Form E2147 V1 Fillable Franchise Tax on Financial Institutions for Trust Companies
(all forms fillable on Windows, Mac, Android tablets, and iPad using Adobe Reader XI)

0 400 000 000 6% 0 Federal Income I have not conducted any business in South Dakota during Refund of overpayment State Additions Waive right to refund credit as prepayment for following ( Credit overpayment to:: Business in South Dakota) Unchecked ("Net Income" of cash over accrual method of accounting ) (1) (2) (1) (2) (3) (1) Total deposits in the U S (2) Total deposits in South Dakota (3) Ratio (2) : (1) % (4) Total Receipts from securities used to maintain (5) Receipts attributable to S D (3) x (4) (a) Interest dividends and net gains from transactions in securities (a) Land (a) the base of operations or if there is not a base of operations the place from which the service is directed or controlled is in this state; or (b) (Apportionable income (line 10 minus line 11)) 0 (Apportionment Ratio) 0 (Average value of real and tangible personal property: Automobiles total everywhere) (Average value of real and tangible personal property: Automobiles within SD) (Average value of real and tangible personal property: Buildings total everywhere) (Average value of real and tangible personal property: Buildings within SD) (Average value of real and tangible personal property: Furniture and Fixtures total everywhere) (Average value of real and tangible personal property: Furniture and Fixtures within SD) (Average value of real and tangible personal property: Land total everywhere) (Average value of real and tangible personal property: Land within SD) (Average value of real and tangible personal property: Machinery and Equipment total everywhere) (Average value of real and tangible personal property: Machinery and Equipment within SD) (Average value of real and tangible personal property: Other total everywhere) (Average value of real and tangible personal property: Other within SD) (Average value of real and tangible personal property: Rented Property total everywhere) (Average value of real and tangible personal property: Rented Property within SD) (b) Buildings (b) Receipts from securities pledged to secure public or trust funds (b) special deductions (Federal Schedule I) 2b (c) Machinery and equipment (c) Receipts from securities used to maintain reserves against deposits (Click here for help on completing this form ) HELP (Click on button to print After printing mail to address provided in instructions ) PRINT FOR MAILING (Credits Due to Overpayments) (d) Furniture and fixtures (e) Automobiles (eForm identifier) 2147 (eForm version) V1 (Estimated Payments) (Examined) (f) Other (Federal Income: Less (a) net operating loss (attach schedule)) (Federal Income: Less (b) special deductions (Federal Schedule I)) (Federal Income: Taxable income before net operating loss and special deductions) (g) Rented property: net annual rental rate times eight (In certain cases Line 3 may not be less than 0 See Instruction S ) (Line 5 minus Line 8) (Lines 2 + 3 + 4) $ (Lines 6 + 7) $ (Net Income after adjustments) 0 (Net Income) (Payroll Factor: Wages salaries commissions and other compensation of employees ratio) 0 (Payroll Factor: Wages salaries commissions and other compensation of employees totals everywhere) (Payroll Factor: Wages salaries commissions and other compensation of employees within SD) (Receipts factor: Interest discount net gains fees commissions service charges and other receipts from rendering financial or fiduciary services ratio) 0 (Receipts factor: Interest discount net gains fees commissions service charges and other receipts from rendering financial or fiduciary services total everywhere) (Receipts factor: Interest discount net gains fees commissions service charges and other receipts from rendering financial or fiduciary services within SD) (Required field Credit overpayment to:: Following year) Unchecked (Required field Credit overpayment to:: Refund) Unchecked (Required field Enter accounting method ) (Required field Enter date business began in South Dakota ) (Required field Enter Federal employer I D number ) (Required field Enter money lender license number ) (Required field Enter mortgage broker license number ) (Required field Enter mortgage lender license number ) (Required field Is business carried on entirelyin S D ?: N) Unchecked (Required field Is business carried on entirelyin S D ?: Y) Unchecked (Required field Is this a final return? If