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Form TC-20MC-Inst Utah Tax Return-Inst for Miscellaneous Corporations
0595 Beaver County 0595 Box Elder County 0595 Carbon County 0595 Duchesne County 0595 Emery County 0595 Grand County 0595 Iron County 0595 Juab County 0595 Millard County 0595 Morgan County 0595 Piute County 0595 Rich County 0595 San Juan County 0595 Sanpete County 0595 Sevier County 0595 Tooele County 0595 Wasatch County 0595 Washington County 0595 Wayne County 0605 Aurora Redmond 0605 Cedar City 0605 Duchesne City 0605 Summit County 0605 Uintah County 0620 Santaquin South 0625 Ephraim Fairview 0625 Erda Grantsville 0625 Heber 0625 Hurricane Ivins La 0625 Nephi 0625 Wellington 0630 Cache County 0635 Blanding Monticello 0635 Naples Vernal 0635 Price 0635 Rich eld Salina 0635 Roosevelt 0635 Snyderville Basin Transit 0635 Tooele City 0650 Brigham City Perry 0650 Davis County 0655 Cache Valley Transit 0660 Bountiful Centerville 0660 Hyrum Logan Nibley 0675 Utah County 0685 Cedar Hills Orem 0685 Salt Lake County 0685 Weber County 0695 Beaver City 0695 Daggett County 0695 Gar eld County 0695 Kane County 0695 Snowville 0705 Falcon Hill Riverdale 0705 Independence 0705 South Salt Lake 0735 Midway Park City East 0745 Park City 0755 Garden City 0755 Springdale 0775 Green River 0785 Brian Head 0785 Moab 0795 Boulder Panguitch 0795 Kanab Orderville 0805 Bryce Canyon 0835 Alta 1 800 662 4335 1st 22 5 2nd 45 0 3rd 67 5 4th 90 0 Appor tionment Fraction for Sales Factor Weighted Taxpayers For tax years beginning in 2012 the calculation of the apportionment fraction on Schedule J has changed to weight the sales factor 10 times for a corporation treated as a Sales Factor Weighted Taxpayer See page 11 Commission decisions: Regulated Investment Company Attach a copy of your federal form 1120 RIC Santa Clara (39) Renewable Commercial Energy Systems Tax Credit (UC 59 7 614) (40) Targeted Business Tax Credit (UC 63M 1 504) (43) Pass through Entity Withholding Tax Credit (UC 59 7 614 4) (46) Mineral Production Withholding Tax Credit (UC 59 6 102) (47) Agricultural Off Highway Gas/Undyed Diesel Fuel Tax Credit (UC 59 13 202) (48) Farm Operation Hand Tools Credit (UC 59 7 614 1) (Does not apply to One day Target Corporations electing under Section 338) (outside the Salt Lake area) (Retain this worksheet for your records) (UC 59 1 401(11)) 1 You led an amended federal return with the IRS Attach a copy of your amended federal return 2 You made an error on your Utah return Attach an explanation of the error 1120 H 1120 RIC 1120 REIT 990 T or 8023 2 This will result in the sales factor being considered twice in the calculation 3 Your federal return was changed by an IRS audit or adjustment that affects your Utah return Attach a copy of the IRS adjustment 39 Renewable Commercial Energy Systems Tax Credit 4 Other Attach explanation to return 40 Targeted Business Tax Credit 43 Pass through Entity Withholding Tax Credit 46 Mineral Production Withholding Tax Credit 47 Agricultural Off highway Gas/Undyed Diesel Fuel Tax Credit 48 Farm Operation Hand Tools Credit A business may not claim the targeted business tax credit in the same year the business claims the enter prise zone credit (nonrefundable credit code 07) or recycling market development zone credit (nonrefund able credit code 10) A corporation is not subject to the estimated tax pay ment requirements the rst year it is required to le a return in Utah if the corporation makes a payment on or before the due date without the extension equal to or greater than the minimum tax A corporation may annualize its income before determin ing the amount of each estimated tax installment Follow federal guidelines to determine annualized income If the corporation meets the annualized exception at the federal level for any installment check the appropriate box(es) on Utah form TC 20MC line 15 A corporation with recurring seasonal income may annualize its income before determining the amount of each estimated tax installment Follow federal guide lines to determine seasonal income If the corporation meets the seasonal exception at the federal level for any installment check the appropriate box(es) on Utah form TC 20MC line 15 A homeowners association incorporated in Utah (do mestic) quali ed in Utah (foreign) or doing business in Utah whether quali ed or not must le a Utah form TC 20MC when it has taxable income for federal pur poses and has led federal form 1120 H Attach a copy of your federal form 1120 H to your Utah TC 20MC Other detail schedules should NOT be included The Auditing Division of the Tax Commission may request these detail schedules at a later date A homeowners association is not subject to the $100 minimum tax A refundable credit is allowed for advance payments made as quarterly estimated tax payments prepayments and extension payments (form TC 559) Include any overpay ment from a prior year that was applied to this year Enter the prepayments on Schedule E and carry the total from line 4 of Schedule E to line 6 of the TC 20MC A refundable credit is available to businesses provid ing a community investment project as de ned in UC 63M 1 501 through 63M 1 503 Get a certi ed copy of form TC 40TB Targeted Business Tax Credit Keep this form and all related documents with your records A return must be led on or before the 15th day of the fourth month following the close of the taxable year If the due date falls on a Saturday Sunday or legal holiday the due date becomes the next business day A supporting schedule should be attached whenever monthly averaging is used A taxpayer who is a partner in a partnership must include their pro rata share of the partnership s sales in determining whether they meet the 50 percent of total sales everywhere requirement above A taxpayer who is a sales factor weighted taxpayer must calculate the apportionment fraction under Part 3 Add line 2 and line 3 Add line 3 and line 5 $ Add line 9 and line 10 Make check or money order payable to the Utah State Tax Commission Do not mail cash The Tax Commission assumes no liability for loss of cash placed in the mail Add lines 1 2 and 3 Enter the total on this line and on TC 20MC line 6 Add lines 1 through 3 Add lines 5 through 7 All corporations ling a TC 20MC must complete this information located on page 2 of the return All or part of any overpayment shown on line 12 may be applied as an advance payment for the next tax year Enter the amount to be applied (may not exceed the