Indiana > Statewide > Department Of Revenue > Corporate Income
Financial Institution Tax Booklet FIT-20 - Indiana
| Financial Institution Tax Booklet FIT-20 Form. This is a Indiana form and can be used in Corporate Income Department Of Revenue Statewide . |
|
||||||
 Get this form for FREE as a print-only pdf |
|||||||
|
INDIANA DEPARTMENT OF REVENUE 100 N. SENATE AVE. INDIANAPOLIS, IN 46204-2253 www.in.gov/dor Tax Administration (317) 232-0129 SP 244 (R9/8-12) STATE OF INDIANA STATE OF INDIANA Financial Institution Tax Booklet 2012 Form FIT-20 American LegalNet, Inc. www.FormsWorkFlow.com 2012 Financial Institution Tax Booklet This booklet contains forms and instructions for preparing Indiana financial institution returns for tax year 2012 and for fiscal years beginning in 2012 and ending in 2013. Indiana Department of Revenue Table of Contents General Filing Requirements for FIT-20 Forms and Schedules .......................................................................................3 Instructions for Completing Form FIT-20 ................................................................................................................................6 Net Capital Loss Adjustment for FIT-20 Line 23 - Sample Worksheet ....................................................................... 10 Instructions for FIT-20 Schedule E-U Apportionment of Receipts to Indiana ........................................................ 17 Instructions for Filing a Combined Return: Attributing Receipts of a Taxpayer Filing a Combined Return..................................................................................... 17 Instructions for Schedule FIT-NRTC - Nonresident Tax Credit ...................................................................................... 18 Form FIT-20 - Indiana Financial Institution Tax Return...................................................................(return pages 1-2) FIT-20 Schedule E-U - Apportionment of Receipts to Indiana .......................................................... (return page 3) FIT-20 Schedule H Members of Unitary Group Filing a Combined Return ............................... (return page 4) Schedule FIT-2220 - Underpayment of Estimated Tax by Financial Institutions ........................ (return page 4) Schedule FIT-NRTC - Indiana Financial Instruction Nonresident Tax Credit ........................................................... 23 Instructions for Schedule FIT-20NOL ..................................................................................................................................... 24 Schedule FIT-20NOL - Computation of Indiana Member's Net Operating Loss Deduction ............................. 25 Form FT-ES - Indiana Financial Institution Tax Return - Estimated Quarterly Payment ...................................... 26 Form FT-EXT - Indiana Financial Institution Tax Return - Extension Payment........................................................ 26 Special Reminders ........................................................................................................................................................................ 27 Instructions for Form FT-ES ....................................................................................................................................................... 27 FIT-20 Schedule SUT - Sales/Use Tax Worksheet ............................................................................................................... 28 Find Other Indiana Department of Revenue Forms online at www.in.gov/dor Our home page provides access to forms, information bulletins and directives, tax publications, email, and various filing options. Tax Forms Order Line: (317) 615-2581 2 American LegalNet, Inc. www.FormsWorkFlow.com Annual Public Hearing In accordance with the Indiana Taxpayer Bill of Rights, the Indiana 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. The financial institution tax extends to both resident and nonresident financial institutions and to all other corporate entities when 80% or more of its gross income is derived from activities that constitute the business of a financial institution. The business of a financial institution is defined as activities authorized by the federal reserve board; the making, acquiring, selling, or servicing of loans or extensions of credit; acting as an agent, a broker, or an advisor in connection with leasing real and personal property that is the economic equivalent of an extension of credit; or operating a credit card, debit card, or charge card business. File the general Indiana corporate adjusted gross income tax return, Form IT-20, if for the taxable year you do not meet the 80% threshold of gross income derived from activities that constitute the business of a financial institution. This form is available from the Department's website at www.in.gov/dor/4179.htm. General Filing Requirements for FIT-20 Forms and Schedules Copies of pages 1 through 4 of the corporation's federal income tax return must be enclosed with Form FIT-20 along with Schedule M-3 and the extension of time to file form. This requirement is made under the authority of Indiana Code (IC) 6-5.5-6-5. References to the Internal Revenue Code Due Date of Return Public Law (PL) 137-2012, SEC. 53 updates references to the Internal Revenue Code (IRC) in certain Indiana tax statutes. For tax year 2012, any reference to the Internal Revenue Code and subsequent regulations means the Internal Revenue Code of 1986, as amended and in effect on Jan. 1, 2012. For a complete summary of new legislation regarding taxation, please see 2012 Summary of State Legislation Affecting the Department of Revenue at http://www.in.gov/dor/3656.htm. The annual return is due on or before the 15th day of the fourth month following the close of the corporation's tax year. Utility Services Use Tax An excise tax known as the utility services use tax is imposed on the retail consumption of utility services in Indiana at the rate of 1.4% where the utility receipts tax is not paid by the utility providing the service. You may be liable for this tax if you purchase utility services from outside Indiana (or anywhere if for resale) and become the end user in Indiana of any part of the purchase. The person who consumes the utility service is liabl
|
|||||||
