The Alabama 20S form is a tax return specifically designed for S corporations operating in Alabama. This form provides essential information regarding the corporation's income, deductions, and tax liability for the fiscal year. Understanding the details and requirements of the 20S form is crucial for compliance and accurate tax reporting.
The Alabama 20S form is an essential document for S corporations operating within the state, serving as their official tax return. This form is designed to report the income, deductions, and credits of the corporation for a specific tax year, typically from January 1 to December 31. Key sections of the form include the computation of separately stated and nonseparately stated income, as well as the allocation of income and expenses to Alabama. It requires detailed information such as the corporation's federal employer identification number, business code, and total federal income. Additionally, the form includes schedules for apportionment factors, which help determine how much of the corporation's income is taxable in Alabama versus other states. Amended returns can also be filed using this form, allowing corporations to correct previous submissions. Understanding the intricacies of the Alabama 20S form is crucial for compliance and accurate tax reporting for S corporations in the state.
FORM
*1000012S*
ALABAMA
•CY
20S
DEPARTMENT OF REVENUE
•SY
2010
•FY
S Corporation Information/Tax Return
For the year January 1 – December 31, 2010, or other tax year beginning •_______________________, 2010, ending •_______________________, _________
Important
FEDERAL BUSINESS CODE NUMBER
FEDERAL EMPLOYER IDENTIFICATION NUMBER
Data Summary
•
Total federal income
Check
NAME
Total federal deductions
applicable
box:
ADDRESS
Total assets as shown on Form 1120S
Initial
Return
CITY
STATE
9-DIGIT ZIP CODE
Alabama Apportionment Factor from
Final
Schedule C, line 26
STATE OF INCORPORATION
NATURE OF BUSINESS
DATE QUALIFIED IN ALABAMA
CN
Amended
CHECK IF THE CORPORATION
NUMBER OF SHAREHOLDERS DURING
IF YOU FILED A RETURN FOR 2009 AND THE ABOVE
OPERATES IN MORE THAN ONE STATE•
TAX YEAR •
NAME AND ADDRESS IS DIFFERENT, CHECK HERE
UNLESS A COPY OF FORM 1120S IS ATTACHED, THIS RETURN IS INCOMPLETE
SCHEDULE A – Computation of Separately Stated and Nonseparately Stated Income / Tax
1
Federal Ordinary Income or (Loss) from trade or business activities . . . .
. .
. . .
. . . . . . . . . . . . . . . . . . . . . . . . . .
. . . .
00
2
Net short-term and long-term capital gains – income or (loss)
3
. . . . . . . . . .Salaries and wages reduced for federal employment credits
•(
00 )
4
. . . . . . . . . . . . . . . . . . . . . .State and local net income taxes paid/(refund)
5
Net income or (loss) from rental real estate activities
Reconciliation
6
Net income or (loss) from other rental activities
to Alabama
7
Net gain or (loss) under I.R.C. §1231 (other than casualty losses)
Basis (SEE
8
Adjustments due to the Federal Economic Stimulus Act of 2008
INSTRUCTIONS)
(attach schedule)
. . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . .
. . . . .
.
. . . . . .
9
. . . . . . . . . . . . . . . . . . . . . . . .Other reconciliation items (attach schedule)
10
Net reconciling items (add lines 2 through 9)
. . . . . . .
11
. .Net Alabama nonseparately stated income or (loss) (add line 1 and line 10)
12
Contributions . . .
13
. . . . . . . .Oil and gas depletion
14
. . . . . . . . . . . . . . .I.R.C. §179 expense deduction (complete Schedule K)
15
Casualty losses .
Separately
Stated Items
16
. . . . . . . . . . . . . . .Portfolio income less expenses (complete Schedule K)
(Related to
17
Other separately stated items (attach schedule)
18
Net separately stated items (add line 12 through 17)
Business
Income)
19
. . . . . . . . . . . . . . . . . . . . . . . .Total separately stated and nonseparately stated items (add line 11 and line 18)
20
. . . . . . . . . . . .Nonseparately Stated Income Allocated and Apportioned to Alabama from Schedule E, line 7
21
ALABAMA INCOME TAX (see instructions and attach schedule)
22
Tax Payments, Credits, and Deferrals:
a. 2010 estimated tax payments and amounts applied
from 2009 return
22a
. . . . . . . . . . . . . . . . . .b. Automatic extension payments (see instructions)
22b
c. Payments prior to amendment (original return or
Department adjustment) . . .
