Creator:Tracy Hall Date Created:March 15, 1975 Place Created:Provo, Utah Keywords:corporation franchise tax Context:letter and payment for corporation franchise tax ************************************************** SCIENCE - ENGINEERING - TECHNOLOGY — CONSULTING - DESIGN - CONSTRUCTION H. TRACY HALL, INCORPORATED P.O. BOX 7533 UNIVERSITY STATION PROVO, UTAH 84601 H. TRACY HALL DANIEL R. BARTHOLOMEW H. TRACY HALL, JR. DAVID R. HALL J. MARTIN NEIL March 15, 1975 Utah State Tax Commission James M. Haran Form TC-20S ('.i»in(il«-t<-il Return is to be filed willi or mailed to STATE TAX COMMISSION OF I IT AII Slate Office Mldg. Salt Lake City, Utah 84134 Returns made on the basis of the calendar year 10711 shall Ik- filed with the Stale Tax (lonimission. State Office lildg.. Salt l ake City, Utah «H I t, on or before April 15, 1074. Returns made on the basis of a fisral year shall be filed on or before the fifteenth day of the fourth month following the close of the fiscal year. UTAH SMALL BUSINESS CORPORATION FRANCHISE TAX RETURN For Calendar Year 1973 or other taxable year beginning .__Sep..t__l_, 1073, ending Aug 31 , 1974 H. Tracy Hall, Incorporated 1190 Columbia Lane P. 0. Box 7533 University Station Provo, Utah 84601 1973 Federal Identification NiiihImt 87-0293951_ NOTE: A copy of the Federal return (1120S) and supporting schedules must be attached to this return. S 59,000 20 $ 59j 000 20 14 $ 16,520 06 * 16 .^O nfi 1. 2. 3. 4. 5. 6. 7. 8. Taxable income from page 1 of federal form 1120S_______________________ Deduct: Income subject to federal tax, from schedule J form 1120S„ Line 1 less line 2 (If all shareholders are Utali residents and entire income is derived from Utah sources, disregard lines 4 through 18 and enter amount on line 2 at line 19) Less: percentage of ownership represented by Utah resident shareholders - (Resident shares 18,000_t total shares 25,000_=_ Line 3 multiplied by line 4______________________________________ Line 3 less line 5_______________________________________________________________ Amount on line 2 .. ______________________________________________________ 22-%) Net Income (line 6 plus line 7) — Enter here and at line 14___ (If corporation is not taxable in another state disregard items 9 through 18 and enter amount on line 8 at line 19) _Allocation Of Income (to be used only if taxable in another state)_ APPORTIONMENT FRACTION DESCRIPTION In Utah (a) Everywhere '(b) Fraction (a)i(b) 9. Total tangible property s % 10. Total expenditures for wages, salaries, commissions or other compensation $ $ 11. Receipts and sales s $ J 12. Total of items 9, 10 and 11____________________________ 13. Apportionment fraction (item 12 divided by three)______ 14. Net income (item 8 above)________________________________________________ 15. Less: non-business income (attach schedule) allocated to Utah S_not allocated to Utah $. 16. Remainder of net income subject to apportionment_________________ 17. Portion of remainder allocated to Utah (Item 16 x item 13)._______ 18. Add: non-business income allocated to Utah______________________________ 19. Net income subject to Utah franchise tax__________________________________ Total 16,520 16.520. 06. a 16,520 06 06 X < 20. Tax: 6% of item 19. (or from line 28 page 2 of this return) (Answer Questions at Ton of Huge 2) Penalty______ Interest _____ TOTAL.. S...............5.91 S... -24..... .991 .24. Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the licsl of my knowledge and belief it is true, correct, ami complete. If prepared bv a |M-rson oilier than the la \ paver, his declaration is based on all information of which he lias any knowli din CORPORATE SEAL .....IU:ct. 4U 7M..... Dal.- Jhitr 7 President I'illr A^sf/ly/257 East Center Street, Provo, Utah 84601 liulii'tiluiil tir firm xigiuifiire "/ [irrparfr 1 SUPPLEMENTAL INFORMATION (To be supplied by all corporations) \. Distributions to shareholders out of earnings prior to January I. I'>7.1 $ NONE__ H. What is the latest \car or vears for which a Federal Fviininatiou lias hern completed7 NONE__Attach a summary of tin- federal adjustments and tin- adjusted Federal lax lialiilil\ lor each vear lor which f ederal audit adjustments tunc not already been reported to the Tax Commission, and indicate date of final determination. C. (1) With respect to what year or years are Federal examinations now in progress, or final determinations of past NONE examinations still pending? (12) W illi respect to what \ear or years have extensions for period of proposing additional assessments of Federal tax been agreed to with the Internal Revenue Service? NONE__Attach schedule giving complete details. Note: Automatic extension of statute of limitations is provided by Section 59-13-40 of the Utah Code for failure to report fully the information required by Questions (B) and (C). GENERAL INSTRUCTIONS FORM TC-20S Note: A Copy of the Federal Return and Supporting Schedules Must Be Attached to This Return. 1. ^ho Must File. Every small business corporation (as defined at Section 1371(a) of the Internal Revenue Code) which has filed a proper and timely election under Section 1372(a) shall file form TC-20S so long as the Federal election remains in effect. 2. Time and Place for Filing. The return must be filed with the Tax Commission on or before the fifteenth day of April following the close of the calendar year for which the return is filed: or if the return is for a fiscal year, on or before the fifteenth day of the fourth month following the close of such fiscal year. The Tax Commission may grant a reasonable extension of time not exceeding six months for filing a return, if application therefor is made before the date prescribed above for filing such return, whenever in its judgment good cause exists. 3. Accounting Period. The taxable year for Utah shall be the same as for Federal income tax purposes. If a small business corporation changes the Federal taxable year, it must change the Utah taxable year accordingly. However, permission to change shall be requested from the Tax Commission within 30 days after the close of the new filing period. 