Free TC-20MC, Utah Tax Return for Misc. Corporations - Utah

Photo by Randolph Randolph Prawitt Photograph by Prawitt

Contents
TC-20MC General Instructions and Information ........................................................................................................1 Instructions for Completing Return ............................................................................................................................4 Instructions for Schedule A ­ Tax Calculation ...........................................................................................................7 Instructions for Schedule B ­ Refundable Credits .....................................................................................................9 Instructions for Schedule E ­ Prepayments of Any Type .........................................................................................10 Instructions for Schedule J ­ Apportionment Schedule ...........................................................................................10

Online Services
Visit our website for detailed tax information and all Utah State tax forms/instructions.

References
UC: Utah Code IRC: Internal Revenue Code

tax.utah.gov

Pay tax due and make payments online with a credit card or e-check.

Need forms? Print online at tax.utah.gov/forms, or call 801-297-6700 or 1-800-662-4335, ext. 6700 Need more information? Telephone 801-297-2200 or 1-800-662-4335 Webpage tax.utah.gov

paymentexpress.utah.gov

E-Verify for Employers
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 verifies employment eligibility through the Internet. Employers can use E-Verify at www.dhs.gov/E-Verify.

File TC-20 if Corporation filed federal form 1120 File TC-20S if S Corporation filed federal form 1120S File TC-20MC if Corporation filed federal forms 1120-H, 1120-RIC, 1120-REIT, 990-T or 8023
If you need an accommodation under the Americans with Disabilities Act, contact the Tax Commission at 801-297-3811 or Telecommunications Device for the Deaf (TDD) 801-297-2020. Please allow three working days for a response.

TC-20MC General Instructions and Information
WhatÊs New
· New TC-20MC for Miscellaneous Corporations: In previous years, Utah has produced five different tax forms for various specialty corporations: · TC-20HA ­ Homeowners Association with IRC Section 528 Income, · · TC-20R ­ Regulated Investment Company, TC-20REIT ­ Real Estate Investment Trust, Many software vendors are offering electronic corporation return filing. Check with your software provider to see if they support this program. To learn more about filing your corporation return electronically, go to tax.utah.gov/corporate/eleccorp.html.

Corporation Identification Numbers
The Utah State Tax Commission uses the Federal Employer Identification Number (EIN) as the corporation's identification number with the state. The Utah Department of Commerce also issues a registration number upon incorporation or qualification in Utah. Enter both the EIN and Utah Incorporation/Qualification Number in the fields provided. These numbers are used for proper identification of the corporate tax return and any correspondence.

· TC-20UBI ­ Unincorporated Exempt Organization or Exempt Corporation having Unrelated Business Income, and · TC-20(338) ­ One-day Target Corporation with an IRC 338 Election Beginning with the 2008 returns, these five returns have been combined into one return, with Schedule A providing for the unique provisions related to these five types of returns. · Research Credits: The nonrefundable tax credits for increasing research activities in Utah and for investment in machinery and equipment used to conduct research have been changed and now allow the credit in the year of the research expenditures. · Utah Net Loss Carryback: New form TC-20L, Utah Application for Refund from a Corporation Loss Carryback, has been designed to carry a Utah net loss from a regular C corporation or a real estate investment trust back three years. · Reminder -- Apportionment Sales Factor May Be Double-Weighted: Effective for tax years beginning after 2005, an election may be made to double weight the sales factor on Schedule J for apportionment of business income. The election, if made, is irrevocable and remains in effect for five years. See specific instructions for Schedule J. (Applies to TC-20, TC-20S, Real Estate Investment Trusts, Unincorporated Exempt Organizations and Exempt Corporation having Unrelated Business Income, and One-day Target Corporations only.)

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: Division of Corporations Department of Commerce 160 E 300 S PO Box 146705 Salt Lake City, UT 84114-6705 and Master File Maintenance Utah State Tax Commission 210 N 1950 W Salt Lake City, UT 84134-3310

Dissolution or Withdrawal
Corporations that cease to do business in Utah must either dissolve or withdraw the corporation. Corporations incorporated in Utah must file Articles of Dissolution with the Department of Commerce. In addition, Utah corporations should obtain a Certificate of Tax Clearance from the Tax Commission prior to dissolution. Corporations incorporated outside of Utah (foreign corporations) MUST obtain a Certificate of Tax Clearance from the Tax Commission before withdrawing from Utah. Foreign corporations must file an Application for Withdrawal with the Department of Commerce. To request a Certificate of Tax Clearance, complete form TC-2001 and submit it to the attention of the Customer Services Call Unit at the Tax Commission address above. Get the form online at tax.utah.gov/forms. To close related tax accounts (sales, withholding, etc.), send a letter, with the account number(s) and the last date of business, to the attention of Master File Maintenance at the Tax Commission address above.

Electronic Filing for Corporation Returns
Utah corporation returns may be filed electronically under a joint program between the Internal Revenue Service and the Utah State Tax Commission, called the Fed/State 1120 Program. The program is similar to the federal/state individual electronic filing program in which both federal and state information is submitted at the same time. 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 filing electronically. Initially, both C corporations and S corporations may file electronically. The TC-20MC will be added in the future.

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Rounding Off to Whole-Dollar Amounts
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.

One-day Utah Corporation (IRC Section 338)
Transactions for which an election has been made or considered to be made for federal purposes under IRC Section 338 are treated as provided in UC §59-7-114. An election is not available for state purposes unless an election is made or considered to be made for federal purposes. If an election is made or considered to be made for federal purposes under IRC Section 338, other than under Subsection 338(h)(10), the target corporation must file 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).

Who Must File
The Tax Commission does not mail returns for filing corporate taxes to corporations registered with the state. 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.

Homeowners Association
A homeowners association incorporated in Utah (domestic), qualified in Utah (foreign), or doing business in Utah whether qualified or not, must file a Utah form TC-20MC when it has taxable income for federal purposes and has filed federal form 1120-H. Attach a copy of your federal form 1120-H as filed with the IRS to your Utah TC-20MC. Other detail schedules should NOT be included with the initial filing. The Auditing Division of the Tax Commission may request these detail schedules at a later date.

Apportionment Fraction
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. If an election is made for federal purposes under IRC Subsection 338(h)(10) or IRC Section 336(e), do not use form TC-20MC, use form TC-20. Attach a copy of your federal return including the IRC Section 338 gain or loss and federal form 8023 to your Utah TC-20MC.

Regulated Investment Company (RIC)
Every regulated investment company (RIC) or fund of such company, as defined in IRC Sections 851(a) or 851(g), organized under the laws of Utah must file a Utah form TC-20MC. Attach a copy of your federal form 1120-RIC as filed with the IRS to your Utah TC20MC. Other detail schedules should NOT be included with the initial filing. The Auditing Division of the Tax Commission may request these detail schedules at a later date.

