made after the original

year.

due date will be subject to interest and penalty charges. Make check or money order

LINE 7b – Enter the amount of overpayment to be refunded.

payable to: Alabama Department of Revenue. Write the Subchapter K entity’s/S cor-

PAGE 2 – Provide the requested information concerning the entity filing the com-

poration’s Federal Employer Identification Number (FEIN), Form PTE-C, and the tax

posite return if a partnership or LLC.

year on the payment and enclose Form BIT-V when payment is mailed.

Section 41-1-20, Code of Alabama 1975 requires the use of Electronic Funds

SCHEDULE PTE-CK1, LINES 1-11.

Transfer (EFT) for all single tax payments of $750 or more. Taxpayers must register

Schedule PTE-CK1 serves as the third page of Alabama Form PTE-C, and sum-

to use EFT and substantial penalties can be assessed for noncompliance. Call the

marizes the requested information concerning nonresident shareholders and own-

Alabama Department of Revenue EFT Hotline at (334) 242-0192 or 1-800-322-4106,

ers. Give complete information regarding each nonresident owner/shareholder as

option 7 for further information. Form BIT-V is not required when payment is made

requested in columns (A), (B), (C), (D), (E), (F), (G), and (H). Column (C) should in-

by EFT.

dicate one of the following: I = individual; T = trust; P = partnership, Ltd, LLC, LLP; S

= S corporation, E = Exempt Entity or C = C corporation.

CAUTION: Do not attach the Form PTE-C or the Form PTE-C payment to the Form

Column (E) should include the amount of each nonresident owner’s/shareholder’s

65/Form 20S or vice versa.

pro rata share of nonseparately stated income plus portfolio income allocated and

Signature

apportioned to Alabama as reported on Schedule K-1, Line M and Line Q. Column (E)

should not include separately stated items of loss, deduction or expense which are

The return must be signed by an authorized officer of the Subchapter K entity/S

subject to other limitations on the individual’s return. The pro rata share of these

corporation. Enter the date signed and the officer’s title. If the return is prepared by

items can only be taken on the nonresident tax form. If a nonresident owner/share-

someone other than an employee of the Subchapter K entity/S corporation, enter the

holder has a loss, do not include him/her on Form PTE-C unless the loss is used to

signature and identification information of the preparer.

offset guaranteed payment(s).

Specific Instructions

Column (F) should include the amount of each Subchapter K owner’s guaranteed

payments allocated and apportioned to Alabama. Column (G) should be the total of

At the top, right-hand corner, check the appropriate box indicating calendar year,

Columns (E) and (F). Column (H) should be the amount from Column (G) multiplied

fiscal year, or short-year. Fill in the blanks indicating the beginning and ending dates

by 5%.

of the tax period if the return is for a fiscal year or short period. Check the appropri-

If this report covers more than eleven (11) nonresident owners, attach additional

ate box indicating a Subchapter K entity or S corporation. Check the Qualified In-

pages providing the same information as requested on Schedule PTE-CK1. The to-

vestment Partnership box if the return is being filed for a Qualified Investment

tals from the additional pages of Schedule PTE-CK1 should be combined and re-

Partnership. Check the box if this return serves as an amendment. Enter the Federal

ported on line 13 of Schedule PTE-CK1.

Employer Identification Number (FEIN), Federal Business Code, name, and mailing

LINE 12 – Enter the totals from Page 3, columns (E) through (H).

address (with complete ZIP code) of the Subchapter K entity/S corporation. Enter

LINE 13 – Enter the total from any additional pages of PTE-CK1, columns (E)

the number of owners/shareholders, and number of nonresident owners/sharehold-

through (H).

ers included in composite return. Check the box if the address of the entity has

LINE 14 – Enter the totals columns (E) through (G), (lines 12 + 13).

changed since the last filing.

LINE 14H – Add lines 12 and 13, column H and enter here and on Page 1, line 1.

LINE 1 – Enter the total amount of tax due from Schedule PTE-CK1, page 3 of

PTE-C for every owner/shareholder.

Unless Schedule PTE-CK1 is attached, this return is considered incomplete.

LINE 2 – If payment is being remitted after the original due date of the return,

Note: For entities needing additional information about composite filing re-

compute interest on the late payment in accordance with Section 40-1-44, Code of

quirements for Affordable Rental Housing Developments please refer to

Alabama 1975, and enter the interest amounts in the applicable columns.

Form Pte-C Schedule Pte-Ck1 Instructions - Form Pte-C And Schedule Pte-Ck1 Nonresident Composite Payment Return - 2011 Page 2

Related Articles

Related forms

Related Categories