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Utah Free Printable TC-20S forms, Utah S Corporation Tax for 2021 Utah Utah S Corporation Income Tax Return

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Utah S Corporation Income Tax Return
TC-20S forms, Utah S Corporation Tax

Clear form 2020 Utah S Corporation Return 20021 9998 TC-20S For calendar year 2020 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 ZIP + 4 UT Incorporation/Qualification No. Foreign country (if not U.S.) Telephone number Attach a copy of your federal 1120S, pages 1 through 5 (and Schedules M-3 and/or form 1125-A, if applicable). Utah TC-20S Schedules A, H, J and N are not required if all shareholders are Utah resident individuals. 1 2 If this is the first S corporation return, enter the effective date (mm/dd/yyyy) and attach IRS designation letter Nonresident Individuals Resident IRC 501 and and Other Pass-through Individuals Other Exempt Entity Taxpayers a. Number of shares • • • b. Percentage of shares / • 1 / Total 2a 2b 3 If this corporation conducted any Utah business activity during the taxable year, enter “X” • 3 4 If this corporation elected to treat any subsidiary as a Qualified Subchapter S Subsidiary, enter “X” Enter on Sch. M each Qualified Subchapter S Subsidiary doing business, incorporated or qualified in Utah. • 4 5 Total tax - enter the amount from Schedule A, line 15. If Schedule A is not required, enter zero. • 5 6 Total payments - enter the amount from Schedule A, line 18. If Schedule A is not required, enter zero. • 6 7 Tax Due - subtract line 6 from line 5 (not less than zero) • 7 8 Penalties and interest (see instructions) 9 Total Due - Pay this amount - add line 7 and line 8 100% 8 • 9 10 Overpayment - subtract the sum of line 5 and line 8 from line 6 (not less than zero) 10 11 Amount of overpayment on line 10 to be applied to next taxable year • 11 12 Refund - subtract line 11 from line 10 • 12 USTC USE ONLY Under penalties of perjury, I declare to the best of my knowledge and belief, this return and accompanying 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 • Supplemental information to be Supplied by All S Corporations 20022 TC-20S 2020 EIN Pg. 2 USTC ORIGINAL FORM 1 If this S corporation owns more than 50 percent of the voting stock of another corporation, provide the following for each corporation so owned. Attach additional pages if necessary. Ź EIN % of stock owned / / / Corporation name / End date (if diff from S corp.) Merge date Yes No Is this corporation doing business in Utah? EIN % of stock owned Corporation name Ź / / / / End date (if diff from S corp.) Merge date Yes No Is this corporation doing business in Utah? EIN % of stock owned Corporation name Ź / / / / End date (if diff from S corp.) Merge date Yes No Is this corporation doing business in Utah? EIN % of stock owned Corporation name Ź / / / End date (if diff from S corp.) • / Yes No Is this corporation doing business in Utah? Merge date 2 Enter the location where the corporate books and records are maintained: 3 Enter the state or country of commercial domicile: 4 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 • 5 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 • 6 / / mm/dd/yyyy / / mm/dd/yyyy / / mm/dd/yyyy Enter the year-end dates of years in 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. 20023 Schedule A - Utah Taxable Income for Pass-through Entity Taxpayers TC-20S, Sch. A EIN 2020 USTC ORIGINAL FORM 1 Federal income (loss) reconciliation from federal form 1120S, Schedule K, line 18 • 1 2 Contributions from federal form 1120S, Schedule K, line 12a • 2 3 Foreign taxes from federal form 1120S, Schedule K, line 14p • 3 4 Recapture of Section 179 deduction from all federal Schedules K-1, box 17, code L • 4 5 Total income (loss) - add lines 1 through 4 • 5 6 Utah net nonbusiness income from TC-20, Schedule H, line 14 • 6 7 Non-Utah net nonbusiness income from TC-20, Schedule H, line 28 • 7 8 Add lines 6 and 7 9 Apportionable income (loss) - subtract line 8 from line 5 10 Apportionment fraction - enter 1.000000, or TC-20, Schedule J, line 9, 13 or 14, if applicable 8 • 9 10 11 Utah apportioned business income (loss) - multiply line 9 by line 10 • 11 12 Total Utah income (loss) allocated to pass-through entity taxpayers - add line 6 and line 11 • 12 13 Total pass-through withholding tax - enter the total amount from Schedule N, column I Note: This amount must be paid by the due date of the return, without extensions. • 13 14 Utah use tax • 14 15 Total tax - add line 13 and line 14 Enter here and on TC-20S, line 5 • 15 16 Prepayments from Schedule E, line 4 (do not include any pass-through withholding tax - see instructions) • 16 17 Amended returns only (see instructions) • 17 18 Total payments - add line 16 and line 17 Enter here and on TC-20S, line 6 • 18 20024 Schedule E - Prepayments of Any Type TC-20S, Sch. E 2020 EIN Do not include any pass-through withholding or refundable credits on this schedule. 