Utah Utah Miscellaneous Corporations Income Tax Return
Extracted from PDF file 2019-utah-form-tc-20mc.pdf, last modified August 2008
Utah Miscellaneous Corporations Income Tax ReturnClear form 2019 Utah Tax Return for Miscellaneous Corporations 20941 9998 TC-20MC For calendar year 2019 or fiscal year (mm/dd/yyyy): beginning - and ending - USTC ORIGINAL FORM • Amended Return (code 1-4) • Mark “X” if you filed federal form 8886 Corporation name Address Employer Identification Number City State Foreign country (if not U.S.) Telephone number 1 ZIP + 4 UT Incorporation/Qualification No. Corporation return type - mark “X” for return type (see instructions): • Regulated Investment Company • Homeowners Association • • • Real Estate Investment Trust • Unrelated Business Income One-day Target Corporation with IRC Section 338 Election Other 2 Tax - enter the amount calculated on Schedule A (see instructions) • 2 3 Utah use tax • 3 4 IRC 965(a) deferred foreign income installment amount • 4 5 Total tax - add lines 2 through 4 • 5 6 Refundable credits - enter total from Schedule B (attach Schedule B) • 6 7 Prepayments from Schedule E, line 4 (attach Schedule E) • 7 8 Amended return only (see instructions) • 8 9 Total refundable credits and prepayments (add lines 6 through 8) • 9 10 Tax Due - subtract line 9 from line 5 (not less than zero) • 10 11 Penalties and interest (see instructions) 11 12 Total Due - Pay this amount - add line 10 and line 11 • 12 13 Overpayment - subtract the sum of lines 5 and 11 from line 9 (not less than zero) • 13 14 Amount of overpayment on line 13 to be applied to next taxable year • 14 15 Refund - subtract line 14 from line 13 • 15 16 Mark “X” for each quarterly estimated prepayment meeting an exception (attach documentation): • 1st • 2nd • 3rd • 4th USTC USE ONLY Under penalties of perjury, I declare to the best of my knowledge and belief, this return and schedules are true, correct and complete. SIGN Signature of officer Date Title HERE Preparer’s signature Paid Preparer’s Section “X” if USTC may discuss this return with preparer below: Date Preparer’s telephone number Preparer’s PTIN • Firm’s name and address Preparer’s EIN • 20942 Supplemental Information to be Supplied by All Miscellaneous Corporations TC-20MC 2019 Pg. 2 EIN USTC ORIGINAL FORM • 1 Enter the year-end date of 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. Include the date of final determination. Send the information to: Auditing Division, Utah State Tax Commission, 210 North 1950 West, Salt Lake City, UT 84134-2000 • 2 Enter the year-end dates of years with federal examinations now in progress, and/or final determination of past examinations still pending. / / mm/dd/yyyy • 3 / / mm/dd/yyyy / / mm/dd/yyyy / / mm/dd/yyyy Enter the year-end dates of years for which extensions for proposing additional assessments of federal tax were agreed to with the Internal Revenue Service. / / mm/dd/yyyy / / mm/dd/yyyy / / mm/dd/yyyy / / mm/dd/yyyy Note: Utah Code §59-7-519 extends the Statute of Limitations for tax assessment if federal audit adjustments are not fully reported. 20943 Schedule A - Tax Calculation EIN TC-20MC, Sch. A 2019 Pg. 1 USTC ORIGINAL FORM Part 1: Regulated Investment Company 1 Investment company taxable income (loss) from federal form 1120-RIC, line 26 2 Municipal interest as determined in IRC Section 852(b)(2) 2 3 Exclusion of net capital gain as determined in IRC Section 852(b)(2) 3 4 Net taxable income (loss) - add lines 1 through 3 5 Deduction for capital gain dividends as defined in IRC Section 852(b)(3)(c) 5 6 Exempt interest dividends as defined in IRC Section 852(b)(5)(c) 6 7 Utah taxable income (loss) - subtract the sum of lines 5 and 6 from line 4 • 7 8 Initial tax - multiply line 7 by 4.95% (.0495) (not less than zero) • 8 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 • 4 9 100. • 10 Part 2: Real Estate Investment Trust 1 REIT taxable income (loss) from federal form 1120-REIT, 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 1120-REIT, line 21a • 3 4 Apportionable income (loss) - add lines 1 through 3 • 4 5 Apportionment fraction - enter 1.000000, or TC-20, Schedule J, line 9, 13 or 14, if applicable 6 Taxable income (loss) - multiply line 4 by decimal on line 5 • 6 7 Utah losses carried forward from prior years (attach documentation) • 7 8 Utah taxable income (loss) - subtract line 7 from line 6 • 8 9 Initial tax - multiply line 8 by 4.95% (.0495) (not less than zero) • 9 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. • 1 2 5 10 • 11 100. 20944 Schedule A - Tax Calculation EIN TC-20MC, Sch. A 2019 Pg. 2 USTC ORIGINAL FORM Part 3: Homeowners Association with IRC Section 528 Income 1 Taxable income (loss) from federal form 1120-H, line 19 • 1 2 Tax - multiply line 1 by 4.95% (.0495) (not less than zero) Enter this amount on TC-20MC, line 2. Attach a copy of federal form 1120-H to this return. • 2 Part 4: Unincorporated Exempt Organization or Exempt Corporation Having Unrelated Business Income 1 Unrelated business taxable income (loss) from federal form 990-T, line 38 • 1 2 Apportionment fraction - enter 1.000000, or TC-20, Schedule J, line 9, 13 or 14, if applicable 3 Utah taxable income (loss) - multiply line 1 by decimal on line 2 • 3 4 Tax - multiply line 3 by 4.95% (.0495) (not less than zero) Enter this amount on TC-20MC, line 2 Attach a copy of federal form 990-T to this return. • 4 2 Part 5: One-day Target Corporation with an IRC Section 338 Election 1 Gain (loss) on deemed sale of assets • 1 2 Apportionment fraction (see instructions) 3 Utah apportioned gain (loss) - multiply line 1 by decimal on line 2 • 3 4 Utah losses carried forward from prior years. Attach documentation. (see instructions) • 4 5 Utah taxable gain (loss) - subtract line 4 from line 3 • 5 6 Initial tax - multiply line 5 by 4.95% (.0495) (not less than zero) • 6 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. 2 7 • 8 100. 20945 Schedule B - Refundable Credits TC-20MC, Sch. B 2019 EIN USTC ORIGINAL FORM Refundable Credits Enter the two-digit code and the amount of the refundable credit. Code 39 43 46 47 48 Code Renewable commercial energy systems Pass-through entity withholding Mineral production withholding tax credit Agricultural off-highway gas/undyed diesel fuel Farm operation hand tools Amount • • • • Total refundable credits - add all refundable credits • Schedule E - Prepayments of Any Type TC-20MC, Sch. E 1 Overpayment applied from prior year 1 2 Extension prepayment Date: Check no.: / / Enter the date and amount of any extension prepayment. If paid by check, enter the check number. 2 3 Other prepayments (attach additional pages if necessary) Enter the date and amount of any prepayment for the filing period. If paid by check, enter the check number. 4 a Date: / / Check no.: 3a b Date: / / Check no.: 3b c Date: / / Check no.: 3c d Date: / / Check no.: 3d Total of all prepayments - add lines 3a through 3d 3 Total prepayments - add lines 1 through 3 Enter here and on TC-20MC, line 7 4 20963 Schedule J - Apportionment Schedule TC-20, Sch. J 2019 EIN USTC ORIGINAL FORM Pg. 1 (use with TC-20, TC-20S, TC-20MC and TC-65) Note: Use this schedule only if the entity 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 Column A Inside Utah 1 Property Factor 2 Column B Inside and Outside Utah a Land • 1a • b Depreciable assets • 1b • c Inventory and supplies • 1c • d Rented property • 1d • e Other allowable property (see instructions) • 1e • f Total tangible property - add lines 1a through 1e • 1f • Property factor - divide line 1f, Column A, by line 1f, Column B (to six decimal places) • 2 3 Payroll Factor a 4 Total