Filing Corporate Returns

• Requesting Copies of Previously Filed Returns
• Carrying Losses Forward or Back
• Filing Extension
• Exemption From Taxes

Requesting Copies of Previously Filed Returns

To get a copy of your previously filed return:

• Complete form TC-880, Request for Tax Records.
• An officer of record must sign the form. An officer of record is anyone listed by the Department of Commerce as an officer in your corporation.
• You may request the records in person or by mail.
• There is a $6.50 fee for each record requested.

Carrying Losses Forward or Back

S-corporations, partnerships, and LLCs filing as an s-corporation or partnership may not carry losses forward or back. They must distribute the loss to their shareholders, partners, or members who use the loss on their income tax return.

C-corporation

For tax years beginning on or after 1/1/2018

Net Operating Losses may not be carried back.

Net Operating Losses may be carried forward but may only be applied against up to 80% of the receiving year’s income. To carry a loss forward report the amount of loss you wish to have applied on the TC-20 Schedule A, Line 16.

For tax years beginning before 1/1/2018

Submit form TC-20L, Utah Application for Refund from a Corporation Loss Carryback, to claim any refund resulting from a Utah net loss carryback. Do not submit an amended return for the purpose of claiming a loss carryback refund.

A C corporation filing form TC-20 may be entitled to carry back a current-year loss against income of the previous three years. The loss carryback is subject to a $1,000,000 limitation. To claim a refund from a Utah net operating loss carryback, the corporation must file form TC-20L, Utah Application for a Refund from a Corporation Loss Carryback.

Note: If there is a Utah net loss on line 15 of form TC-20 Schedule A, the corporation must carry the loss back (subject to a $1,000,000 limitation), unless the corporation elected to forego the federal net operating loss carryback for federal purposes. The federal election applies to the Utah net operating loss unless on line 15 of form TC-20 Schedule A for the loss year the corporation elects to forego the Utah net loss carryback. S corporations may not carry losses back or forward as such losses are passed through to the shareholders.

Filing Extension

Corporations are automatically allowed an extension of up to six months to file a return without filing an extension form. This is NOT an extension of time to pay your taxes – it is only an extension of time to file your return. To avoid penalty, the prepayment requirements must be met on or before the original return due date, and the return must be filed within the six-month extension period.

Exemption From Taxes

Non profit organizations are taxable unless an exemption has been issued by the Utah State Tax Commission. See form TC-161, Utah Registration for Exemption from Corporate Franchise or Income Tax.