2004 Form Tc-20 Utah Corporation Franchise Or Income Tax Return And Instructions (Page 6 of 19) in pdf

Installment Sales

5. The corporation treated as having disposed of its

assets is treated as a new corporation as of the day

If a corporation is no longer required to file a Utah

after the date of sale.

corporate return, any taxes owed by that corporation on

installment sales entered into by that corporation shall

accelerate and be due on the corporation’s last return

filed in Utah.

Instructions for the TC-20 Tax Return

Corporation Name & Address

Complete the return, entering the figures as corrected.

Enter other amounts shown on your original return. If you

Enter the corporation name, address and telephone num-

received a refund on your original return, subtract the

ber, including area code. If the address has changed,

previous refund from the amount of any tax paid with the

check the physical address and/or mailing address box. To

original return and/or subsequent payments of the tax

make additional changes, see “Corporation Changes” in

prior to filing the amended return. Enter the net amount on

the General Instructions.

Schedule A, line 19.

Remember: Except for the amounts you amend, the

EIN and Utah Charter Number

amounts you enter on the return must match your

original return.

Enter the Employer Identification Number (EIN) and

Utah Incorporation/Qualification Number issued by the

Line-by-Line Instructions

Department of Commerce in the appropriate fields.

Line 1

Filing Period

Check the box on line 1 if this corporation conducted

If the return is being filed for a period other than the

business in Utah during the taxable year.

calendar year ending Dec. 31, 2004, enter the begin-

Line 2

ning and ending filing dates.

Check the box on line 2 if the federal form 1120 for the

same tax period was a consolidated return.

Amended Returns

Line 3

To amend a return, use the tax form and instructions for

Check the appropriate box to indicate whether the

the year you are amending.

return is:

An amended state return should be filed promptly

a. A “water’s edge” combined report, or

if:

b. A “water’s edge” election made under UCA

1. An error is discovered on your state or federal return

§59-7-402(2), or

after it has been filed; or

c. A “worldwide” combined report.

2. Your federal return is audited or adjusted by the IRS

and the audit or adjustment affects your state return.

See “Combined Reports” in the general instructions for

You must report such changes or corrected net

information on the proper filing method.

income within 90 days of the IRS’s final determina-

tion.

Line 4

Check the appropriate box(es) if an election has been

Do not submit an amended return for the purpose of

made under IRC Sections 338, 338(h)(10) or 336(e).

claiming a loss carryback refund. The Tax Commission

See “General Instructions” for information regarding

automatically calculates any carryback. Any refund will

these elections.

be mailed to the Corporation.

To amend a previously filed return enter a number in the

Line 5

box titled “For Amended Return - Enter code (1-4)” that

Check the box on line 5 if this corporation is, or includes,

best corresponds to your “REASON FOR AMEND-

a financial institution as defined in Tax Commission

ING.” See codes below:

Rule R865-6F-32.

Reasons for Amending

Line 6

1. You filed an amended return with the IRS (attach a

Enter the ultimate U.S. parent corporation’s name.

copy of your amended federal return).

Line 7

2. You made an error on your state return (attach an

Enter the ultimate U.S. parent corporation’s federal

explanation of the adjustments made).

employer identification number.

3. Federal audit adjustments, which resulted in changes

Line 8 – Refund

in federal taxable income, were issued and became

Enter the amount from Schedule A, line 23.

final (attach a copy of the IRS adjustment).

4. Other (attach explanation to return).

Line 9 – Tax Due

Enter the amount from Schedule A, line 24.

Page 5

2004 Form Tc-20 Utah Corporation Franchise Or Income Tax Return And Instructions Page 6

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