overpayment on line 12) Amend your return if: Amended Returns Amount of grocery food purchases subject to use tax $ Amount of purchases (except grocery food) subject to use tax $ Amounts reportable for employment security purposes may ordinarily be used to determine the wage factor An election is not available for Utah purposes unless an election is made or considered to be made for federal purposes An exempt corporation incorporated in Utah (domestic) quali ed in Utah (foreign) or doing business in Utah whether quali ed or not must le a Utah form TC 20MC when it has unrelated business income Attach a copy of your federal form 990 T to your Utah TC 20MC Other detail schedules should NOT be included The Auditing Division of the Tax Commission may request these detail schedules at a later date An explanation of each refundable credit is listed below an IRC Section 338 An unincorporated exempt organization or an exempt corporation having unrelated business income is not subject to the $100 minimum tax and Master Records Utah State Tax Commission 210 N 1950 W Salt Lake City UT 84134 3310 Annualized Exception Attach a copy of your federal return including the IRC 338 gain or loss and federal form 8023 to your Utah TC 20MC Attach copies of form TC 675R or Utah Schedule K 1(s) to the return to receive proper credit Attach copies of Utah Schedule K 1(s) to the return to receive proper credit Attach documentation to the return to support the loss amounts carried forward on line 7 Brie y describe the nature and location(s) of your Utah business activities in the space provided at the top of this schedule bury Park Business Activity C corporations and S corporations may le electronically Calculate the apportionment fraction for a sales factor weighted taxpayer to six decimals by dividing line 15 by the number of factors used (typically 12 property payroll and 10 times the sales factor) Calculate the apportionment fraction to six decimals by dividing line 8 by the number of factors used (typically 3 property payroll and sales) Calculate the elected double weighted sales factor to six decimals by dividing line 12 by the number of fac tors used (typically 4 property payroll and two times the sales factor) call the Tax Commission for information about the processing of the return or the status of any refund or payment(s) and Check any boxes corresponding to the four quarters to which a federal penalty exception applies Refer to Prepayment Requirements in the General Instructions for exceptions to the penalty on underpayments Attach supporting documentation Check with your software provider to see if they offer electronic corporation ling Company Remember to mark line 1 on TC 20MC showing this return is for a Regulated Investment Company Compensation is paid in Utah if: Complete TC 20 Schedule J to determine the ap portionment fraction (decimal) The factors express a ratio for tangible property in Utah to total tangible property everywhere for wages and salaries in Utah to total wages and salaries everywhere and for sales in Utah to total sales everywhere These factors or ratios are used to arrive at the Utah apportionment fraction calculated to six decimals This fraction (decimal) is then applied to the apportionable income (or loss) on the return to arrive at the amount of income (or loss) apportioned to Utah In cases where one or more of the factors is omitted due to peculiar aspects of the business operations use the number of factors present to determine the Utah apportionment fraction Contents Corporation Changes Corporation changes (e g name change physical and/ or mailing address changes merger or ceasing to do business in Utah) must be reported in writing to both: Corporation Identification Numbers Corporation Name and Address Corporation with Corporations Corporations are automatically allowed an extension of up to six months to le a return without ling an extension form This is an extension of time to le the return NOT an extension of time to pay taxes Corporations incorporated in Utah must le Articles of Dissolution with the Department of Commerce Corporations incorporated outside of Utah (foreign corporations) must obtain a Certi cate of Tax Clear ance from the Tax Commission before withdrawing from Utah Foreign corporations must le an Application for Withdrawal with the Department of Commerce Corporations not making the required tax prepayments are subject to a penalty as stated in Penalties below Corporations should make estimated prepayments using form TC 559 Corporation/Partnership Payment Coupon Corporations subject to the minimum tax not making the required tax prepayments are subject to a penalty as stated in Penalties below Corporations subject to the minimum tax that meet the prepayment requirement in the current year and that had a tax liability of $100 (the minimum tax) for the previous year may choose to prepay the minimum tax amount of $100 on the 15th day of the 12th month instead of four increments of $25 Corporations subject to the minimum tax that met the prepayment requirement in the previous year and have a tax liability of $100 (the minimum tax) in the current year may choose to prepay the minimum tax amount of $100 on the 15th day of 12th month instead of four increments of $25 In this case the corporation must pay $100 not 90 percent Corporations that cease to do business in Utah must either dissolve or withdraw the corporation Credit calculation: Credit for sales tax paid to another state on use tax purchases $ ( ) Determine the payroll factor (decimal) by dividing line 3a column A by line 3a column B Determine the property factor (decimal) by dividing line 1f column A by line 1f column B Determine the sales factor (decimal) by dividing line 5h column A by line 5h column B Dissolution or Withdrawal Dissolving and withdrawing corporations must also close their other Utah tax accounts (sales withholding etc ) To close related tax accounts send a completed TC 69C Notice of Change for a Tax Account to the attention of Master Records at the Tax Commission address above Division of Corporations Department of Commerce 160 E 300 S PO Box 146705 Salt Lake City UT 84114 6705 Do not send the credit schedules worksheets or other documentation unless speci cally requested in these instructions Keep these in your les You may be asked to provide this information later to verify entries on your Utah return Do not submit a copy of your original return with your amended return Double