The Utah State Tax Commission Instruction printable pdf download

or rented, and that do not maintain an inventory or

General Instructions

have employees located at a place of business in

and Information

Utah. For example: A foreign corporation with

goods maintained in Utah in a public warehouse, or

a trucking company operated in or through Utah by

Corporation Identification Numbers

a foreign corporation not qualified for the privilege

of doing business in Utah, is subject to the income

rather than franchise tax. Corporate income tax

The Utah State Tax Commission will use the Em-

filers use form TC-20. A $100 minimum tax applies

ployer Identification Number (EIN) as the

to the corporate income tax.

corporation’s taxpayer identification with the state.

Taxable Year

The Utah Department of Commerce issues a reg-

istration number upon incorporation or qualification

The taxable year for Utah Corporation franchise or

in Utah. Enter the Utah Incorporation/Qualification

income tax purposes must match the taxable year

number in the field provided. Make sure you pro-

used for federal income tax purposes. When the

vide your EIN and Utah Incorporation/Qualification

taxable year changes for federal purposes, the

Number for proper identification of the corporate

taxable year must be adjusted accordingly for Utah

tax return or any correspondence.

corporation franchise or income tax purposes. Refer

Rounding Off to Whole-Dollar Amounts

to “Filing Return Where Period Changed,” below. If

the taxable year is not a calendar year, enter the

All entries must be reported in whole-dollar amounts.

beginning and ending dates of the taxable year at

Liability for Filing and Paying Returns

the top of form TC-20 where indicated.

Filing Return Where Period Changed

Tax Forms

When changes are made to the taxable year, as

The Tax Commission supplies returns for filing of

indicated in “Taxable Year,” above, a short period

corporate taxes to corporations properly registered

return is required. The short period return must

with the state. If an original return is received by the

cover the period of less than 12 months between

corporation, call (801) 297-6700 to request forms.

the prior taxable year-end and the new taxable

year-end. The tax rates as provided in UCA §59-7-

NOTE: Please review “Supporting Federal Infor-

104 and §59-7-201 apply to short period returns.

mation,” later in these general instructions to iden-

tify what federal information is required with the

Due Date

Utah filing.

Returns must be filed on or before the 15th day of the

Franchise Tax

fourth month following the close of the taxable year.

Every C corporation incorporated in Utah (domes-

Filing Extension

tic), qualified in Utah (foreign), or doing business in

Utah, whether qualified or not, must file a corporate

Corporations are automatically allowed an exten-

franchise tax return. C corporation returns are filed

sion of up to six months to file a return without filing

on form TC-20. There is a minimum tax (privilege

an extension form. This is an extension of time to

tax) of $100 on every corporation that files form TC-

file the return - NOT an extension of time to pay

20 regardless of whether the corporation exercises

taxes. To avoid penalty and interest, the prepay-

its right to do business.

ment requirements must be met on or before the

S Corporation

original return due date and all returns must be filed

within the six-month extension period.

Every S corporation (as defined in IRC Section

Penalties

1361(a)) that has filed a proper and timely election

under IRC Section 1362(a) must file form TC-20S

so long as the federal election remains in effect.

The penalty for failure to file a tax due return by

The minimum tax does not apply to S corporations.

the due date is the greater of $20 or 10 percent of

the unpaid tax. In addition, if a tax balance remains

S corporation franchise or income tax return, sched-

unpaid 90 days after the due date, a second

ules, and general instructions are printed sepa-

penalty, the greater of $20 or 10 percent of the tax

rately from this booklet.

balance, will be added for failure to pay timely.

Income Tax

The penalty for failure to pay tax due as reported

The only corporations required to file under the

on a timely filed return, or within 30 days of a notice

income tax provisions are those that derive income

of deficiency, is the greater of $20 or 10 percent of

from Utah sources, but that are not qualified to do

the tax due.

business in Utah and have no regular and estab-

lished place of business in this state, either owned

Page 1

The Utah State Tax Commission Instruction

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