Free Utah 2006 Corporation Franchise or Income Tax Return - Utah


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20061
Utah State Tax Commission 210 N 1950 W, Salt Lake City, UT 84134 (801) 297-2200 or 1-800-662-4335 - tax.utah.gov

2006
TC-20
Rev. 12/06

Utah Corporation Franchise or Income Tax Return
9999

Start Here --->

This return is for the calendar year ending Dec. 31, 2006, or fiscal year beginning _________________________ and ending ________________________. FOR AMENDED RETURN - ENTER CODE (1-4) from page 5 Enter "X" if you filed federal form 8886

Check box(es) if this Corporation name is a new address: Address Physical address Mailing address

Employer Identification Number Utah Incorporation/Qualification Number Telephone Number ( ) Foreign country (if not U.S.)

City

State

Zip code

NOTE: ATTACH ONLY THE FIRST FOUR PAGES OF YOUR FEDERAL RETURN (plus Schedule M-3, if applicable) Corporations included in combined filings must complete Schedule M. 1. Check if this corporation conducted any UTAH business activity during the taxable year ............................................ 2. Check if this corporation joined in a federal consolidated return .................................................................................. 3. Check if this return constitutes (check no more than one box): (see Combined Reports in the General Instructions) a. A "water's edge" combined report .................................................................................................................... or b. A "water's edge" election under UC 59-7-402(2) ............................................................................................ or c. A "worldwide" combined report ........................................................................................................................ 4. If an election has been made or considered to have been made on behalf of any member of the federal affiliated
group during the taxable year, check the appropriate box(es) and attach a schedule showing names of target corporation(s) and details of such transaction(s). See "IRC Sections..." in the General Instructions.

Check box

1 2 3a 3b 3c

a. IRC Section 338 ............................................................................................................................................... b. IRC Section 338 (h)(10) ................................................................................................................................... c. IRC Section 336 (e) .......................................................................................................................................... 5. Check if this return includes one or more financial institutions as defined by Tax Commission Rule R865-6F-32 ............. 6. What is the ultimate U.S. parent's name? 7. What is the ultimate U.S. parent's EIN? _____________________________________________ _____________________________________________

4a 4b 4c 5

8. Refund (from Schedule A, line 23) ......................................................................................................... 8 9. Tax Due (from Schedule A, line 24) ........................................................................................................ 9 10. Total the penalties and interest listed below and enter on this line
Extension penalty $____________ Late payment penalty $____________ Interest

00 00 00

...................................................... 10

Late filing penalty $____________ $____________

11. Utah Use Tax, if $400 or less (see instructions) .................................................................................. 12. TOTAL REFUND (subtract lines 10 and 11 from line 8) 13. TOTAL TAX DUE (add lines 9, 10 and 11) Check the box for each schedule attached. Arrange in order behind this form.
Schedule A Schedule J

11

00 00 00

....................................................................... 12 ................. 13
OFFICE USE ONLY

Make check payable to: UTAH STATE TAX COMMISSION

Schedule B, C and D Schedule M

Schedule H

Under penalties of perjury, I declare to the best of my knowledge and belief, this return and accompanying schedules are true, correct and complete.
Signature of officer Title Date signed SIGN HERE Don't forget to sign & date this return before filing with the Utah State Tax Commission. Preparer's signature Date signed Paid Firm's name (or yourself if self-employed) Preparer's Section Preparer's complete address (street, city, state, zip)
Check here if the Tax Commission may discuss this return with the preparer shown below (see page 7)

Preparer's Social Security no. or PTIN

Preparers' telephone no. Preparer's EIN

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Supplemental Information To Be Supplied By All Corporations
1. What is the date of incorporation ________________________ and in what state? ___________________________ 2. If this corporation is dissolved or withdrawn, see Dissolution or Withdrawal in the General Instructions. 3. Did the corporation at any time during its tax year own more than 50 percent of the voting stock of another corporation or corporations? If yes, provide the following for each corporation so owned: (attach additional pages if necessary) Name of corporation _________________________________________________________________________ Address __________________________________________________________________________________ Date stock acquired _____________________________________ Yes No

Percentage of stock owned __________% 4. Yes No

Is 50 percent or more of the voting stock of this corporation owned by another corporation?

If yes, provide the following information about the corporation: Name of corporation ________________________________________________________________________ Address __________________________________________________________________________________ Percentage of stock held ____________% 5. Yes No Did this corporation or its subsidiary(ies) have a change in control or ownership, or acquire control or ownership of any other legal entity this year?