Weighted Sales Factor Formula Election Due Date E Verify for Employers EIN and Utah Incorporation/ Qualification Number Election Electronic Filing for Corporation Returns Employers can help prevent identity theft by verifying the social security numbers of job applicants E Verify is a free service of the U S Department of Homeland Security that veri es employment eligibility through the Internet Employers can use E Verify at www dhs gov/E Verify energy utah gov Enter 1 000000 or the fraction (decimal) from Schedule J line 9 13 or 16 if applicable Enter an X on line 10 if you elect to double weight the sales factor Enter an X on the line that matches the type of cor poration return being led There are ve choices: Enter any deduction for capital gain dividends as de ned in IRC 852(b)(3)(c) Enter any exempt interest dividends as de ned in IRC 852(b)(5)(c) Enter any federal net operating loss deduction from federal form 1120 REIT line 21a Enter any municipal interest as determined by IRC 852(b)(2) Enter any net capital gain exclusion as determined by IRC 852(b)(2) Enter any penalties and interest that apply to this return Enter the amount of any refund applied from the prior year to the current year s tax liability Enter the amount of tax calculated in the applicable part on Schedule A Enter the apportionment fraction (decimal) here and on Schedule A Enter the apportionment fraction (decimal) here and on Schedule A Enter the apportionment fraction of the target corporation Enter the corporation name address and telephone number including area code If the address has changed check the physical address and/or mailing address box To make additional changes see Corpora tion Changes in the General Instructions Enter the corrected gures on the return and/or sched ule Enter all other amounts as shown on your original return If you received a refund on your original return subtract the previous refund (exclude refund interest) from the amount of any tax paid with the original return and/or subsequent payments of the tax prior to ling the amended return Enter the net amount on line 7 A net refund should be entered as a negative amount (preceded by a minus sign) Enter the gain or (loss) on the deemed sale of assets included in federal taxable income before any net op erating loss from the target corporation Enter the investment company s taxable income (loss) from federal form 1120 RIC line 26 Enter the larger of the tax on line 6 or the minimum tax on line 7 Carry this tax to line 2 of TC 20MC Enter the larger of the tax on line 8 or the minimum tax on line 9 Carry this tax to line 2 of TC 20MC Enter the larger of the tax on line 9 or the minimum tax on line 10 Carry this tax to line 2 of TC 20MC Enter the real estate investment trust s taxable income (loss) from federal form 1120 REIT line 22 Enter the six digit NAICS code for this taxpayer from your federal return This is a mandatory eld and must be completed Your apportionment method may be determined by your NAICS code See Sales Factor Weighted Taxpayers above Enter the sum of the factors from lines 2 4 and 11 Enter the sum of the factors from lines 2 4 and 14 Enter the sum of the factors from lines 2 4 and 6 Enter the taxable income (loss) from federal form 1120 H line 19 Enter the total of all income items taxed for federal purposes under the Internal Revenue Code but not included in the amount entered on line 1 Enter the total of the mineral production tax withheld as shown on forms TC 675R or Utah Schedule K 1(s) for the tax year For a scal year corporation the credit is claimed on the corporate return required to be led during the year following the December closing period of the form TC 675R Enter the total of the refundable credits listed on Schedule B Enter the unrelated business taxable income (loss) from federal form 990 T line 34 Enter totals of lines 1a through 1e in the respective columns on line 1f Enter totals of lines 5a through 5g in their respective columns on line 5h Enter your Federal Employer Identi cation Number (EIN) and Utah Incorporation/Quali cation Number issued by the Department of Commerce in the appropriate elds Enter your ZIP Code including the plus four at the end without a hyphen Equally Weighted Three Factor Formula Election Estimated Tax Every corporation having a Utah tax liability of $3 000 or more in the current taxable year or a tax liability of $3 000 or more in the previous taxable year must make quarterly estimated tax payments Every real estate investment trust (REIT) or fund of such company as de ned in IRC 856 registered or doing business in Utah must le a Utah form TC 20MC Doing business in Utah includes owning an interest in Utah real property Attach a copy of your federal form 1120 REIT to your Utah TC 20MC Other detail schedules should NOT be included The Auditing Division of the Tax Commission may request these detail schedules at a later date Every regulated investment company (RIC) or fund of such company as de ned in IRC 851(a) or 851(g) organized under the laws of Utah must le a Utah form TC 20MC Attach a copy of your federal form 1120 RIC to your Utah TC 20MC Other detail schedules should NOT be included The Auditing Division of the Tax Commission may request these detail schedules at a later date Exceptions to Penalty on Exempt Corporation with Unrelated Business Income Extension Prepayments Federal Form 8886 Federal return: File TC 20 if Corporation led federal form 1120 File TC 20MC if Corporation led federal forms File TC 20S if S Corporation led federal form 1120S File using the 2012 return for calendar year 2012 and scal years beginning in 2012 and ending in 2013 If the return is for a scal year or a short tax year (less than 12 months) ll in the tax year beginning and end dates at the top of the form using the format mm/dd/yyyy Filing Extension Filing Period For apportionment purposes the portion of partner ship or joint venture property payroll and sales to be included in the taxpayer s property payroll and sales factors must be computed on the basis of the taxpayer s ownership interest in the partnership or joint venture For more information contact: For multistate taxpayers that are not sales factor weighted taxpayers an election may be made to double weight the sales factor in the apportionment calculation The election is made by entering an X on line 10 and completing lines 11 through 13 on Schedule J For tax years beginning after 2010 every multistate taxpayer must determine if they