Where to File
Send the completed return and any payment to: Utah State Tax Commission 210 N 1950 W Salt Lake City, UT 84134-0300

Real Estate Investment Trust (REIT)
Every real estate investment trust (REIT) or fund of such company, as defined in IRC Section 856, registered or doing business in Utah must file 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 as filed with the IRS to your Utah TC-20MC. Other detail schedules should NOT be included with the initial filing. The Auditing Division of the Tax Commission may request these detail schedules at a later date.

Taxable Year
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 adjusted accordingly for Utah tax purposes. If the taxable year is not a calendar year, enter the beginning and ending dates of the taxable year at the top of the form, where indicated in the "mm/dd/yyyy" format.

Exempt Corporation with Unrelated Business Income
An exempt corporation incorporated in Utah (domestic), qualified in Utah (foreign), or doing business in Utah whether qualified or not, must file a Utah form TC-20MC when it has unrelated business income. Attach a copy of your federal form 990-T as filed with the IRS to your Utah TC-20MC. Other detail schedules should NOT be included with the initial filing. The Auditing Division of the Tax Commission may request these detail schedules at a later date.

Due Date
A return must be filed 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. 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.

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Filing Extension
Corporations are automatically allowed an extension of up to six months to file a return without filing an extension form. This is an extension of time to file the return ­ NOT an extension of time to pay taxes. To avoid penalty, the prepayment requirements must be met on or before the original return due date and the return must be filed within the six-month extension period.

return in Utah if the corporation makes a payment on or before the due date, without the automatic extension, equal to or greater than the minimum tax. Quarterly estimated tax payments are due in four equal payments 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 90 percent of the current year's tax or 100 percent of the prior year's tax. As defined 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:

Minimum Tax
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, homeowners associations, or exempt corporations with unrelated business income.

Installment

Percentage

Prepayment of Minimum Tax
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 scenario, the corporation must pay $100, not 90 percent. Corporations subject to the minimum tax not making the required tax prepayments are subject to a penalty as stated in Penalties on page 3.

1st 22.5 2nd 45.0 3rd 67.5 4th 90.0 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 Section 6655. Estimated tax payments should be made with form TC-559, Utah Corporation Franchise/Income Tax Payment Coupon. Corporations not making the required tax prepayments are subject to a penalty as stated in Penalties, below.

Penalties
Utah law (UC §59-1-401) provides penalties for failure to file tax returns by the due date, failure to pay tax due on time, failure to make sufficient prepayment on extension returns, and failure to file information returns or supporting schedules. Details of these penalties, along with a list of additional penalties, can be found at tax.utah.gov/billing/penaltyinterest.html and in Pub 58, Utah Interest and Penalties, online at tax.utah.gov/forms. The Tax Commission will calculate the penalty for underpayment of required prepayments.

Prepayment Requirements
(Does not apply to One-day Target Corporations electing under Section 338)

Extension Prepayments
The required extension prepayments must equal 90 percent of the current year's tax liability (or the $100 minimum tax, whichever is greater) or 100 percent of the previous year's tax liability. Typically, corporations that make estimated prepayments using form TC-559, Utah Corporation Franchise/Income Tax Payment Coupon, will have complied with the 90-percent requirement and may not need to make additional prepayments to avoid extension penalties.

Exceptions to Penalty on Estimated Tax
Annualized Exception
A corporation may annualize its income before determining the amount of each installment. It is recommended federal guidelines be followed in determining 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.

Recurring Seasonal Exception
A corporation with recurring seasonal income may annualize its income before determining the amount of each installment. It is recommended federal guidelines be followed in determining 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.

Quarterly Payments
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. A corporation is not subject to the estimated tax payment requirements the first year it is required to file a

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Prepayment of Minimum Tax Requirement
See Prepayment of Minimum Tax instructions on page 3. NOTE: The prepayment penalty does not apply to a one-day target corporation under IRC Section 338.

Suspension for Failure to Pay Tax Due
Utah law provides for suspension of the corporation's right to do business in Utah if it fails to pay tax due before 5:00 p.m. on the last day of the 11th month after the due date. If a corporation owes tax and is unable to pay the entire amount owed, the corporation may complete form TC-804B, Payment Agreement Request, available online at tax.utah.gov/forms.

Interest

(in addition to penalties due)

Interest will be assessed on any underpayment from the original due date until any outstanding liability is paid in full. The interest rate for most taxes and fees administered by the Tax Commission for the 2009 calendar year is 5 percent. Get Pub 58, which contains applicable interest rates, online at tax.utah.gov/forms or by calling or writing the Tax Commission.

Instructions for Completing Return
Corporation Name and Address Area
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 Corporation Changes in the General Instructions. If the address is in a foreign country, enter the mailing address where indicated. Enter the foreign city, state/ province and postal code in the city field. Enter only the foreign country name in the field titled "foreign country." · Your federal return is audited or adjusted by the IRS and the audit or adjustment affects your Utah return. You must report such changes or corrected net income within 90 days of the IRS's final determination.

Do not submit an amended return for the purpose of claiming a loss carryback. Submit form TC-20L, Utah Application for Refund from a Corporation Loss Carryback, to claim any refund resulting from a Utah net loss carryback. To qualify for a refund or credit, an amended return must be filed within three years following the date the original return was filed. A return filed before the due date is considered filed on the due date. To amend a previously filed return, enter on page 1 of the Utah return on the line titled "IF AMENDED RETURN" a code number that best corresponds to your "REASON FOR AMENDING." See codes below.

EIN and Utah Incorporation/ Qualification Number
Enter the federal Employer Identification Number (EIN) and Utah Incorporation/Qualification Number issued by the Department of Commerce in the appropriate fields.

Reasons-for-Amending Codes
1 You filed an amended 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 adjustments made). 3 Federal audit adjustments that resulted in changes in federal taxable income, were issued and became final (attach a copy of the IRS adjustment). 4 Other (attach explanation to return). Complete the return, entering the figures as corrected. Enter other amounts as shown on the 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 filing the amended return. Enter the net amount on line 7. A net refund should be entered as a negative amount. Do not submit a copy of your original return with the amended return.

Filing Period
If the return is being filed for a period other than the calendar year ending Dec. 31, 2008, enter the beginning and ending tax period dates at the top, where indicated. Enter both the beginning and ending tax period dates in the format: mm/dd/yyyy.

