Arizona Arizona S Corporation Income Tax Return

Arizona S Corporation Income Tax Return
Arizona Form 120S
Arizona Form

120S

2019

Arizona S Corporation Income Tax Return

For the  calendar year 2019 or  fiscal year beginning M M D D 2 0 1 9 and ending M M D D 2 0 Y Y .
CHECK ONE:

Business Telephone Number Name
(with area code)

 Original	

Address – number and street or PO Box
Business Activity Code
(from federal Form 1120-S)

City, Town or Post Office

	 68 	Check box if: A This is a first return	 B Name change C Address change
	 A	 ARIZONA apportionment for multistate S corporations only (check one box):
		 1 AIR CARRIER	 2 STANDARD	 3 SALES FACTOR ONLY
	 B	 Check if Multistate Service Provider Election and Computation (Arizona Schedule MSP) is
included. Indicate the year of the election cycle..	 Yr 1	 Yr 2	 Yr 3	 Yr 4	 Yr 5
	 C	 Is this the S corporation’s final Arizona return under this EIN?........................	 Yes	 No
		
If “Yes”, check one:	 1 Dissolved	 2 Withdrawn	 3 Merged/Reorganized
		
List EIN of the successor corporation, if any......................................	
	 D	 Does the S corporation conduct business within and without Arizona?...........	 Yes	 No
	 E	 Will a composite return be filed on Form 140NR?...........................................	 Yes	 No
	 F	 Total number of nonresident individual shareholders......................................	
	 G	 Total number of resident and part-year resident individual shareholders........	
	 H	 Total number of entity shareholders: See instructions.......................................	
	 Nonprofit Medical Marijuana Dispensary (NMMD) only: See instructions.
	 I	  NMMD Registry Identification Number:	

 Amended

Employer Identification Number (EIN)

State

ZIP Code

Check box if return filed under extension:
82 82F
	

REVENUE USE ONLY. DO NOT MARK IN THIS AREA.

88

81 PM

	 1	 TOTAL DISTRIBUTIVE INCOME (LOSS) from federal Form 1120-S, Schedule K......................................................... 	

66 RCVD

1	00

Complete lines 2-12 only if the S corporation has excess net passive income or capital gains/built-in gains. An S corporation that is
not required to complete lines 2-12 must complete lines 13-25 if the S corporation has a tax liability from the recapture of tax credits.

	 2	 Excess net passive income................................................................................................ 	 2	00
	3	 Capital gains/built-in gains.................................................................................................. 	 3	00
	 4	 Total federal income subject to corporate income tax: Add lines 2 and 3. Enter the difference.......................................... 	
100% AZ S corporations check box 4a . Go to line 11. Multistate S corporations, continue to line 5.................... 	
	 5	 Nonapportionable or allocable income: Include schedule. Multistate S corporations only.................................................. 	
	 6	 Apportionable income: Subtract line 5 from line 4. Enter the difference. Multistate S corporations only........................ 	
	 7	 Arizona apportionment ratio from Schedule A or Schedule ACA........................	
7
•
	 8	 Income apportioned to Arizona: Line 6 multiplied by line 7. Multistate S corporations only............................................ 	
	 9	 Other income allocated to Arizona: Include schedule. Multistate S corporations only........................................................ 	
	 10	 Total income attributable to Arizona: Add lines 8 and 9. Enter the total.......................................................................... 	
	 11	 Net income subject to Arizona corporate income tax:
100% Arizona S corporations: Enter amount from line 4. Multistate S corporations: Enter the amount from line 10........ 	
	 12	 Enter tax: See instructions before completing this line. ......................................................................................................................... 	
	 13	 Tax from recapture of tax credits from Arizona Form 300, Part 2, line 26........................................................................ 	
	 14	 Subtotal: Add lines 12 and 13. Enter the total....................................................................................................................... 	
	 15	 Nonrefundable tax credits from Arizona Form 300, Part 2, line 47.................................................................................. 	
3
3
	 16	 Enter form number for each nonrefundable credit claimed: 161 3
162 3
163
164
	 17	 Tax liability: Subtract line 15 from line 14. Enter the difference................................................................................................ 	
	 18	 Refundable tax credits: Check box(es) and enter amount 181 308 182 349........... 	 18	00
	 19	 Extension payment made with Form 120EXT or online: See instructions............................ 	 19	00
	 20	 Estimated tax payments: See instructions............................................................................ 	 20	00
	 21	 Total payments: Add lines 18 through 20. Enter the total. For amended returns, see instructions................................................ 	
	 22	 Balance of tax due: If line 17 is larger than line 21, subtract line 21 from line 17. Enter the difference. Skip line 23...................... 	
	 23	 Overpayment of tax: If line 21 is larger than line 17, subtract line 17 from line 21. Enter the difference........................................ 	
	 24	 Penalty and interest......................................................................................................................................................... 	
	 25	 Estimated tax underpayment penalty. If Form 220 is included, check box.................................................... 	 25A	
	 26	 Information return penalty: See instructions...................................................................................................................... 	
	 27	 TOTAL DUE: See instructions........................................................................................................................................... 	
	 28	OVERPAYMENT: See instructions.................................................................................................................................... 	
	 29	 Amount of line 28 to be applied to 2020 estimated tax....................................................... 	 29	00
	 30	 Amount to be refunded: Subtract line 29 from line 28. Enter the difference............................................................................. 	
ADOR 10337 (19)

00	
	
5	00
6	00
4	

8	00
9	00
10	00
11	00
12	00
13	00
14	00
15	00
17	00

21	00
22	00
23	00
24	00
25	00
26	00
27	00
28	00
30	00

Name (as shown on page 1)

EIN

SCHEDULE A Apportionment Formula (Multistate S Corporations Only)
IMPORTANT: Qualifying air carriers must use Arizona Schedule ACA.
COLUMN A
Qualifying multistate service providers must include Arizona Schedule
Total Within Arizona
MSP. If the “SALES FACTOR ONLY” box on page 1, line A, is checked, Round to nearest dollar
complete only Section A3, Sales Factor, lines a through f. See instructions.
A1	 Property Factor - STANDARD APPORTIONMENT ONLY
	 Value of real and tangible personal property (by averaging the value
of owned property at the beginning and end of the tax period; rented
property at capitalized value).
	
