Official Delaware 1902 B Form in PDF

The Delaware Form 1902 B serves a specific purpose for holding companies and investment companies, but it shares similarities with several other documents used in corporate tax reporting and compliance. Below is a list of nine documents that are similar to the Delaware 1902 B form, along with an explanation of how they are alike.

• IRS Form 1120: This is the U.S. Corporation Income Tax Return. Like the Delaware 1902 B, it requires corporations to report their income, deductions, and tax liability, ensuring compliance with federal tax laws.
• IRS Form 1065: This form is used for partnerships to report income, deductions, and other information. Similar to the 1902 B, it necessitates detailed reporting of income sources and ownership interests.
• IRS Form 990: Non-profit organizations use this form to report their financial information. Both forms require detailed disclosures about income sources and activities, although the 990 is tailored for tax-exempt entities.
• Your Texas Benefits Renewal Form: This essential document aids Texas residents in renewing their eligibility for state benefits, ensuring they receive continuous support. For more information and to access the form, visit Texas PDF Forms.
• California Form 100: This is the California Corporation Franchise or Income Tax Return. Like the Delaware 1902 B, it serves to report corporate income and determine tax liabilities at the state level.
• New York Form CT-3: This is the New York Corporation Tax Return. Similar to the 1902 B, it requires corporations to disclose income sources and calculate state tax obligations based on their activities.
• Texas Franchise Tax Report: This report is required for businesses operating in Texas. Like the Delaware 1902 B, it involves reporting revenue and determining tax liability based on business activities.
• Florida Corporate Income Tax Return (Form F-1120): This form is similar in that it requires corporations to report income and deductions to assess tax liability, much like the Delaware 1902 B.
• Michigan Corporate Income Tax (CIT) Form: This form is used by corporations operating in Michigan to report their income. It shares the requirement for detailed income reporting found in the Delaware 1902 B.
• Massachusetts Form 355: This is the Massachusetts Corporate Excise Tax Return. Like the 1902 B, it involves reporting corporate income and determining tax obligations based on state regulations.

Each of these documents serves to ensure that corporations provide necessary information regarding their financial activities, helping state or federal authorities assess tax liabilities accurately.

Delaware 1902 B - Usage Steps

After completing the Delaware 1902 B form, it is essential to ensure that all information is accurate and complete before submitting it. This form must be filed with the Division of Revenue by the specified deadline to maintain compliance with Delaware tax regulations.

1. Begin by entering the name of the corporation at the top of the form.
2. Provide the corporation's Delaware address and zip code.
3. If the mailing address is different, fill in the mailing address and its zip code.
4. Indicate the date and state of incorporation.
5. Enter the Employer Identification Number (EIN) of the corporation.

Next, proceed to Part I, which requires general information.

6. List the names and social security numbers of compensated employees working in Delaware, excluding directors. Indicate if each employee is full-time or part-time.
7. Provide the names and Federal Employer Identification Numbers (FEIN) or Social Security Numbers (SSN) of individuals or corporations owning more than 10% of the stock, particularly if their tax liability exceeded $100,000 in the past three years.

Continue to Part II, which addresses questions related to non-exempt activities.

8. Answer whether the corporation received rental income from real property or tangible personal property located within Delaware. Check the appropriate box.
9. Indicate if the corporation provided any listed services in Delaware for unaffiliated or affiliated entities. Check the boxes for applicable services.

Next, move to Part III, which focuses on exempt activities.

10. Check the boxes for any sources of income the corporation received directly or indirectly. Provide a description for any income exceeding $1 million.
11. State if the corporation is engaged in business activities outside of Delaware. If yes, provide a brief description.

Finally, complete Part IV, which asks for additional information.

12. Declare if the corporation had any other sources of income not covered in Parts II and III. Provide a description of the source and related activities in Delaware.
13. Sign and date the form, including the title of the officer or designee signing the return.
14. Detach the form and mail it to the Division of Revenue at the specified address.

The Delaware 1902 B form serves as an important tool for corporations claiming exemption from Delaware corporate income tax. When filing this form, there are several other documents that are commonly used to ensure compliance with state regulations. Each of these documents plays a significant role in providing necessary information to the Delaware Division of Revenue. Below is a list of these forms and documents, along with a brief description of each.

