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Clear Form C Form CIT 2018 Montana Corporate Income Tax Return No Staples Include a copy of federal Form 1120 as filed with the Internal Revenue Service For calendar year 2018 or tax year beginning M M D D 2 0 1 8 and ending M M D D Y Y Y Y Name - FEIN Mailing Address Federal Business Code/NAICS State Incorporated in City State Zip 4 on M M D D Y Y Y Y Date Qualified in Montana MT Secretary of State ID Mark all that apply Initial Return Final Return q Amended Return Refund Return Part I - Filing Method. 1. Mark this box if you are protected under the provision of Public Law 86-272. How many companies are claiming protection under Public Law 86-272 If marked Schedule K must be completed and included with your tax return skip questions 2 through 5 of this part. 2. Are you a member parent or subsidiary of a consolidated group for federal purposes ....................................... Yes 3. Are you filing a combined return for Montana purposes ......................................................................................... Yes 4. If you answered Yes to questions 2 or 3 above then mark one of the following filing methods and include Schedule M a* Separate Company d. Domestic Combination b. Separate Accounting e. Limited Combination Attach statement c* Worldwide Combination f* Water s Edge You must have a valid election and Schedule WE must be included* Form 1120 that you filed with the Internal Revenue Service and enter a* Ultimate U*S* parent s name as reported on federal tax return Part II - Amended Return Only. Mark all that apply. a* Federal Revenue Agent Report include a complete copy of this report. b. NOL carryback/carry forward list year s of loss. Schedule NOL must be included* c* Apportionment factor changes include a statement explaining all adjustments in detail* d. Amended federal tax return form 1120X include a complete copy of the federal Form 1120X. e. Application and/or change in tax credit list type of credit being claimed* f* Other include a statement explaining all adjustments in detail* Part III - General Questions. All questions must be answered* a* Describe in detail the nature and location s of your Montana activities if necessary provide the description on an additional page . b. How many members of the unitary group had property payroll or receipts in Montana or have an interest in a pass-through entity with Montana activity during the taxable period c* Is this your corporation s first Montana tax return .................................................................................................. Yes No If this corporation is a successor to a previously existing business enter the predecessor s information Office Use Only Date Received 18EP0101 2018 Form CIT Page 2 Period End Date M M D D Y Y Y Y Part III - continued If Yes please include detailed statement and indicate whether your corporation has Withdrawn Merged Dissolved Reorganized Date of withdrawal dissolution merger or reorganization M M D D Y Y Y Y If applicable enter the successor s name e. For any tax period s has the Internal Revenue Service issued an official notice of change or correction that you have not filed with the Montana Department of Revenue ............................................................................... Yes No If Yes indicate what period s f* Are any statute of limitation waivers currently in force that have been executed with the Internal Revenue Service .................................................................................................................................................................. Yes If Yes which taxable year s is covered and what is the expiration date s of the waiver s g. Have you filed an amended federal tax return for any of the last five taxable periods .......................................... If Yes for which years have you filed amended Montana returns h. Did an individual at the end of the taxable year own directly or indirectly 50 or more of the voting stock of ...... Yes No and of ownership i. Did a partnership corporation estate or trust at the end of the taxable year own directly or indirectly 50 or more of the voting stock of this corporation .............................................................................................. If Yes enter name j. If the answer to question h or i is Yes did the same individual partnership corporation estate or trust at the end of the taxable year also own directly or indirectly 50 or more of the voting stock of another brother-sister corporation .................................................................................................................................... Yes No k. Did this corporation or any member of the consolidated group own directly or indirectly 50 or more of the outstanding voting stock of a domestic corporation that is not included in the consolidated group ...................... Yes No If Yes how many corporations .................... Yes No m* Was your corporation owned 50 or more directly or indirectly by a corporation or entity that was organized or incorporated outside the U*S* ........................................................................................................... Yes No domestic partnership If Yes how many partnerships foreign partnership If Yes how many partnerships p* For multistate taxpayers when computing the Montana receipts apportionment factor using market sourcing was reasonable approximation used to assign receipts see instructions If