Utah Form Tc 65 – Fill Out and Use This PDF

The Utah TC-65 form is a crucial document for partnerships, limited liability partnerships, and limited liability companies operating in Utah. It serves as the return form for these entities for either the calendar year 2020 or a fiscal year that begins and ends on specified dates, facilitating the reporting of income, deductions, and taxes due to the state. Click the button below to ensure accurate and timely completion of your TC-65 form.

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Utah Form Tc 65 PDF Details

In the dynamic landscape of business and tax regulations, the Utah TC-65 form plays a crucial role for partnerships and limited liability entities operating within the state. As a comprehensive document designed for the tax year 2020, this form addresses the unique reporting needs of general partnerships, limited partnerships, limited liability partnerships, and limited liability companies. It serves as a vehicle for these entities to file their returns, encompassing various critical sections from the declaration of net income or loss and contributions, to specifics regarding Utah and non-Utah nonbusiness income adjustments. Additionally, the form includes detailed provisions for calculating taxes owed or refunds due, with special attention to amended returns, pass-through withholding tax, and Utah use tax obligations. Equally important are the schedules attached, like Schedule A for detailing Utah taxable income for pass-through entity taxpayers, and Schedules H and J for declaring nonbusiness income net of expenses and apportionment of income, respectively. This meticulous documentation ensures that entities can accurately report and allocate income, ultimately facilitating compliance with state tax regulations. By providing spaces for entity type indication, registration dates, and dissolution dates if applicable, the TC-65 form stands as a testament to the nuanced financial landscape entities navigate in Utah, blending the need for precise tax reporting with the flexibility of various partnership structures.

Question	Answer
Form Name	Utah Form Tc 65
Form Length	10 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	2 min 30 sec
Other names	utah 2020 form tc 65, tc 65 ut, utah partnership tax, utah 65 tax

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65001

9998

USTC ORIGINAL FORM

Partnership name

Address

City

Utah Partnership/Limited Liability Partnership/

2020

Limited Liability Company Return

TC-65

For calendar year 2020 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

Date registered in Utah (mm/dd/yyyy)

• 1

If dissolved, date of dissolution (mm/dd/yyyy)

• 2

Total pass-through withholding tax - enter the amount from Schedule N, column I

• 3

Note: This amount must be paid by the due date of the return, without extensions

Utah use tax

• 4

Total tax - add line 3 and line 4

Prepayments made for the year (do not include any pass-through withholding tax or credits - see instr.)

• 6

Amended return only (see instructions)

• 7

Total payments - add line 6 and line 7

• 8

Tax Due - subtract line 8 from line 5 (not less than zero)

• 9

Penalties and interest (see instructions)

Total Due - Pay this amount - add line 9 and line 10

• 11

Overpayment - subtract the sum of line 5 and line 10 from line 8 (not less than zero)

Amount of overpayment on line 12 to be applied to next year

• 13

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	Date	Preparer’s telephone number	Preparer’s	PTIN
Paid					•

Preparer’s		Firm’s name and address			Preparer’s	EIN
Section					•

	Schedule A - Utah Taxable Income for Pass-through Entity Taxpayers	TC-65, Sch. A
65002 EIN		2020
USTC ORIGINAL FORM
1	Net income (loss) from federal form 1065, Schedule K, Analysis of Net Income (Loss), line 1	• 1

2	Contributions from federal form 1065, Schedule K, line 13a	• 2

3	Foreign taxes from federal form 1065, Schedule K, line 16p	• 3

4	Recapture of Section 179 deduction from all federal Schedules K-1, box 20, code M	• 4
5	Total income (loss) - add lines 1 through 4	5


6	Total guaranteed payments to partners (see instructions)	• 6

7	Health insurance included in guaranteed payments on line 6	• 7
8	Net guaranteed payments to partners - subtract line 7 from line 6	8


9	Utah net nonbusiness income from TC-20, Schedule H, line 14	• 9

10	Non-Utah net nonbusiness income from TC-20, Schedule H, line 28	• 10
11	Add lines 8 through 10	11


12	Apportionable income (loss) - subtract line 11 from line 5	• 12

13	Apportionment fraction - enter 1.000000, or TC-20, Schedule J, line 9, 13 or 14, if applicable	• 13

14	Utah apportioned business income (loss) - multiply line 12 by line 13	• 14

15	Total Utah income (loss) allocated to pass-through entity taxpayers - add line 9 and line 14	• 15

Schedule H - Utah Nonbusiness Income Net of Expenses	TC-20, Sch. H	Pg. 1
20061 EIN	2020
USTC ORIGINAL FORM	(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	Used to Produce Utah
		Asset(s)		Nonbusiness Income	Nonbusiness Income
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

