TC-65: UtahPartnership-Limited Liability Company Return of Income (2024)
Utah · Utah Tax Commission · Used for tax years 2024
Utah Form TC-65 is the 2024 return for partnerships, limited liability partnerships and limited liability companies. It reports Utah income or loss allocated to pass-through entity taxpayers, pass-through withholding tax, Utah use tax, payments, and any amount due or refund.
Who files this form
TC-65 is Utah’s partnership, limited liability partnership, and limited liability company return. Its entity-type choices include general partnerships, limited partnerships, limited liability partnerships, limited liability companies, and “Other.” The supplied form does not state the full rules for who must file.
A partnership with nonresident individual partners, resident or nonresident business partners, or resident or nonresident trust or estate partners must complete Schedule N to calculate withholding for those partners.
What you'll need
Have these forms and records available, as applicable:
- Federal Form 1065 and Schedule K: Schedule A uses federal net income or loss, contributions, and foreign taxes.
- Federal Schedules K-1: Schedule A uses Section 179 deduction recapture amounts. Utah Schedule K-1 also directs filers to use federal Schedule K-1 amounts for Utah resident partners on lines 1 through 16.
- Entity information: Name, address, EIN, Utah incorporation or qualification number, registration date, and dissolution date if dissolved.
- Partner information: Names, addresses, SSNs or EINs, ownership percentages, income, deductions, credits, and withholding information.
- Tax and payment records: Utah use tax and prepayments for the year.
- Nonbusiness income records: Asset acquisition dates, beginning and ending investment values, income, and related expenses for Schedule H.
- Apportionment records: Utah and total property, payroll, and sales information for Schedule J, if applicable.
- Credit records: Utah Schedules K-1 from upper-tier pass-through entities and Forms TC-675R for credits reported on TC-250.
Common mistakes
- Treating an extension as extra time to pay withholding. The form says the pass-through withholding tax on line 3 must be paid by the return’s due date, without extensions.
- Including pass-through withholding tax or credits in line 6 prepayments. Line 6 specifically says not to include them.
- Leaving Schedule H incomplete. The schedule warns that failure to complete it may result in disallowance of nonbusiness income.
- Using Schedule J when it does not apply. Its note says to use it only if the entity does business in Utah and at least one other state and income must be apportioned to Utah.
- Using the wrong amounts on Utah Schedule K-1. For lines 1 through 16, the note directs Utah residents to use federal Schedule K-1 amounts and Utah nonresidents to see the instructions. All filers complete lines 17 through 19 if applicable.
Questions people ask
Who signs TC-65?
The form has a signature line for a general partner or member manager, along with the date and title.
Can an overpayment be applied to next year?
Yes. Enter the amount of the line 12 overpayment you want applied to next year on line 13. Line 14 shows the remaining refund.
Where do I report pass-through withholding tax?
Enter total Schedule N, column J withholding on TC-65, line 3, and Schedule K, line 19. Report each partner’s column J withholding on that partner’s Schedule K-1, line 19.
Does Schedule N allow a withholding waiver?
Yes. If partners will pay Utah tax on their own returns, Schedule N provides code “1” to claim a waiver for all partners and code “2” for some partners. For each partner covered by the waiver, enter “X” in column B and “0” in column F. The form directs filers to the Schedule N instructions for liability responsibilities when claiming a waiver; those instructions were not supplied.