wages, salaries, commissions and other compensation • 3a Payroll factor - divide line 3a, Column A, by line 3a, Column B (to six decimal places) • • 4 5 Sales Factor 6 a Total sales (gross receipts less returns and allowances) • 5a b Sales delivered or shipped to Utah buyers from outside Utah • 5b c Sales delivered or shipped to Utah buyers from within Utah • 5c d Sales shipped from Utah to the United States government • 5d e Sales shipped from Utah to buyers in states where the corp. has no nexus (corporation not taxable in buyer’s state) • 5e f Rent and royalty income • 5f • g Services and other allowable sales (see instructions) • 5g • h Total sales (add lines 5a through 5g) • 5h • Sales factor - line 5h, Column A, divided by line 5h, Column B (to six decimals) Continued on page 2 • 6 20964 Schedule J - Apportionment Schedule EIN USTC ORIGINAL FORM TC-20, Sch. J 2019 (use with TC-20, TC-20S, TC-20MC and TC-65) Ź 7 All entities - enter your NAICS code here (see instructions) • 7 Apportionment Fraction Optional apportionment taxpayers (see instructions) complete Part 1 or Part 2. Sales factor weighted taxpayers (see instructions) complete Part 3. Part 1: Equally-Weighted Three Factor Formula 8 Total factors - add lines 2, 4 and 6 9 Calculate the Apportionment Fraction to SIX DECIMALS Divide line 8 by 3 (or the number of factors present) 8 • 9 Part 2: Phased-in Sales Factor Formula 10 Enter “X” for phased-in sales factor • 10 11 Sales factor - multiply line 6 by 4 11 12 Total factors - add lines 2, 4 and 11 12 13 Calculate the Apportionment Fraction to SIX DECIMALS Divide line 12 by 6 (or the number of factors present, counting the sales factor four times) • 13 Part 3: Sales Factor Weighted Taxpayers Only (see instructions for those who qualify) 14 Apportionment Fraction - enter the six-decimal sales factor from line 6 Enter the fraction from line 9, line 13 or line 14, above, as follows: TC-20 filers: Enter on TC-20, Schedule A, line 12 TC-20S filers: Enter on TC-20S, Schedule A, line 10 TC-20MC filers: Enter on TC-20MC, Schedule A, where indicated TC-65 filers: Enter on TC-65, Schedule A, line 13 • 14 Pg. 2
2019 TC-20MC, Utah Tax Return for Misc. Corporations
More about the Utah Form TC-20MC Corporate Income Tax Tax Return TY 2019
We last updated the Utah Miscellaneous Corporations Income Tax Return in February 2020, so this is the latest version of Form TC-20MC, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form TC-20MC directly from TaxFormFinder. You can print other Utah tax forms here.
Other Utah Corporate Income Tax Forms:
|Form Code||Form Name|
|Form TC-51||Nexus Questionnaire|
|Form TC-20S||Utah S Corporation Income Tax Return|
|Form TC-559||Corporate/Partnership Payment Coupon|
|Form TC-65||Utah Partnership/Limited Liability Partnership/Limited Liability Company Return|
|Form TC-549||Fiduciary Income Tax Return Payment Coupon|
Utah usually releases forms for the current tax year between January and April. We last updated Utah Form TC-20MC from the State Tax Commission in February 2020.
Form TC-20MC is an Utah 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 Utah Form TC-20MC
We have a total of nine past-year versions of Form TC-20MC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2019 TC-20MC, Utah Tax Return for Misc. Corporations
2018 TC-20MC, Utah Tax Return for Misc. Corporations
2017 TC-20MC, Utah Tax Return for Misc. Corporations
2016 TC-20MC, Utah Tax Return for Misc. Corporations
2015 TC-20MC, Utah Tax Return for Misc. Corporations
2014 TC-20MC, Utah Tax Return for Misc. Corporations
2013 TC-20MC, Utah Tax Return for Misc. Corporations
2012 TC-20MC, Utah Tax Return for Misc. Corporations
2011 TC-20MC, Utah Tax Return for Misc. Corporations
While we do our best to keep our list of Utah Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.