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Idaho Free Printable Form PTE-12, Schedule for Pass-through Owners and Instructions 2023 for 2024 Idaho Idaho Schedule For Pass-Through Owners with Instructions

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Idaho Schedule For Pass-Through Owners with Instructions
Form PTE-12, Schedule for Pass-through Owners and Instructions 2023

Form PTE-12 Schedule of Pass-through Owners 2023 (Required with Forms 41S, 65, or 66) Pass-through entity (PTE) name PTE EIN PTE tax year beginning Contact name Contact phone number Contact email address (a) Owner’s Name (one owner per line) EIN or Social Security Number Filing Code Owner’s Address City, State, and ZIP Code Total Columns (b), (c), (d), and (e)  If you have more than one schedule, enter the total amounts on the last page only. Page EFO00241 09-21-2023 of (b) Idaho Distributable Income (c) Composite Income Tax Paid by Entity PTE tax year ending (d) Income Tax Withheld by Entity (e) ABE Tax Paid by Entity Form PTE-12 — Instructions Schedule of Pass-through Owners General Instructions Form PTE-12 is the reconciliation schedule you include with the entity’s Idaho income tax return (Form 41S, Form 65, or Form 66) as required by Idaho Code section 63-3036B. Include each owner’s complete information whether the owner has Idaho distributable income or a loss. If you’re filing Form 66, refer to the Form 66 Specific Instructions for information on completing Form PTE-12. A pass-through entity includes a partnership, a limited liability company taxed as a partnership, an S corporation, or a trust or estate. Income, loss, deductions, and credits typically flow through and the owner pays the tax. The entity can choose to pay the tax for Idaho nonresident individual owners on the entity’s composite return. The definition of “individual” includes: • Natural persons • Grantor trusts • Qualified subchapter S trusts, and • Single-member LLCs that haven’t elected to be classified as a corporation and are treated as disregarded entities for federal purposes A pass-through entity transacting business in Idaho with income taxable in Idaho has reporting requirements for each pass-through owner type. Resident and part-year resident individuals Only complete columns (a) and (b). • These owners must report the income from the entity on their Idaho individual income tax returns. They can’t be included in a composite return and aren’t subject to withholding. • The entity includes resident and part-year resident individual owner information on the PTE-12. Enter “R” in the Filing Code column. Corporations, partnerships, trusts, and estates Only complete columns (a) and (b). • These owners must report the income on their Idaho return. 2023 Nonresident individual owners with Idaho distributable income of less than $1,000 Only complete columns (a) and (b). • These owners must report the income from the entity on their Idaho income tax returns if they have other Idaho reporting requirements. They aren’t included in a composite return and aren’t subject to withholding. • The entity includes the owner(s) information on the PTE-12. Enter “N” in the Filing Code column. Nonresident individual owners with Idaho distributable income of at least $1,000 An entity has three options: Composite return Only complete columns (a), (b), and (c). • The entity pays the tax for the nonresident individual owner(s) on the entity’s return at the corporate tax rate (5.8%). • The entity includes the nonresident individual owner’s information on the PTE12. Enter “C” in the Filing Code column. Pass-through entity withholding on Form PTE-01 Only complete columns (a), (b), and (d). • The entity pays Idaho income tax withholding computed at the highest individual rate (5.8%) on the nonresident individual owner’s Idaho-source distributable income from the entity. • The entity submits withholding to the Tax Commission using Form PTE-01 for each nonresident individual owner. • The entity includes the nonresident individual owner’s information on the PTE-12. Enter “W” in the Filing Code column. Form PTE-NROA (Nonresident Owner Agreement) Only complete columns (a) and (b). • The nonresident individual owner can submit a signed agreement (PTE-NROA) to the entity. • This allows the nonresident individual owner to file an Idaho return to report the Idaho-source distributable income from the entity and pay the required tax due. • Include the owner information on the PTE-12. Enter “N” in the Filing Code column. EIN00054 09-21-2023  Page 1 of 3 Form PTE-12 — Instructions • If the entity receives the signed agreement from the nonresident individual owner and approves it, the entity doesn’t include the individual in a composite return or pay withholding to the Tax Commission on the owner’s behalf. • The entity includes the nonresident individual owner’s information on the PTE-12. Enter “A” in the Filing Code column. Affected business entities Only complete columns (a), (b), and (e). The entity has elected to be taxed at the entity level. Enter “E” in the Filing Code column. Specific Instructions Heading Enter the entity’s name and Employer Identification Number (EIN) in the space provided. 2023 (continued) By entering the “A” filing code, the entity agrees that it received and approved the agreement from the individual* and acknowledges that the entity is liable for any tax due if the individual doesn’t file a return and pay the tax as agreed. Composite (C) The nonresident individual owner is included in a composite return. If the owner isn’t an individual,* the income can’t be included on a composite return, and code “C” can’t be used. Affected Business Entity (E) The entity has elected to pay tax at the entity level. If the entity uses filing code “E,” it must apply to all owners. Entity’s tax year beginning and ending Enter the beginning and ending date of the entity’s tax year. Not Required (N) The owner isn’t subject to backup withholding. Backup withholding isn’t required on income of less than $1,000. Don’t withhold on the income of owners and beneficiaries if they aren’t natural persons* (including corporations, partnerships, trusts, and estates). Contact name and phone number Enter the name, phone number, and email address of a person we can contact about the information reported on Form PTE-12. Resident (R) The owner is an Idaho resident or part-year resident filing an Idaho individual income tax return. Owner’s name and Social Security number or EIN Enter the name and corresponding Social Security number or EIN of each owner as shown on the Idaho income tax return, one owner per line. Address Enter the owner’s address, city, state, and ZIP code. Column (a) Filing Code Enter one of the following letters corresponding to the filing code for the owner. Agreement (A) The nonresident individual owner has provided an Idaho nonresident owner agreement (Form PTE-NROA). EIN00054 09-21-2023  Withholding (W) The entity is paying backup withholding on behalf of a nonresident individual owner on Form PTE-01. Withholding can’t be paid on behalf of another entity, and code “W” can’t be used. *See General Instructions for definition of “individual.” Column (b) Idaho Distributable Income Enter the Idaho distributable income for all filing codes. This is the amount computed on Form ID K-1, line 34. If the entity is a partnership, guaranteed payments sourced to Idaho are included in the Idaho distributable income of the partner. (See Guaranteed Payments Guidance at tax.idaho.gov). Page 2 of 3 Form PTE-12 — Instructions 2023 (continued) If the beneficiary is an Idaho nonresident, only enter the nonresident beneficiary’s share of the distributed Idaho-source income. Some sources of income may not be Idaho-source income to a nonresident beneficiary. Column (e) ABE Tax Paid by Entity If you enter filing code “E” in column (a), enter in this column: Column (c) Composite Income Tax Paid by Entity If you enter filing code “C” in column (a), enter in this column the tax paid on behalf of the nonresident individual owner by the entity on the composite return. The total for this column should equal either: For a partnership, multiply the entity’s ABE tax paid by the member’s distributive share of income (including guaranteed payments). • Form 41S, line 56 minus lines 51, 53 and 54 or • Form 65, line 53 minus lines 48, 50 and 51 For an S corporation, multiply the entity’s ABE tax paid by the member’s ownership percentage. If the member is an exempt entity, enter zero in this column. The total for this column should equal either: • Form 41S, line 56 minus lines 51, 53 and 54 or • Form 65, line 53 minus lines 48, 50 and 51 Column (d) Income Tax Withheld by Entity If you enter filing code “W” in column (a), enter in this column the tax withheld on behalf of the nonresident individual owner. The total amount reported should match the total amount paid on the PTE-01s. Don’t send payments or PTE-01s with the entity return. Contact us: In the Boise area: (208) 334-7660 | Toll free: (800) 972-7660 Hearing impaired (TDD) (800) 377-3529 tax.idaho.gov/contact EIN00054 09-21-2023  Page 3 of 3
Extracted from PDF file 2023-idaho-form-pte-12.pdf, last modified September 2023

