Free 2004 Utah Corporation Franchise or Income Tax Return, TC-20 - Utah

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

2004
TC-20
Rev. 12/04

Utah Corporation Franchise or Income Tax Return

This return is for the calendar year ending Dec. 31, 2004, or fiscal year beginning _________________________ and ending ________________________. FOR AMENDED RETURN - ENTER CODE (1 - 4) from page 5 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 ( ) State Zip code

City

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 UCA §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? ______________________________________________ ______________________________________________ 8 9 10

4a 4b 4c 5.

8. Refund (from Schedule A, line 23) ......................................................................................................... 9. Tax Due (from Schedule A, line 24) ........................................................................................................ 10. Total the penalties and interest listed below and enter on this line
Late filing penalty $____________ Penalty for underpayment of required prepayment $____________

00 00 00

......................................................
Late payment $____________ penalty

Interest $____________ Extension 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 12 13
OFFICE USE ONLY

00 00 00

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

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.
Don't forget to sign & date this return before filing with the Utah State Tax Commission. HERE

SIGN

Signature of officer Preparer's signature

Title

Date signed Date signed

Check here if the Tax Commission may discuss this return with the preparer shown below (see page 6)

Preparer's Social Security no. or PTIN

Paid Firm's name (or yourself if self-employed) Preparer's Section Preparer's complete address (street, city, state, zip)

Preparers' telephone no. Preparer's EIN

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 income 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 ownership or control 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 the 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 ..................................................................................... Extension prepayment Date __________ Check number __________ 3a 3b 3c 3d ....................... 00 00 00 00 3 4 00 00
TC-20 (2) Rev. 12/04

1 2

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) ......................................................... 4. Total prepayments (add lines 1, 2 and 3) Enter here and on Schedule A, line 18e ........ .........

Schedule A - Computation of Utah Net Taxable Income and Total Tax Due
Corporation Name 1. 2. 3. 4. 5. Taxable Year Ending Employer Identification Number 1 2 3 4 Unadjusted income/loss (federal taxable income) before NOL and special deductions (federal form 1120/1120-A) ...... Additions to unadjusted income (Schedule B, line 15) .................................................................................................... Subtractions from adjusted 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 5 6 7 8 9 10 11 12

TC-20 A Rev. 12/04

00 00 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 fraction (100% or Schedule J, line 7) ...................................................................................................... Apportioned income (line 8 multiplied by line 9) .............................................................................................................. Nonbusiness income allocated to Utah (from line 5a, above) .......................................................................................

00 00 00 00 % 00 00 00

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 that 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) .........................................................................

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. Total 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. ........................................

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

TC-20 B-D Rev. 2/04

Schedule B - Additions to Unadjusted 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. Deductions taken previously on the 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 for 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 the 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 Unadjusted Income (See instructions)
1. Intercompany dividend elimination (Caution: See "Instructions for Schedule C") ............................................... 1 2. Foreign dividend gross-up .................................................................................................................................. 2 3. Net capital loss .................................................................................................................................................... 3 4. a. b. c. d. Salary expense related to federal jobs credit ............................................................................................. 4a Qualified and basic research expense related to federal R&D credit ......................................................... 4b Qualified clinical testing expense related to federal orphan drug credit ..................................................... 4c Any decrease in any expense deduction for federal income tax purposes due to claiming any other federal credit (attach schedule) ................................................................................................... 4d 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00

5. Safe harbor lease adjustments ........................................................................................................................... 5 6. 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 unadjusted 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 that are 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 higher technology equipment claimed as a tax credit on Schedule A, line 16 (code 14) ..... 5b ............................................................................................. 6 6. Utah contribution carryforward (attach schedule) ( ( 00

.10
00 00 ) 00 ) 00 00 00 00

7. Total available contributions deduction (subtract lines 5(a) and 5(b) from line 4 and add line 6) ........................ 7 8. Utah allowed contributions deduction (lesser of line 3 or line 7) Enter here and on Schedule A, line 7. ............. 8

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

(See instructions)

TC-20 H, Rev. 12/04
(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 1(a) 1(b) 1(c) 1(d) 2. 3(a) 3(b) 3(c) 3(d) 4. 5. 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 Produce Nonbusiness Income Nonbusiness Income

Total Utah nonbusiness income (add lines 1(a) through 1(d)) ....................................................................................................... Description of direct expenses related to line 1(a) above ____________________________ Enter amount of direct expenses Description of direct expenses related to line 1(b) above ____________________________ Enter amount of direct expenses Description of direct expenses related to line 1(c) above ____________________________ Enter amount of direct expenses Description of direct expenses related to line 1(d) above ____________________________ Enter amount of direct expenses Total direct related expenses (add lines 3(a) through 3(d)) ............................................................................................................ Utah nonbusiness income net of direct related expenses (subtract line 4 from line 2) .................................................................. Assets Used to Produce Utah Nonbusiness Income (Column A) Total Assets (Column B)

Indirect Related Expenses for Utah Nonbusiness Income 6. 7. 8. 9. 10. 11. 12. 13.

