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This article applies to:

  • Product: UltraTax CS
  • Return type: 1120 Corporation
  • State: Texas

Prepare a combined return

Use this procedure to ensure the correct preparation of Texas Combined Franchise tax returns, including Form 05-166 for the Texas Franchise Affiliate Schedule.
  1. Add Texas to the parent client and the subsidiaries and complete all data entry for these member clients.
    note
    • Make sure each member's state return is complete and correct before proceeding to the next step.
    • You'll need to complete apportionment data entry for each member client, even if the client is 100 percent in-state. Select
      View
      , then
      Apportionment
       to enter the data.
  2. In the parent client return, select
    File
    , then
    Client Properties
    .
  3. On the
    Texas
     tab, mark the
    Reporting entity of unitary group
     checkbox.
  4. Select
    OK
     to close the
    Client Properties
     window.
    note
    • A
      Unitary
       input screen folder is now available in the list of input screen folders.
    • You can't use a consolidated federal return to create a combined return. You'll need to create a combined return using the client in the Texas parent return.
  5. In each subsidiary client's return, select
    File
    , then
    Client Properties
    .
  6. Go to the
    Texas
     tab and enter the
    Parent EIN
    .
  7. Print preview each subsidiary client return to prepare the member state return information to share data into the reporting entity return.
  8. Open the reporting entity client return and go to the
    Texas
     input screens.
    note
    • The
      Data Sharing — Pending Updates
       window opens listing each subsidiary client available to share data.
    • A client won't be listed in the
      Data Sharing
       window if you didn't complete steps 5 and 6, or if you don't enter the member client's numeric
      EIN
       by selecting
      File
      ,
      Client Properties
      , then the
      Federal
       tab.
  9. Select the 1st member, then
    Add Unit
     in the
    Data Sharing
     window.
    note
    There will be a list of the data to be imported into the reporting entity client return.
  10. Select
    Accept and import new source data
    , then
    Accept
    .
  11. Repeat this step for each member of the unitary group.
    note
    If the reporting entity return includes members that aren't available to share data, you can select
    Edit
    , then
    Add Unit
     on the
    TXAdjA
     screen to add a unit of the
    Unitary
     input screens.
  12. Select the
    Texas Unitary
     input screen folder.
    note
    The 1st unit includes data for the reporting entity transferred from the
    TXAdj
     screen. There are separate units of the
    Unitary
     input screens for each member client with shared data.
  13. Review each unit of the
    Unitary
     input screens and complete the data entry.
  14. Print and review the Texas Combined Franchise tax return.

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