6. Where are the corporate books and records maintained? ______________________________________________________________________________________________ 7. What is the state of commercial domicile? __________________________________________________________ 8. What is the last year for which a federal examination has been completed? __________________________________ 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. 9. For what years are federal examinations now in progress, or final determination of past examinations still pending? ______________________________________________________________________________________________ 10. For what years have extensions for proposing additional assessments of federal tax been agreed to with the Internal Revenue Service? ______________________________________________________________________________________________

Schedule E - Prepayments of Any Type - Enter the total from line 4 below on line 18e of Schedule A.
1. 2. 3. Overpayment applied from prior year ..................................................................................... 1 Extension prepayment Date __________ Check number __________ 3a 3b 3c 3d ....................... 2 00 00 00 00 00 00
TC-20_2 Rev. 12/06

00 00

Other prepayments (attach additional page(s) if necessary) a. Date ____________ Check number ____________ b. c. d. Date ____________ Date ____________ Date ____________ Check number ____________ Check number ____________ Check number ____________

Total of other prepayments (add lines 3a through 3d) ......................................................... 3 4. Total prepayments (add lines 1, 2 and 3) Enter here and on Schedule A, line 18e ........ ......... 4
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TC-20 A Rev. 12/06

20062
Corporation Name 1. 2. 3. 4. 5.

Schedule A - Computation of Utah Net Taxable Income and Tax Due
Taxable Year Ending Employer Identification Number 1 2 3 4 00 00 00 00

Taxable income (loss) before NOL and special deductions from federal form 1120/1120-A ........................................... Additions to taxable income (Schedule B, line 15) .......................................................................................................... Subtractions from taxable income (Schedule C, line 14) .................................................................................................. Adjusted income (add amounts on lines 1 and 2, then subtract amount on line 3) ......................................................... Nonbusiness income net of related expenses from Schedule H: a. b. Allocated to Utah (from Schedule H, line 13) ...................................................... Allocated outside Utah (from Schedule H, line 26) ............................................. 5a 5b 00 00

Nonbusiness income total (add lines 5a and 5b) ............................................................................................................. 6. 7. 8. 9. 10. 11. 12. Apportionable income before contributions deduction (subtract line 5 from line 4) ......................................................... Utah contributions (from Schedule D, line 8) .................................................................................................................... Apportionable income (subtract line 7 from line 6) .......................................................................................................... Apportionment percentage (enter 1.000000, or Schedule J, line 8 or line 12, if applicable).............................................. Apportioned income (line 8 multiplied by line 9) .............................................................................................................. Nonbusiness income allocated to Utah (from line 5a above) ......................................................................................... Utah Taxable Income/Loss (add lines 10 and 11) If line 12 is a loss and the election was made to forego the federal .......... net operating loss carryback, do you also want to forego the Utah net loss carryback? If an election is not indicated by marking a box, it will be assumed the federal election was not made and the Utah loss will be treated as carryback (see instructions). ..................... Utah net loss carried forward from prior years (attach documentation) .........................................................................

5 6 7 8 9 10 11 12

00 00 00 00

00 00 00

Yes
13 14

No
00 00

13. 14. 15.

Net Taxable Income (subtract line 13 from line 12) ........................................................................................................ Calculation of tax (see instructions) a. b. c. d. Multiply line 14 by .05 ....................................................................................... Minimum tax: $100, or if Schedule M applies, Schedule M, line 5 .................... Enter the greater of 15a or 15b .......................................................................... Interest on installment sales and/or recapture of low-income housing credit ..... 15a 15b 15c 15d 00 00 00 00

Tax amount (add lines 15c and 15d) ............................................................................................................................... 16. Nonrefundable Credits (obtain two-digit code from instructions) CODE 16a 16c 16e Total nonrefundable credits (add lines 16a through 16f) 17. 18. 00 00 00 CODE 16b 16d 16f 00

15

00

The total nonrefundable credits on 00 line 16 cannot exceed the amount 00 on line 15 less line 15(b). 16 17 00 00

....................................................................................... ................................................................

Net tax (subtract line 16 from line 15) Cannot be less than line 15b above. Refundable Credits (obtain two-digit code from instructions) CODE 18a 18c 00 00

CODE 18b 18d 18e 00 00 00 18 19 20 21 22 23 24 1st 2nd 3rd 4th 00 00 00 00 00 00 00

18e. Prepayments (Schedule E, line 4) ......................................................................

