2004 Form Tc-20 Utah Corporation Franchise Or Income Tax Return And Instructions Page 8
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19Preparer Penalties
resent the entity before the Tax Commission. If the
corporation wants to expand the preparer’s authoriza-
The person who prepares, presents, procures, ad-
tion, a power of attorney must be completed and
vises, aids, assists or counsels another on a return,
submitted to the Tax Commission.
affidavit, claim or similar document administered by the
The authorization cannot be revoked. However, the
Tax Commission, and who knows or has reason to
authorization will automatically end no later than the
believe it may understate a tax, fee or charge is subject
due date (without regard to extensions) for filing the
to both a civil penalty ($500 per document) and criminal
entity’s 2005 tax return.
penalties (second degree felony with a fine between
$1,500 to $25,000). See Utah Code Sections 59-1-
Paid Preparer
401(9) and (10) for specific details.
The paid preparer must enter his or her name, address,
Supplemental Information To
and social security number or PTIN in the section below
Be Supplied By All
the corporate officer’s signature on the return.
Corporations
All corporations must complete this information
located on the back of the return.
Instructions for Schedule E –
Prepayments of Any Type
Line 1
Line 3
Enter the total amount of all refunds applied from the
List the date, check number and amount of all prepay-
prior year.
ments made for the filing period. Enter the total amount
on line 3. Attach additional pages, if necessary.
Line 2
Line 4
List the date, check number and amount of extension
prepayment.
Add lines 1, 2, and 3. Enter the total on this line and on
Schedule A, line 18e.
Instructions for Schedule A –
Utah Taxable Income and Tax Due
Line 7 – Utah Contributions
Line 1 – Unadjusted Income/Loss
Enter the amount of Utah contributions from Schedule
Enter the federal taxable income (before net operating
D, line 8.
loss deduction and special deductions) from line 28 of
federal form 1120 or line 24 of federal form 1120-A.
Line 8 – Apportionable Income
Line 2 – Additions to Unadjusted Income
Subtract line 7 from line 6.
Enter the total additions from Schedule B, line 15.
Line 9 – Apportionment Fraction
Line 3 – Subtractions from Unadjusted Income
Enter 100 percent or fraction from Schedule J, line 7, if
applicable.
Enter the total subtractions from Schedule C, line 14.
Line 10 – Apportioned Income
Line 4 – Adjusted Income
Multiply line 8 by fraction on line 9.
Add lines 1 and 2, and then subtract line 3.
Line 11 – Nonbusiness Income Allocated to Utah
Line 5 – Nonbusiness Income Net of Related
Enter the amount shown on line 5a above.
Expenses
Add lines 5a and 5b.
Line 12 – Utah Taxable Income/Loss
5a. Enter the nonbusiness income allocated to Utah
Add lines 10 and 11. If Utah taxable income on line 12
from Schedule H, line 13.
is a loss, the corporation may choose to: 1) carry the
loss back (subject to the $1,000,000 limitation), or 2)
5b. Enter the nonbusiness income allocated outside
forego the loss carryback and carry the loss forward, if
Utah from Schedule H, line 26.
the federal election to forego was made.
Line 6 – Apportionable Income Before
If an election is made to forego the federal net operating
Contributions Deduction
loss carryback, a similar election is considered to be
Subtract line 5 from line 4.
made for Utah tax purposes unless the taxpayer makes
a specific election to carry back the loss for Utah
purposes. Indicate in the appropriate box whether you
elect to forego the Utah net loss carryback:
Page 7
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