The Utah TC-65 form is a tax return specifically designed for partnerships and limited liability companies operating in Utah. This form allows these entities to report their income, deductions, and tax liabilities to the state, ensuring compliance with Utah tax laws. For those needing to file, completing the TC-65 is essential for accurate tax reporting; click the button below to get started.
The Utah TC-65 form is a crucial document for partnerships and limited liability companies operating within the state. This form serves as the annual return for these entities, allowing them to report their income, deductions, and tax liabilities. It is designed for entities that are classified as general partnerships, limited partnerships, limited liability partnerships, or limited liability companies. The TC-65 form requires the entity's name, address, and Employer Identification Number (EIN), along with details regarding the entity's registration and dissolution dates. Taxpayers must also provide information related to pass-through withholding tax and Utah use tax. The form includes sections for calculating total tax, prepayments, and any penalties or interest that may apply. Additionally, it allows for the reporting of overpayments and requests for refunds. Accompanying schedules, such as Schedule A and Schedule H, further detail the entity's taxable income and nonbusiness income. Accurate completion of the TC-65 form is essential to ensure compliance with state tax regulations and to avoid potential penalties.
65201
9998
USTC ORIGINAL FORM
Partnership name
Address
City
Utah Partnership/Limited Liability Partnership/
2022
Limited Liability Company Return
TC-65
For calendar year 2022 or fiscal year (mm/dd/yyyy):
beginning -
/
and ending -
•
Amended Return (code 1-4)
Mark “X” if you filed federal form 8886
Employer Identification Number
State ZIP + 4
Foreign country (if not U.S.)Telephone number
ENTITY TYPE (check one):
General partnership
Limited partnership
Other (describe below)
Limited liability partnership
Limited liability company
1
Date registered in Utah (mm/dd/yyyy)
• 1
2
If dissolved, date of dissolution (mm/dd/yyyy)
• 2
3
Total pass-through withholding tax - enter the amount from Schedule N, column J
• 3
Note: This amount must be paid by the due date of the return, without extensions
4
Utah use tax
• 4
5
Total tax - add line 3 and line 4
6
Prepayments made for the year (do not include any pass-through withholding tax or credits - see instr.)
• 6
7
Amended return only (see instructions)
• 7
8
Total payments - add line 6 and line 7
• 8
9
Tax Due - subtract line 8 from line 5 (not less than zero)
• 9
10
Penalties and interest (see instructions)
11
Total Due - Pay this amount - add line 9 and line 10
• 11
12
Overpayment - subtract the sum of line 5 and line 10 from line 8 (not less than zero)
13
Amount of overpayment on line 12 to be applied to next year
• 13
14
Refund - subtract line 13 from line 12
• 14
USTC USE ONLY
Under penalties of perjury, I declare to the best of my knowledge and belief,
this return and accompanying schedules are true, correct and complete.
SIGN
Signature of general partner or member manager
Date
Title
“X” if USTC may discuss
HERE
this return with preparer below:
Preparer’s signature
Preparer’s telephone number
Preparer’s
PTIN
Paid
Firm’s name and address
EIN
Section
Schedule A - Utah Taxable Income for Pass-through Entity Taxpayers
TC-65, Sch. A
65202
Net income/loss from federal form 1065, Schedule K, Analysis of Net Income (Loss), line 1
Contributions from federal form 1065, Schedule K, line 13a
Foreign taxes from federal form 1065, Schedule K, line 21
Recapture of Section 179 deduction from all federal Schedules K-1, box 20, code M
Payroll Protection Program grant or loan addback (see instructions)
• 5
(Reserved, see instructions)
Total income/loss - add lines 1 through 6
Total guaranteed payments to partners (see instructions)
Health insurance included in guaranteed payments on line 8
Net guaranteed payments to partners - subtract line 9 from line 8
Utah net nonbusiness income from TC-20, Schedule H, line 14
Non-Utah net nonbusiness income from TC-20, Schedule H, line 28
• 12
Add lines 10 through 12
Apportionable income/loss - subtract line 13 from line 7
15
Apportionment fraction - enter 1.000000, or TC-20, Schedule J, line 9 or 10, if applicable
• 15
16
Utah apportioned business income/loss - multiply line 14 by line 15
• 16
17
Total Utah income/loss allocated to pass-through entity taxpayers - add line 11 and line 16
• 17
Schedule H - Utah Nonbusiness Income Net of Expenses
TC-20, Sch. H
Pg. 1
20261 EIN
(use with TC-20,
TC-20S and TC-65)
Note: Failure to complete this form may result in disallowance of the nonbusiness income.