Yes provide a brief description Part IV - Reporting of Special Transactions. Mark Yes if you filed any of the following forms with the Internal Revenue Service. You need to include with your Montana tax return a complete copy of any of these applicable forms. a* I filed federal Form 8886 Reportable Transaction Disclosure Statement with the Internal Revenue Service. Form 8886 is used to disclose information for each reportable transaction in which you participated* Schedule UTP is used to disclose uncertain tax positions. c* I filed IRC Section 965 Transaction Tax Statement as part of my 2017 federal income tax filings. Computation of Montana Taxable Income and Net Amount Due 1. Taxable income reported on your federal tax return line 28 include a copy of signed federal Form 1120 ..................................................................................................................................1. 2. Additions 2a* State local foreign and franchise taxes based on income include breakdown of your Form 1120 line 17 ................................................2a* 2b. Federal tax exempt interest..................................................................2b. 2c* Contributions used to compute qualified endowment credit................. 2c* 2d. Income/loss of foreign parent and foreign subsidiaries for worldwide combined filers.....................................................................................2d. consolidated return*..............................................................................2e. 2f* Deemed dividends Water s Edge filers only include Schedule WE .. 2f* Edge filers only.....................................................................................2g. 2h. Federal capital loss carry-over utilized on federal return include Schedule D ..........................................................................................2h. 2i. All of your other additions include a detailed breakdown .................... 2i. Add lines 2a through 2i and enter the result* This is the total of your additions.................................2. 3. Reductions 3a* IRC Section 243 dividend received deduction*.....................................3a* 3b. Nonapportionable income include a detailed breakdown .................. 3b. 3c* Montana recycling deduction include Form RCYL ............................. 3c* 3f* Capital loss incurred in current year include federal Schedule D ....... 3f* 4. Add lines 1 and 2 then subtract line 3 and enter the result* This is your adjusted taxable income...4. lines 5 through 10 below. See instructions 5. Income apportioned to Montana multiply line 4 x from Schedule K line 5 ............5. 6. Enter the income that you allocated directly to Montana include a detailed breakdown .......................6. 7. Montana taxable income before net operating loss add lines 5 and 6 or enter amount reported on line 4 ..................................................................................................................................................7. If line 7 is a loss do you wish to forego the net operating loss carry-back provision Note If you have reported a loss on line 7 and have not marked either box the loss has to be carried back first. 8. Enter your Montana net operating loss carried over to this period..........................................................8. Use Schedule NOL of Form CIT on page 14 to calculate your net operating loss carryover. 9. Subtract line 8 from line 7 and enter the result here. This is your Montana taxable income..............9. 10. Multiply line 9 by 6.75 or line 9 by 7 if you have a valid Water s Edge election . This is your Montana tax liability. This amount cannot be less than the minimum tax liability of 50. .................10. Form CIT instructions before checking this box . Questions Call us at 406 444-6900 or Montana Relay at 711 for hearing impaired* 11. Your Montana tax liability from line 10.................................................................................................... 11. 12. Payments 12a* 2017 overpaymenta 12a* 12b. Tentative payment.......................................................................................... 12b. 12c* Quarterly estimated tax payments...................................................................12c* 12d. Montana mineral royalty tax withheld include Form s 1099 ........................ 12d. 12e. Montana tax withheld from pass-through entities include MT Schedule s K-1 ......12e. 12f* All other payments. Describe. ........ 12f* 12g. Previously issued refunds. Do not include any overpayments to 2019. g 12g. 13. Enter total credits from Schedule C .....................................................................................................13. 15. Enter the amount of overpayment that you want to be applied to your 2019 estimated tax. 15. 16. Add lines 14 and 15 enter the result* This is your net tax due or overpayment...............................16. 17. Enter interest on all the tax paid after the due date see instructions ...................................................17. 18. Enter estimated tax underpayment interest include Form CIT-UT .......................................................18. 19. Penalty 19a* Enter your late filing penalty see instructions ...............................................19a* Add lines 19a and 19b enter the result* This is your total penalty................................................19. 20. Add lines 16 through 19 enter the result on line 20a or 20b below. 