More about the Idaho FORM PTE-12 Corporate Income Tax Tax Return TY 2023

We last updated the Idaho Schedule For Pass-Through Owners with Instructions in February 2024, so this is the latest version of FORM PTE-12, fully updated for tax year 2023. You can download or print current or past-year PDFs of FORM PTE-12 directly from TaxFormFinder. You can print other Idaho tax forms here.


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Other Idaho Corporate Income Tax Forms:

TaxFormFinder has an additional 65 Idaho income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
FORM 41ESR Underpayment of Estimated Tax by Corporations
FORM 65 Idaho Partnership Return of Income
FORM 14 Idaho Water's Edge Election and Consent
FORM 29 Quarterly Idaho Oil and Gas Production Tax Statement
FORM 41 Idaho Corporation Income Tax Return

Download all ID tax forms View all 66 Idaho Income Tax Forms


Form Sources:

Idaho usually releases forms for the current tax year between January and April. We last updated Idaho FORM PTE-12 from the State Tax Commission in February 2024.

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FORM PTE-12 is an Idaho Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Idaho FORM PTE-12

We have a total of twelve past-year versions of FORM PTE-12 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 FORM PTE-12

Form PTE-12, Schedule for Pass-through Owners and Instructions 2023

2022 FORM PTE-12

Form PTE-12, Schedule for Pass-through Owners and Instructions 2022

2021 FORM PTE-12

Form PTE-12, Schedule of Pass-through Owners and Instructions 2021 approved

2020 FORM PTE-12

Form PTE-12, Schedule of Pass-through Owners and Instructions

2019 FORM PTE-12

Form PTE-12, Schedule of Pass-through Owners and Instructions 2019

2018 FORM PTE-12

Form PTE-01, Income Tax Withheld for an Individual Nonresident Owner of a Pass-through Entity

2017 FORM PTE-12

Form PTE-01 - Idaho Income Tax Withheld for an Individual Nonresident Owner of a Pass-through Entity

2016 FORM PTE-12

Form PTE-12 - Idaho Schedule for Pass-through Owners

Idaho Schedule For Pass-Through Owners with Instructions 2015 FORM PTE-12

FORM PTE-12


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