yes date canceled: N) Unchecked (Required field Is this a final return? If yes date canceled: Y) Unchecked (Required field Is this a subsidiary or parent to subsidiary corporation?: N) Unchecked (Required field Is this a subsidiary or parent to subsidiary corporation?: Y) Unchecked (Required field Select or type a city) (Required field Select or type a county) (Required field Select or type a state abbreviation) (Required field Type in name) (Required field Type in the address ) (Required field Type in the contact person ) (Required field Type in the last two digits of the year ) (Required field Type in the name address and phone number of persons who assisted in preparing return) (Required field Type in the phone number) (Required field Type in the zip code) (Required field Year Beginning: Type in the month ) (Required field Year Ending: Type in the month ) (see instructions) (Select or type a city) (Select or type a city) (Select or type a county) (Select or type a county) (South Dakota assignment of apportionable income (line 12 times line 9)) 0 (South Dakota Net Income (Line13 plus line 14)) 0 (State Additions: Bad debt deducted on Federal return (J K)) (State Additions: Bad debt recoveries (J K) [attach schedule]) (State Additions: Capital loss to be included pursuant to SDCL 10 43 10 2(9)(T)) (State Additions: Dividends received from other corporations (M)) (State Additions: Federal income tax refund (L)) (State Additions: Interest and dividends from state and municipal obligations (H)) (State Additions: Net operating or capital losses incurred prior to July 1 1978 (G)) (State Additions: State income franchise or privilege taxes paid or accrued (I)) (State Deductions: "Net Income" of accrual over cash method of accounting (U)) (State Deductions: Additional depreciation expenses (Q) [attach schedule]) (State Deductions: Bad debt reserve adjustments added pursuant to Sec 585(c) or IRC) (State Deductions: Bad debts ascertained to be worthless and charged off (J K) [attach schedule]) (State Deductions: Capital gain to be deducted pursuant to SDCL 10 43 10 3(8)(W)) (State Deductions: Dividends from financial institutions subject to taxation under SDCL 10 43 (P)) (State Deductions: Federal income taxes paid or accrued (N)) (State Deductions: Interest and dividends prohibited from state taxation [attach schedule and give authority] (O)) (State Deductions: Interest expense disallowed for Federal purposes by IRC Sections 265(b) & 291(e)(1)(B)) (State Deductions: Meal and entertainment expense disallowed under SEC 274(N) or IRC(V)) (Tax Due (Lines 3 4 + 5 smaller than line 2)) 0 (Tax Due (Lines 3 4 + 5 smaller than line 2)) 0 (Taxable Income (Line 1 less Line 2) In certain cases Line 3 may not be less than 0 ) 0 (text) (text) 0 (text) 10 (text) 11 (text) 12 (text) 13 (text) 16 (text) 18 (text) 19 (text) 20 (text) 21 (text) 23 (text) 24 (text) 6 (text) 7 (text) 8 (text) 9 (text) Complete and use the button at the end to print for mailing (text) N (text) N (text) SD EForm (text) Y (text) Y (Total Everywhere: (a) Interest dividends and net gains from transactions in securities (see instructions)) (Total Everywhere: (b) Receipts from securities pledged to secure public or trust funds (see instructions)) (Total Everywhere: Net rental receipts (attach schedule)) (Total Everywhere: Receipts from transactions in securities including stocks bonds and all other money markets instruments) (Total non apportionable income everywhere) 0 (Total non apportionable income within South Dakota) 0 (Total Property Values Ratio) 0 (Total Property Values total everywhere) 0 (Total Property Values within SD) 0 (Total receipts from securities used to maintain reserve requirements) (Total receipts from securities used to maintain reserve requirements) 0 (Total Tax 6% If line 1 exceeds $400 000 000 use rate table page 6 Minimum tax Page 3 (E)) (Total Tax 6% If line 1 exceeds $400 000 000 use rate table page 6 Minimum tax Page 3 (E)) (Total) 0 (Use this button to clear the form ) CLEAR FORM (Within SD: (a) Interest dividends and net gains from transactions in securities (see instructions)) (Within SD: (b) Receipts from securities pledged to secure public or trust funds (see instructions)) (Within SD: (c) Receipts from securities used to maintain reserves against deposits to meet Federal and state reserve requirements: (1) Total deposits in the U S ) (Within SD: (c) Receipts from securities used to maintain reserves against deposits to meet Federal and