	
	
	
	
	
	
	

COLUMN B
Total Everywhere
Round to nearest dollar.

Be certain to enter
amounts in Column C
carried to six decimal
places. You must type
the decimal.

a	 Owned Property (at original cost):
1	Inventories.......................................................................................
2	Depreciable assets (do not include construction in progress) ................
3	Land................................................................................................
4	Other assets (describe):
.
5	Less: Nonbusiness property (if included in above totals)....................
6	Total of section a (the sum of lines 1 through 4 less line 5).....................

	 b	 Rented property (capitalize at 8 times net rent paid).................................
c	 Total owned and rented property (Total of section a plus section b)........

•

A2	 Payroll Factor - STANDARD APPORTIONMENT ONLY
	 Total wages, salaries, commissions and other compensation to
employees (per federal Form 1120S, or payroll reports)................................
A3	 Sales Factor
a	 Sales delivered or shipped to Arizona purchasers.............................
b	 Sales of services for qualifying multistate service providers
only (include Schedule MSP).................................................................

	
	

COLUMN C
Ratio Within Arizona
A÷B

c	 Other gross receipts...........................................................................
d	 Total sales and other gross receipts...................................................
e	 Weight AZ sales: (STANDARD x 2; SALES FACTOR ONLY x 1).......
f	 Sales Factor (for Column A, multiply line d by line e; for
Column B, enter the amount from line d; for Column C, divide
Column A by Column B.)
STANDARD Apportionment, continue to A4.
SALES FACTOR ONLY Apportionment, enter the amount from
Column C on page 1, line 7. ..................................................................

•

	×2	 OR	 ×1

•

A4	 STANDARD Apportionment Total Ratio: Add Column C of lines A1c, A2, and A3f. Enter the total. ..................................

•

A5	 Average Apportionment Ratio for STANDARD Apportionment: Divide line A4, Column C, by four (4). Enter the result
on page 1, line 7. (If one of the factors is “0” in both Column A and Column B, see instructions.)..........................................

•

SCHEDULE B

Other Information

B1	 Date business began in Arizona or date income was first derived from Arizona sources: M M D D Y Y Y Y
B2	 Address at which tax records are located for audit purposes:
	
Number/Street:
	
City:
	
State:
	
ZIP Code:
B3	 The taxpayer designates the individual listed below as the person to contact to schedule an audit of this return and authorizes the disclosure of
confidential information to this individual. (See instructions, page 12.)
Name:	
	 Phone Number:
(Area Code)
	Title:	
B4	 List prior taxable years ending in MM/DD/YYYY format for which a federal examination has been finalized:
NOTE: A.R.S. § 43‑327 requires the taxpayer, within ninety days after final determination, to report these changes under separate cover to the
Arizona Department of Revenue or to file amended returns reporting these changes. (See instructions, page 2.)
B5	 Indicate tax accounting method:

	ADOR 10337 (19)

 Cash  Accrual  Other (Specify method.)

AZ Form 120S (2019)

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Name (as shown on page 1)

SCHEDULE C

EIN

Shareholder Information

Complete Schedule C for all shareholders of the S corporation. If the S corporation has more than 8 shareholders, include additional schedules as
necessary.
(a)
Shareholder Name
1

(b)
Street Address
(c)
City, State ZIP

(d)

(e)

Shareholder
Shareholder’s
Tax Information
Ownership
Number
Percentage

(f)
(g)
Distributive
Resident (R)
Share of Income Nonresident (N)
(Loss)
Other Entity (O)

001.000000

15

015.000000

27

o

2

3

4

5

6

7

8

Include additional sheets as necessary

The following declaration must be signed by one or more of the following officers: president, treasurer, or any other principal officer.
Declaration

Under penalties of perjury, I(we), the undersigned officer(s) authorized to sign this return, declare that I(we) have examined this return,
including the accompanying schedules and statements, and to the best of my(our) knowledge and belief, it is a true, correct and
complete return, made in good faith, for the taxable year stated pursuant to the income tax laws of the State of Arizona.

Please
Sign

OFFICER’S SIGNATURE

DATE

TITLE

OFFICER’S SIGNATURE

DATE

TITLE

Here

PAID PREPARER’S SIGNATURE

Paid
Preparer’s

DATE

PAID PREPARER’S PTIN

FIRM’S NAME (OR PAID PREPARER’S NAME, IF SELF-EMPLOYED)

FIRM’S EIN

FIRM’S STREET ADDRESS

FIRM’S TELEPHONE NUMBER

Use
Only

CITY

STATE

ZIP CODE

Mail to: Arizona Department of Revenue, PO Box 29079, Phoenix, AZ 85038-9079
Print
	ADOR 10337 (19)

AZ Form 120S (2019)

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