Get Form It-20s

Filling out the Form IT-20S is essential for Indiana S corporations to report their income tax accurately. This guide provides you with clear, step-by-step instructions to help you complete the form efficiently and correctly.

Follow the steps to fill out the Form IT-20S online:

1. Press the ‘Get Form’ button to access the form and open it in your selected online environment.
2. Begin by entering the name of your corporation in the designated field. If there has been a name change, check the corresponding box.
3. Input the federal identification number of your corporation.
4. Provide the number and street address, along with the Indiana county or out-of-state location.
5. Fill in the principal business activity code and the city, followed by the ZIP code.
6. Enter your telephone number for contact purposes.
7. Indicate the date of incorporation and the state where the incorporation took place.
8. Check the box to specify the state of commercial domicile of the corporation.
9. Select all relevant options that apply to your entity by checking the corresponding boxes.
10. Input the total number of shareholders as well as the number of nonresident shareholders.
11. Select your accounting method from the options provided: Cash, Accrual, or Other.
12. If applicable, check the box to indicate that you have a valid extension of time to file your return.
13. If the corporation filed as a C corporation for the prior tax period, check the respective box.
14. Enter the date of election as an S corporation.
15. Complete the areas related to excessive net passive income and built-in gains, referring to federal forms as necessary.
16. Summarize the calculations based on your tax liabilities by filling in the totals and relevant amounts as they appear in the sections.
17. Lastly, review all entries for accuracy, then save your changes, and choose to download, print, or share the completed form.

Start filling out your Form IT-20S online today to ensure timely and accurate tax reporting.