Utah State Taxes

Andrew Butler on

Hi All -

Just a couple quick questions as we get into tax season -

1) Does an investment club have to register a DBA in Utah?
2) Does an investment club have to file a Utah State
partnership tax return or is it only individual members who
need to file?
3) Does Bivio have the ability to print the Utah tax forms
(if applicable)?

Thanks so much for anyone's input!

Andy

Laurie Frederiksen on

Hi Andy,

According to the links on this page, you do need to file a DBA in Utah. There is a link to the form also on the page:

http://www.sba.gov/content/register-your-fictitious-or-doing-business-dba-name/

Here is a link to the Utah TC-65 Partnership return instructions.

http://www.google.com/url?q=http://tax.utah.gov/forms/current/tc-65inst.pdf&sa=U&ei=O_cuT8CEEdSftwfYlszdDw&ved=0CAQQFjAA&client=internal-uds-cse&usg=AFQjCNGdcLrx_5kG6ibAi_5l-PTAwLi5AA

From them, it doesn't look like you need to file a state tax return for your club:

A partnership or other entity treated as a partnership for
federal tax purposes, all of whose partners or members
are Utah resident individuals, is not required to fi le a
Utah return, TC-65, if:
* it is not a pass-through entity taxpayer, and
* it maintains records that show each partner's or
member's share of income, losses, credits, and
other distributive items, and those records are made
available to the Tax Commission upon request.

However, we are not Utah state tax experts. If you have any additional questions, here's a link you can use to contact them to check for sure:

http://tax.utah.gov/contact

--
Laurie Frederiksen
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Andrew Butler on

Thanks Laurie! I appreciate the info.

Andy

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