Form Tc-20mc - Utah Tax Return For Miscellaneous Corporations - 2016 Page 3
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7Schedule A - Tax Calculation
TC-20MC, Sch. A
Pg. 1
20643
2016
EIN
Part 1: Regulated Investment Company
1
Investment company taxable income (loss) from federal form 1120-RIC, line 26
• 1
2
Municipal interest as determined in IRC Section 852(b)(2)
2
3
Exclusion of net capital gain as determined in IRC Section 852(b)(2)
3
4
Net taxable income (loss) - add lines 1 through 3
• 4
5
Deduction for capital gain dividends as defined in IRC Section 852(b)(3)(c)
5
6
Exempt interest dividends as defined in IRC Section 852(b)(5)(c)
6
7
Utah taxable income (loss) - subtract the sum of lines 5 and 6 from line 4
• 7
8
Initial tax - multiply line 7 by 5% (.05) (not less than zero)
• 8
1 0 0 .
9
Minimum tax
9
10 Tax - enter the greater of line 8 or line 9
• 10
Enter this amount on TC-20MC, line 2
Attach a copy of federal form 1120-RIC to this return.
Part 2: Real Estate Investment Trust
1
REIT taxable income (loss) from federal form 1120-REIT, line 22
• 1
2
Income taxed for federal purposes under the IRC but not included in line 1 above
2
3
Federal net operating loss deduction from federal form 1120-REIT, line 21a
• 3
4
Apportionable income (loss) - add lines 1 through 3
• 4
5
Apportionment fraction - enter 1.000000, or TC-20, Schedule J, line 9, 13 or 14, if applicable
5
6
Taxable income (loss) - multiply line 4 by decimal on line 5
• 6
If line 6 is a loss AND you made an election to forego the federal net
operating loss carryback, do you also elect to forego the Utah net loss
•
Yes
•
No
carryback? (See instructions.)
7
Utah losses carried forward from prior years (attach documentation)
• 7
8
Utah taxable income (loss) - subtract line 7 from line 6
• 8
9
Initial tax - multiply line 8 by 5% (.05) (not less than zero)
• 9
1 0 0 .
10 Minimum tax
10
11 Tax - enter the greater of line 9 or line 10
• 11
Enter this amount on TC-20MC, line 2.
Attach a copy of federal form 1120-REIT to this return.
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