Form Tc-20 - Corporation Franchise Or Income Tax - 2012 Page 20
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26Schedule E – Prepayments of
Any Type Instructions
Line 1 – Overpayment Applied from Prior Year
Line 3 – Other Prepayments
Enter the amount of any refund applied from the prior
List the date and amount of each prepayments made for
year to the current year’s tax liability.
the fi ling period. Enter the check number if a payment
was not made electronically. Enter the total amount on
Line 2 – Extension Prepayment
line 3. Attach additional pages, if necessary.
List the date and amount of any extension prepayment.
Line 4 – Total Prepayments
Enter the check number if a payment was not made
electronically.
Add lines 1, 2 and 3. Enter the total on this line and on
Schedule A, line 28.
Schedule H – Nonbusiness Income
Net of Expenses Instructions
Complete TC-20, Schedule H to determine nonbusiness
Gain or loss from the sale, exchange, or other dis-
income allocated to Utah and outside Utah. All income
position of real property or of tangible or intangible
that arises from the conduct of the trade or business
personal property constitutes business income if the
operations of a taxpayer is business income.
property while owned by the taxpayer was used in, or
was otherwise included in the property factor of the
Nonbusiness income means all income other than
taxpayer’s trade or business. See Tax Commission
business income and will be narrowly construed. In-
Rule R865-6F-8(2)(e)(ii).
tangible income must be properly classifi ed and based
upon factual evidence. The burden of proof is on the
Rental income from real and tangible property is
business income if the property with respect to which
taxpayer to justify the manner in which the income is
claimed on the return.
the rental income was received is or was used in the
taxpayer’s trade or business and therefore is includ-
Interest income is business income where the intan-
able in the property factor. See Tax Commission Rule
gible with respect to which the interest was received
R865-6F-8(2)(e)(i).
arises out of or was created in the regular course of
the taxpayer’s trade or business operations, or where
Complete Schedule H as follows:
the purpose for acquiring and holding the intangible is
• Complete lines 1a through 14 if you are claiming
an integral, functional, or operative component of the
only Utah nonbusiness income.
taxpayer’s trade or business operations, or otherwise
materially contributes to the production of business
• Complete lines 15a through 28 if you are claiming
income of the trade or business operations. See Tax
only non-Utah nonbusiness income.
Commission Rule R865-6F-8(2)(e)(iii).
• Complete lines 1a through 28 if you are claiming
Dividends are business income where the stock
both Utah and non-Utah nonbusiness income.
with respect to which the dividends were received
Use additional pages or supporting schedules in the
arose out of or was acquired in the regular course of
same format, if necessary, to provide complete informa-
the taxpayer’s trade or business operations or where
tion, including a description of the business purpose
the acquiring and holding of the stock is an integral,
for making the investment, the transactions creating
functional, or operative component of the taxpayer’s
the non-business income, and the use of revenues
trade or business operations, or otherwise materially
generated by the non-business investment.
contributes to the production of business income of
the trade or business operations. See Tax Commission
Rule R865-6F-8(2)(e)(iv).
Page 18
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