20a* If the result is positive enter the amount due here. This is your total amount due..........................20a* Visit our website at revenue.mt.gov for electronic payment options or include your remittance payable to Montana Department of Revenue. Direct Deposit Your Refund 1. RTN 2. ACCT Checking Savings Complete 1 2 3 and 4 3. If using direct deposit you are required to mark one box. see instructions . 4. Is this refund going to an account that is located outside of the United States or its territories Under penalties of false swearing I declare that I have examined this return including accompanying schedules and statements and to the best of my knowledge and belief it is true correct and complete. Signature of Officer Date X Print/Type Preparer s Name Firm s Name Printed Name and Title Preparer s Signature Telephone Number Firm s Address PTIN Firm s FEIN May the DOR discuss this tax return with your tax preparer Please mail your completed Form CIT to Montana Department of Revenue PO Box 8021 Helena MT 59604-8021 Schedule K - Apportionment Factors for Multi-State Taxpayers Enter dollar values in columns A and B. Enter percentages in column C. A. Everywhere B. Montana* For combined filers also complete Schedule-K Combined see instructions 1.Property Factor Enter average values for real and tangible personal property. 1a* Land.......................................................................................1a* 1b. Buildings.................................................................................1b. 1c* Machinery............................................................................... 1c* 1d. Equipment..............................................................................1d. 1e. Furniture and fixtures.............................................................1e. 1f* Leases and leased property....................................................1f* 1g. Inventories..............................................................................1g. 1h. Depletable assets...................................................................1h. 1i. Supplies and other.................................................................. 1i. 1j. Property of foreign subs included in combined group*............ 1j. 1k. Property of unconsolidated subs included in combined group*.... 1k. 1l* Property pro-rata share of pass-throughs included in group*.... 1l* 1m* Multiply amount of rents by 8 and enter result*..................... 1m* Total Property Value - add lines 1a through 1m Divide the total in column B by the total in column A. Multiply that result by 100. This is your property factor.......... 1. 2.Payroll Factor 2a* Compensation of officers........................................................2a* 2b. Salaries and wages................................................................2b. Payroll included in 2c* Costs of goods sold................................................................ 2c* 2d. Other deductions....................................................................2d. 2e. Payroll of foreign subs included in combined group*.............. 2e. 2f* Payroll of unconsolidated subs included in combined group*.... 2f* 2g. Payroll pro-rata share of pass-throughs included in group*... 2g. Total Payroll Value - add lines 2a through 2g 3.Gross Receipts Factor 2018 Change to Market Sourcing 3a* Gross receipts less returns and allowances.......................... 3a* 3b. Receipts delivered or shipped to Montana purchasers 1 Shipped from outside Montana*....................................................................................... 3b. 1 2 Shipped from within Montana*......................................................................................... 3b. 2 3c* Receipts shipped from Montana to 1 United States government............................................................................................... 3c* 1 2 Purchasers in a state where the taxpayer is not taxable..................................................... 3c* 2 3d. Receipts other than receipts of tangible personal property for example service income ...............................................................................................3d. 3e. Net gains reported on federal Schedule D and federal Form 4797.3e. 3f* Other gross receipts rents royalties interest etc* ................ 3f* 3g. Receipts of foreign subs included in combined group*........... 3g. 3h. Receipts of unconsolidated subs included in combined group*.....3h. 3i. Receipts pro-rata share of pass-throughs included in group*.... 3i. 3j. Less All intercompany transactions........................................ 3j. Total Receipts Value - add lines 3a through 3j 4.Add the percentages on lines 1 2 and 3 in column C. This is the sum of your factors. .......................................... 4. a property payroll or receipts factor is 0 it is included in the calculation for line 4 if there is a value in Column A C. Factor Schedule M - Affiliated Entities Complete the schedules below if your corporation has an affiliated relationship with another business entity. Please note that all schedules must be completed if your corporation is a member of a U*S* consolidated group and has affiliated relationships with other business entities. 