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Shareholder Information > Vermont tab
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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
Nonresident filer
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. |
Supplemental information
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.