state reserve requirements: (2) Total deposits in South Dakota) (Within SD: Net rental receipts (attach schedule)) (Within SD: Receipts attributable to SD (3) x (4)) 0 (Within SD: Receipts from transactions in securities including stocks bonds and all other money markets instruments) *1120 S page 1 line 21 1065 page 1 line 22 1040 page 1 line 12 or Schedule C line 31 *1120 S Schedule M 1 line 3b 1065 Schedule M 1 line 4b 1040 Schedule C line 24b *1120 S Schedule M 1 line 5a 1065 Schedule M 1 line 6a *Include all licenses to which this return applies *This is an indication of where on the Federal Income Tax return the information may be found This is a reference guide only 1 2 Billion 1/4% 1 2 Billion 1 Net Income $ 1 Net rental receipts (attach schedule) 1 Taxable income before net operating loss and special deductions 1 10 Dividends received from other corporations (N) 10 10 Net income after state adjustments line 25 page 2 11 Less non apportionable income line 3 column (2) 11 Net Income of cash over accrual method of accounting (T) 1 1120 S 990 1040 or 1065 along with schedules 12 Apportionable income (line 10 minus line 11) 12 Capital loss to be included pursuant to SDCL 10 43 10 2(9) (U) 12 13 South Dakota assignment of apportionable income (line 12 times line 9) 13 Total Add lines 3 through 12 13 14 Bad debts ascertained to be worthless and charged off (K L) [attach schedule] 14 14 South Dakota non apportionable income line 3 column (1) 15 Federal income taxes paid or accrued (O) 15 15 South Dakota Net Income (line 13 plus line 14) 16 Interest and dividends prohibited from state taxation [attach schedule and give authority] (P) 16 17 Dividends from financial institutions subject to taxation under SDCL 10 43 (Q) 17 18 Additional depreciation expenses (R) Section 179 [attach schedule] 18 19 Interest expense disallowed for Federal purposes by IRC Sections 265(b) & 291(e)(1)(B ) 19 2 Less (a) net operating loss (attach schedule) 2a 2 Receipts from transactions in securities including stocks bonds 2 Total Tax 6% $ 20 Net Income of accrual over cash method of accounting (V) 20 21 Meal and entertainment expense disallowed under SEC 274(N) of IRC(W) 21 22 Capital gain to be deducted pursuant to SDCL 10 43 10 3(8)(X) 22 23 Bad debt reserve adjustments added pursuant to Sec 585(c) of IRC 23 24 Total Add Lines 14 through 23 24 25 Net Income after adjustments Line 13 minus Line 24 25 3 Interest 1 25% per Month $5 minimum $ 3 Total non apportionable income 4 Average value of real and tangible personal property: 4 Net operating or capital losses incurred prior to July 1 1978 (H) 4 4 Penalty 10% of unpaid tax $ 400 000 000 425 000 000 5% 400 000 000 425 000 000 450 000 000 4% 425 000 000 43 and the rules and regulations thereunder this day of 20 445 E Capitol Avenue 450 000 000 475 000 000 3% 450 000 000 475 000 000 500 000 000 2% 475 000 000 5 Interest and dividends from state and municipal obligations (I) 5 5 Tax Due 5 Total property values add lines 4a through 4g 500 000 000 600 000 000 1% 500 000 000 6 Credits Due to Overpayments $ 6 Payroll factor: Wages salaries commissions and other 6 State income franchise or privilege taxes paid or accrued (J) [attach schedule] 6 600 000 000 1 2 Billion 1/2% 600 000 000 7 Bad debts recoveries (K L) [attach schedule] 7 7 Estimated Payments $ 7 Receipts factor: Interest discount net gains fees 8 Bad debts deducted on Federal return (K L) 8 8 Payments 8 Total column (3) 9 Apportionment ratio 9 Federal income tax refund (M) 9 9 Tax Due or Credit $ A Money Lender License Number ADDITIONAL DEPRECIATION EXPENSE LINE 18 Additional depreciation expenses to provide for the amortization of the excess if any Address: All net income shall be apportioned to this state by multiplying the net income by a fraction the numerator of which is the property factor plus the amount will be assessed and all other money markets instruments: and amortized over the remaining depreciable life of that asset or group of assets and charged off within the tax year must be added to taxable income and the office of the financial institution which made the purchase or entered into the participation is in South Dakota; or (c) the loan was Apportionment Ratio Apportionment Schedule Apportionment Schedule Instructions at the rate of one and one quarter (1 ) percent per month or fraction of a month shall be added to the tax or additional tax and paid SDCL 10 Attach a copy of the Federal Income Tax Form 1120 Attach remittance