1. Members of a U*S* Consolidated Group Include your information in the following schedule for all members of your U*S* consolidated group* If additional space is needed attach another copy of the Schedule M for this section* Federal Form 851 is not an acceptable substitution for this section* A B D E F G Federal Employer Identification Number Name of affiliate/subsidiary/parent corporation Included Have any Mark if filing in this Considered a activities Montana Form Percentage of Disregarded Montana CIT separate in unitary Entity ownership from this filing unitary filing 2. Affiliated Entities Include information in the following schedule for all business entities that are not included in the U*S* consolidated group i*e* partnerships limited liability companies foreign disregarded entities foreign subsidiaries owned greater than 50 or unconsolidated subsidiaries owned greater than 50 . Include entities that are owned by your corporation and entities that are owned by all members of your U*S* consolidated group* If additional space is needed attach another copy of the Schedule M for this section* Type of entity Have any i*e* foreign activities subsidiary Percentage of Montana Name of entity Montana subsidiary Yes No LLC LLP DER 3. Foreign Parent and Affiliated Entities If you are owned directly or indirectly greater than 50 by a corporation incorporated in a foreign country provide the name of the foreign parent and any foreign subsidiaries owned greater than 50 by the foreign parent. If additional space is needed attach another copy of the Schedule M for this section* i*e* foreign Have any foreign disregarded Schedule C - Tax Credits Column A Current Year Earned Type of Credit Nonrefundable Credits Total Available 1. New/Expanded Industry Credit............................................................. 1. 2. Montana Dependent Care Assistance Credit include Form DCAC ..... 2. 3. Montana College Contribution Credit include Form CC ..................... 3. 4. Health Insurance for Uninsured Montanans Credit include Form HI ..... 4. 5. Montana Recycle Credit include Form RCYL .................................... 5. 6. Alternative Energy Production Credit include Form AEPC ................ 6. 7. Contractor s Gross Receipts Tax Credit include supporting schedule .............................................................. 7. 8. Alternative Fuel Credit include Form AFCR ....................................... 8. 9. Infrastructure Users Fee Credit include Form IUFC .......................... 9. 10. Qualified Endowment Credit include Form QEC .............................. 10. 11. Historical Buildings Preservation Credit include federal Form 3468 ..... 11. 12. Increase Research and Development Activities Credit...................... 12. 13. Mineral and Coal Exploration Incentive Credit include Forms MINE-CRED and MINE-CERT ................................. 13. 14. Empowerment Zone Credit................................................................ 14. 15. Biodiesel Blending and Storage Credit include Form BBSC ............ 15. 16. Geothermal System Credit include Form ENRG-A .......................... 16. 17. Innovative Educational Program Credit.............................................. 17. 18. Student Scholarship Organization Credit........................................... 18. 19. Apprenticeship Tax Credit................................................................... 19. This is your total nonrefundable credits........................................ 20. Refundable Credits 21. Emergency Lodging Credit include Form ELC ................................. 21. 22. Unlocking Public Lands Credit........................................................... 22. 23. Add lines 21 and 22 and enter the result* Tax Credits Recapture 27. Add lines 24 through 26 and enter the result* 28. Add totals of lines 20 and 23 then subtract line 27. Enter the result here. This is the total of your credits. Enter the total in column C on Form CIT page 4 line 13................................................................... 28. To receive these credits you will have to include this Schedule C and the applicable credit forms or other required information* Schedule K-Combined for Montana Form CIT Separate Corporation Calculations Land............................................................................................................................1a* Buildings......................................................................................................................1b. Machinery....................................................................................................................1c* Equipment...................................................................................................................1d. Furniture and fixtures..................................................................................................1e. Leases and leased property.........................................................................................1f* Inventories...................................................................................................................1g. Depletable assets........................................................................................................1h. Supplies and other.......................................................................................................1i. Property of foreign subs included in combined group*.................................................1j. Property of unconsolidated subs included in combined group*...................................1k. Property pro-rata share of pass-through entities included in combined group*......... 