Total refundable credits (add lines 18a through 18e) .................................................................................................. 19. 20. 21. 22. 23. 24. 25. Amended returns only (see instructions) ...................................................................................................................... Total refundable credits (add lines 18 and 19) .............................................................................................................. Overpayment - If line 20 is larger than line 17, subtract line 17 from line 20 ................................................................... Amount of overpayment to be applied as advance payment for next taxable year .......................................................... Refund - Subtract line 22 from line 21; enter amount here and on TC-20, line 8 ............................................................ Tax Due - If line 17 is larger than line 20, subtract line 20 from line 17; enter amount here and on TC-20, line 9 .......... Quarterly estimated prepayments meeting exceptions. Check boxes that correspond to the quarterly installments that qualify for exceptions to penalties (see instructions). Attach supporting documentation. ........................................

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Schedules B, C, and D
Corporation Name Taxable Year Ending Employer Identification Number

TC-20 B-D Rev. 12/06

Schedule B - Additions to Taxable Income
2. a. b. c. d. e.

(See instructions)
00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00

1. Interest from state obligations ............................................................................................................................. 1 Income taxes paid to any state ................................................................................................................... 2a Franchise or privilege taxes paid to any state ............................................................................................ 2b Corporate stock taxes paid to any state ...................................................................................................... 2c Any income, franchise or capital stock taxes imposed by a foreign country ................................................ 2d Business and occupation taxes paid to any state ....................................................................................... 2e

3. Safe harbor lease adjustments ........................................................................................................................... 3 4. Capital loss carryover .......................................................................................................................................... 4 5. Federal deductions taken previously on a Utah return ........................................................................................ 5 6. Federal charitable contributions from federal form 1120 or 1120-A, line 19 ......................................................... 6 7. Gain/loss on IRC Sections 338(h)(10) or 336(e) ................................................................................................. 7 8. Adjustments due to basis difference ................................................................................................................... 8 9. Expenses attributable to 50 percent unitary foreign dividend exclusion .............................................................. 9 10. Installment sales income previously reported for federal but not Utah purposes ................................................ 10 11. Refund received from Utah Education Savings Plan .......................................................................................... 11 12. Income/loss from IRC Section 936 corporations ................................................................................................ 12 13. Foreign income/loss for "worldwide" combined filers .......................................................................................... 13 14. Income/loss of unitary corporations not included on federal consolidated return ............................................... 14 15. Total additions (add lines 1 through 14) Enter here and on Schedule A, line 2. ................................................ 15

Schedule C - Subtractions from Taxable Income (See instructions)
1. Intercompany dividend elimination (Caution: See Instructions for Schedule C) ............................................... 1 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 2. Foreign dividend gross-up .................................................................................................................................. 2 3. Net capital loss .................................................................................................................................................... 3 4. a. b. c. d. Federal jobs credit salary reduction ............................................................................................................ 4a Federal research and development credit expense reduction .................................................................... 4b Federal orphan drug credit clinical testing expense reduction ................................................................... 4c Expense reduction for other federal credits (attach schedule) ................................................................... 4d

5. Safe harbor lease adjustments ........................................................................................................................... 5 6. Federal income previously taxed by Utah ........................................................................................................... 6 7. Fifty percent exclusion for dividends from unitary foreign subsidiaries .............................................................. 7 8. Fifty percent exclusion of foreign operating company income ........................................................................... 8 9. Gain or loss on stock sale not recognized for federal purposes (but included in taxable income) when IRC Sections 338(h)(10) or 336(e) have been elected ................................................................ 9 10. Basis adjustments ............................................................................................................................................... 10 11. Interest expense not deducted on federal return under IRC Sections 265(b) or 291(e) ...................................... 11 12. Dividends received from insurance company subsidiaries taxed on their premiums .......................................... 12 13. Payments made to the Utah Educational Savings Plan ...................................................................................... 13 14. Total subtractions (add lines 1 through 13) Enter here and on Schedule A, line 3. ........................................... 14

Schedule D - Utah Contributions Deduction (See instructions)
1. Apportionable income before contributions (from Schedule A, line 6) ................................................................. 1 2. Utah contribution limitation rate (decimal) ........................................................................................................... 2 3. Utah contribution limitation (multiply line 1 by line 2) If line 1 is a loss, no contribution is allowed. ..................... 3 4. Current year contributions ..................................................................................................................................... 4 5. Contributions deducted on federal form 1120 or 1120-A, line 19: a. Contributions to sheltered workshops claimed as a tax credit on Schedule A, line 16 (code 02) ................ 5a b. Deductions for high technology equipment claimed as a tax credit on Schedule A, line 16 (code 14) ....... 5b ............................................................................................. 6 ........................... 7 6. Utah contribution carryforward (attach schedule) ( ( 00

