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Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.
Use the state tabs in the Shareholder Information window to enter state-specific information for shareholders. State tabs appear only if you have added states to the return.
To update a shareholder's state-specific information, click that shareholder in the Shareholder Information window, and then click the appropriate state tab.
Fields & buttons
Minnesota information group box
If the shareholder is a nonresident, enter a code from the following table or select the code from the drop-down list to indicate the type of nonresident filing to be made by the shareholder. If the shareholder is a nonresident, UltraTax CS defaults to calculate regular withholding for the shareholder.
| Code |
Description |
| 1 |
Withholding (default)
This is the default option for nonresident shareholders when a code is not selected from the drop-down list. Select this option to indicate the shareholder is subject to regular withholding. UltraTax CS will not complete Form AWC for this shareholder. |
| 2 |
Exempt from withholding
Select this option to indicate the shareholder is exempt from withholding. UltraTax CS will not complete Form AWC for this shareholder. |
| 3 |
Alternative withholding, filing Form AWC
Select this option to indicate the shareholder is subject to withholding on Form AWC. |
| 4 |
Composite filer
Select this option to indicate the corporation is filing a composite return on behalf of the nonresident shareholder. UltraTax CS completes the composite portion of Form M8 for participating nonresident shareholders. |
UltraTax CS provides this statement dialog for supplemental information specific to each shareholder. Use this statement dialog for items that are not pro-rata. If you have pro-rata items that need to be reported to each shareholder, use Section A in Screen MNKSep. UltraTax CS prints the information you enter in this statement dialog in the Schedule KS statements.
Withholding information group box
Enter the distributive income for this shareholder. If you do not enter an amount in this field, UltraTax CS automatically calculates the amount of distributive income to be reported on Form AWC, line 1.
Enter the tax paid or to be paid by this nonresident shareholder to be reported on Form AWC, line 3.
Enter any other tax withheld from other income for this shareholder that is to be reported on Form AWC, line 4.
Enter the tax to be withheld on this shareholder if that amount is other than what is mandated by Minnesota law. If you do not enter an amount in this field, UltraTax CS automatically calculates the amount of tax withheld on the nonresident shareholder who is not a composite filer and uses this amount on Schedule KS.
Enter the date the shareholder signed the Alternate Withholding Form.
Depreciation adjustments group box
Enter the amount of Section 168(k) depreciation addback for the indicated tax years for each shareholder.
Enter the amount of Section 179 addback for the indicated tax years for each shareholder.
UltraTax CS
