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Nonprofit Organization Unrelated Business Income Tax Booklet IT-20NP - Indiana
| Nonprofit Organization Unrelated Business Income Tax Booklet Form. This is a Indiana form and can be used in Corporate Income Department Of Revenue Statewide . |
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INDIANA DEPARTMENT OF REVENUE 100 N. SENATE AVE. INDIANAPOLIS, IN 46204-2253 www.in.gov/dor/ SP 155 (R9 / 9-12) STATE OF INDIANA Nonprofit Organization Unrelated Business Income Tax Booklet 2012 Form IT-20NP This booklet contains forms and instructions for preparing the Indiana adjusted gross income tax return on unrelated income of nonprofit organizations. 1 American LegalNet, Inc. www.FormsWorkFlow.com Indiana Department of Revenue 2012 Nonprofit Organization Unrelated Business Income Tax Return Administrative and Legislative Tax Highlights Another option for sales taxes is using Streamlined Sales Tax. For more information, visit www.in.gov/dor/3341.htm. Taxpayers should register for INtax or begin using a third-party agent before Jan. 1, 2013. The Department recognizes that not all businesses will be able to comply with the law due to special circumstances. With that in mind, the Department will allow limited exceptions. The exceptions include · Religious beliefs; · Organizational policy that prohibits electronic filing (short-term exception); and · Lack of computer or Internet access (short-term exception). The distribution of coupons will change beginning in January 2013. The Department will mail six months' worth of coupons (January 2013 June 2013) to all businesses that have not registered to file and pay electronically by the end of 2012, as well as those who have received approved exceptions. However, in July 2013, the Department will discontinue mailing coupons for sales and withholding. These coupons will NOT be available upon request. Thus, taxpayers who do not have a longterm exception will need to report and remit electronically. For a complete summary of new legislation regarding taxation, please see 2012 Summary of State Legislation Affecting the Department of Revenue at www.in.gov/dor/3656.htm. References to the Internal Revenue Code Public Law (PL) 137-2012, SEC. 53 updates references to the Internal Revenue Code in certain Indiana tax statutes. For tax year 2012, any reference to the Internal Revenue Code and subsequent regulations means the Internal Revenue (IRC) Code of 1986, as amended and in effect on Jan. 1, 2012. New Electronic Filing Mandate Legislation was passed this year that requires the filing and remitting of withholding and sales tax electronically. The following changes have occurred: · Effective July 1, 2012, anyone who files more than 25 W-2, 1099-R, or WH-18 statements must file them electronically. · Effective Jan. 1, 2013, all retail merchants must report and remit sales tax electronically. · Effective Jan. 1, 2013, all withholding agents must report and remit withholding taxes electronically. One way businesses can file and remit their sales and withholding taxes is through INtax, Indiana's free online tool that enables businesses to manage business tax obligations for Indiana retail sales, withholding, out-of-state sales, prepaid sales, metered pump sales, tire fees, fuel taxes, wireless prepaid fees, and type II gaming taxes. The tax forms currently supported in INtax include the following: · ST-103; · ST-103P; · ST-103MP; · WH-1; · WH-3; · TF-103; · SF-401; · SF-900; · MF-360; · WPC-103; and · TTG-103. In INtax, businesses can make payments with either ACH Debit or credit card. ACH Debit is an EFT method of payment. Alternatively, businesses can have a software vendor or tax professional manage their tax obligations. This still meets the electronic mandate requirement because the software vendor or tax professional will file and pay electronically. Change in Filing Frequency for Withholding Taxes Effective Jan. 1, 2013, withholding taxes maybe filed annually if the total tax due for the year is less than $1,000. This eliminates the current requirements for quarterly and semi-annual filing. View Estimated Tax Payments Online and Make Payments by ePay Corporate taxpayers can now verify their state estimated tax payments and balances online. This feature saves time, helps to avoid delayed refunds, and identifies estimated discrepancies prior to filing. Visit www.in.gov/dor/epay/index.html to access your estimated tax information. Please have the following information available: · Name; · Taxpayer's federal tax ID or employer identification number (EIN); · Current street address; and · Last payment amount; View it by clicking Begin using IN e-pay at www.in.gov/dor/epay/index.html. If you have any questions, please call the Department at (317) 232-0129. American LegalNet, Inc. www.FormsWorkFlow.com 2 Voluntary Compliance Program If you discover you have an unmet filing requirement with Indiana and want to know more about the Department's Voluntary Disclosure Program, contact us at: Voluntary Compliance Program-MS#104 Indiana Department of Revenue 100 N. Senate Ave., IGCN#241 Indianapolis, IN 46204 publishes an information booklet titled "Tax Exempt Status for Your Organization," Publication 557. Contact: Internal Revenue Service: (800) 829-1040 Publications: (800) 829-3676 www.irs.ustreas.gov/ To register your nonprofit status with the state, you must submit a Nonprofit Organization Application for Sales Tax Exemption (NP-20A). Contact: Indiana Department of Revenue Tax Administration P.O. Box 6197 Indianapolis, IN 46206-6197 (317) 232-0129 After nonprofit status is granted, file the Indiana Nonprofit Organization's Annual Report NP-20 to maintain state recognition of your sales tax exemption. If the organization has unrelated business income over $1,000 during the tax year, it must also file Form IT-20NP with the Department. For more about nonprofit filing requirements, go to www.in.gov/dor/3650.htm and obtain Information Bulletin #17. The Annual Report and income tax return are due on the fifteenth day of the fifth month following the close of the organization's tax year. Annual Public Hearing Department of Revenue will conduct an annual public hearing on Tuesday, June 4, 2013. Please come and share your ideas on how the Department can better administer Indiana tax laws. The hearing will be held from 9 a.m. to 11 a.m. in the Indiana Government Center South, Conference Center, Room 18, 402 W. Washington St., Indianapolis, Indiana. If you are unable to attend, please submit your concerns in writing to Indiana Department of Revenue, Commissioner's Office, 100 N. Senate Ave., Indianapolis, IN 46204. General Instructions for 2012 Form IT-20NP Who Must File Form IT-20NP If you are filing federal Form 990 or 990T, enclose a copy of the feder
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