2004 Form Tc-20s Utah Corporation Franchise Or Income Tax Return And Instructions (Page 2 of 14) in pdf

TC-20S General Instructions and Information

Corporation Identification

Liability for Filing

Numbers

and Paying Returns

The Utah State Tax Commission uses the Federal

Tax Forms

Employer Identification Number (EIN) as the corporation’s

The Tax Commission does not mail returns for filing

taxpayer identification with the state. The Utah Depart-

corporate taxes to corporations registered with the

ment of Commerce also issues a registration number

state. If the corporation does not use software that

upon incorporation or qualification in Utah. Enter both

provides the forms, you may obtain Utah forms by

the EIN and Utah Incorporation/Qualification number in

downloading copies from the Tax Commission website

the fields provided. These numbers are used for proper

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

identification of the corporate tax return and any corre-

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

spondence.

NOTE: Review “Supporting Federal Information” later in

Corporation Changes

these general instructions to identify what federal infor-

mation 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,

Division of Corporations

whether qualified or not, must file a corporate franchise

Department of Commerce

tax return. C corporation returns are filed on form TC-20.

160 E 300 S

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

Salt Lake City, UT 84145

corporation that files form TC-20, regardless of whether

the corporation exercises its right to do business.

and

Master File Maintenance

S Corporation

Utah State Tax Commission

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

210 N 1950 W

that has filed a proper and timely election under IRC

Salt Lake City, UT 84134-3310

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

provisions are those that derive income from Utah sources,

Corporations incorporated in Utah must file Articles of

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

Dissolution with the Department of Commerce. In addi-

regular and established place of business in this state,

tion, Utah corporations should obtain a Certificate of Tax

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

Clearance from the Tax Commission prior to dissolution.

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

Corporations incorporated outside of Utah (foreign) MUST

example, a foreign corporation with goods maintained in

obtain a Certificate of Tax Clearance from the Tax

Utah in a public warehouse, or a trucking company

Commission before withdrawing from Utah. Foreign

operated in or through Utah by a foreign corporation not

corporations must file an Application for Withdrawal with

qualified to do business in Utah, is subject to the income

the Department of Commerce.

tax rather than franchise tax.

To request a Certificate of Tax Clearance, complete

Taxable Year

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

Customer Service Call Unit at the Tax Commission

The taxable year for Utah corporation franchise or income

address above.

tax purposes must match the taxable year used for federal

income tax purposes. When the taxable year changes for

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

federal purposes, the taxable year must be adjusted

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

accordingly for Utah corporation franchise or income tax

date of business to the attention of Master File Mainte-

purposes. Refer to “Filing Return When Period Changed”

nance at the Tax Commission address above.

below. If the taxable year is not a calendar year, enter the

beginning and ending dates of the taxable year at the top

Rounding Off to

of form TC-20S where indicated.

Whole-Dollar Amounts

Filing Return When Period Changed

Round off cents to the nearest whole dollar. Round down

When changes are made to the taxable year, as indicated

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

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

and above. Do not enter cents anywhere on the

The short-period return must cover the period of less than

return.

12 months between the prior taxable year-end and the new

taxable year-end. The tax rates as provided in UCA §59-7-

104 and §59-7-201 apply to short period returns.

Page 1

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

Related Articles

Related forms

Related Categories