Arizona Form 120s - Arizona S Corporation Income Tax Return - 2006

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Arizona S Corporation Income Tax Return

ARIZONA FORM

2006

120S

CHECK ONE:

For the calendar year 2006 or

Original

Amended

M M D D Y Y Y Y

ﬁ scal year beginning

and ending

CHECK ONE:

Mail to: Arizona Department of Revenue, PO Box 29079, Phoenix AZ 85038-9079

Calendar year

Fiscal year

Employer identiﬁ cation number (EIN)

Business telephone number

Name

Please

Number and street or PO Box

Type

Business activity code number

AZ transaction privilege tax number

(from federal Form 1120S)

City, or town, state, and ZIP code

CHECK BOX IF:

Check box if:

This is a ﬁ rst return

Name change

Address change

Federal extension used to ﬁ le return.

Is this the corporation’s ﬁ nal Arizona return?

Yes

FOR DOR USE ONLY

If yes, check one:

Dissolved

Withdrawn

Merged/Reorganized

List EIN of the successor corporation, if any

Does the S corporation conduct business within and without Arizona?

Yes

Will a composite return be ﬁ led on Form 140NR?

Yes

Total number of nonresident individual shareholders

________________

Total number of resident individual shareholders

________________

Total number of entity shareholders (See instruction page 3)

________________

1 Total distributive income (loss) - from federal Form 1120S, Schedule K .................................................................................

Complete lines 2-11 only if the S corporation has excess net passive income or capital gains/built-in gains. An S corporation that is not required to complete lines 2-11

must complete lines 12-32 if the S corporation has a tax liability from the recapture of tax credits.

2 Excess net passive income ..............................................................................................................

3 Capital gains/built-in gains ................................................................................................................

4 Total federal income subject to corporate income tax - add lines 2 and 3.

......

WHOLLY ARIZONA S CORPORATION GO TO LINE 11

5 Nonapportionable or allocable income - attach schedule. MULTISTATE S CORPORATIONS ONLY .............................................

6 Apportionable income - subtract line 5 from line 4. Multistate S corporations only..........................................................................

7 Arizona apportionment ratio - from Schedule B or Schedule ACA......................................

8 Income apportioned to Arizona - line 6 multiplied by line 7. Multistate S corporations only.............................................................

9 Other income allocated to Arizona - attach schedule. Multistate S corporations only .....................................................................

10 Total income attributable to Arizona - add lines 8 and 9 ..................................................................................................................

11 Net income subject to Arizona corporate income tax. Wholly Arizona S corporations - enter amount from line 4

Multistate S corporations - enter amount from line 10 .....................................................................................................................

12 Enter tax - see instructions before completing this line ...................................................................................................................

13 Tax from recapture of tax credits - from Form 300, Part II, line 24...................................................................................................

14 Subtotal - add lines 12 and 13 .........................................................................................................................................................

15 Clean Elections Fund Tax Reduction. Check this box to send $5 to the fund and reduce the tax (line 14) by $5.

Enter the amount of the tax reduction .............................................................................................................................

16 Nonrefundable tax credits - from Arizona Form 300, Part II, line 45 ................................................................................................

17 Credit type - enter form number for each credit claimed.................

18 Tax liability - subtract the sum of lines 15 and 16 from line 14 ........................................................................................................

19 Clean Elections Fund Tax Credit. SEE INSTRUCTIONS BEFORE COMPLETING THIS LINE ......................................................

20 Tax liability after Clean Elections Fund tax credit - subtract line 19 from line 18 .............................................................................

21 Extension payment made with Form 120EXT - see instructions ......................................................

22 Estimated tax payments - see instructions .......................................................................................

23 Total payments - add lines 21 and 22. Amended returns - see instructions.....................................................................................

24 Balance of tax due - If line 20 is larger than line 23, enter balance of tax due. Skip line 25 ............................................................

25 Overpayment of tax - If line 23 is larger than line 20, enter overpayment of tax .............................................................................

26 Penalty and interest .........................................................................................................................................................................

27 Estimated tax underpayment penalty. If Form 220 is attached, check box .................................................................

28 Donation to Citizens Clean Elections Fund - see instructions .........................................................................................................

29 TOTAL DUE - payment must accompany return .............................................................................................................................

30 OVERPAYMENT - see instructions ..............................................................................................................................................

31 Amount of line 30 to be applied to 2007 estimated tax .....................................................................

32 Amount to be refunded - subtract line 31 from line 30 ..................................................................................................................

ADOR 91-0025 (06)