Part 1 - Utah Nonbusiness Income (nonbusiness income allocated to Utah)
A
B
C
D
E
Type of Utah
Acquisition Date of
Beginning Value of Investment
Ending Value of Investment
Utah Nonbusiness Income
Nonbusiness Income
Utah Nonbusiness
Used to Produce Utah
Asset(s)
1a
1b
1c
1d
1e
2Total of column C and column D
3Total Utah nonbusiness income - add column E for lines 1a through 1e
Description of direct expenses related to:
Amount of Direct Expense
4a
Line 1a above
4b
Line 1b above
4c
Line 1c above
4d
Line 1d above
4e
Line 1e above
5Total direct related expenses - add lines 4a through 4e
Utah nonbusiness income net of direct related expenses - subtract line 5 from line 3
Column A
Column B
Indirect Related Expenses for
Total Assets Used to Produce
Total Assets
Beginning-of-year assets
(enter in Column A the amount from line 2, col. C)
8End-of-year assets
(enter in Column A the amount from line 2, col. D)
9Sum of beginning and ending asset values (add line 7 and line 8)
10Average asset value - divide line 9 by 2
11Utah nonbusiness assets ratio - line 10, Column A, divided by line 10, Column B (to four decimal places)
12Interest expense deducted in computing Utah taxable income (see instructions)
13Indirect related expenses for Utah nonbusiness income - multiply line 11 by line 12
14 Total Utah nonbusiness income net of expenses - subtract line 13 from line 6
Enter on:
TC-20, Schedule A, line 6;
TC-20S, Schedule A, line 8; or
TC-65, Schedule A, line 11
Schedule H - Non-Utah Nonbusiness Income Net of Expenses
Pg. 2
20262 EIN
Part 2 - Non-Utah Nonbusiness Income (nonbusiness income allocated outside Utah)
Type of Non-Utah
Non-Utah Nonbusiness
Non-Utah
Used to Produce Non-Utah
Income
Nonbusiness Asset(s)
15a
15b
15c
15d
15e
16Total of column C and column D
17Total non-Utah nonbusiness income - add column E for lines 15a through 15e
18a
Line 15a above
18b
Line 15b above
18c
Line 15c above
18d
Line 15d above
18e
Line 15e above
19
Total direct related expenses - add lines 18a through 18e
20
Non-Utah nonbusiness income net of direct related expenses - subtract line 19 from line 17
Non-Utah Nonbusiness Income
21
(enter in Column A the amount from line 16, col. C)
22
End-of-year assets
(enter in Column A the amount from line 16, col. D)
23Sum of beginning and ending asset values (add line 21 and line 22)
24Average asset value - divide line 23 by 2
25Non-Utah nonbusiness assets ratio - line 24, Column A, divided by line 24, Column B (to four decimal places)
26Interest expense deducted in computing non-Utah taxable income (see instructions)
27Indirect related expenses for non-Utah nonbusiness income - multiply line 25 by line 26
28 Total non-Utah nonbusiness income net of expenses - subtract line 27 from line 20
TC-20, Schedule A, line 7;
TC-20S, Schedule A, line 9; or
TC-65, Schedule A, line 12
Schedule J - Apportionment Schedule
TC-20, Sch. J
20263 EIN
(use with TC-20, TC-20S,
TC-20MC and TC-65)
Note: Use this schedule only if the entity does business in Utah and one or more other states and income must be apportioned to Utah.