1l* Multiply amount of rents by 8 and enter result*..........................................................1m* Total Montana average property Add lines 1a through 1m above ........................1n* Total Everywhere average property Enter in each column the total of lines 1a through 1m in the Everywhere column* .....1o. 1p Separate entity Property Factor Divide line 1n by line 1o and multiply the result by 100. 1p* 2h Total Montana payroll Add lines 2a through 2g above. ........................................2h. 2k Total Payroll Factor Add columns on line 2j . ...........................................................2k. Please include the amounts in columns A and B on Schedule K. Activity Montana Separate Corporation Activity Corporate Name Grand Total of Montana 1a 1b 1c 1d 1e 1f 1g 1h 1i 1j 1k 1l 1m 1n 1o 3. Receipts Factor 3k Total Montana receipts Add lines 3a through 3j . ...................................................3k. Divide line 3k by line 3l and multiply the result by 100. ........................................3m* 4. Sum of the Factors Add lines 1p 2j and 3m for each corporation* ....................... 4. be included in the calculation* See instructions on page 8. ........................................5a* Total Apportionment Factor Add columns on line 5a and enter here. 5b This should equal page 5 line 5 of the Schedule K. .............................................................5b. 6a 6b 6c 6d 6e 6f 6g 6h 6i 6j 6k 6l 6m 6n 6o Montana adjusted taxable income. Enter the amount from CIT page 3 line 4. ......................................................6a* Total income apportioned to Montana* Add columns on line 6b . Enter this amount on line 5 page 3 of the CIT. .....6c* Income directly allocated to Montana*........................................................................................................................6d. Total income directly allocated to Montana* Add columns on line 6d . Enter this amount on line 6 page 3 of the CIT. ....6e. Montana net operating loss NOL carryover on a separate entity basis...................................................................6h. Total NOL carryover Add columns on line 6h . Enter this amount on line 8 page 3 of the CIT. ..............................6i. Montana credits on a separate entity basis Attach applicable form s . ....................................................................6n* These totals must be reported on lines 5 through 10 on page 3 of the CIT. Schedule NOL for Montana Form CIT Net Operating Loss NOL Deduction 1. Corporation name 2. Corporation s federal tax identification number FEIN 3. Date of merger/consolidation see instructions 4. 2018 Montana separate corporation taxable income before NOL deduction enter line 6 f from Carryforward deductions 5. Taxable period of NOL 5 a . Total NOL for taxable period................................. 5 a . 5 b . NOL applied to periods other than to 2018...........5 b . 5 c . NOL carryforward to 2018....................................5 c . 5 d . NOL expired due to 7 year carryforward..............5 d . 5 e . NOL available for carryforward.............................5 e . 10 d . NOL available for carryforward...........................10 d . 12. Total separate corporation NOL carryforward to 2018 Add column B lines 5 through 11.............................. 12. Enter corporate information from previous page. NOL deduction enter line 6 f from Schedule K-Combined AMENDED RETURNS - carryback deductions 13 c . NOL carryback to 2018 Total carryback for all entities limited to 500 000 ...............................13 c . 13 d . Net NOL for taxable period.................................13 d . to 2018 from previous page line 12.........................17. 2018 add lines 16 and 17 and enter total on page 3 line 8 - for combined filers enter on line 6 h of Schedule K-Combined ..........................18. Schedule WE - Water s Edge Schedule Part I. Water s Edge Election 1. Enter the tax periods for which you received an approval letter from the department for a valid Water s Edge Election Part II. Calculation of Deemed Dividends Received from 80/20 Companies 1. Enter the positive federal line 30 income of your 80/20 companies. See instructions ..........................1. 2. Enter your consolidated 1120 positive federal line 30 income. See instructions ...................................2. 3. Divide the amount on line 1 by the amount on line 2. This is the ratio of your 80/20 positive income to your consolidated 1120 positive income..............................................................................................3. 4. Enter the tax liability after tax credits which you reported on your consolidated 1120...........................4. 6. Enter the section 78 gross-up received by your 80/20 companies include schedule ...........................6. 7. Subtract the total of lines 5 and 6 from line 1 enter the result* This is the after-tax net income of your 80/20 companies. If the result is less than zero enter zero............................................................7. 8. Enter the after-tax net income of all unconsolidated 80/20 companies...................................................8. 9. Add lines 7 and 8 enter the result* This is your total after-tax net income..............................................9. page 3. This is your 20 deemed dividend.......................................................................................10. . Part III. List your 80/20 Companies. Include a separate sheet if necessary. 1. Name 2. FEIN 3. Income/Loss 4. Dividends Received 2. Entity Type 3. Country of Incorporation/ Organization.