Amended Returns
To amend a previously filed return, use the tax form and instructions for the year you are amending. You can get prior year forms and instructions at tax.utah.gov/forms. An amended state return must be filed promptly if: · An error is discovered on your Utah or federal return after it has been filed; or

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Federal Form 8886
If you filed federal Form 8886, Reportable Transaction Disclosure Statement, with the Internal Revenue Service, enter an "X" in the box at the top of your corporation return, as indicated.

rate, the grocery food must be substances sold for ingestion or chewing by humans and consumed for taste or nutritional value. The reduced rate does not apply to alcoholic beverages or tobacco. For more information, see Tax Commission Pub 25, available online at tax.utah.gov/forms. Enter use tax of $400 or less. If the amount exceeds $400, the purchaser must obtain a sales and use tax license and to pay the use tax on a Utah Sales and Use Tax Return.

Line-by-Line Instructions
Line 1 ­ Corporation Return Type
Enter an "X" on the line that matches the type of corporation return being filed. The five choices are: · Regulated Investment Company (these corporations must complete Part 1 of Schedule A).

Worksheet for Computing Utah Use Tax
(Retain this worksheet for your records)
1. Total amount of purchases subject to use tax ..........$___________ 2. Use tax rate (decimal from chart) ............................x___________ 3. Multiply line 1 by line 2 .............................................$___________ 4. Amount of purchases of grocery food included on line 1 ................................$___________ 5. Multiply line 4 by .02 ................................................$___________ 6. Subtract line 5 from line 3 ........................................$___________ 7. Credit for sales tax paid to another state .................$___________ 8. Use tax due (subtract line 7 from line 6)___________ Enter ZERO if less than zero ...................................$___________

· Real Estate Investment Trust (these corporations must complete Part 2 of Schedule A). Note: A captive real estate investment trust must file a TC-20 instead of a TC-20MC. For more information, see the TC-20 instructions. · Homeowners Association with IRC Section 528 Income (these corporations must complete Part 3 of Schedule A). · Unincorporated Exempt Organization or Exempt Corporation having Unrelated Business Income (these corporations must complete Part 4 of Schedule A). · One-day Target Corporation with an IRC Section 338 Election (these corporations must complete Part 5 of Schedule A).

Use Tax Rate Chart (Effective Dec. 31, 2008)
.0590 .0690 .0590 .0645 .0690 .0625 .0650 .0655 Beaver County Beaver City Box Elder County Brigham City, Perry, Willard Snowville Cache County Cache Valley Transit, Hyde Park, Lewiston, Millville Hyrum, Logan, N.Logan, Providence, Richmond, River Heights, Smithfield, Nibley Carbon County Price Wellington Daggett County Davis County Bountiful, Centerville Duchesne County Roosevelt Emery County Green River Garfield County Boulder, Panguitch, Tropic Bryce Canyon Grand County Moab Iron County Cedar City Brian Head Juab County Nephi Kane County Kanab, Orderville Millard County Morgan County Piute County Rich County Garden City .0680 .0830 .0590 .0625 .0590 .0620 .0590 .0600 .0620 .0630 .0600 .0740 .0630 .0590 .0620 .0630 .0640 .0665 .0670 .0620 .0645 Salt Lake County Alta San Juan County Blanding Sanpete County Ephraim, Gunnison, Mt. Pleasant Sevier County Aurora, Redmond Richfield Salina Summit County Park City Snyderville Basin Transit Tooele County Erda, Grantsville, Lakepoint, Lincoln, Stansbury Park Tooele City Uintah County Naples Vernal Utah County Alpine, American Fork, Cedar Hills, Highland, Lehi, Lindon, Mapleton, Payson, Pleasant Grove, Provo, Provo Canyon, Salem, Spanish Fork, Springville Orem Wasatch County Heber Independence Midway, Park City East Washington County Hurricane, Ivins, La Verkin, St. George, Santa Clara, Washington City Springdale Wayne County Weber County

Line 2 ­

Tax

Enter the amount of tax calculated in the applicable part on Schedule A. Form TC-20MC, Schedule A must be completed and attached calculating the Utah tax for the corporation. See instructions for Schedule A on page 7 of this booklet.

Line 3 ­

Utah Use Tax

Use tax is required on all taxable items purchased for storage, use or consumption in Utah, if Utah sales and use tax was not paid at the time of purchase. Purchases include amounts paid or charged for taxable purchases made on the Internet or through catalogs. Credit is allowed for sales and use tax paid to another state, but not to a foreign country. If the tax rate in the other state is lower than Utah's rate, the person or consumer must pay the difference. If the tax rate in the other state is greater than Utah's rate, no sales or use tax credit or refund is allowed. If sales taxes were paid to more than one state, complete a worksheet for each state. Enter the sum of the use tax from each worksheet on line 3. Sales and use tax rates vary throughout Utah. Use the chart on this page to find the tax rate for the Utah location where the merchandise was delivered, stored, used or consumed. If the city is not listed, use the county tax rate. The sales tax rate on grocery food purchased through the Internet or by mail order is 2 percent less than the regular sales tax rate. In order to qualify for this reduced

.0590 .0630 .0620 .0690 .0645 .0655 .0590 .0630 .0590 .0770 .0690 .0790 .0800 .0590 .0780 .0590 .0600 .0780 .0590 .0620 .0690 .0790 .0590 .0590 .0590 .0590 .0690

.0655 .0590 .0620 .0700 .0730 .0590 .0620

.0750 .0590 .0680

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Line 4 ­ Line 5 ­

Total Tax Refundable Credits

Add line 2 and line 3. Enter the total of the refundable credits listed on Schedule B.

Paid Preparer Authorization
If the corporation wants to allow the Tax Commission to discuss their 2008 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 authorization applies only to the individual whose signature appears in the Paid Preparer Section of the return. It does not apply to the firm, 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: · Give the Tax Commission any information that is missing from the return,

Line 6 ­

Prepayments from Schedule E

A refundable credit is allowed for advance payments made as quarterly estimated tax payments, prepayments and extension payments (form TC-559). Include any overpayments from a prior year that were 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.

Line 7 ­

Amended Returns Only

This line should only be used for amended returns. Enter the amount of tax paid with the original return and/or subsequent payments made prior to filing this amended return less any previous refunds (exclude refund interest). A net refund should be entered as a negative amount.

· Call the Tax Commission for information about the processing of the return or the status of any refund or payment(s), and · Respond to certain Tax Commission notices about math errors, offsets, and return preparation.

Line 8 ­

Total Refundable Credits and Prepayments Tax Due

Add lines 5 through 7.

Line 9 ­

If line 4 is greater than line 8, subtract line 8 from line 4.

Line 10 ­ Penalties and Interest
Enter the total penalties and interest.