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-20S, Schedule A, line 16 4 20061 Schedule H - Utah Nonbusiness Income Net of Expenses EIN USTC ORIGINAL FORM TC-20, Sch. H 2020 Pg. 1 (use with TC-20, TC-20S and TC-65) Note: Failure to complete this form may result in disallowance of the nonbusiness income. Part 1 - Utah Nonbusiness Income (nonbusiness income allocated to Utah) A B C Acquisition Date of Beginning Value of Investment Ending Value of Investment Nonbusiness Income Utah Nonbusiness Used to Produce Utah Used to Produce Utah Asset(s) Nonbusiness Income Nonbusiness Income 1a / / 1b / / 1c / / 1d / / 1e / / 2 Total of column C and column D 3 Total Utah nonbusiness income - add column E for lines 1a through 1e 4a Description of direct expenses related to: Line 1a above 4b Line 1b above 4c Line 1c above 4d Line 1d above 4e Line 1e above 5 D Type of Utah E Utah Nonbusiness Income Amount of Direct Expense Total direct related expenses - add lines 4a through 4e 6 Utah nonbusiness income net of direct related expenses - subtract line 5 from line 3 Column A Indirect Related Expenses for Total Assets Used to Produce Utah Nonbusiness Income Utah Nonbusiness Income 7 Beginning-of-year assets (enter in Column A the amount from line 2, col. C) 8 End-of-year assets (enter in Column A the amount from line 2, col. D) 9 Sum of beginning and ending asset values (add line 7 and line 8) 10 Average asset value - divide line 9 by 2 • Column B Total Assets 11 Utah nonbusiness assets ratio - line 10, Column A, divided by line 10, Column B (to four decimal places) 12 Interest expense deducted in computing Utah taxable income (see instructions) 13 Indirect related expenses for Utah nonbusiness income - multiply line 11 by line 12 14 Total Utah nonbusiness income net of expenses - subtract line 13 from line 6 Enter on: TC-20, Schedule A, line 6; TC-20S, Schedule A, line 6; or TC-65, Schedule A, line 9 • 20062 Schedule H - Non-Utah Nonbusiness Income Net of Expenses EIN TC-20, Sch. H 2020 Pg. 2 (use with TC-20, TC-20S and TC-65) Part 2 - Non-Utah Nonbusiness Income (nonbusiness income allocated outside Utah) A B C D E Type of Non-Utah Acquisition Date of Beginning Value of Investment Ending Value of Investment Non-Utah Nonbusiness Nonbusiness Income Non-Utah Used to Produce Non-Utah Used to Produce Non-Utah Income Nonbusiness Income Nonbusiness Income Nonbusiness Asset(s) 15a / / 15b / / 15c / / 15d / / 15e / / 16 Total of column C and column D 17 Total non-Utah nonbusiness income - add column E for lines 15a through 15e Description of direct expenses related to: 18a Line 15a above 18b Line 15b above 18c Line 15c above 18d Line 15d above 18e Line 15e above Amount of Direct Expense 19 Total direct related expenses - add lines 18a through 18e 20 Non-Utah nonbusiness income net of direct related expenses - subtract line 19 from line 17 Column A Column B Indirect Related Expenses for Total Assets Used to Produce Total Assets Non-Utah Nonbusiness Income Non-Utah Nonbusiness Income 21 Beginning-of-year assets (enter in Column A the amount from line 16, col. C) 22 End-of-year assets (enter in Column A the amount from line 16, col. D) 23 Sum of beginning and ending asset values (add line 21 and line 22) 24 Average asset value - divide line 23 by 2 • 25 Non-Utah nonbusiness assets ratio - line 24, Column A, divided by line 24, Column B (to four decimal places) 26 Interest expense deducted in computing non-Utah taxable income (see instructions) 27 Indirect related expenses for non-Utah nonbusiness income - multiply line 25 by line 26 28 Total non-Utah nonbusiness income net of expenses - subtract line 27 from line 20 Enter on: TC-20, Schedule A, line 7; TC-20S, Schedule A, line 7; or TC-65, Schedule A, line 10 • 20063 Schedule J - Apportionment Schedule TC-20, Sch. J 2020 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 20064 Schedule J - Apportionment Schedule EIN USTC ORIGINAL FORM TC-20, Sch. J 2020 (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 8 11 12 Total factors - add lines 2, 4 and 11 12 13 Calculate the Apportionment Fraction to SIX DECIMALS Divide line 12 by 10 (or the number of factors present, counting the sales factor eight 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 20025 Schedule K - Shareholders’ Pro Rata Share Items TC-20S, Sch. K 2020 EIN USTC ORIGINAL FORM Ź Number of Schedules K-1 attached to this return • Federal Amount 1 Ordinary business income (loss) 2 Net rental real estate income (loss) 3 Other net rental income (loss) Utah Amount Income (Loss) 4a U.S. government interest income 4b Municipal bond interest income 4c Other interest income 5 Ordinary dividends 6 Royalties 7 Net short-term capital gain (loss) 8 Net long-term capital gain (loss) 9 Net Section 1231 gain (loss) 10 Recapture of Section 179 deduction 11 Other income (loss) (describe) 12 Section 179 deduction 13 Contributions Deductions 14 Investment interest expense 15 Section 59(e)(2) expenditures 16 Foreign taxes paid or accrued Utah Credits 17 Other deductions (describe) 18 Utah nonrefundable credits - enter the name of the Utah credit Code Credit Amount 19 Utah refundable credits - enter the name of the Utah credit Code Credit Amount 20 Total Utah tax withheld on behalf of all shareholders from Schedule N, column I 20026 Schedule K-1 - Shareholder’s Share of Utah Income, Deductions and Credits TC-20S, Sch. K-1 2020 USTC ORIGINAL FORM S Corporation Information Shareholder’s Share of Utah Income, Deductions and Credits A S-corporation’s EIN: 1 Utah ordinary business income (loss) B S-corporation’s name, address, city, state, and