• Form 7004: This form is used to request an automatic extension of time to file federal income tax returns. If a corporation files this form with the IRS, it automatically extends the filing deadline for the Delaware 1902 B form by six months.
• Delaware Division of Revenue Approval Letter: When a corporation requests an extension of time for filing its Delaware return, it may receive an approval letter from the Division of Revenue. This letter must be attached to the 1902 B form when it is submitted.
• Federal Form 1120: This is the U.S. Corporation Income Tax Return that corporations file with the IRS. It provides a comprehensive overview of a corporation's income, deductions, and tax liability. The information from this form often informs the data reported on the Delaware 1902 B form.
• Schedule C: If additional space is needed to report compensated employees or owners of more than 10% of the stock, corporations may attach a Schedule C. This document details the necessary information that could not be included directly on the 1902 B form.
• Florida Board Nursing Application Form: This essential document for individuals seeking licensure as a nurse in Florida outlines specific eligibility criteria and necessary steps for licensure, including examination registration with Pearson VUE. Additional details can be found at floridaforms.net/blank-florida-board-nursing-application-form/.
• Form 990: Non-profit corporations may need to file this form, which is the Return of Organization Exempt from Income Tax. While it is not directly related to the 1902 B form, it is essential for non-profits to ensure compliance with both federal and state regulations.
• Annual Report: Many corporations are required to file an annual report with the Delaware Secretary of State. This report provides updated information about the corporation, including its business activities and financial status, which may be relevant to the 1902 B form.

In summary, the Delaware 1902 B form is part of a broader framework of documentation that corporations must navigate to maintain compliance with state tax laws. Each of the forms and documents listed above contributes to a comprehensive understanding of a corporation's financial activities, ensuring that the Delaware Division of Revenue has the necessary information to evaluate tax obligations accurately.

1. Missing Information: Failing to provide all required information, such as the name and social security number of compensated employees, can lead to delays or rejections.

2. Incorrect Dates: Entering the wrong year or fiscal year ending date can cause confusion and may result in penalties.

3. Neglecting to Check Boxes: Not marking "YES" or "NO" for income sources or services provided can lead to an incomplete form.

4. Omitting Descriptions: Failing to provide necessary descriptions for any "YES" answers can make it difficult for the tax authority to assess the corporation's tax status.

5. Incorrect Employer Identification Number: Providing an inaccurate or outdated Employer Identification Number can result in processing issues.

6. Ignoring Extensions: Not requesting an extension when needed can lead to late filing penalties.

7. Forgetting to Sign: Not signing the form can render it invalid, causing delays in processing.

8. Incorrect Mailing Address: Using an incorrect mailing address can result in the return not reaching the Division of Revenue.

9. Inadequate Documentation: Not attaching required schedules or documentation can lead to additional inquiries or rejection.

10. Misunderstanding Exemptions: Misinterpreting the criteria for exemption can lead to incorrect filings, which may have financial implications.

1. What is the purpose of the Delaware 1902 B form?

   The Delaware 1902 B form is an Information Return specifically designed for holding companies and investment companies. Corporations use this form to claim exemption from Delaware corporate income tax under Section 1902(b)(8) of the Delaware Code. This section provides an exemption for corporations whose activities in Delaware are limited to managing their intangible investments and collecting income from those investments or from tangible property located outside the state.

2. Who needs to file the Delaware 1902 B form?

   Any corporation that claims exemption from Delaware corporate income tax under the relevant section must file the Delaware 1902 B form. This includes corporations that have activities confined to managing intangible investments or collecting income from property located outside of Delaware. If a corporation has employees or receives specific types of income within Delaware, it may not qualify for the exemption and must file the form accordingly.

3. When is the Delaware 1902 B form due?

   The Delaware 1902 B form is due on or before the first day of the fourth month following the end of the corporation's taxable year. For corporations that file for federal tax purposes, the filing deadline aligns with the federal deadline. If additional time is needed, corporations can request an automatic six-month extension by applying to the Internal Revenue Service. This extension will also extend the Delaware filing deadline.

4. What information is required on the form?

   The form requires general information about the corporation, including its name, address, and Employer Identification Number. It also asks for details about compensated employees working in Delaware and owners holding more than 10% of the corporation's stock. Additionally, the form includes questions regarding income sources and activities performed within Delaware. Corporations must indicate whether they received income from certain activities and provide descriptions if necessary.