The corporation is not authorizing the preparer to receive any refund, bind the entity to anything (including any additional tax liability), or otherwise represent the entity before the Tax Commission. If the entity wants to expand the preparer's authorization, complete and submit to the Tax Commission form TC-737, Power of Attorney and Declaration of Representative. Form TC-737 is available online at tax.utah.gov/forms. The authorization will automatically end no later than the due date (without regard to extensions) for filing the entity's 2009 tax return. 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.

Line 11 ­ Pay This Amount
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.

Line 12 ­ Overpayment
If line 8 is greater than line 4, subtract line 4 from line 8.

Paid Preparer
The paid preparer must enter his or her name, address, and social security number or PTIN in the section below the corporate officer's signature on the return.

Line 13 ­ Amount of Overpayment to be Applied to Next Taxable Year
All or part of any overpayment shown on line 12 may be applied as an advance payment for the next tax year. Enter amount to be applied (may not exceed the overpayment on line 12).

Preparer Penalties
The person who prepares, presents, procures, advises, aids, assists or counsels another on a return, affidavit, 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 fine from $1,500 to $25,000). See Utah Code Sections 59-1-401(9) and (10).

Line 14 ­ Refund
Subtract line 13 from line 12. This is the amount to be refunded to you.

Line 15 ­ Quarterly Estimated Prepayments Meeting Exception
Check any boxes corresponding to the four quarters to which a penalty exception applies. Refer to Prepayment Requirements in the General Instructions for exceptions to the penalty on underpayments. Attach supporting documentation.

Supplemental Information to be Supplied by All Corporations
All corporations filing a TC-20MC must complete this information located on page 2 of the return.

Signature and Date Lines
Sign and date the return. A refund will not be granted unless the return is signed and dated.

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Instructions for Schedule A ­ Tax Calculation
Part 1 ­ Regulated Investment Company
Remember to mark line 1 on TC-20MC showing this return is for a Regulated Investment Company.

Line 1 ­

REIT Taxable Income

Enter the taxable income (loss) from federal form 1120-REIT, line 22.

Line 2 ­

Income Taxed for Federal Purposes under the IRC but Not Included in Line 1

Line 1 ­

Investment Company Taxable Income

Enter the taxable income from federal form 1120-RIC, line 26.

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. Line 3 ­ Federal Net Operating Loss Deduction Enter the federal net operating loss deduction from federal form 1120-REIT, line 21a.

Line 2 ­

Municipal Interest

Enter the municipal interest as determined by IRC Section 852(b)(2).

Line 4 ­ Line 5 ­

Apportionable Income (Loss) Apportionment Fraction

Line 3 ­

Exclusion of Net Capital Gain

Add lines 1 through 3. Enter 1.000000, or the fraction (decimal) from Schedule J line 8 or line 12, if applicable.

Enter net capital gain exclusion as determined by IRC Section 852(b)(2).

Line 4 ­ Line 5 ­

Net Taxable Income Deduction for Capital Gain Dividends

Add lines 1 through 3. Enter the deduction for capital gain dividends as defined in IRC Section 852(b)(3)(c).

Line 6 ­

Taxable Income (Loss)

Multiply line 4 by line 5. If there is a Utah net loss on line 6, the REIT must carry the loss back (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 taxpayer makes a specific election to carry back the loss for Utah purposes. Enter an "X" in the appropriate box: Yes, to forego the Utah net loss carryback No, to treat the Utah net loss as a carryback If neither box is X'd, 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. Submit form TC-20L, Utah Application for Refund from a Corporation Loss Carryback, to claim any refund resulting from a Utah net loss carryback. Do not submit an amended return for the purpose of claiming a loss carryback.

Line 6 ­

Exempt Interest Dividends

Enter the exempt interest dividends as defined in IRC Section 852(b)(5)(c).

Line 7 ­ Line 8 ­

Utah Taxable Income (Loss) Initial Tax

Subtract the total of lines 5 and 6 from line 4. Multiply line 7 by 5% (.05). This is the initial Utah corporate tax.

Line 9 ­

Minimum Tax

The minimum tax for a regulated investment company is $100.

Line 10 ­ Tax
Enter the greater of the tax on line 8 or the minimum tax on line 9. Carry this tax to line 2 of TC-20MC .

Part 2 ­ Real Estate Investment Trust
Remember to mark line 1 on TC-20MC showing this return is for a Real Estate Investment Trust. Note: For years beginning in 2008, a captive Real Estate Investment Trust must be included as a member of a unitary group filing Utah form TC-20 (not TC-20MC). A real estate investment trust (REIT) is a "captive real estate investment trust" if the shares or beneficial interests of the REIT are not regularly traded on an established securities market, and more than 50% of the voting power or value of the shares or beneficial interests of the REIT are directly, indirectly or constructively owned or controlled by a controlling entity of the REIT.

Line 7 ­

Utah Losses Carried Forward from Prior Years

Losses incurred in years beginning on or after Jan. 1, 1994, which remain after all carrybacks have been applied, may be carried forward for fifteen taxable years following the taxable year of the loss. Attach documentation to the return to support the loss amounts carried forward on line 7.

Line 8 ­

Utah Taxable income (Loss)

Subtract line 7 from line 6.

Page 7

Line 9 ­

Initial Tax

Multiply line 8 by 5% (.05). This is the initial Utah corporate tax.

A loss cannot be carried forward or back for Utah purposes. The loss has already been applied against income on the federal return.

Line 10 ­ Minimum Tax
The minimum tax for a real estate investment company is $100.

Line 4 ­

Tax

Multiply line 3 by 5% (.05). This is the initial Utah corporate tax. Carry this tax to line 2 of TC-20MC. An unincorporated exempt organization or an exempt corporation having unrelated business income is not subject to the $100 minimum tax.

Line 11 ­ Tax
Enter the greater of the tax on line 9 or the minimum tax on line 10. Carry this tax to line 2 of TC-20MC.

Part 3 ­ Homeowners Association with IRC Section 528 Income
Remember to mark line 1 on TC-20MC showing this return is for a Homeowners Association.

Part 5 ­ One-day Target Corporation with an IRC Section 338 Election
Remember to mark line 1 on TC-20MC showing this return is for a One-day Target Corporation with an IRC Section 338 Election.

Line 1 ­

Taxable Income (Loss)

Enter the taxable income (loss) from federal form 1120-H, line 19.

Line 1 ­

Gain (Loss) on Deemed Sale of Assets

Line 2 ­

Tax

Enter the gain or (loss) on the deemed sale of assets included in federal taxable income before any net operating loss from the target corporation.

Multiply line 2 by 5% (.05). This is the initial Utah corporate tax. Carry this tax to line 2 of TC-20MC. A homeowners association is not subject to the $100 minimum tax. Homeowners associations filing federal form 1120-H and Utah TC-20MC are not allowed net operating loss deductions.