4. Signatures and Verification. The return shall be signed by a responsible officer of the corporation, the signature of whom need not be notarized but when signed shall be deemed made under oath. 5. Dividends and Other Distributions. Any dividends or other distributions of the corporation's earnings must be identified (by answering the question at the top of this page) as to distributions out of earnings prior to 1/1/73. 6. Fiscal Year Beginning in 1972 and Ending in 1973. The election to file as a small business corporation became effective on 1/1/73. Prior to that date there was no difference in tax treatment for Utah purposes between small business corporations and other corporations. Therefore, each small business corporation filing on a fiscal year beginning in 1972 and ending in 1973 shall file two returns (form TC-20 and form TC-20S). In order to compute the tax due, each return shall be filed for the full year as if the law (pre 1/1/73 or post 12/31/72) was applicable for the full year. The tax shown to be due on each return must then be reduced to an amount which bears the same ratio to the tax computed as the number of days in the particular period, applicable to the return being filed, bears to the total number of days in the filing period. Contact the corporate auditing division for further information, if needed. Complete supplemental schedule on page 2 of this return. 7. Income Taxed to a Small Business Corporation. Every small business corporation is subject to payment of the corporation franchise tax on any income which is subject to the federal corporation income tax, adjusted, of course, for any applicable apportionment fraction. Also, the corporation franchise tax must be paid by a small business corporation on that percentage of income (other than income subject to federal tax) that the percentage of ownership of its outstanding shares of stock owned by non-resident individuals bears to the total outstanding shares of stock. 8. "First Return" Computation. In the case of a small business corporation which incorporated or qualified to do business in Utah during 1972, the tax for the first and second periods applicable to pre 1/1/73 law shall be computed for the full year as if the law in effect on 1/1/72 was in effect for the full filing period. Such tax so computed shall be reduced to an amount which bears the same ratio to the tax computed as the number of days prior to 1/1/73 bears to the total number of days in the filing period. You may request a copy of Regulation No. 2 effective prior to 1/1/73 which shows examples of the computation of the first and second periods' tax. SUPPLEMENT TO FORM TC-20S (To be used only by small business corporations filing on a fiscal year beginning in 1972 and ending in 1973.) Year Beginning_ , Ending 1Q73_ Number Percent 21. Number of days from beginning of filing period to 12/31/72 (Incl.)_________ _ 22. Number of days from 1/1/73 to end of filing period_________________________ ___ _ 23. Total number of days in filing period (equals 100%)__________________________________========== 24. Tax computed for entire year from form TC-20_______$_ 25. Amount in line 24 x percent from line 21__________________________________________$_ 26. Tax computed for entire year from form TC-20S____$_ 27. Amount in line 26 x percent from line 22____________________________________________ _ 28. Total Tax Due - Enter here and on line 20, Page 1, Form TC-20S_________________________$ Page 2 * NOTICE TO TAXPAYER * Mail check lor $. . .N.QUE. .. . payable to DIRECTOR OF INTERNAL REVENUE 1160 West 1200 South, Ogden, Utah Mail on or before .November.. 15.,. 1974 Mail check for $..9.91,24.. payable to STATE TAX COMMISSION State Office Building, Salt Lake City, Ut. Mail on or before ..P.e.«mber .15,. 1974 Mail check for $............ payable to DEPARTMENT OF EMPLOYMENT SECURITY P.O. Box 2100, Salt Lake City, Utah Mail on or before ...................... Mail check for $............ payable to PROVO CITY CORPORATION Provo, Utah Mail on or before ...................... Mail check for $............ payable to STATE INSURANCE FUND 130 State Capitol, Salt Lake City, Utah Mail on or before ..................... Mail check for $............ payable to for Mail on or before ...................... BE SURE TO SIGN RETURNS AT POINTS MARKED "X" ON ALL FORMS The State of Utah STATE TAX COMMISSION 101 STATE OFFICE BUILDING SALT LAKE CITY, UTAH 84134 IN REPLY REFER TO: H. TRACY WALL, INCORPORATES MARCH 14, 1975 1711 NORTH LAMBERT LANE (57676) Division. PR0V0, UTAH 84601 Auditing Attention: James M. Haran NOTICE AND DEMAND - CORPORATION FRANCHISE TAX Gentlemen: Re: Return for Period Ending: AUG 31 1974 (Due: DEC I 5 1974 ) According to the records of this office, you have not filed your corporation franchise tax return referred to above, as required under Title 59, Chapter 13, Sections 22 and 25, Utah Code Annotated 1953. This return is now delinquent. It therefore becomes our duty, under the provisions of the law, to demand that you file this return within twenty days from the date of this notice and make payment of all tax due, plus a penalty of 25% of the amount of the tax, and inter est on the tax at the rate of 17= per month from the date the return was due until the date payment is made. If you do not have a form on which to make this return please let us know and we will mail one to you. Every company incorporated or qualified to do business in this state must file a corporation franchise tax return each year and pay the tax shown to be due thereon until its corporate charter has been legally terminated by the Utah Secretary of State. The fact that the corporation has done no business during the period does not relieve it of this responsibility. This tax is imposed upon a corporation in payment for the right or privilege of doing business in Utah and applies whether or not that right or privilege is used. Respectfully yours, STATE TAX COMMISSION #1760 :dr James M. Haran Corporate Collections Auditing Division