22c
Tax Due,
. . . . . . . . . . . .d. Tax credits (from line 3, Schedule G) (see instructions)
22d
Payments,
. . . . . . . . . .e. Total payments (add lines 22a, 22b, 22c and 22d)
22e
23
NET TAX DUE (subtract line 22e from line 21)
and
24
Reductions/applications of overpayments
Credits
a. Penalties (see instructions)
24a
. . . . . . . . . . . . . . . . . . . . . . . . .b. Interest due (computed on tax due only)
24b
c. Amount to be credited to 2011 estimated tax
24c
d. Total reductions/applications (add lines 24a, 24b and 24c)
24d
25
. . . . . . . . . . . . . . . . . . . . .Amount to be refunded (see instructions)
26
. . . . . .TOTAL AMOUNT DUE
. . . . . . . . . . . . . . . . . . . . .
If paying by check or money order, FORM BIT-V MUST ACCOMPANY PAYMENT.
If you paid electronically check here
ADOR
*1000022S*
Page 2
FORM 20S – 2010
SCHEDULE B – Allocation of Nonbusiness Income, Loss, and Expense
Identify by account name and amount all items of nonbusiness income, loss, and expense removed from apportionable income and those items which are directly allocable to Alabama. Adjustment(s) must also be made for any proration of expenses under Alabama Income Tax Rule 810-27-1-4-.01, which states, “Any
allowable deduction that is applicable to both business and nonbusiness income of the taxpayer shall be prorated to each class of income in determining income subject to tax as provided…” (See instructions).
DIRECTLY ALLOCABLE ITEMS
ALLOCABLE GROSS INCOME / LOSS
RELATED EXPENSE
NET OF RELATED EXPENSE
Column A
Column B
Column C
Column D
Column E
Column F
Everywhere
Alabama
(Col. A less Col. C)
(Col. B less Col. D)
Nonseparately stated items
1a
1b
1c
1d Total (add lines 1a, 1b, and 1c)
Separately stated items
1e
1f
1g
1h Total (add lines 1e, 1f, and 1g)
SCHEDULE C – Apportionment Factor Schedule. Do not complete if entity operates exclusively in Alabama.
TANGIBLE PROPERTY AT COST FOR
EVERYWHERE
PRODUCTION OF BUSINESS INCOME
BEGINNING OF YEAR
END OF YEAR
Inventories
Land
Furniture and fixtures
Machinery and equipment
Buildings and leasehold improvements
IDB/IRB property (at cost)
Government property (at FMV)
Less Construction in progress (if included)
Totals
Average owned property (BOY + EOY ÷ 2)
Annual rental expense
x8 =
. . . . . . . . . . . . . . . . . . . . . . . . . . . . .Total average property (add line 11 and line 12)
13a
13b
Alabama property factor — 13a ÷ 13b = line 14
. . . . . . . . . . .
%
SALARIES, WAGES, COMMISSIONS AND OTHER COMPENSATION
15a
15b
15c
RELATED TO THE PRODUCTION OF BUSINESS INCOME
Alabama payroll factor — 15a ÷ 15b = 15c
SALES
Destination sales
. . . . . . . . . . . . . . . . . . . . . . . .Origin sales
. . . . .Total gross receipts from sales
. . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . .Dividends
. . . . . . . . . . . . . . . . . . . . . . . .Interest
. . . . . . . . . . . . . . . . . . . . . . . .Rents
. . . . . . . . . . . . . . . . . . . . . . . .Royalties
. . . . . . .Gross proceeds from capital and ordinary gains
24Other •___________________________________ (Federal 1120S, line •_____ ) •
Alabama sales factor — 25a ÷ 25b = line 25c
25a•
25b•
25c•
Sum of lines 14, 15c, and 25c ÷ 3 = ALABAMA APPORTIONMENT FACTOR (Enter here and on line 4, Schedule E, page 3)
*1000032S*
Page 3
SCHEDULE D – Apportionment of Federal Income Tax
1 Enter the federal income tax from Federal Form 1120S
1 •
2Enter the Alabama income from line 7, Schedule E below, if applicable. (If corporation operates
exclusively in Alabama, do not complete lines 2-8.)
. . . . . . . . . . . . .
. . . . 2
Apportionment of separately stated items
x •
% = 3c
3a
3b
Enter in line 3a the amount from line 18, Schedule A
Apportionment Factor
(line 26, Schedule C)
Separately stated items allocated to Alabama (line 1h, Column F, Schedule B)
. . . . 4
Total (add lines 2, 3c and 4)
. . . . . . . . . . . . . . . . . . . . . . . . .
. . . . 5
. . . . . . . . . . . . . . .Adjusted total income (add line 19, Schedule A to line 1h, Column E, Schedule B)
. . . . 6
Federal income tax apportionment factor
(line 5 divided by line 6)
. . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . .
. . . 7
Federal income tax apportioned to Alabama (multiply line 1 by the percent on line 7)
. . . 8
SCHEDULE E – Apportionment and Allocation of Income to Alabama
Net Alabama nonseparately stated income or (loss) from line 11, Schedule A
. . . . . . . . . . . . . . .