Briefly describe the nature and location(s) of your Utah business activities:
Apportionable Income Factors
Property Factor
Inside Utah
Inside and Outside Utah
a
Land
• 1a
b
Depreciable assets
• 1b
c
Inventory and supplies
• 1c
d
Rented property
• 1d
e
Other allowable property (see instructions)
• 1e
f
Total tangible property - add lines 1a through 1e
• 1f
Property factor - divide line 1f, Column A, by line 1f, Column B (to six decimal places)
Payroll Factor
Total wages, salaries, commissions and other compensation
• 3a
Payroll factor - divide line 3a, Column A, by line 3a, Column B (to six decimal places)
Sales Factor
Total sales (gross receipts less returns and allowances)
5a
Sales delivered or shipped to Utah buyers from outside Utah
• 5b
Sales delivered or shipped to Utah buyers from within Utah
• 5c
Sales shipped from Utah to the United States government
• 5d
Sales shipped from Utah to buyers in states where the corp.
• 5e
has no nexus (corporation not taxable in buyer’s state)
Rent and royalty income
• 5f
g
Services and other allowable sales (see instructions)
• 5g
h
Total sales (add lines 5a through 5g)
• 5h
6 Sales factor - line 5h, Column A, divided by line 5h, Column B (to six decimals)
Continued on page 2
20264 EIN
7 All entities - enter your NAICS code here (see instructions)
Apportionment Fraction
Optional apportionment taxpayers (see instructions) complete Part 1 or Part 2.
Sales factor weighted taxpayers (see instructions) complete Part 2.
Part 1: Equally-Weighted Three Factor Formula (see instructions for those who qualify)
Total factors - add lines 2, 4 and 6
Calculate the Apportionment Fraction to SIX DECIMALS
Divide line 8 by 3 (or the number of factors present)
Part 2: Sales Factor Formula (see instructions for those who qualify)
Apportionment Fraction - enter the six-decimal sales factor from line 6
Enter the fraction from line 9 or line 10, above, as follows:
TC-20 filers: Enter on TC-20, Schedule A, line 12
TC-20S filers: Enter on TC-20S, Schedule A, line 12
TC-20MC filers: Enter on TC-20MC, Schedule A, where indicated
TC-65 filers: Enter on TC-65, Schedule A, line 15
Schedule K - Partners’ Distribution Share Items
TC-65, Sch. K
65203 EIN
Number of Schedules K-1 attached to this return
Income/Loss
Deductions
Utah Credits
Federal Amount
Utah Amount
1Ordinary business income/loss
2Net rental real estate income/loss
3 Other net rental income/loss
4 Guaranteed payments
5a U.S. government interest income
5b Municipal bond interest income
5c Other interest income
6Ordinary dividends
7 Royalties
8 Net short-term capital gain/loss
9 Net long-term capital gain/loss
10 Net Section 1231 gain/loss
11 Recapture of Section 179 deduction
12 Other income/loss (describe)
13Section 179 deduction
14Contributions
15Foreign taxes paid or accrued
16Other deductions (describe)
17 Utah nonrefundable credits - enter the name of the Utah credit
Code
Credit Amount
18 Utah refundable credits - enter the name of the Utah credit
19 Total Utah tax withheld on behalf of all partners from Schedule N, column J
Schedule K-1 - Partner’s Share
TC-65, Sch. K-1
65204
of Utah Income, Deductions and Credits
Partnership Information
APartnership’s EIN:
BPartnership’s name, address, city, state, and ZIP code
Partner Information
C Partner’s SSN or EIN:
D Partner’s name, address, city, state, and ZIP code
EPartner’s phone number
F Percent of ownership
G Enter “X” if limited partner or member
H Entity code from list below:
--
I = Individual
P = Gen’l Partnership
C = Corporation
L = Limited Partnership
Codes
S = S Corporation
B = LLC
R = LLP
N = Nonprofit Corp.