Line 2 ­

Apportionment Fraction

Enter the apportionment fraction of the target corporation. 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.

Part 4 ­ Unincorporated Exempt Organization or Exempt Corporation having Unrelated Business Income
Remember to mark line 1 on TC-20MC showing this return is for an Unincorporated Exempt Organization or Exempt Corporation having Unrelated Business Income.

Line 3 ­ Line 4 ­

Utah Apportioned Gain (Loss) Utah Losses Carried Forward from Prior Years

Line 1 multiplied by line 2.

Utah net losses incurred by the target corporation in years beginning on or after Jan. 1, 1994 may be carried forward up to 15 years and applied against income on the one-day corporation tax return. Any remaining target corporation losses are forfeited.

Line 5 ­ Line 6 ­

Utah Taxable Gain (Loss) Initial Tax

Line 1 ­

Unrelated Business Income

Subtract line 4 from line 3. Multiply line 5 by 5% (.05). This is the initial Utah corporate tax.

Enter the unrelated business taxable income from federal form 990-T, line 34.

Line 2 ­

Apportionment Fraction

Enter 1.000000, or the fraction (decimal) from Schedule J, line 8 or line 12, if applicable. 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 apportioning income.

Line 7 ­

Minimum Tax

The minimum tax for a one-day target corporation is $100.

Line 8 ­

Tax

Enter the greater of the tax on line 6 or the minimum tax on line 7. Carry this tax to line 2 of TC-20MC.

Line 3 ­

Utah Taxable Income (Loss)

Line 1 multiplied by line 2.

Page 8

Instructions for Schedule B ­ Refundable Credits
If you claim any of the following refundable credits, write the code and amount of each refundable credit you are claiming on Schedule B. Enter the sum of all refundable credits and carry the total to TC-20MC, line 5. An explanation of each refundable credit is listed below. Use these codes on Schedule B 39 Renewable Commercial Energy Systems Tax Credit 40 Targeted Business Tax Credit 46 Mineral Production Withholding Tax Credit 47 Agricultural Off-highway Gas/Undyed Diesel Fuel Tax Credit 48 Farm Operation Hand Tools Credit To obtain form TC-40TB, certification, and for more information, contact: Governor's Office of Economic Development 324 S State St., Suite 500 SLC, UT 84111 801-538-8775 goed.utah.gov/incentives/enterprise_zones email: [email protected]

(46) Mineral Production Withholding Credit (UC §59-6-102(3))
Enter the total of the mineral production tax withheld as shown on forms TC-675R or federal Schedule K1(s) for 2008. For a fiscal year corporation, the credit is claimed on the corporate return required to be filed during the year following the December closing period of the form TC-675R. Attach copies of form TC-675R or federal Schedule K-1(s) to the return to receive proper credit.

(39) Renewable Commercial Energy Systems Tax Credit (UC §59-7-614)
Form TC-40E, Renewable Residential and Commercial Energy Systems Tax Credits, must be obtained from the Utah Geological Survey with their certification stamp, verifying the credit has been approved and showing the amount of the approved credit. Do not send form TC-40E with your return. Keep the form and all related documents 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 hydroenergy system, or a passive solar system. Credit is also allowed for a commercial system that uses wind, geothermal electricity or biomass equipment. For more information, contact the Utah Geological Survey (UGS), 1594 W North Temple, Box 146100, SLC, UT 84114-6100, telephone 801-537-3300, or online at geology.utah.gov/sep/incentives/index.htm.

(47) Agricultural Off-Highway Gas/Undyed Diesel Fuel Tax Credit (UC §59-13-202)
There is no form for this credit. Keep all related documents with your records. The credit is 24.5 cents per gallon only for motor fuel and undyed diesel fuel purchased in Utah to operate stationary farm engines and self-propelled farm machinery used solely for commercial nonhighway agricultural use that was taxed at the time of purchase. Activities that DO NOT qualify for this credit include, but are not limited to, the following: golf courses, horse racing, boat operations, highway seeding, vehicles registered for highway use, hobbies, and farming for personal use. Credit calculation: Gallons _______ x .245 = Credit _______

(40) Targeted Business Income Tax Credit (UC §63M-1-504)
A business may not claim the targeted business income tax credit in a year the business has claimed either the enterprise zone credit (nonrefundable credit, code 07) or recycling market development zone credit (nonrefundable credit, code 10). A refundable credit is available to businesses providing a community investment project as defined in UC §63-38f-501 through §63-38f-503. Obtain a certified copy of form TC-40TB, Targeted Business Income Tax Credit. Keep this form and all related documents with your records.

(48) Farm Operation Hand Tools Credit (UC §59-7-614.1)
There is no form for this credit. Keep all related documents (receipts, invoices, documents showing amount of sales or use tax paid) with your records. The refundable credit is allowed 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 applies only if the purchase price of a tool is more than $250.

Page 9

Instructions for Schedule E ­ Prepayments of Any Type
Line 1
Enter the total amount of all refunds applied from the prior year to the current year's liability.

Line 3
List the date, check number and amount of all prepayments made for the filing period. Enter the total amount on line 3. Attach additional pages, if necessary.

Line 2
List the date, check number and amount of extension prepayment.

Line 4
Add lines 1, 2 and 3. Enter the total on this line and on TC-20MC, line 6.

Instructions for Schedule J ­ Apportionment Schedule
Use Schedule J only if completing Schedule A, Part 2, Real Estate Investment Trust; Part 4, Unincorporated Exempt Organization or Exempt Corporation; or Part 5, One-day Target Corporation. Determine the apportionment fraction (decimal) by completing this schedule. The factors express a ratio for tangible property in Utah, for wages and salaries in Utah, and for sales in Utah. These factors are added together and divided by the number of factors present (typically 3) to arrive at the Utah apportionment fraction calculated to six decimals.This fraction is to be 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, divide by the number of factors present. For taxable years beginning after 2005, an election may be made to double weight the sales factor in the apportionment calculation. The election, once made, is irrevocable and must be used for five taxable years. The election is made by entering an "X" in the box on line 9 and completing lines 10 through 12 on Schedule J. Income or loss from partnership or joint venture interests must be included in income and apportioned to Utah through application of the three-factor formula consisting of property, payroll and sales. For apportionment purposes, the portion of partnership or joint venture property, payroll and sales to be included in the corporation's property, payroll and sales factors must be computed on the basis of the corporation's ownership interest in the partnership or joint venture. Briefly describe the nature and location(s) of your Utah business activities in the space provided at the top of this schedule. valued at eight times the net annual rental rate. Net annual rental rate is the annual rental rate paid by the corporation less the annual rate received by the corporation from subrentals. 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 reflects the average value of the corporation's property. A supporting schedule should be attached whenever monthly averaging is used. Enter totals of lines 1a through 1e in the respective columns on line 1f.