are a Sales Factor Weighted Taxpayer A sales factor weighted taxpayer is a taxpayer having greater than 50 percent of total sales everywhere generated by economic activities performed by the taxpayer and classi ed in a NAICS code of the 2002 or 2007 North American Industry Classi cation System except for a NAICS code within: For water s edge and worldwide combined unitary groups the group is a sales factor weighted taxpayer if greater than 50 percent of the total sales everywhere of the unitary group are classi ed in NAICS codes except those codes listed above Foreign Country Form TC 20MC Form TC 20MC Schedule A must be completed and attached See instructions for Schedule A on page 7 of these instructions Attach only page 1 or page 2 of the Schedule A that applies to your corporation Gallons x 245 = Credit General Instructions and Information General Instructions and Information 1 Get form TC 40E Renewable Residential and Commer cial Energy Systems Tax Credits from the Utah Of ce of Energy Development with their certi cation stamp verify ing the credit is approved and showing the amount of the approved credit Do not send this form with your return Keep the form and all related documents with your records Get Pub 58 Utah Interest and Penalties which contains applicable interest rates at tax utah gov/forms or by calling or writing the Tax Commission give the Tax Commission any information that is missing from the return goed utah gov/incentives/enterprise zones Governor s Of ce of Economic Development 60 E South Temple 3rd Floor PO Box 146950 Salt Lake City UT 84114 6950 801 538 8804 Grocery food bought through the Internet or catalog is taxed at 3% The grocery food must be sold for in gestion or chewing by humans and consumed for the substance s taste or nutritional value The reduced rate does not apply to alcoholic beverages or tobacco See Publication 25 at tax utah gov/forms for more information Gunnison Mt Pleasant Homeowners Association Homeowners Association Attach a copy of your federal form 1120 H Homeowners Association with IRC Section 528 Income (these corporations must complete Part 3 of Schedule A and attach a copy of federal form 1120 H) Homeowners associations ling federal form 1120 H and Utah TC 20MC are not allowed net operating loss deductions Hyde Park Lewiston If a corporation owes tax and is unable to pay the whole amount owed the corporation may complete form TC 804B Business Tax Payment Agreement Request available at tax utah gov/forms If a pass through entity is required to withhold Utah income tax on any income attributable to this corpora tion under 59 10 1403 2 the pass through entity must provide a Utah Schedule K 1 showing the amount of Utah withholding paid on behalf of this corporation Enter this amount as a refundable credit using code 43 If a taxpayer elects a different annualization period than the period used for federal purposes the taxpayer must make an election with the Tax Commission at the same time as provided in IRC 6655 Estimated tax payments should be made with form TC 559 Corpora tion/Partnership Payment Coupon If an election is made for federal purposes under IRC 338(h)(10) or IRC 336(e) do not use form TC 20MC use form TC 20 If an election is made or considered to be made for federal purposes under IRC 338 other than under Subsection 338(h)(10) the target corporation must le a separate entity one day Utah form TC 20MC as is required for federal purposes The target corporation must include in that return the gain or loss on the deemed sale of assets in its adjusted income (UC 59 7 114) If line 4 is larger than line 8 subtract line 8 from line 4 If line 8 is larger than the sum of line 4 and line 10 subtract the sum of line 4 and line 10 from line 8 If neither box is marked the Utah net loss must be carried back to the earliest of the three preceding tax years If not entirely used to offset income of that year it must be carried to the second year preceding the loss year Any remaining loss must be carried to the taxable year immediately preceding the loss year Any remaining loss should be carried forward If one or more of the factors are not present (i e there is a zero in the denominator on lines 1f 3a or 5h in column B) divide by the number of factors present If one or more of the factors are not present (i e there is a zero in the denominator on lines 1f or 3a in column B) divide by the number of factors pres ent (allowing 10 factors for sales) If one or more of the factors are not present (i e there is a zero in the denominator on lines 1f or 3a in column B) divide by the number of factors pres ent (allowing two factors for sales) If the corporation wants to allow the Tax Commission to discuss their 2012 return with the paid preparer who signed it enter an X in the box on the right side of the signature area of the return where indicated This autho rization applies only to the individual whose signature appears in the Paid Preparer Section of the return It does not apply to the rm if any shown in that section If you enter an X in the box the corporation is authorizing the Tax Commission to call the paid preparer to answer any questions that may arise during the processing of the return The paid preparer is also authorized to: If the entity wants to expand the preparer s authoriza tion complete and submit to the Tax Commission form TC 737 Power of Attorney and Declaration of Repre sentative Get form TC 737 at tax utah gov/forms If you wish to revoke the authorization before it ends submit your request in writing to the Utah State Tax Commission attention Taxpayer Services 210 N 1950 W SLC UT 84134 If the numerator is zero but a denominator is pres ent include that factor in the number of factors present If the numerator is zero but a denominator is present include that factor in the number of factors present If there is a Utah net loss on line 6 the REIT must carry the loss back to the three preceding years (subject to the $1 000 000 limitation) unless an election was made to forego the federal loss carryback and carry the federal loss forward If an election is made to forego the federal net operating loss carryback the federal election is considered made also for Utah tax purposes unless the corporation makes a speci c election to carry back the loss for Utah purposes Enter an X in the appropriate box: If you are not a sales factor weighted taxpayer and are not electing the double weighted sales factor (see lines 10 through 13 below) complete