T = Trust
O = Other
I
Enter date:
affiliated
withdrawn
Partner’s Share of Apportionment Factors
Utah
Total
J
Property
$
K
Payroll
L
Sales
Other Information
Note: To complete lines 1 through 16:
*Utah residents, enter the amounts from federal Schedule K-1.
*Utah nonresidents, see instructions to calculate amounts.
All filers complete lines 17 through 19, if applicable.
Partner’s Share of Utah Income, Deductions and Credits
1Utah ordinary business income/loss
2Utah net rental real estate income/loss
3 Utah other net rental income/loss
4 Utah guaranteed payments
5a Utah U.S. government interest income
5b Utah municipal bond interest income
5c Utah other interest income
6Utah ordinary dividends
7 Utah royalties
8 Utah net short-term capital gain/loss
9 Utah net long-term capital gain/loss
10 Utah net Section 1231 gain/loss
11 Utah recapture of Section 179 deduction
12 Utah other income/loss (describe)
13Utah Section 179 deduction
16Utah other deductions (describe)
17Utah nonrefundable credits:
Name of Credit
18 Utah refundable credits:
19Utah tax withheld on behalf of partner “X” if withholding waiver applied for
Schedule N - Pass-through Entity Withholding Tax
TC-65, Sch. N
65205 EIN
A partnership with nonresident individual partners, resident/nonresident business partners, or resident/nonresident trust or estate partners must complete the information below to calculate the Utah withholding tax for these partners. See instructions for column G, column H and column I.
WITHHOLDING WAIVER CLAIMED under §59-10-1403.2(5): If partners will pay the Utah tax on their own returns:
Enter "1" to claim a waiver for ALL partners (enter "X" in column B and "0" in column F for all partners)
Enter "2" to claim a waiver for SOME partners (enter "X" in column B and "0" in column F for those partners claimed)
See Schedule N instructions for liability responsibilities when claiming a waiver.
Name of partner
Income/loss
F
4.85% of income -
G
Mineral production
J Withholding tax
Withholding waiver for this partner
attributable to Utah
E times .0485
withholding credit
to be paid by
(enter “X” in column B and “0” in column F)
plus Utah source
(not less than zero) H
Upper-tier pass-
this partnership
SSN or EIN of partner
guaranteed pymts
through withholding
F less G, H and I
Partner’s % of income or ownership
(see instructions)
I Tax paid by PTE
(not less than 0)
#1
H
#2
#3
#4
#5
#6
#7
Report the partner’s pass-through withholding
Total Utah withholding tax to be paid by this partnership:
tax from column J on Schedule K-1, line 19
Enter on TC-65, line 3 and on Sch. K, line 19.
Credits Received from Upper-tier Pass-through Entities
TC-250
25201 and Mineral Production Withholding Tax Credit on TC-675R
(use with TC-20S, TC-41 and TC-65)
Part 1 - Utah Nonrefundable Credits Received from Upper-tier Pass-through Entities
Upper-tier pass-through entity EIN from Utah Sch. K-1, box “A”
UT nonrefundable
Name of upper-tier pass-through entity
Credit
credit from
from Utah Schedule K-1, box “B”
Utah Sch. K-1
Enter these credits on Utah TC-20S Sch. K, line 18, or TC-41 Sch. A, Part 3 or 4, or TC-65 Sch. K, line 17, using the credit code above. Combine amounts for the same codes.
Part 2 - Utah Refundable Credits Received from Upper-tier Pass-through Entities
UT refundable credit
from Utah Sch. K-1
Enter these credits on Utah TC-20S Sch. K, line 19, or TC-41 Sch. A, Part 5, or TC-65 Sch. K, line 18, using the credit code above. Combine amounts for the same codes.
Part 3 - Utah Mineral Production Withholding Tax Credit Received on TC-675R
Producer EIN from
withholding from
TC-675R, box “2”
Producer’s name from TC-675R, box “1”
TC-675R, box “6”
Total Utah mineral production withholding tax credit received on TC-675R
Enter total credit on Utah TC-20S Sch. K, line 19, or TC-41 Sch. A, Part 5, or TC-65 Sch. K, line 18, using credit code 46.
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