Form It-65 - Indiana Partnership Return Booklet

Indiana sales/receipts

5000.00

Any payment made after the original due date must include penalty

and interest. Caution: The filing due date for the partnership return

Divided by everywhere sales/receipts

/41667.00

Equals

.1200

is different from the payment due date of income tax withholding

Multiplied by 100

x 100

and composite AGI tax on nonresident partners.

Equals Indiana apportionment percentage

12.00%

Amended Returns

Computations for Taxpayers A and B:

If the partnership files an amended federal return and the change(s)

Taxpayer A, as a resident of Indiana, must report his own entire

affects the Indiana income or the taxable income reportable by the

share of partnership income to Indiana regardless of whether the

partners, both the partnership and the partners must file amended

partnership apportions its income. As a general rule, if Taxpayer A

Indiana returns. They must do so within 180 days after the filing of

pays tax to another state (on a portion of partnership income), he can

the amended federal return.

take a credit on his individual return.

Adjustments made by the IRS affecting the reportable Indiana

Indiana adjusted partnership income for Taxpayer A is computed as

income must be followed with an amended partnership return.

follows:

This must be filed within 180 days after the adjustment becomes

Guaranteed payment

$10,000

final. Check the box at the top of Form IT-65 if you are filing an

Distributive share (50% x $65,000)

+ 32,500

amended return.

Indiana adjusted distributive share of income

$42,500

Instructions for Completing Form IT-65

Taxpayer B, as a nonresident of Indiana, reports only her own share

of partnership income and guaranteed payment apportioned to

Indiana. As a general rule, if Taxpayer B is required to pay tax to

Filing Period and Identification

another state on a portion of her income from ABC Company, she

File a 2013 partnership return for a tax year ending on

cannot take a credit on her Indiana return but must claim it from her

Dec. 31, 2013; a short tax year beginning and ending in 2013; or a

state of residence.

fiscal year beginning in 2013 and ending in 2014. For a fiscal or short

tax year, fill in both the beginning month, day, and year and the

Indiana adjusted partnership income for Taxpayer B is computed as

ending month, day, and year at the top of the form.

follows:

Guaranteed payment

$10,000

Identification Section

Distributive share (50% x 65,000)

+ 32,500

Total partnership share of income

$42,500

Check the box at the top of the form if you are filing an amended

Multiply by apportionment percentage

x 24%

return. For a name change, check the box at the top of the return.

Apportioned Indiana distributive share of

$10,200

You must enclose with the return copies of amended articles filed

income

with the Indiana Secretary of State.

Accounting Periods and Methods

The federal identification number shown in the box at the upper-

The accounting period for Form IT-65 and the method of accounting

right corner of the return must be accurate. It must also be the same

adopted must be the same as used for federal income tax purposes.

as what’s used on the U.S. Return of Partnership Income. Please use

the correct legal name of the partnership and its current mailing

address. List the name of the county in Indiana where you have a

Extended Filing Due Date

primary business location. Enter “O.O.S. ” in the county box D for

The initial due date for filing is the 15th day of the fourth month

an address outside Indiana. For foreign addresses, please note the

following the close of the partnership’s tax year. The department

following:

accepts the federal extension of time application (Form 7004) or

•

Be sure to enter the name of the city, town, or village in the

the federal electronic extension. If you have one, you do not need

box labeled City;

to contact the department prior to filing the annual return. Returns

•

Be sure to enter the name of the state or province in the box

postmarked within 30 days after the last date indicated on the federal

labeled State; and

extension form are considered timely filed.

•

Be sure to enter the postal code and the 2-digit country

code in the box labeled ZIP Code.

Do not file a separate copy of this form with the department to

request an Indiana extension. If applicable, enclose a copy of the

Enter your principal business activity code in the designated block

federal extension of time with the return when filing your state

of the return. Use the six-digit activity code as reported on the

return. Check box Q1 on the front of the IT-65 return.

federal tax return. This number is derived from the North American

Industry Classification System (NAICS). A link to a list of these

If a federal extension is not needed, a partnership can request a

codes is available on the department’s website at

separate Indiana extension of time to file by writing to:

Indiana Department of Revenue

Tax Administration

Questions K through S and Other Fill-in Lines

100 N. Senate Ave.

Indianapolis, IN 46204-2253

All corporations filing an Indiana corporation income tax return

must complete the top portion of the form. This includes questions K

through S. Check or complete all the boxes that apply to your return:

Form It-65 - Indiana Partnership Return Booklet - 2013 Page 8

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