lines 8 and 9 If you are a sales factor weighted taxpayer or you are electing the double weighted sales factor leave lines 8 and 9 blank If you are not a sales factor weighted taxpayer you may elect to give double weight to the sales factor in the apportionment calculation If you elect this calculation enter an X on line 10 and complete lines 11 through 13 If you claim any of the following refundable credits write the code and amount of each credit you are claiming on Schedule B Add all the refundable credits and carry the total to TC 20MC line 5 If you led federal Form 8886 Reportable Transac tion Disclosure Statement with the Internal Revenue Service enter an X at the top of TC 20MC where indicated If you need an accommodation under the Americans with Disabilities Act contact the Tax Commission at 801 297 3811 or If your address is in a foreign country enter the mailing address where indicated Enter the foreign city state/ province and postal code in the City eld Abbreviate if necessary Leave the State and ZIP Code elds blank Enter only the foreign country name in the Foreign country eld This is a Postal Service requirement Include the following with your Utah TC 20MC Also keep copies of these with your tax records Income or loss from partnership or joint venture inter ests must be included in income and apportioned to Utah through application of the three factor formula consisting of property payroll and sales Installment Percentage Interest (in addition to penalties due) Interest is assessed on underpayments from the due date until the liability is paid in full The interest rate for the 2013 calendar year is 2 percent Internal Revenue Code (IRC): Investment Lakepoint Lincoln Stans law cornell edu/uscode/26 Line 1 Corporation Return Type Line 1 Gain (Loss) on Deemed Sale of Assets Line 1 Investment Company Taxable Income (Loss) Line 1 Overpayment Applied from Prior Year Line 1 REIT Taxable Income (Loss) Line 1 Taxable Income (Loss) Line 1 Unrelated Business Taxable Income (Loss) Line 10 Making the Election Line 10 Minimum Tax Line 10 Penalties and Interest Line 10 Tax Line 11 Double Sales Factor Line 11 Tax Line 11 Total Due Pay This Amount Line 12 Overpayment Line 12 Total Factors Line 13 Amount of Overpayment to be Applied to Next Taxable Year Line 13 Elected Apportionment Fraction Line 14 Refund Line 14 Ten Times the Sales Factor Line 15 Quarterly Estimated Prepayments Meeting Exception Line 15 Total Factors Line 16 Apportionment Fraction Line 2 Apportionment Fraction Line 2 Extension Prepayment Line 2 Income Taxed for Federal Purposes under the IRC but Not Included in Line 1 Line 2 Municipal Interest Line 2 Property Factor Calculation Line 2 Tax Line 3 Exclusion of Net Capital Gain Line 3 Federal Net Operating Loss Deduction Line 3 Other Prepayments Line 3 Payroll Factor Line 3 Utah Apportioned Gain (Loss) Line 3 Utah Taxable Income (Loss) Line 3 Utah Use Tax Line 4 Apportionable Income (Loss) Line 4 Net Taxable Income Line 4 Payroll Factor Calculation Line 4 Tax Line 4 Total Prepayments Line 4 Total Tax Line 4 Utah Losses Carried Forward from Prior Years Line 5 Apportionment Fraction Line 5 Deduction for Capital Gain Dividends Line 5 Refundable Credits Line 5 Utah Taxable Gain (Loss) Line 6 Exempt Interest Dividends Line 6 Initial Tax Line 6 Prepayments from Schedule E Line 6 Sales Factor Calculation Line 6 Taxable Income (Loss) Line 7 Amended Returns Only Line 7 Minimum Tax Line 7 NAICS Code Line 7 Utah Losses Carried Forward from Prior Years Line 7 Utah Taxable Income (Loss) Line 8 Initial Tax Line 8 Tax Line 8 Total Factors Line 8 Total Refundable Credits and Prepayments Line 8 Utah Taxable income (Loss) Line 9 Apportionment Fraction Line 9 Initial Tax Line 9 Minimum Tax Line 9 Tax Due Line by Line Instructions Lines 1a 1f Property Factor Lines 5a 5h Sales Factor List the date and amount of all prepayments made for the ling period Enter the check number if payment was not made electronically Enter the total amount on line 3 Attach additional pages if necessary List the date and amount of any extension prepayment Enter the check number if payment was not made electronically Losses incurred in years beginning on or after Jan 1 1994 which remain after all carrybacks have been ap plied may be carried forward for fteen taxable years following the taxable year of the loss Market Sourcing of Revenues from Performance of Services by Multi state Taxpayers: For tax years beginning after 2008 corporations performing a service both in and outside Utah must calculate the sales factor numerator on Schedule J by consider ing the service income to be in Utah if the buyer receives a greater bene t of the service in Utah than in any other state See page 12 Millville Minimum Tax Miscellaneous Multiply line 1 by 5% ( 05) This is the Utah corporate tax Do not enter an amount less than 0 Carry this tax to line 2 of TC 20MC Multiply line 1 by line 2 $ Multiply line 3 by 5% ( 05) This is the Utah corporate tax Do not enter an amount less than 0 Carry this tax to line 2 of TC 20MC Multiply line 4 by 03 $ Multiply line 5 by 5% ( 05) This is the initial Utah cor porate tax Do not enter an amount less than zero Multiply line 7 by 5% ( 05) This is the initial Utah cor porate tax Do not enter an amount less than zero Multiply line 8 by 5% ( 05) This is the initial Utah cor porate tax Do not enter an amount less than zero Multiply the apportionable income (loss) on line 4 by the apportionment fraction on line 5 Multiply the gain (loss) on deemed sale of assets on line 1 by the apportionment fraction on line 2 Multiply the sales factor (decimal) from line 6 above by Multiply the sales factor (decimal) from line 6 by 10 Multiply the unrelated business taxable income (loss) on line 1 by the apportionment fraction on line 2 N Logan Providence N Salt Lake W Bountiful NAICS Code for Taxpayer Need more information? No to treat the Utah net loss as a carryback Note: A captive real estate investment trust must be included as a member of a unitary group ling Utah form TC 20 (not TC 20MC) A real estate investment trust (REIT) is a captive real estate investment trust if the shares or bene cial interests of the REIT are not regularly traded on an established securities market and more than 50 percent of the voting power or value of the shares or bene cial in terests of the REIT are directly indirectly or constructively owned or controlled by a controlling entity of the REIT Note: Attach a copy of your federal form 1120 