payable to the State Treasurer and ATTN: Special Tax Division authority for exclusion Avenue Pierre SD 57501 See instructions for due date average value of all the financial institution s real and tangible personal property owned or rented and used during the tax period in all the states B Mortgage Broker License Number BAD DEBT DEDUCTION ALLOWABLE LINE 8 AND 14 Bad debts deductions in excess of credits actually ascertained to be worthless BAD DEBT RECOVERIES LINE 7 Any amount subsequently received on account of a bad debt previously charged off in computing net be attributed to this state if the financial institution s office where the deposits are maintained is in South Dakota; (c) Receipts from securities but the individual s residence is in this state C Mortgage Lender License Number City County City: State: commissions service charges and other receipts company organized under the laws of this state or any other state doing business within this state any person licensed in this state pursuant to compensation of employees COMPUTATION OF NET INCOME The computation of net income generally follows the determination of taxable income under the Internal Computation of South Dakota Net Income Contact Person: County Share $ County: D Federsal Employer ID Number DATE ON WHICH TAX SHALL BE PAID A taxpayer whose tax liability from a previous year exceeded $10 000 is required to remit deducted in computing federal taxable income must be restored to taxable income in computing net income for state purposes Department Of Revenue Department of Revenue pay the estimated tax due and the Department of Revenue will extend the filing date for the Bank Franchise Tax DIVIDENDS FROM RELATED CORPORATIONS LINE 17 Dividends received from financial institutions subject to the South Dakota dividends have been deducted from net income as determined under the Internal Revenue Code DIVIDENDS RECEIVED FROM OTHER CORPORATIONS LINE 10 Dividends received from other corporations to the extent that such E Date business was licensed in South Dakota ends on a date other than December 31st the estimated amount shall be made on or before the 15th day of the month following the end of the Enter Amount of Line 15 on Line 1 Page 1 estimate If your fiscal year ends on December 31 your estimates are due on the 15th of April July October and January If your fiscal year event shall the tax payable be less than the minimum set by SDCL 10 43 90 (Authorized to engage in the trust business in South Dakota less Examined EXTENSION OF TIME TO FILE Taxpayers filing an extension with the IRS may also file an extension with DRR Submit a copy of your F Accounting method FEDERAL INCOME TAX REFUND LINE 9 Any amount received as a federal income tax refund shall be added to taxable income provided FEDERAL INCOME TAXES PAID OR ACCRUED LINE 15 Federal income taxes shall be deducted from taxable income in the year in FILING OF RETURNS Returns are due fifteen days after the taxpayer s federal income tax return is due All taxpayer s shall submit a copy Financial institutions engaged in business within and without this state shall be taxed only on such income as is properly apportioned to this state FINANCIAL INSTITUTIONS REQUIRED TO FILE A RETURN Any banking institution or savings and loan association organized under For Department use Only for himself deposes and says that this return including the accompanying schedules and statements has been examined by him and is For the year beginning 20 and ending 20 FOR TRUST COMPANIES franchise tax shall be deducted to the extent that such dividends are included in federal taxable income from rendering financial or fiduciary services G Is business carried on entirely in S D? H Name address and phone number of persons who assisted in I Is this a final return? if yes date canceled I the undersigned president owner or pincipal officer of the business for which this return is made being severally duly sworn each If all income is derived from sources within this state transfer amount of line 25 page 2 to line 1 page 1 If income is derived from If amount assigned is: If yes attach a copy of the agent s report Income And Adjustment Schedule INCOME FRANCHISE OR PRIVILEGE TAXES PAID LINE 6 Income franchise or privilege taxes paid or accrued to any state or political income in the year in which they are incurred when the accrual method of accounting is used in determining net income income shall be added to taxable income individual s service is performed