6	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
	Utah Nonbusiness Income	Utah Nonbusiness Income
7	Beginning-of-year assets
	(enter in Column A the amount from line 2, col. C)
	(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 6; or
	TC-65, Schedule A, line 9

Schedule H - Non-Utah Nonbusiness Income Net of Expenses	TC-20, Sch. H	Pg. 2
20062 EIN	2020
	(use with TC-20,
	TC-20S and TC-65)

Part 2 - Non-Utah Nonbusiness Income (nonbusiness income allocated outside Utah)

	A	B		C	D	E
	Type of Non-Utah	Acquisition Date of		Beginning Value of Investment	Ending Value of Investment	Non-Utah Nonbusiness
	Nonbusiness Income	Non-Utah		Used to Produce Non-Utah	Used to Produce Non-Utah	Income
		Nonbusiness Asset(s)		Nonbusiness Income	Nonbusiness Income
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

	Description of direct expenses related to:				Amount of Direct Expense
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			•
		Column A	Column B
		Column A	Column B
	Indirect Related Expenses for	Total Assets Used to Produce	Total Assets
	Non-Utah Nonbusiness Income	Non-Utah Nonbusiness Income
21	Beginning-of-year assets
	(enter in Column A the amount from line 16, col. C)
	(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)
	(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		•
Enter on:	TC-20, Schedule A, line 7;
	TC-20S, Schedule A, line 7; or
	TC-65, Schedule A, line 10

Schedule J - Apportionment Schedule	TC-20, Sch. J	Pg. 1
20063 EIN	2020
USTC ORIGINAL FORM	(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

				Column A		Column B
1	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		•

2	Property factor - divide line 1f, Column A, by line 1f, Column B (to six decimal places)				•	2
3	Payroll Factor
3	Payroll Factor
	a	Total wages, salaries, commissions and other compensation	• 3a		•

4	Payroll factor - divide line 3a, Column A, by line 3a, Column B (to six decimal places)				•	4
5	Sales Factor
5	Sales Factor
	a	Total sales (gross receipts less returns and allowances)			•	5a
	b	Sales delivered or shipped to Utah buyers from outside Utah	• 5b
	b	Sales delivered or shipped to Utah buyers from outside Utah	• 5b

	c	Sales delivered or shipped to Utah buyers from within Utah	• 5c

	d	Sales shipped from Utah to the United States government	• 5d

	e	Sales shipped from Utah to buyers in states where the corp.	• 5e
		has no nexus (corporation not taxable in buyer’s state)
		has no nexus (corporation not taxable in buyer’s state)
	f	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)				•	6
		Continued on page 2
		Continued on page 2

Schedule J - Apportionment Schedule	TC-20, Sch. J	Pg. 2
20064 EIN	2020
USTC ORIGINAL FORM	(use with TC-20, TC-20S,
	TC-20MC and TC-65)
7 All entities - enter your NAICS code here (see instructions)	• 7
Apportionment Fraction
Apportionment Fraction
Optional apportionment taxpayers (see instructions) complete Part 1 or Part 2.
Sales factor weighted taxpayers (see instructions) complete Part 3.

Part 1: Equally-Weighted Three Factor Formula

8	Total factors - add lines 2, 4 and 6	8
9	Calculate the Apportionment Fraction to SIX DECIMALS	• 9
	Divide line 8 by 3 (or the number of factors present)

Part 2: Phased-in Sales Factor Formula

10	Enter “X” for phased-in sales factor		•	10
11	Sales factor - multiply line	6 by 8		11
12	Total factors - add lines 2,	4 and 11		12
13	Calculate the Apportionment Fraction to SIX DECIMALS		•	13
	Divide line 12 by 10 (or the number of factors present, counting the sales factor eight times)

Part 3: Sales Factor Weighted Taxpayers Only (see instructions for those who qualify)

14 Apportionment Fraction - enter the six-decimal sales factor from line 6

• 14

Enter the fraction from line 9, line 13 or line 14, above, as follows:

TC-20 filers: Enter on TC-20, Schedule A, line 12

TC-20S filers: Enter on TC-20S, Schedule A, line 10

TC-20MC filers: Enter on TC-20MC, Schedule A, where indicated

TC-65 filers: Enter on TC-65, Schedule A, line 13

Schedule K - Partners’ Distribution Share Items		TC-65, Sch. K
65003 EIN	2020
USTC ORIGINAL FORM
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	Code	Credit Amount

19 Total Utah tax withheld on behalf of all partners from Schedule N, column l

	Schedule K-1 - Partner’s Share	TC-65, Sch. K-1
65004	of Utah Income, Deductions and Credits	2020

USTC ORIGINAL FORM

Partnership Information

A Partnership’s EIN:

B Partnership’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

Enter date:

affiliated

withdrawn

Partner’s Share of Apportionment Factors

Utah

Total

Property

Payroll

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

14Contributions

15Foreign taxes paid or accrued

16Utah other deductions (describe)

17Utah nonrefundable credits:

Name of Credit	Code	Credit Amount

18 Utah refundable credits:

Name of Credit	Code	Credit Amount

19Utah tax withheld on behalf of partner “X” if withholding waiver applied for

Schedule N - Pass-through Entity Withholding Tax			TC-65, Sch. N
65005 EIN			2020
USTC ORIGINAL FORM

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.

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)

4.95% of income - G

Mineral production

I Withholding tax

Withholding waiver for this partner

attributable to Utah

E times .0495

withholding credit

to be paid by

(enter “X” in column B and “0” in column F)

plus Utah source

(not less than zero)

this partnership

SSN or EIN of partner

guaranteed pymts

Upper-tier pass-

F less G and H

Partner’s % of income or ownership

(see instructions)

through withholding

(not less than 0)

•

Report the partner’s pass-through withholding tax from column I on Schedule K-1, line 19

Total Utah withholding tax to be paid by this partnership:

Enter on TC-65, line 3 and on Sch. K, line 19.

Credits Received from Upper-tier Pass-through Entities			TC-250
25001 and Mineral Production Withholding Tax Credit on TC-675R			2020
EIN			(use with TC-20S, TC-41 and TC-65)

USTC ORIGINAL FORM

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”	Code	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

Upper-tier pass-through entity EIN from Utah Sch. K-1, box “A”

Name of upper-tier pass-through entity	Credit	UT refundable credit
from Utah Schedule K-1, box “B”	Code	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

		Mineral production
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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Filling out section 1 in utah tc 65 form

2. Soon after the previous array of blanks is completed, go on to enter the applicable details in these: Note This amount must be paid by, Utah use tax, Total tax add line and line, Prepayments made for the year do, Amended return only see, Total payments add line and, Tax Due subtract line from line, Penalties and interest see, Total Due Pay this amount add, Overpayment subtract the sum of, Amount of overpayment on line to, cid, cid, cid, and cid.

Step number 2 of submitting utah tc 65 form

3. Completing this return and accompanying, SIGN, Signature of general partner or, HERE, Preparers signature, Paid, Preparers, Firms name and address, Section, Date, Date, Title, X if USTC may discuss, this return with preparer below, and Preparers telephone number is essential for the next step, make sure to fill them out in their entirety. Don't miss any details!

Learn how to prepare utah tc 65 form part 3

Be very attentive when filling out SIGN and X if USTC may discuss, as this is where a lot of people make mistakes.

4. This particular subsection comes next with the next few fields to consider: Schedule A Utah Taxable Income, USTC ORIGINAL FORM, Net incomeloss from federal form, Contributions from federal form, Foreign taxes from federal form, Recapture of Section deduction, Payroll Protection Program grant, Reserved see instructions, Total incomeloss add lines, Total guaranteed payments to, Health insurance included in, Net guaranteed payments to, cid, cid, and cid.

utah tc 65 form writing process explained (step 4)

5. To finish your document, this last segment involves a couple of extra blank fields. Filling in Net guaranteed payments to, Utah net nonbusiness income from, NonUtah net nonbusiness income, Add lines through, Apportionable incomeloss, Apportionment fraction enter or, Utah apportioned business, Total Utah incomeloss allocated, cid, cid, cid, cid, cid, and cid will conclude the process and you will be done in an instant!

utah tc 65 form writing process clarified (portion 5)

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