Line 2 ­

Property Factor Calculation

Determine the property factor (decimal) by dividing line 1f column A by line 1f column B.

Line 3 ­

Payroll Factor

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. Compensation is paid in Utah if: 1. The individual's service is performed entirely within Utah; 2. 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 3. Some of the service is performed in Utah and: a. 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 b. 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.

Lines 1a - 1f ­ Property Factor
Show the average cost value during the taxable year of real and tangible personal property used in the business within Utah (including leased property) in column A and overall (including Utah) in column B. Property owned by the corporation is valued at its original cost. Property rented by the corporation is

Page 10

Amounts reportable for employment security purposes may ordinarily be used to determine the wage factor. Overall wages, including Utah, are listed in column B.

Double-Weighted Sales Factor Election
You may elect to give double-weight to the sales factor in the apportionment calculation. The double-weighted sales factor election is irrevocable and must be used for five years. If you elect this calculation, enter an "X" in the box on line 9 and complete lines 10 through 12.

Line 4 ­

Payroll Factor Calculation

Determine the payroll factor (decimal) by dividing line 3a column A by line 3a column B.

Lines 5a - 5h ­ Sales Factor
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 are in Utah to the extent the services are performed in Utah. 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 office, store, warehouse, factory or other place of storage in Utah and: (1) the purchaser is the United States Government, or (2) the corporation is not taxable in the state of the purchaser. Overall sales, including Utah, are listed in column B. Nexus definition: The jurisdictional link that must be present before a state may tax a corporation upon its activities within a state's borders. NOTE: Exception to the above method for securities brokerage businesses can be found in UC §59-7-319(3). Enter totals of lines 5a through 5g in their respective columns on line 5h.

Line 9 ­

Making the Election

Enter an "X" in the box on line 9 if you elect to doubleweight the sales factor.

Line 10 ­ Double Sales Factor
Multiply the sales factor (decimal) from line 6 above by 2. This will result in the sales factor being considered twice in the calculation.

Line 11 ­ Total Factors
Enter the sum of the factors from lines 2, 4 and 10.

Line 12 ­ Elected Apportionment Fraction
Calculate the elected, double-weighted sales factor apportionment fraction to six decimals by dividing line 11 by the number of factors used (typically 4 ­ property, payroll and two times the sales factor). 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 present (allowing two factors for sales). If the numerator is zero but a denominator is present, include that factor in the number of factors present. Enter the apportionment fraction (decimal) here and on form TC-20MC, Schedule A.

Line 6 ­

Sales Factor Calculation

Determine the sales factor (decimal) by dividing line 5h column A by line 5h column B.

Equally-Weighted Three Factor Formula
If you are not electing the double-weighted sales factor (see lines 9 through 12 below), complete lines 7 and 8. If you are electing the double-weighted sales factor, leave lines 7 and 8 blank.

Line 7 ­ Line 8 ­

Total Factors Apportionment Fraction

Enter the sum of the factors from lines 2, 4 and 6. Calculate the apportionment fraction to six decimals by dividing line 7 by the number of factors used (typically 3 ­ property, payroll and sales). 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 the numerator is zero, but a denominator is present, include that factor in the number of factors present. Enter apportionment fraction (decimal) here and on the form TC-20MC, Schedule A, if not electing the double-weighted sales factor below.

Page 11

Print Form 20841

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TC-20MC

Utah Tax Return for Miscellaneous Corporations

For the 2008 calendar year, or fiscal year______________ to ______________ mm/dd/yyyy mm/dd/yyyy

9999
___ IF AMENDED RETURN - ENTER CODE (1-4) from page 4
Corporation name

_ _ Mark "X" if you filed federal Form 8886 _

Mark "X" if this is a new address: _ __ Physical address _ __ Mailing address

Address City Foreign country (if not U.S.) State ZIP Code

Employer Identification Number: _ _ _ _ _ _ _ _ _ _ _ ________ Utah Incorporation/Qualification Number:
Telephone number

_ _ _ _ _ _ _ _ _ _ _ ________

1. Corporation return type ­ Mark "X" for corporation return type (see instructions): _ __ Regulated Investment Company (complete Schedule A, Part 1) _ __ Real Estate Investment Trust (complete Schedule A, Part 2) _ _ Homeowners Association _ (complete Schedule A, Part 3) ___ One-day Target Corporation with IRC Section 338 Election (complete Schedule A, Part 5) _ _ Unincorporated Exempt Organization or Exempt _ Corporation Having Unrelated Business Income (complete Schedule A, Part 4) 2 ____________ _ _ . 00 _ _ _ 3 ____________ _ _ . 00 _ _ _ 4 ____________ _ _ . 00 _ _ _ 5 ____________ _ _ . 00 _ _ _ 6 ____________ _ _ . 00 _ _ _ 7 ____________ _ _ . 00 _ _ _ 8 ____________ _ _ . 00 _ _ _ 9 ____________ _ _ . 00 _ _ _ 10 ____________ _ _ . 00 _ _ _ 11 ____________ _ _ . 00 _ _ _ 12 ____________ _ _ . 00 _ _ _ 13 ___________ __ _ _ . 00 _ _ 14 ____________ _ _ . 00 _ _ _
USTC USE ONLY ____

2. Tax ­ Enter the amount calculated on Schedule A (see instructions)......................... 3. Utah use tax ­ if $400 or less (see instructions)......................................................... 4. Total tax ­ Add lines 2 and 3....................................................................................... 5. Refundable credits ­ Enter total from Schedule B (must attach Schedule B)............. 6. Prepayments from Schedule E, line 4......................................................................... 7. Amended returns only (see instructions) .................................................................... 8. Total refundable credits and prepayments ­ add lines 5 through 7............................. 9. Tax Due ­ If line 4 is greater than line 8, subtract line 8 from line 4 ........................... 10. Penalties and interest (see instructions) ..................................................................... 11. Pay this amount ­ Add lines 9 and 10. Make check to: Utah State Tax Commission ...... 12. Overpayment ­ If line 8 is greater than line 4, subtract line 4 from line 8.................. 13. Amount of overpayment on line 12 to be applied to next taxable year ....................... 14. Refund ­ Subtract line 13 from line 12....................................................................... 15. Mark "X" for each quarterly estimated prepayment meeting exceptions (attach documentation): ___ 1st ___ 3rd
Under penalties of perjury, I declare to the best of my knowledge and belief, this return and accompanying schedules are true, correct and complete.

___ 2nd ___ 4th

SIGN HERE

Signature of officer Preparer's signature

Title

Date Date Preparer's phone no.