H to your Utah return Note: Attach a copy of your federal form 1120 REIT to your Utah return Note: Attach a copy of your federal form 1120 RIC to your Utah return Note: Attach a copy of your federal form 8023 to your Utah return Note: Attach a copy of your federal form 990 T to your Utah return Note: Only the property payroll and sales included in the computation of unrelated business income or directly related to the unrelated business income of an exempt organization may be included when ap portioning income Note: See What to Attach and What to Keep later in these General Instructions to identify what federal information is required with the Utah return NOTE: The prepayment penalty does not apply to a one day target corporation under IRC Section 338 Note:Securities brokerage businesses must follow the provisions in UC 59 7 319(6) One day Target Corporation with an IRC Sec tion 338 Election Attach a copy of your federal form 8023 One day Target Corporation with an IRC Section 338 Election (these corporations must complete Part 5 of Schedule A and attach a copy of federal form 8023) One day Utah Corporation (IRC Section 338) Order paper forms 801 297 6700 or 1 800 662 4335 ext 6700 (outside the Salt Lake area) Other Multistate Taxpayers Overall sales including Utah are listed in column B Overall wages including Utah are listed in column B Paid Preparer Paid Preparer Authorization Part 1 Regulated Part 2 Real Estate Investment Trust Part 3 Homeowners Association with IRC Section 528 Income Part 4 Unincorporated Exempt Organization or Exempt Corporation having Unrelated Business Income Part 5 One day Target Penalties Photo by Randolph Prawitt Photograph by Randolph Prawitt Preparer Penalties Prepayment of Minimum Tax Prepayment of Minimum Tax Requirement Prepayment Requirements Property owned by the taxpayer is valued at its original cost Property rented by the taxpayer is valued at eight times the net annual rental rate Net annual rental rate is the annual rental rate paid by the taxpayer less the annual rate received by the taxpayer from sub rentals Quarterly estimated tax payments are due (in four pay ments) on the 15th day of the 4th 6th 9th and 12th months of the corporation s taxable year Corporations may elect to make the quarterly estimated tax payments equal to 100 percent of the prior year s tax in four equal payments or 90 percent of the current year s tax based on the percentages below As de ned in UC 59 7 504(2) the applicable percentage of the required payment for annualized income installments for adjusted seasonal installments and for estimated tax payments based on the current year tax liability is the following: Quarterly Payments Questions 801 297 2200 or Real Estate Investment Trust (REIT) Real Estate Investment Trust (these corporations must complete Part 2 of Schedule A and attach a copy of federal form 1120 REIT) Note: A captive real estate investment trust must le a TC 20 instead of a TC 20MC For more information see the TC 20 instructions Real Estate Investment Trust Attach a copy of your federal form 1120 REIT Reason for Amending Codes Recurring Seasonal Exception Regulated Investment Company (RIC) Regulated Investment Company (these corporations must complete Part 1 of Schedule A and attach a copy of federal form 1120 RIC) Remember to mark line 1 on TC 20MC showing this return is for a Homeowners Association Remember to mark line 1 on TC 20MC showing this return is for a One day Target Corporation with an IRC 338 Election Remember to mark line 1 on TC 20MC showing this return is for a Real Estate Investment Trust Remember to mark line 1 on TC 20MC showing this return is for an Unincorporated Exempt Organization or Exempt Corporation having Unrelated Business Income Reminders Research Utah rules bulletins and respond to certain Tax Commission notices about math errors offsets and return preparation Richmond River Heights Riverdale Round off cents to the nearest whole dollar Round down if cents are under 50 cents; round up if cents are 50 cents and above Do not enter cents anywhere on the return Rounding Off to Whole Dollar Amounts Sales and use tax rates vary throughout Utah Use Sales Factor Weighted Taxpayers Sales Factor Weighted Taxpayers Only Sales of tangible personal property are in Utah if the property is delivered or shipped to a purchaser within Utah regardless of the F O B point or other conditions of the sale or if the property is shipped from an of ce store warehouse factory or other place of storage in Utah and: Schedule A Tax Calculation Instructions Schedule A Tax Calculation Instructions 7 Schedule B Refundable Credits Instructions Schedule B Refundable Credits Instructions 10 Schedule E Prepayments of Any Type Instructions Schedule E Prepayments of Any Type Instructions 11 Schedule J Apportionment Schedule Instructions Schedule J Apportionment Schedule Instructions 11 Section 21 Mining; Section 31 33 Manufacturing; Section 48 49 Transportation and Warehousing; Section 51 Information (except for Subsector 519 Other Information Services); or Section 52 Finance and Insurance See instructions on page 11 for the de nition and quali cations of a sales factor weighted taxpayer required to use Part 3 See Prepayment of Minimum Tax instructions above Send the completed return with any payment to: Show the average cost value during the taxable year of real and tangible personal property used in the busi ness within Utah (including leased property) in column A and overall (including Utah) in column B Sign and date the return A refund will not be allowed without a signature Signature and Date Line Smith eld some of the service is performed in Utah and: Subtract line 13 from line 12 This is the amount to be refunded to you Subtract line 4 from line 3 Subtract line 7 from line 6 Subtract the total of lines 5 and 6 from line 4 Supplemental Information to be Supplied by All Corporations Suspension for Failure to Pay Tax Due Tax Return & Instructions tax utah gov Taxable Year Taxpayers that perform a service both in and outside Utah must include service income on line 5g in column A (Inside Utah) if the purchaser of the service receives a greater bene t of the service in Utah than in any other state The former cost of performance method no longer applies (See UC 59 7 319(3)(a) ) TC 20MC Utah Tax Return for Miscellaneous Corporations Instructions TC 20MC Utah Tax Return for Miscellaneous Corporations Instructions 4 Telecommunications Device for the Deaf (TDD) 801 297 