Beginning of year ................................................................... 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 14(a) 14(b) 14(c) 14(d) 15. 16(a) 16(b) 16(c) 16(d) 17. 18. Total non-Utah nonbusiness income (add lines 14(a) through 14(d)) ............................................................................................ Description of direct expenses related to line 14(a) above ___________________________ Enter amount of direct expenses Description of direct expenses related to line 14(b) above ___________________________ Enter amount of direct expenses Description of direct expenses related to line 14(c) above ___________________________ Enter amount of direct expenses Description of direct expenses related to line 14(d) above ___________________________ Enter amount of direct expenses Total direct related expenses (add lines 16(a) through 16(d)) ....................................................................................................... Non-Utah nonbusiness income net of direct related expenses (subtract line 17 from line 15) ....................................................... Total Assets Used to Produce Nonbusiness Income (Column A) Total Assets (Column B) 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 Produce Nonbusiness Income Nonbusiness Income

Indirect Related Expenses for non-Utah Nonbusiness Income 19. 20. 21. 22. 23. 24. 25. 26.

Beginning of year ........................................................................... End of year ..................................................................................... Sum of beginning and ending asset values (add lines 19 and 20) Average assets (line 21 divided by 2) ................................. ........... Average total 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

Schedule J - Apportionment Schedule
Corporation Name Taxable Year Ending

TC-20 J, Rev. 12/04
(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 corporate forms TC-20, TC-20S, TC-20REIT and TC-20UBI.
Describe briefly the nature and location(s) of your Utah business activities:

1.

Tangible Property (a) Land ................................................................................ (b) Depreciable assets ........................................................... (c) Inventory and supplies .................................................... (d) Rented property ............................................................... (e) Other tangible property .................................................... 1(a) 1(b) 1(c) 1(d) 1(e) 2

Inside Utah Column A
00 00 00 00 00 00 2(a)

Inside and Outside Utah Column B
00 00 00 00 00 00

2.

Tangible Property (total 1(a) through 1(e)) ...........................

(a) Fraction (line 2, Column A, divided by line 2, Column B) .................................................................... 3. Wages, Salaries, Commissions and Other Includable Compensation .................................................... 3 00

00 3(a) 4(a) 00

(a) Fraction (line 3, Column A, divided by line 3, Column B) .................................................................... 4. Gross Receipts from Business (a) Sales (gross receipts less returns and allowances) ........................................................................... (b) Sales delivered or shipped to Utah purchasers: ....................................... (1) Shipped from outside Utah (2) Shipped from within Utah .......................................... (c) Sales shipped from Utah to: (1) United States Government ........................................ (2) Purchasers in a state(s) where the taxpayer has no nexus. ..
(The corporation is not taxable in the state of purchaser.)

4(b1) 4(b2) 4(c1) 4(c2) 4(d) 4(e) 5

00 00 00 00 00 00 00 5(a) 6 7 00 00 00

(d) Rent and royalty income .................................................. (e) Service income (attach schedule) ................................... 5. Total Sales and Services (total 4(a) through 4(e)) ................

(a) Fraction (line 5, Column A, divided by line 5, Column B) .................................................................... 6. 7. Total of lines 2(a), 3(a) and 5(a) ............................................................................................................... Calculate the Apportionment Fraction to SIX DECIMALS: (line 6 divided by 3 or the number of factors present) ...................................................................................................................................... Enter the amount from line 7 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-20REIT filers - enter on TC-20REIT, line 4 TC-20UBI filers - enter on TC-20UBI, line 2

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

TC-20 M Rev.12/04

Instructions
1. Only corporations incorporated, qualified or doing business in Utah should be listed 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. At least the minimum tax of $100 per corporation 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 included in this return that are doing business, incorporated or qualified in Utah (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