.10
00 00 ) 00 ) 00 00 00 00

7. Total available contributions deduction (subtract lines 5a and 5b from line 4 and add line 6)

8. Utah allowed contributions deduction (lesser of line 3 or line 7) Enter here and on Schedule A, line 7. ............. 8

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Schedule H - Nonbusiness Income Net of Expenses
Corporation Name Taxable Year Ending

(See instructions)

TC-20 H, Rev. 12/06
(For use with TC-20 and TC-20S)

Employer Identification Number

Note: Failure to complete all information required below may result in automatic disallowance of the nonbusiness income claimed.

Utah Nonbusiness Income (Allocated to Utah)
Description of Utah Nonbusiness Income 1a. 1b. 1c. 1d. 2. 3a. 3b. 3c. 3d. 4. 5. Total Utah nonbusiness income (add lines 1a through 1d) ........................................................................................... ................ Description of direct expenses related to line 1a above _____________________________ Enter amount of direct expenses Description of direct expenses related to line 1b above _____________________________ Enter amount of direct expenses Description of direct expenses related to line 1c above _____________________________ Enter amount of direct expenses Description of direct expenses related to line 1d above _____________________________ Enter amount of direct expenses Total direct related expenses (add lines 3a through 3d) .................................................................................................. .............. Acquisition Date of Nonbusiness Asset(s) Payor of Nonbusiness Income Beginning Value of Investment Used to Produce Nonbusiness Income Ending Value of Investment Used to to Produce Nonbusiness Income Nonbusiness Income

Utah nonbusiness income net of direct related expenses (subtract line 4 from line 2) ................................................ ................. Total Assets Used to Indirect Related Expenses for Utah Nonbusiness Income Produce Utah Nonbusiness Income Total Assets (Column A) (Column B) 6. Beginning of year ................................................................................................ 7. 8. 9. 10. 11. 12. 13. End of year .......................................................................................................... Sum of beginning and ending asset values (add lines 6 and 7) Average assets (line 8 divided by 2)...................................................................... Average Utah nonbusiness assets to average total assets (line 9, Column A, divided by line 9, Column B) ................................ Interest expense deducted in computing Utah taxable income (see instructions) ......................................................................... Indirect related expenses for Utah nonbusiness income (line 10 multiplied by line 11) ................................................................. Total Utah nonbusiness income net expenses (subtract line 12 from line 5) Enter here and on: TC-20, Sch. A, line 5a TC-20S, Sch. A, line 6a

Non-Utah Nonbusiness Income (Allocated Outside Utah)
Description of Non-Utah Nonbusiness Income 14a. 14b. 14c. 14d. 15. Total non-Utah nonbusiness income (add lines 14a through 14d) .................................................................................................. 16a. Description of direct expenses related to line 14a above ____________________________ Enter amount of direct expenses 16b. Description of direct expenses related to line 14b above ____________________________ Enter amount of direct expenses 16c. Description of direct expenses related to line 14c above ____________________________ Enter amount of direct expenses 16d. Description of direct expenses related to line 14d above ____________________________ Enter amount of direct expenses 17. 18. Total direct related expenses (add lines 16a through 16d) ............................................................................................................. Non-Utah nonbusiness income net of direct related expenses (subtract line 17 from line 15) ....................................................... Total Assets Used to Indirect Related Expenses for non-Utah Nonbusiness Income Produce Non-Utah Nonbusiness Income Total Assets (Column A) (Column B) 19. Beginning of year ................................................................................................. 20. 21. 22. 23. 24. 25. 26. End of year .......................................................................................................... Sum of beginning and ending asset values (add lines 19 and 20) Average assets (line 21 divided by 2) .................................................................. Average nonbusiness assets to average total assets (line 22, Column A, divided by line 22, Column B) ..................................... Interest expense deducted in computing Utah taxable income (see instructions) ......................................................................... Indirect related expenses for non-Utah nonbusiness income (line 23 multiplied by line 24) .......................................................... Total non-Utah nonbusiness income net of expenses (subtract line 25 from line 18) Enter here and on: TC-20, Sch. A, line 5b TC-20S, Sch. A, line 6b Acquisition Date of Non-Utah Nonbusiness Asset(s) Payor of Non-Utah Nonbusiness Income Beginning Value of Ending Value of Investment Used Investment Used to to Produce Non-Utah to Produce Non-Utah Nonbusiness Income Nonbusiness Income Non-Utah Nonbusiness Income