entirely within this state; or the individual s service is performed both within and without the state but the institution s real and tangible personal property owned or rented and used in this state during the tax period and the denominator of which is the Instructions INTEREST AND DIVIDENDS FROM STATE AND MUNICIPAL OBLIGATIONS LINE 5 Interest or dividend income derived from IRS extension form and pay an estimate of the tax due If your tax liability exceeds your estimated tax payments due interest for the unpaid J Has the federal government redetermined your income tax K City and County of each license number in South Dakota liability for any prior years which has not been reported? Line 11 SDCL 10 43 10 2(8) cash method of accounting preserved Line 12 SDCL 10 43 10 2(9) capital loss from liquidating sale within 12 month period Line 20 SDCL 10 43 10 3(6) cash method of accounting preserved Line 21 SDCL 10 43 10 3(7) meal and entertainment expenses allowed Line 22 SDCL 10 43 10 3(8) capital gain from liquidating sale within 12 month period mail to the Department of Revenue 445 E Capitol Mail To: Make remittance payable to: South Dakota State Treasurer Minimum tax See Page 3 (E) Name: NET OPERATING LOSSES AND CAPITAL LOSSES LINE 4 Net operating losses or capital losses incurred prior to July 1 1978 and NET RENTAL RECEIPTS LINE 1 Net rental receipts from the rental of real or tangible personal property shall be attributed to this state if net taxable income on line 3 to an amount less than zero Non apportionable Income Non apportionment incomeApportionment Ratio obligations or securities of states or political subdivisions or authorities thereof shall be added to taxable income to the extent that such interest of property shall be determined by averaging the values at the beginning and ending of the tax period if reasonably required to reflect properly of the remaining undepreciated tax basis as determined under the provisions of this chapter over the depreciable basis as determined for federal of the United States the District of Columbia and any territory or political subdivision thereof Property owned by the financial institution is of their federal income tax return filed with the Internal Revenue Service complete with schedules for the tax year office of the financial institution located in South Dakota; or (b) the loan was purchased or involved in participation or other pooling arrangement Only losses incurred during the current taxable year will reduce line 3 to an amount less than zero Net operating loss carryovers may not reduce or dividend income has been excluded in computing federal taxable income other receipts from the rendering of financial or fiduciary services shall be included in the numerator if the service is principally performed in Over But Not Over Tax due is Of the Amount Over Overpayment Reconciliation : P INTEREST AND DIVIDENDS PROHIBITED FROM STATE TAXATION LINE 16 Interest and dividends from obligation of the United payroll factor plus the receipts factor the denominator of which is three PENALTY AND INTEREST If the Secretary of Revenue discovers from the examination of the return or otherwise that the net income of the period by the financial institution for compensation and the denominator of which is the total compensation paid in all states of the United Phone No : Pierre SD 57501 3185 Please reference your license number on the extension request preparing return Print Signature of President or Owner: PROPERTY FACTOR LINES 4 AND 5 The property factor is a fraction the numerator of which is the average value of the financial quarter which the estimate is due Your quarterly estimates must total at least 90% of the total amount due from your last tax year quarterly estimates of the amount of tax estimated to be due One fourth of the estimated tax liability must be paid with each quarterly Questions should be directed to your tax preparer RATE OF TAX MINIMUM PAYMENT All trust companies are required to pay tax on net income at the rate set by SDCL 10 43 4 but in no RECEIPTS FROM TRANSACTIONS IN SECURITIES LINE 2 (a) Interest dividends and net gains for transactions in securities including reported on the federal return are listed on line 4 through 26 see instructions below reserve requirements Revenue Code except for certain specified items Include a copy of Federal Form 1120 and schedules Adjustments to be made to items SDCL 47 31B must file an annual return SDCL 54 4 and any person in the