. . . . 1
Nonseparately stated (income) or loss treated as nonbusiness income (line 1d, Column E, Schedule B)
– please enter income as a negative amount and losses as a positive amount
Apportionable income or (loss) (add line 1 and line 2)
. . . . 3
Apportionment ratio from line 26, Schedule C
Income or (loss) apportioned to Alabama (multiply amount on line 3 by percent on line 4)
Nonseparately stated income or (loss) allocated to Alabama as nonbusiness income (Column F, line 1d, Schedule B)
Nonseparately Stated Income Allocated and Apportioned to Alabama (add lines 5 and 6). Also enter this amount on
line 2, Schedule D; line 20, Schedule A; and line 1, Schedule K
SCHEDULE F – Alabama Accumulated Adjustments Account
Beginning balance (prior year ending balance) . . .
. . . . . . . . . . . . . . . . . . . . . . . .
. . . 1
Net Alabama nonseparately stated income or (loss) (line 11, Schedule A)
. . . 2
Net separately stated items (line 18, Schedule A)
. . . 3
Federal income tax deduction (line 1, Schedule D)
. . . 4
Separately stated nonbusiness items (line 1h, Column E, Schedule B)
. . . 5
Other additions/(reductions) (Do not include tax exempt income and related expenses)
. . . 6
Less distributions
Ending balance (total appropriate lines) . .
SCHEDULE G – Tax Credits (CAUTION – SEE INSTRUCTIONS)
Employer Education Tax Credit
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . .
Coal Credit
. . . . . . . . . .TOTAL (add lines 1 and 2). Enter here and on line 22d, Schedule A
SCHEDULE H – The Following Information Must Be Entered For This Return To Be Considered Complete
Indicate tax accounting method used:
Cash •
Accrual
Other
2Briefly describe your Alabama operations: •
3Enter this company’s Alabama Withholding Tax Account No.: •
4Person to contact for information concerning this return:
Name •
Telephone Number • (
)
Email Address
5Location of the corporate records: •
6Check if an Alabama business privilege tax return was filed for this entity: •
7If the privilege tax return was filed using a different FEIN, please provide the name and FEIN used to file the return:
FEIN: •
NAME:
*1000042S*
SCHEDULE K – Distributive Share Items
1 Alabama Nonseparately Stated Income (Schedule E, line 7) . . . . . .
Separately Stated Items:
2 Contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3 Oil and gas depletion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 I.R.C. §179 expense deduction
a. Amount allowed on federal Form 1120S . . . . . . . . . . . . . . . . . . . . .
b. Adjustments required . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
c. Amount to be apportioned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5 Casualty losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 Portfolio income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7 Interest expense related to portfolio income. . . . . . . . . . . . . . . . . . . . .
8 Other expenses related to portfolio income (attach schedule) . . . . .
9 Other separately stated business items (attach explanation) . . . . . .
10 Small business health insurance premiums (attach explanation) . . .
11 Separately stated nonbusiness items (attach schedule) . . . . . . . . . .
12 Composite payment made on behalf of owner/shareholder . . . . . . .
13 U.S. taxes paid (attach explanation) . . . . . . . . . . . . . . . . . . . . . . . . . . .
14 Alabama exempt income (attach explanation) . . . . . . . . . . . . . . . . . . .
Transactions with Owners:
15 Property distributions to owners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Page 4
Federal Amount
Apportionment
Alabama Amount
Enter on Alabama
Factor
Schedule K-1
Part III, Line M
Part III, Line S
Part III, Line Z
Part III, Line O
Part III, Line W
Part III, Line Q
Part III, Line P
Part III, Line R
Part III, Line T
Part III, Line Y
Part III, Line AA
Part III, Line U
Part III, Line V
Part III, Line AB
100%
Part III, Line X
•I authorize a representative of the Department of Revenue to discuss my return and attachments with my preparer.
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are
Please
true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Sign
Signature
Date
Daytime Telephone No.
Social Security No.
Here
of Officer
(
Title
Preparer’s
Telephone No.
Preparer’s Social Security No.
Paid
Use Only
Firm’s Name (or yours • if self-employed)
and address •
Email
Address
E.I. No. •
ZIP Code •
CHECK LIST
HAVE THE FOLLOWING FORMS BEEN ATTACHED TO THE FORM 20S:
ALABAMA SCHEDULE K-1 (one for each shareholder)
ALABAMA SCHEDULE NRA (if applicable)
FEDERAL FORM 1120S (entire form as filed with IRS)
FEDERAL FORM 1120S PROFORMA (if applicable)
FORM BIT-V (if applicable)
Returns without Payments
Returns with Payments
MAIL TO: Alabama Department of Revenue
Pass Through Entity
PO Box 327441
PO Box 327444
Montgomery, AL 36132-7441
Montgomery, AL 36132-7444
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