20063

Schedule J - Apportionment Schedule
Corporation Name Taxable Year Ending

TC-20 J, Rev. 12/06
(for use with TC-20, TC-20S, TC-20REIT & TC-20UBI)

Employer Identification Number

NOTE: Use this schedule only if income is taxable in another state and should be apportioned to Utah. Use this schedule with Utah corporate forms TC-20, TC-20S, TC-20REIT and TC-20UBI.
Describe briefly the nature and location(s) of your Utah business activities:

APPORTIONABLE INCOME FACTORS 1. Property Factor

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

Inside and Outside Utah Column B
00 00 00 00 00

a. b. c. d. e. f. 2. 3.

Land..................................................................................................... Depreciable assets .............................................................................. Inventory and supplies......................................................................... Rented property................................................................................... Other tangible property........................................................................ Total tangible property (total lines 1a through 1e) ...............................



1f


2 _ ._ _ _ _ _ _

00

Property factor (decimal) -- line 1f, column A divided by line 1f, column B...................................................... Payroll Factor a. Total wages, salaries, commissions and other compensation .............



3a

00


4 _ ._ _ _ _ _ _

00

4. 5.

Payroll factor (decimal) -- line 3a, column A divided by line 3a, column B ...................................................... Sales Factor a. b. c. d. e. f. g. h. Sales (gross receipts less returns and allowances)................................................................................... Sales delivered or shipped to Utah purchasers from outside Utah...... Sales delivered or shipped to Utah purchasers from within Utah ........ Sales shipped from Utah to the United States government................. Sales shipped from Utah to purchasers in a state(s) where the taxpayer has no nexus (the corporation is not taxable in the state of purchaser) Rent and royalty income ...................................................................... Service income (attach schedule) ....................................................... Total sales and services (total lines 5a through 5g)............................. 5b 5c 5d 5e 5f 5g 00 00 00 00 00 00 00

5a

00

00 00



5h


6 _ ._ _ _ _ _ _

00

6.

Sales factor (decimal) -- line 5h, column A divided by line 5h, column B ........................................................

EQUALLY-WEIGHTED THREE FACTOR FORMULA Corporations not making the election 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 (line 7 divided 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 electing to double-weight the sales factor must complete lines 9 through 12. 9. Enter "X" in the box if the election is made to double-weight the sales factor................................................... 10. 11. 12. Doubled sales factor -- amount from line 6 times 2 ......................................................................................... Add lines 2, 4 and 10 ........................................................................................................................................ Calculate the Elected Apportionment Fraction to SIX DECIMALS (line 11 divided by 4 or the number of factors present, counting the sales factor twice)........................................................................

9 10 11 12 _ ._ _ _ _ _ _ _ ._ _ _ _ _ _ _ ._ _ _ _ _ _

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Enter the amount from line 8 (or line 12 if the Double-Weighted Sales Factor Election is selected) as follows: TC-20 filers - enter on TC-20, Schedule A, line 9 TC-20REIT filers - enter on TC-20REIT, line 4 TC-20S filers - enter on TC-20S, Schedule A, line 8 TC-20UBI filers - enter on TC-20UBI, line 2

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TC-20 M Rev.12/06

20064

Schedule M - Corporations Included in Combined Filings
Taxable Year Ending Employer Identification Number

Corporation Name

Instructions
1. List only corporations incorporated, qualified or doing business in Utah on this form. 2. Federal schedules are not acceptable as a substitute, since they may include corporations excluded from reporting in Utah. 3. Corporations required to file in Utah but not listed on this form will not be considered to have met the Utah filing requirement. 4. List the filing period only if it is different from the parent corporation's filing period. 5. The minimum tax of $100 per corporation (including parent corporation if incorporated, qualified or doing business in Utah) listed on this schedule must be entered on Schedule A, line 15b Total number of corporations in Utah multiplied by the minimum tax of $100 = $______________________. Enter on Schedule A, line 15b.

List only corporations doing business, incorporated or qualified in Utah included in this combined return (attach additional sheets if necessary).
Employer Identification Number Utah Incorporation/ Qualification Number Common Parent Corporation Name

Employer Identification Utah Incorporation/ Number Qualification Number

Affiliate/Subsidiary Corporation Name

Filing Period (if different from parent) Begin Date End Date

Merge Date

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