ZIP code: 2 Utah net rental real estate income (loss) 3 Utah other net rental income (loss) Shareholder Information 4a 4b 4c Utah U.S. government interest income Utah municipal bond interest income Utah other interest income C Shareholder’s SSN or EIN: 5 Utah ordinary dividends D Shareholder’s name, address, city, state, and ZIP code: 6 Utah royalties 7 Utah net short-term capital gain (loss) 8 Utah net long-term capital gain (loss) 9 Utah net Section 1231 gain (loss) 10 Utah recapture of Section 179 deduction 11 Utah other income (loss) (describe) 12 Utah Section 179 deduction 13 Utah contributions 14 Utah investment interest expense 15 Utah Section 59(e)(2) expenditures 16 Foreign taxes paid or accrued 17 Utah other deductions (describe) 18 Utah nonrefundable credits - enter name Code Credit Amount 19 Utah refundable credits - enter name Code Credit Amount 20 Utah tax withheld on behalf of shareholder “X” if withholding waiver applied for E Percent of ownership: Shareholder’s Share of Apportionment Factors Utah Total F Property $ $ G Payroll $ $ H Sales $ $ Other Information Note: To complete lines 1 through 17: * Utah residents, enter the amounts from federal Schedule K-1. * Utah nonresidents, see instructions to calculate amounts. All filers complete lines 18 through 20, if applicable. 20027 Schedule M - Qualified Subchapter S Subsidiaries Incorporated, Qualified & Doing Business in Utah TC-20S, Sch. M 2020 EIN Instructions * • * List ONLY qualified subchapter S subsidiaries incorporated, qualified or doing business in Utah. Attach additional Schedules M if needed. Federal schedules may not be substituted, since they may include corporations excluded from Utah reporting. Corporations required to file in Utah but not listed on this form will not be considered to have met the Utah filing requirement. Subsidiary Corporations • EIN Utah Incorporation/ Qualification Number Name Acquisition Date (mm/dd/yyyy) 1 / / 2 / / 3 / / 4 / / 5 / / 6 / / 7 / / 8 / / 9 / / 10 / / 11 / / 12 / / 13 / / 14 / / 15 / / 16 / / 17 / / 18 / / 19 / / 20 / / 21 / / 22 / / 23 / / 20028 Schedule N - Pass-through Entity Withholding Tax TC-20S, Sch. N 2020 EIN An S corporation with nonresident individual shareholders, resident/nonresident business shareholders, or resident/nonresident trust or estate shareholders must complete the information below to calculate the Utah withholding tax for these shareholders. WITHHOLDING WAIVER CLAIMED under §59-10-1403.2(5): If shareholders will pay the Utah tax on their own returns: • Enter "1" to claim a waiver for ALL shareholders (enter "X" in column B and "0" in column F for all shareholders) Enter "2" to claim a waiver for SOME shareholders (enter "X" in column B and "0" in column F for those shareholders claimed) See Schedule N instructions for liability responsibilities when claiming a waiver. A Name of shareholder E Income (loss) F 4.95% of income - G Mineral production I B Withholding waiver for this shareholder attributable E times .0495 withholding credit (enter “X” in column B and “0” in column F) to Utah (not less than zero) C SSN or EIN of shareholder H Upper-tier passD % of ownership in S Corp. by shareholder through withholding #1 A E F G I • B • C H D #2 A E F • B • C D E F • B E F I D E F • B G I H D #6 A E F • B G I H D #7 A E • B • C G H #5 A • C I D • B • C G H #4 A • C I H #3 A • C G F G H D Report the shareholder’s pass-through withholding tax from column I on Schedule K-1, line 20 Total Utah withholding tax to be paid by this corporation: Enter on TC-20S, Sch. A, line 13 and on Sch. K, line 20. I Withholding tax to be paid by this corporation F less G and H (not less than 0) 25001 Credits Received from Upper-tier Pass-through Entities and Mineral Production Withholding Tax Credit on TC-675R TC-250 2020 EIN (use with TC-20S, TC-41 and TC-65) USTC ORIGINAL FORM Part 1 - Utah Nonrefundable Credits Received from Upper-tier Pass-through Entities Upper-tier pass-through entity EIN from Utah Sch. K-1, box “A” Name of upper-tier pass-through entity from Utah Schedule K-1, box “B” Credit Code UT nonrefundable credit from Utah Sch. K-1 1 2 3 4 5 6 Enter these credits on Utah TC-20S Sch. K, line 18, or TC-41 Sch. A, Part 3 or 4, or TC-65 Sch. K, line 17, using the credit code above. Combine amounts for the same codes. Part 2 - Utah Refundable Credits Received from Upper-tier Pass-through Entities Upper-tier pass-through entity EIN from Utah Sch. K-1, box “A” Name of upper-tier pass-through entity from Utah Schedule K-1, box “B” Credit Code UT refundable credit from Utah Sch. K-1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Enter these credits on Utah TC-20S Sch. K, line 19, or TC-41 Sch. A, Part 5, or TC-65 Sch. K, line 18, using the credit code above. Combine amounts for the same codes. Part 3 - Utah Mineral Production Withholding Tax Credit Received on TC-675R Producer EIN from TC-675R, box “2” Producer’s name from TC-675R, box “1” Mineral production withholding from TC-675R, box “6” 1 2 3 4 5 6 7 8 9 10 Total Utah mineral production withholding tax credit received on TC-675R Enter total credit on Utah TC-20S Sch. K, line 19, or TC-41 Sch. A, Part 5, or TC-65 Sch. K, line 18, using credit code 46.
Extracted from PDF file 2020-utah-form-tc-20s.pdf, last modified August 2008