2020 Please allow three working days for a response The average value of property must be determined by averaging the cost values at the beginning and end of the tax period However monthly values may be used or required if monthly averaging more clearly re ects the average value of the taxpayer s property the base of operations or if there is no base of operations the place where the service is directed or controlled is within Utah; or the base of operations or the place where the service is directed or controlled is not in any state where some part of the service is performed but the individual s residence is in Utah the chart on the previous page to get the rate for the location where the merchandise was delivered stored used or consumed Use the county tax rate if the city is not listed The corporation is not authorizing the preparer to re ceive any refund bind the entity to anything (including any additional tax liability) or otherwise represent the entity before the Tax Commission The authorization will automatically end no later than the due date (without regard to extensions) for ling the entity s 2013 tax return The due date for an exempt organization with unrelated business income (TC 20MC Schedule A Part 4) is the same as the due date of its federal return The due date of the one day return (TC 20MC Schedule A Part 5) is the same as the due date of the return that includes the taxable period of the target corporation immediately preceding the one day return The federal and state information is submitted at the same time and the IRS extracts its federal data and forwards the state data to the Tax Commission No papers are required to be mailed to the agencies when ling electronically The gain or (loss) on the deemed sale of assets must be apportioned to Utah using the apportionment fraction calculated to six decimals of the target corporation This fraction must be calculated on a separate entity basis for the most recent preceding taxable year consisting of 180 days or more The gain or loss on the deemed sale of assets must be apportioned to Utah using the apportionment fraction calculated to six decimals of the target corporation calculated on a separate entity basis for the most recent preceding taxable year consisting of 180 days or more the individual s service is performed both within and outside Utah but the service performed outside Utah is incidental to the individual s service within Utah; or the individual s service is performed entirely within Utah; The minimum tax for a one day target corporation is $100 The minimum tax for a real estate investment company is $100 The minimum tax for a regulated investment company is $100 The paid preparer must enter his or her name address and PTIN in the section below the corporate of cer s signature on the return The person who prepares presents procures advises aids assists or counsels another on a return af davit claim or similar document administered by the Tax Commission and who knows or has reason to believe it may understate a tax fee or charge is subject to both a civil penalty ($500 per document) and criminal penalties (second degree felony with a ne from $1 500 to $25 000) the purchaser is the United States Government or The required extension prepayments must equal 90 percent of the current year tax liability (or if applicable the $100 minimum tax whichever is greater) or 100 percent of the previous year s tax liability The sales factor is the fraction the sales or charges for services within Utah for the taxable year bear to the overall sales for the taxable year Gross receipts from the performance of services in Utah are assigned to the Utah sales numerator if the purchaser of the service receives a greater bene t of the service in Utah than in any other state The Tax Commission does not mail returns for ling corporate taxes If the corporation does not use software that provides the forms you may obtain Utah forms by downloading copies from the Tax Commission website at tax utah gov/forms or by calling the Forms Hotline at 801 297 6700 or 1 800 662 4335 ext 6700 The Tax Commission will calculate the penalty for underpayment of required prepayments The taxable year for Utah tax purposes must match the taxable year used for federal tax purposes When the taxable year changes for federal purposes the taxable year must be changed for Utah tax purposes The Taxpayer Advocate Service assists taxpayers who have made multiple unsuccessful attempts to resolve concerns with the Tax Commission This service helps resolve problems when normal departmental processes break down identi es why the problem occurred and suggests remedies to stop the problem from recurring See details at tax utah gov/contact or contact us to nd out if you qualify for this assistance at 801 297 7562 toll free at 800 662 4335 ext 7562 or by email at taxpayeradvocate@utah gov The Taxpayer Advocate service should not be used to by pass normal methods for resolving disputes or issues the taxpayer is not taxable in the state of the pur chaser There is a minimum tax (privilege tax) of $100 on every regular C corporation regulated investment company and real estate investment trust regardless of whether the corporation exercises its right to do business The minimum tax does not apply to S corporations hom eowners associations or exempt corporations with unrelated business income There is no form for this credit Keep all related docu ments with your records This credit is for reasonable costs including installation of a commercial energy system that is an active solar system a direct use geothermal system a geothermal heat pump system a hydro energy system or a passive solar system Credit is also allowed for a commercial system that uses wind geothermal electricity or bio mass equipment This credit is for sales and use tax paid on hand tools purchased and used or consumed primarily and directly in a farming operation in Utah The credit only applies if the purchase price of a tool is more than $250 This does not include (but is not limited to) the following: golf courses horse racing boat operations highway seeding vehicles registered for highway use hobbies and personal farming etc This line is only for amended returns Enter the amount of tax paid with the original return and/or subsequent payments made prior to ling this amended return less any previous refunds (exclude refund interest) A net refund should be entered as a negative amount (preceded by a minus sign) This