Form Tc-65 - Partnership/ Limited Liability Partnership/ Limited Liability Company - 2012 Page 4
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26Interest
The partnership may request a waiver of withholding
(in addition to penalties due)
tax and any associated penalty and interest for all or
Interest is assessed on underpayments from the due
selected partners who fi led and paid tax on the Utah
date until the liability is paid in full. The interest rate for
income from this partnership. The tax must be paid on
2013 calendar year is 2 percent.
or before the partnership’s return due date, including
extensions (see UC §59-10-1403.2(5)).
For more information, get Pub 58, Utah Interest and
Penalties, at tax.utah.gov/forms or by calling or writing
the Tax Commission.
Partnership Changes
Partnership changes (e.g., name change, physical and/
Rounding Off to
or mailing address changes, or ceasing to do business
Whole Dollar Amounts
in Utah) must be reported in writing to:
Master Records
Round off cents to the nearest whole dollar. Round down
Utah State Tax Commission
if cents are under 50 cents; round up if cents are 50 cents
210 N 1950 W
and above. Do not enter cents anywhere on the return.
SLC, UT 84134-3310
What to Attach and
To close related tax accounts (sales, withholding, etc.),
send a completed TC-69C, Notice of Change for a Tax
What to Keep
Account, to Master Records at the address above.
Include the following with your Utah TC-65. Also, keep
copies of these with your tax records.
Where to File
• Utah Partnership Return Schedules: Attach ap-
Send the completed return and any payment to:
plicable Utah schedules A, H, J, K, N, and/or TC-250.
Also attach the Utah Schedule K-1 for each partner.
Utah State Tax Commission
210 N 1950 W
Do not send a copy of your federal return, federal
SLC, UT 84134-0270
Schedules K-1, credit schedules, worksheets, or
other documentation with your Utah return, unless
You may also pay any tax due electronically at
otherwise stated in these instructions. Keep these
taxexpress.utah.gov.
in your fi les, along with all supporting documents. You
may be asked to provide this information later to verify
Due Date
entries on your Utah return.
A return must be fi led on or before the 15th day of the
fourth month following the close of the taxable year. If
Federal Taxable Income
the due date falls on a Saturday, Sunday or legal holiday,
(Loss)
the due date becomes the next business day.
Utah law defi nes federal taxable income as “taxable in-
Filing Extension
come as currently defi ned in Section 63, Internal Revenue
Code of 1986.” Since Utah’s taxable income is based on
Partnerships are automatically allowed an extension
federal taxable income, a partner’s ability to carry forward
of up to fi ve months to fi le a return without fi ling an
and carry back partnership losses is determined on the
extension form. This is an extension of time to fi le
federal level. The loss taken by a partner in a given year
the return - NOT an extension of time to pay taxes.
must match the loss taken on the federal return. Losses
To avoid penalty, the prepayment requirements must
cannot be independently carried back and carried forward
be met on or before the original return due date and
in any given year on the partner’s Utah return.
the return must be fi led within the fi ve-month exten-
sion period.
Utah Income
Note: All pass-through withholding tax from Schedule
Complete Schedule A to determine the Utah income or
N, column I must be paid by the original due date of
loss. If the partnership does business both within and
the return, without regard to extensions.
outside of Utah, the portion of the partnership income
attributable to Utah is determined by fi rst completing
Penalties
Schedule J, and then Schedule A.
Utah law (UC §59-1-401) provides penalties for
not fi ling tax returns by the due date, not paying
Business Income
tax due on time, not making suffi cient prepayment
Business income means income arising from transac-
on extension returns, and not filing information
tions and activity in the regular course of the taxpayer’s
returns or supporting schedules. Details of these
trade or business and includes income from tangible
penalties, along with additional penalties, are at
and intangible property if the acquisition, management,
tax.utah.gov/billing/penalties-interest and in Pub
and disposition of the property constitutes integral parts
58, Utah Interest and Penalty, at tax.utah.gov/forms.
of the taxpayer’s regular trade or business operations.
See UC §59-7-302(1)(d).
Page 2
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