Shareholder Information > Vermont tab

Use the state tabs in the
Shareholder Information
window to enter state-specific information for shareholders. State tabs appear only if you've added states to the return.
To update a shareholder's state-specific information, select that shareholder in the
Shareholder Information
window, then the state tab.

Fields and buttons — Vermont information group box

If the shareholder is a nonresident, enter a code from the following table or select the code from the dropdown list to indicate the type of nonresident filing to be made by the shareholder. If the shareholder is a nonresident, UltraTax CS defaults to passing the income through to the shareholder.
Code
Description
1
Individual return filer (default)
.
This is the default filing for nonresident shareholders when a code is not selected from the dropdown list. Select 
1
to indicate the shareholder is filing separately as a nonresident.
2
Composite filer
.
Select
2
to indicate the corporation is filing a composite return on behalf of the nonresident shareholder. UltraTax CS completes Form BI-471 - Business Income Tax Return and calculates the net tax due for participating nonresident shareholders.
Use this for supplemental information specific to each shareholder and for items that are not pro rata. If you have pro-rata items that need to be reported to each shareholder, use Section A on the
VTKSep
screen. UltraTax CS prints the information you enter in this statement as a statement on Schedule K-1VT, Page 2 for each shareholder.
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