More about the Utah Form TC-20S Corporate Income Tax Tax Return TY 2020

We last updated the Utah S Corporation Income Tax Return in February 2021, so this is the latest version of Form TC-20S, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form TC-20S directly from TaxFormFinder. You can print other Utah tax forms here.

Other Utah Corporate Income Tax Forms:

TaxFormFinder has an additional 55 Utah income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form TC-559 Corporate/Partnership Payment Coupon
Form TC-51 Nexus Questionnaire
Form TC-20S Utah S Corporation Income Tax Return
Form TC-20MC Utah Miscellaneous Corporations Income Tax Return
Form TC-20 Utah Corporation Franchise and Income Tax Return

Download all UT tax forms View all 56 Utah Income Tax Forms


Form Sources:

Utah usually releases forms for the current tax year between January and April. We last updated Utah Form TC-20S from the State Tax Commission in February 2021.

Show Sources >

Form TC-20S 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-20S

We have a total of ten past-year versions of Form TC-20S in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2020 Form TC-20S

TC-20S forms, Utah S Corporation Tax

2019 Form TC-20S

2019 TC-20S forms, Utah S Corporation Tax

2018 Form TC-20S

2018 TC-20S forms, Utah S Corporation Tax

2017 Form TC-20S

2017 TC-20S, Utah S Corporation Tax

2016 Form TC-20S

2016 TC-20S forms, Utah S Corporation Tax

2015 Form TC-20S

2015 TC-20S forms, Utah S Corporation Tax

Utah S Corporation Income Tax Return 2014 Form TC-20S

2014 TC-20S, Utah S Corporation Tax Return

Small Business Corporation Franchise or Income Tax Return 2013 Form TC-20S

2013 TC-20S forms, Utah S Corporation Tax

2012 Form TC-20S

2012 TC-20S, Utah S Corporation Tax Return

2011 Form TC-20S

2011 TC-20S forms, Utah S Corporation Tax


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