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What are the 2020 Utah tc-20s instructions?

2020 Utah TC-20S Instructions11 Line 23 – Sum of Beginning and Ending Asset Values Add lines 21 and 22 for each respective column. Line 24 – Average Asset Values Divide line 23 by 2 for each column. Line 25 – Non-Utah Nonbusiness Asset Ratio

What are the tax requirements for form tc-20s?

form TC-20 must pay a minimum tax (privilege tax) of $100, regardless of whether or not the corporation exercises its right to do business. S Corporation Every S corporation (as defi ned in IRC §1361(a)) that has fi led a proper and timely election under IRC §1362(a) must fi le form TC-20S, so long as the federal election remains in effect.

How to report Utah investment interest expense on 2020 Utah tc-20s?

2020 Utah TC-20S Instructions20 Line 14 – Utah Investment Interest Expense For a Utah resident shareholder, enter the amount from their federal Schedule K-1, box 12, code H. For a nonresident shareholder, enter the pro rata share of apportioned Utah investment interest expense included in the amount reported on Utah Schedule A, line 12.

What is nonbusiness income on form tc-20 Utah?

2020 Utah TC-20 Instructions18 Schedule H – Nonbusiness Income Net of Expenses Complete TC-20, Schedule H to determine nonbusiness income allocated to Utah and outside Utah. Nonbusiness income is all income that does not arise from the conduct of a taxpayer's trade or business operations.


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