Check here if the Tax Commission may discuss this return with the preparer shown below (see page 6) Preparer's SSN or PTIN Preparer's EIN

Paid Preparer's Name of preparer's firm (or yourself, if self-employed) Section
Preparer's complete address (street, city, state, ZIP)

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TC-20MC_2-E 2008

20842

Supplemental Information to be Supplied by All Miscellaneous Corporations
Note: Utah Code §59-7-519 extends the Statute of Limitations for tax assessment when required information is not fully reported.

1. What is the last year for which a federal examination has been completed? ______________
mm/dd/yyyy

Under separate cover, send a summary and supporting schedules for all federal adjustments and the federal tax liability for each year for which federal audit adjustments have not been reported to the Tax Commission and indicate date of final determination. Forward information to Auditing Division, Utah State Tax Commission, 210 North 1950 West, Salt Lake City, UT 84134-2000. 2. For what years are federal examinations now in progress, and/or final determination of past examinations still pending? _________ _ _ _ _ _
mm/dd/yyyy

_ _ _ _ ______ _ _ _ _
mm/dd/yyyy

______________
mm/dd/yyyy

________ _ _ _ _ _ _
mm/dd/yyyy

3. For what years have extensions for proposing additional assessments of federal tax been agreed to with the Internal Revenue Service? _________ _ _ _ _ _
mm/dd/yyyy

_ _ _ _ ______ _ _ _ _
mm/dd/yyyy

______________
mm/dd/yyyy

________ _ _ _ _ _ _
mm/dd/yyyy

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20843

TC-20MC, Schedule A Tax Calculation
Employer Identification Number: _ __________________

TC-20MC A_1 2008

Page 1

RIC

Part 1: Regulated Investment Company
1. Investment company taxable income from federal form 1120RIC, line 26 .................. 2. Municipal interest as determined in IRC Section 852(b)(2) ........................................ 3. Exclusion of net capital gain as determined in IRC Section 852(b)(2)........................ 4. Net taxable income ­ Add lines 1 through 3 ............................................................... 5. Deduction for capital gain dividends as defined in IRC Section 852(b)(3)(c).............. 6. Exempt interest dividends as defined in IRC Section 852(b)(5)(c) ............................. 7. Utah taxable income (loss) ­ Subtract line 5 and line 6 from line 4 ............................ 8. Initial tax ­ Multiply line 7 by 5% (.05)......................................................................... 9. Minimum tax................................................................................................................ 10. Tax ­ Enter the greater of line 8 or line 9. ................................................................... Enter this amount on TC-20MC, line 2 Attach a copy of federal form 1120-RIC to this return. 1 ___________ _ _ _ . 00 _ _ _ 2 ___________ _ _ _ . 00 _ _ _ 3 ___________ _ _ _ . 00 _ _ _ 4 ___________ _ _ _ . 00 _ _ _ 5 ____________ _ _ . 00 _ _ _ 6 ___________ _ _ _ . 00 _ _ _ 7 ____________ _ _ . 00 _ _ _ 8 ___________ _ _ _ . 00 _ _ _ 9 $100

10 ____________ _ _ . 00 _ _ _

REIT

Part 2: Real Estate Investment Trust
1. REIT taxable income from federal form 1120REIT, line 22 ......................................... 2. Income taxed for federal purposes under the IRC but not included in line 1 above.... 3. Federal net operating loss deduction from federal form 1120REIT, line 21a .............. 4. Apportionable income (loss) ­ Add lines 1 through 3 ................................................. 5. Apportionment fraction (enter 1.000000, or Schedule J line 8 or line 12, if applicable) 1 ___________ _ _ _ . 00 _ _ _ 2 ____________ _ _ . 00 _ _ _ 3 ___________ _ _ _ . 00 _ _ _ 4 ___________ _ _ _ . 00 _ _ _ 5 ___________ _ _ _ _ _ _

6. Taxable income (loss) ­ Multiply line 4 by decimal on line 5....................................... 6 ___________ _ _ _ . 00 _ _ _ If line 6 is a loss and you elected to forego the federal net operating loss carryback, do you want to forego the Utah loss carryback? If no box is marked, the loss will be treated as a carryback. ___ Yes _ _ No _ Use form TC-20L to claim a refund of prior year tax for a loss carryback. 7. Utah losses carried forward from prior years (attach documentation) ........................ 8. Utah taxable income (loss) ­ Subtract line 7 from line 6............................................. 9. Initial tax ­ Multiply line 8 by 5% (.05)......................................................................... 10. Minimum tax................................................................................................................ 11. Tax ­ Enter the greater of line 9 or line 10 .................................................................. Enter this amount on TC-20MC, line 2 Attach a copy of federal form 1120-REIT to this return. 7 ____________ _ _ . 00 _ _ _ 8 ____________ _ _ . 00 _ _ _ 9 ___________ _ _ _ . 00 _ _ _ 10 $100

11 ___________ _ _ _ . 00 _ _ _

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TC-20MC A_2 2008

20844

TC-20MC, Schedule A -- continued
HA
Part 3: Homeowners Association with IRC Section 528 Income
1. Taxable income (loss) from federal form 1120H, line 19............................................. 2. Tax ­ Multiply line 1 by 5% (.05) ................................................................................. Enter this amount on TC-20MC, line 2 Attach a copy of federal form 1120-H to this return.

Page 2

1 ___________ _ _ _ . 00 _ _ _ 2 ___________ _ _ _ . 00 _ _ _

UBI

Part 4: Unincorporated Exempt Organization or Exempt Corporation Having Unrelated Business Income
1. Unrelated business taxable income from federal form 990-T, line 34 ......................... 2. Apportionment fraction (enter 1.000000, or Schedule J line 8 or line 12, if applicable) 3. Utah taxable income (loss) ­ Multiply line 1 by decimal on line 2 ............................... 4. Tax ­ Multiply line 3 by 5% (.05) ................................................................................. Enter this amount on TC-20MC, line 2 Attach a copy of federal form 990-T to this return. 1 ___________ _ _ _ . 00 _ _ _ 2 ____________ _ _ _ _ _ 3 ___________ _ _ _ . 00 _ _ _ 4 ___________ _ _ _ . 00 _ _ _