will result in the sales factor being considered 10 times in the calculation To amend a previously led return enter on page 1 of the Utah return on the line titled AMENDED RETURN a code number that best corresponds to your REASON FOR AMENDING See codes below To amend a previously led return use the tax forms and instructions for the year you are amending You can get prior year forms and instructions at tax utah gov/forms To avoid penalty the prepayment requirements must be met on or before the original return due date and the return must be led within the six month extension period To claim a refund from a Utah net loss carryback submit form TC 20L Utah Application for Refund from a Corporation Loss Carryback Do not submit an amended return for the purpose of claiming a loss carryback To learn more about ling your corporation return electronically go to tax utah gov/developers/mef To qualify for a refund or credit an amended return must be led by the later of three years after the original return was due or two years from the date the tax was paid A return led before the due date is considered led on the due date To request a Certi cate of Tax Clearance contact the Tax Commission We will prepare form TC 2001 and send it to you to complete Transactions for which an election has been made or considered to be made for federal purposes under IRC 338 are treated as provided in UC 59 7 114 Tropic Unincorporated Exempt Organization or Ex empt Corporation having Unrelated Business Income Attach a copy of your federal form 990 T Unincorporated Exempt Organization or Exempt Cor poration having Unrelated Business Income (these corporations must complete Part 4 of Schedule A and attach a copy of federal form 990 T) Use Schedule J ONLY if completing Schedule A Part 2 Real Estate Investment Trust; Part 4 Unincorpo rated Exempt Organization or Exempt Corporation; or Part 5 One day Target Corporation Use tax due (subtract line 7 from line 6) If less than zero enter 0 $ Use tax rate (decimal from chart) x Use Tax Rate Chart (Effective Dec 31 2012) Use TC 20 Schedule J to calculate the portion of the taxpayer s income attributable to Utah if the taxpayer does business both within and outside of Utah Use these codes on Schedule B Utah Code (UC): le utah gov Utah corporation returns may be led electronically under a joint program between the Internal Revenue Service and the Utah State Tax Commission Utah law (UC 59 1 401) provides penalties for not ling tax returns by the due date not paying tax due on time not making suf cient prepayment on exten sion returns and not ling information returns or sup porting schedules Details of these penalties along with additional penalties are at tax utah gov/billing/ penalties interest and in Pub 58 Utah Interest and Penalties at tax utah gov/forms Utah law provides for suspension of a corporation s right to do business in Utah if it fails to pay taxes due before 5:00 p m on the last day of the 11th month after the due date Utah miscellaneous corporation return sched ules: Attach to TC 20MC the page 2 and applicable schedules A (page 1 or page 2) B/E and/or J Utah Net Loss Carryback: Form TC 20L Utah Application for Refund from a Corporation Loss Car ryback is to be used to carry a Utah net loss from a regular C corporation or a real estate investment trust back three years See page 8 Utah net losses incurred by the target corporation in years beginning on or after Jan 1 1994 may be car ried forward up to 15 years and applied against income on the one day corporation tax return Any remaining target corporation losses are forfeited Utah Of ce of Energy Development PO Box 144845 Salt Lake City UT 84114 4845 801 538 8718 Utah State Tax Commission 210 N 1950 W Salt Lake City UT 84134 0300 Utah State Tax Commission 210 North 1950 West Salt Lake City UT 84134 Utah taxable income for an exempt organization having unrelated business income begins with federal taxable income after deduction of any federal net operating loss Consequently Utah losses are not separately carried forward for these entities If federal Form 990 T is amended for a tax year to claim a federal net operat ing loss carryback from a later year a Utah amended form TC 20MC must also be led for that year in order to claim the loss for Utah purposes Utah Taxpayer Advocate Service Utah uses the Federal Employer Identi cation Number (EIN) as the corporation s identi cation number with the state The Utah Department of Commerce also issues a registration number upon incorporation or quali ca tion in Utah Enter both the EIN and Utah Incorpora tion/Quali cation Number in the proper elds These numbers are used for identi cation of the corporate tax return and any correspondence Verkin St George Wages salaries commissions and other includable compensation paid to employees for personal services must be included in the Utah factor to the extent the services for which the compensation was paid were rendered in Utah Washington City What s New What to Attach and What to Keep Where to File Who Must File Willard Woods Cross Worksheet for Computing Utah Use Tax Yes to forego the Utah net loss carryback or you discover an error on your Utah or federal return after it has been led or You may claim a credit of 24 5 cents per gallon for motor fuel and undyed diesel fuel bought in Utah to operate stationary farm engines and self propelled farm machin ery used solely for commercial nonhighway agricultural use if the fuel was taxed at the time it was bought You may take a credit for sales or use tax paid to another state (but not a foreign country) If the other state s tax rate is lower than Utah s you must pay the difference If the other state s tax rate is more than Utah s no credit or refund is given If sales tax was paid to more than one state complete the worksheet on the following page for each state Add lines 8 on all worksheets and enter the total on line 3 of TC 20MC You must pay use tax on all taxable items bought for storage use or consumption in Utah during the ling year if sales and use tax was not paid to the seller at the time of purchase This includes Internet or catalog purchases If you le a Utah sales tax return include the use tax on that form If you do not le a Utah sales tax return report the use tax on line 3 of TC 20MC your federal return is audited or adjusted by the IRS and the audit or adjustment affects your Utah return You must amend your Utah return within 90 days of the IRS s nal determination Zip Code