2004 Form Tc-20 Utah Corporation Franchise Or Income Tax Return And Instructions (Page 2 of 19) in pdf

TC-20 General Instructions and Information

Corporation Identification

Liability for Filing

Numbers

and Paying Returns

Tax Forms

The Utah State Tax Commission uses the Federal

Employer Identification Number (EIN) as the

The Tax Commission does not mail returns for filing

corporation’s taxpayer identification with the state. The

corporate taxes to corporations registered with the

Utah Department of Commerce also issues a registra-

state. If the corporation does not use software that

tion number upon incorporation or qualification in Utah.

provides the forms, you may obtain Utah forms by

Enter both the EIN and Utah Incorporation/Qualification

downloading copies from the Tax Commission website

number in the fields provided. These numbers are used

at tax.utah.gov or by calling the Forms Hotline at (801)

for proper identification of the corporate tax return and

297-6700 or 1-800-662-4335, ext. 6700.

any correspondence.

NOTE: Review “Supporting Federal Information” later

in these general instructions to identify what federal

Corporation Changes

information is required with the Utah return.

Corporation changes (e.g., name change, physical and/

Franchise Tax

or mailing address changes, merger, or ceasing to do

Every C corporation incorporated in Utah (domestic),

business in Utah) must be reported to both:

qualified in Utah (foreign), or doing business in Utah,

whether qualified or not, must file a corporate franchise

Division of Corporations

tax return. C corporation returns are filed on form TC-

Department of Commerce

20. There is a minimum tax (privilege tax) of $100 on

160 E 300 S

every corporation that files form TC-20, regardless of

Salt Lake City, UT 84145

whether the corporation exercises its right to do busi-

and:

ness.

Master File Maintenance

S Corporation

Utah State Tax Commission

210 N 1950 W

Every S corporation (as defined in IRC Section 1361(a))

Salt Lake City, UT 84134-3310

that has filed a proper and timely election under IRC

Section 1362(a) must file form TC-20S, so long as the

federal election remains in effect. The minimum tax

Dissolution or Withdrawal

does not apply to S corporations.

Corporations that cease to do business in Utah must

Income Tax

either dissolve or withdraw the corporation.

The only corporations required to file under the income tax

Corporations incorporated in Utah must file Articles of

provisions are those that derive income from Utah sources,

Dissolution with the Department of Commerce. In addi-

but are not qualified to do business in Utah and have no

tion, Utah corporations should obtain a Certificate of

regular and established place of business in this state,

Tax Clearance from the Tax Commission prior to disso-

either owned or rented, and do not maintain an inventory or

lution.

have employees located at a place of business in Utah. For

example, a foreign corporation with goods maintained in

Corporations incorporated outside of Utah (foreign)

Utah in a public warehouse, or a trucking company oper-

MUST obtain a Certificate of Tax Clearance from the

ated in or through Utah by a foreign corporation not qualified

Tax Commission before withdrawing from Utah. For-

to do business in Utah, is subject to income tax rather than

eign corporations must file an Application for With-

franchise tax. Corporate income tax filers use form TC-20.

drawal with the Department of Commerce.

A $100 minimum tax applies to the corporate income tax.

To request a Certificate of Tax Clearance, complete

form TC-2001 and submit it to the attention of the

Taxable Year

Customer Services Call Unit at the Tax Commission

The taxable year for Utah corporation franchise or in-

address above.

come tax purposes must match the taxable year used for

To close related tax accounts (sales, withholding, etc.),

federal income tax purposes. When the taxable year

send a letter, with the account number(s) and the last

changes for federal purposes, the taxable year must be

date of business, to the attention of Master File Mainte-

adjusted accordingly for Utah corporation franchise or

nance at the Tax Commission address above.

income tax purposes. Refer to “Filing Return When

Period Changed,” below. If the taxable year is not a

calendar year, enter the beginning and ending dates of

Rounding Off to

the taxable year at the top of form TC-20 where indicated.

Whole-Dollar Amounts

Filing Return When Period Changed

Round off cents to the nearest whole dollar. Round

When changes are made to the taxable year, as indi-

down if cents are under 50 cents; round up if cents are

cated in “Taxable Year,” above, a short-period return is

50 cents and above. Do not enter cents anywhere on

required. The short-period return must cover the period

the return.

of less than 12 months between the prior taxable year-

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2004 Form Tc-20 Utah Corporation Franchise Or Income Tax Return And Instructions Page 2

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