338

Part 5: One-day Target Corporation with an IRC Section 338 Election
1. Gain (loss) on deemed sale of assets ........................................................................ 2. Apportionment fraction (see instructions) .................................................................... 3. Utah apportioned gain (loss) ­ Multiply line 1 by decimal on line 2 ............................ 4. Utah losses carried forward from prior years. Attach documentation (see instructions) 5. Utah taxable gain (loss) ­ Subtract line 4 from line 3 ................................................. 6. Initial tax ­ Multiply line 5 by 5% (.05)......................................................................... 7. Minimum tax................................................................................................................ 8. Tax ­ Enter the greater of line 6 or line 7 .................................................................... Enter this amount on TC-20MC, line 2 Attach a copy of the federal return and IRS form 8023 to this return. 1 ___________ _ _ _ . 00 _ _ _ 2 ___________ _ _ _ _ _ _ 3 ___________ _ _ _ . 00 _ _ _ 4 ____________ _ _ . 00 _ _ _ 5 ___________ _ _ _ . 00 _ _ _ 6 ___________ _ _ _ . 00 _ _ _ 7 $100

8 ___________ _ _ _ . 00 _ _ _

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20845

TC-20MC, Schedule B Refundable Credits
Employer Identification Number: _ _________________ _

TC-20MC B 2008

Refundable Credits
Enter the two-digit code and the amount of the refundable credit. Code
39 40 46 Renewable commercial energy systems Targeted business tax credit Mineral production withholding tax credit

Code
47 48 Agricultural off-highway gas/undyed diesel fuel Farm operation hand tools

Code _____ _____ _____ _____

Amount ________ _ _ _ . 00 _ _ _ ________ _ _ _ . 00 _ _ _ ________ _ _ _ . 00 _ _ _ ________ _ _ _ . 00 _ _ _ _________ _ _ . 00 _ _ _

Total refundable credits ­ Add all refundable credits......................................................................... Enter this amount on TC-20MC, line 5

TC-20MC, Schedule E Prepayments of Any Type
1. Overpayment applied from prior year ......................................................................... 2. Extension prepayment Date: _ _ _ _ _ Check number: _______... _ _ _ _ 3. Other prepayments (attach additional pages if necessary) a. b. c. d. Date: _ _ _ _ _ _ Check no. _ _ _ _ _ _ Date: _ _ _ _ _ _ Check no. _ _ _ _ _ _ _ _ _ Check no. _ _ _ _ _ _ Date: _ _ _ Date: _ _ _ _ _ _ Check no. _ _ _ _ _ _ 3a ____________ . 00 3b ____________ . 00 3c ____________ . 00 3d ____________ . 00 3 ____________ _ _ . 00 _ _ _ 4 ___________ _ _ _ . 00 _ _ _ 1 ____________ _ _ . 00 _ _ _ 2 ___________ _ _ _ . 00 _ _ _

Total of other prepayments (add lines 3a through 3d) ............................................. 4. Total prepayments (add lines 1, 2 and 3).................................................................... Enter here and on TC-20MC, line 6

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20863

TC-20 Schedule J Apportionment Schedule
Employer Identification Number: _ _________________ _

TC-20 J_1 2008 (Use with TC-20, TC-20S & TC-20MC)

Page 1

Note: Use this schedule only if the corporation does business in Utah and one or more other states and income must be apportioned to Utah. Briefly describe the nature and location(s) of your Utah business activities:

Apportionable Income Factors
1. Property Factor a. Land ........................................................ b. Depreciable assets.................................. c. Inventory and supplies ............................ d. Rented property...................................... e. Other tangible property ........................... f.

Inside Utah Column A
1a _______________ . 00 1b _______________ . 00 1c _______________ . 00 1d _______________ . 00 1e _______________ . 00

Inside and Outside Utah Column B
________ _ _ _ . 00 _ _ _ _ ________ _ _ _ . 00 _ _ _ _ ________ _ _ _ . 00 _ _ _ _ ________ __ _ _ . 00 _ _ _ ________ __ _ _ . 00 _ _ _ ________ _ _ _ . 00 _ _ _ _ 2 __ . __ __ __ __ __ __

Total tangible property ............................ 1f _______________ . 00 (add lines 1a through 1e) 2. Property factor (decimal) ­ line 1f, Column A divided by line 1f, Column B........................... 3. Payroll factor a. Total wages, salaries, commissions ........ 3a _______________ . 00 and other compensation 4. Payroll factor (decimal) ­ line 3a, Column A divided by line 3a, Column B............................ 5. Sales Factor a. Total sales (gross receipts less returns and allowances) ................................................. b. Sales delivered or shipped to Utah ......... purchasers from outside Utah c. Sales delivered or shipped to Utah ......... purchasers from within Utah d. Sales shipped from Utah to the............... United States government e. Sales shipped from Utah to buyers in a ......... state(s) where the taxpayer has no nexus (the corporation is not taxable in the buyer's state) f. Rent and royalty income................................... g. Service income (attach schedule)........... 5b _______________ . 00 5c _______________ . 00 5d _______________ . 00 5e _______________ . 00

_________ _ _ _ . 00 _ _ _ 4 __ . __ __ __ __ __ __

5a ________ _ _ _ . 00 _ _ _ _

5f _______________ . 00 5g _______________ . 00

________ _ _ _ . 00 _ _ _ _ ________ _ _ _ . 00 _ _ _ _ ________ _ _ _ . 00 _ _ _ _ 6 __ . __ __ __ __ __ __

h. Total sales and services.......................... 5h _______________ . 00 (add lines 5a through 5g) 6. Sales factor (decimal) ­ Line 5h, Column A divided by line 5h, Column B ............................ Continue on page 2

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20864

TC-20 J_2 2008 (Use with TC-20, TC-20S & TC-20MC)

TC-20 Schedule J -- continued

Page 2

Equally-weighted Three Factor Formula
Corporations that do not elect to double-weight the sales factor must complete lines 7 and 8. 7. Add lines 2, 4 and 6 ............................................................................................................... 8. Calculate the Apportionment Fraction to SIX DECIMALS ................................................. (divide line 7 by 3 or the number of factors present) 7 __ . __ __ __ __ __ __ 8 __ . __ __ __ __ __ __

Double-weighted Sales Factor Election -- If elected, this option is effective and irrevocable for five years
Corporations that elect to double-weight the sales factor must complete lines 9 through 12. 9. Enter "X" if electing to double-weight the sales factor............................................................ 10. Double sales factor (multiply line 6 by 2) ............................................................................... 11. Add lines 2, 4 and 10 ............................................................................................................. 12. Calculate the Elected Apportionment Fraction to SIX DECIMALS ................................... (divide line 11 by 4 or the number of factors present, counting the sales factor twice) Enter the amount from line 8 (or line 12 if the Double-weighted Sales Factor is elected) as follows: TC-20 filers: Enter on TC-20, Schedule A, line 9 TC-20S filers: Enter on TC-20S, Schedule A, line 8 TC-20MC filers: Enter on Schedule A, where indicated 9 ___ 10 __ . __ __ __ __ __ __ 11 __ . __ __ __ __ __ __ 12 __ . __ __ __ __ __ __

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