business of buying loans notes or other evidences of debt but not including brokers licensed pursuant to service performed without the state is incidental to the individual s service within the state; or some of the service is performed in the state and; Signature of Preparer: Signature of President or Owner: sold and acceptance and other installment obligations shall be included in the numerator if; (a) the loan was applied for by the borrower at an solicited by an employee of the financial institution and such employee is located in South Dakota Fees commissions service charges and sources within and without this state complete the apportionment schedule on page 4 South Dakota South Dakota except that: (b) Receipts from securities owned by a financial institution but held or pledged to secure public or trust funds shall South Dakota Franchise Tax on Financial Institutions SPT 600B 04/11 State Adjustments to Federal Taxable Income in Computing Net Income State Deductions State Share $ States governments and its agencies which this state is prohibited by federal law or treaty from taxing by an income privilege or franchise tax to States the District of Columbia and any territory or political subdivision thereof during the tax period Compensation is paid in this state if the stocks bonds and all other money market instruments are attributed to this state if the financial institution s principal place of business is in subdivision thereof shall be added to taxable income to the extent that such taxes were deducted in determining federal taxable income tax purposes Such excess shall be determined as of January 1 1977 or on the first day of the first taxable year starting after January 1 1977 Tax Rate Schedule Taxable Income (Line 1 less Line 2) 3 taxpayer is incorrect or that no return was filed when one was due penalty at the rate of ten percent of the tax or additional tax due and interest than 1 year = $500 00; 1 2 years = $2 000 00; 2 3 years = $5 000 00; 3 4 years = $10 000 00; and over 4 years = $25 000 00) the annual rental rate paid by the taxpayer less any annual rental income received by the financial institution from subleases The average value the average value of the financial institution s property the base of operations or place from which the service is directed or controlled is not in any state in which some part of the service is performed the deposits in South Dakota bear to total deposits in all of the states of the United States District of Colombia and any territory or subdivision the District of Columbia and all territories and political subdivisions thereof Interest discount and net gain from loans including federal funds the extent such interest and dividends are included in federal taxable income shall be subtracted Attach schedule and give United States Code the laws of the United States and located or doing business in this state and any bank savings and loan association mutual savings bank or trust THE PAYROLL FACTOR LINE 6 The payroll factor is a fraction the numerator of which is the total amount paid in this state during the tax the property is principally located in South Dakota Attach schedules showing gross rents less related expenses for such property THE RECEIPTS FACTOR LINE 7 The receipt factor is a fraction the numerator of which is the total receipts of the financial institution in the state during the tax period and the denominator of which is the total receipts of the financial institution in all the states of the United States the tax was deducted when originally paid thereof this fiscal year To apply for an extension: If you have applied for an extention to file your Federal Income Tax return you may file a copy with the to coincide with your Federal Income Tax return filing date to meet Federal and state reserve requirements: to the best of his knowledge and belief a true and complete return made in good faith for the taxable year stated pursuant to SDCL 10 used to maintain reserves against deposits to meet federal and state reserve requirements shall be attributed to this state based on the ratio that valued at its original cost Property rented by the financial institution is valued at eight times the net annual rental rate Net annul rental rate is which they are paid when the cash method of accounting is used in determining net income Federal income taxes shall be deducted from taxable Within S Dakota Total Everywhere Ratio: 1 : 2 Within South Dakota Total Everywhere Zip code +4: