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Form 1120-W for Salt Lake Utah: What You Should Know
If the corporation does not pay the required installment by December 31, 2022, the corporation is liable for tax for the tax year in which the installment is due. See the Instructions for Form 1120-W. This installment payment information applies to all corporations except those whose state has changed to a tax credit calendar. This installment payment information also applies for state tax years beginning June 1, 2018, through June 30, 2019, and for all other tax years beginning January 1, 2021. Form 1120-W may be used by corporations for all or part of the business, including the construction, purchase, or sale of real and personal property or the acquisition of new real and personal property or the development of oil, natural gas, or mineral claims. Utah Tax Law: Form 1120-W—Corporation Franchise & Income Corporations. In addition to general state corporation law for entities not required to file a state tax return, the following summary applies: A corporation, with or without stock of any kind, is a business corporation. A business corporation engages in business. A corporation is not required to file a state tax return if it pays substantially all of its tax liability on a state tax return. This applies to corporations whose state of incorporation became law within 6 months after enactment of state tax law or after the state of incorporation, whichever came first, so long as the corporation continues to engage in business. A corporation may be required to file a state tax return if certain requirements are met, including: 1. The state or U.S. territory of incorporation has changed to a tax credit calendar with a state tax deadline for filing. The change must be reported as a change in state or territory of incorporation to the Utah State Tax Commission by the beginning of the first business day following the change in state of incorporation, including any time during which the corporation might be required to elect change to a tax credit calendar. Change reporting is required for all business corporations with state-of- incorporation dates after September 24, 2011. This includes corporations whose state had not changed by May 23, 2005. If an electing change is not made, an unaltered corporation is required to file a state tax return from October 1 through the annual tax filing deadline. For state tax year 2018, this date is April 19, 2018. 2. The corporation was created when it had at least 20 shareholders. 3.
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