Restor A Previous Version Of Legal Utah Startup For S-Corporation Forms For Free

A copy of the IRS letter of authorization, ?Notice of Acceptance as an S Corporation,? must be at- tached to the S Corporation Franchise or Income Tax Return, TC-20S, when filing for the first time. and Tax Commission Master File Maintenance 210 N 1950 W Salt Lake City, UT 84134.

Businesses that have elected S corporation treatment for federal income tax purposes must file Form TC-20S, ?Utah S Corporation Return.? The minimum tax doesn't apply. S corporations don't pay franchise and income taxes. Instead, their members pay individual income tax on their proportionate share of the income.

If you need to change or amend an accepted Utah State Income Tax Return for the current or previous Tax Year you need to complete Form TC-40. Form TC-40 is a Form used for the Tax Return and Tax Amendment. You can prepare a current tax year Utah Tax Amendment on eFile.com, however you can not submit it electronically.

An S corporation is an ordinary business formed and operated under a state's general corporation law. It is like any other corporation, except for this difference: It is like any other partnership for federal income tax purposes.

Entrepreneurs must create one of the two business entities before electing S corp status. Entrepreneurs must file form 2553 to select S corp status within 75 days of creating their LLC or C corporation. Utah requires that all C corporations pay a franchise tax, the form for which includes a $100 minimum privilege tax.

Some jurisdictions?the District of Columbia, Louisiana, New Hampshire, New York City, Tennessee, and Texas?do not recognize the federal S corporation election and, for the most part, tax S corporations like other business corporations.