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Example - Delaware 1902 B Form
FORM 1902(b) |
2011 |
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DELAWARE |
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INFORMATION RETURN |
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HOLDING COMPANY I INVESTMENT COMPANY |
FOR OFFICE USE ONLY |
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This return is for calendar year 2011 |
If not for calendar year, insert ending date of fiscal year |
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Name of Corporation |
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Rev Code 042
20
Delaware Address |
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Zip Code |
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Mailing Address (if different from above) |
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Zip Code |
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Date and State of Incorporation |
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Employer Identification Number |
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PART- I GENERAL INFORMATION
1.Name and social security number of compensated employees working in Delaware. (Do not include Directors.)
Name |
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Social Security Number |
Full or Part Time |
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2.Name and FEIN/SSN of owners (individual corporations) of more than 10% of the stock of the corporation whose Delaware individual or corporate income tax liability exceeded $100,000 in any of the past three years.
Name |
EI or SSN |
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PART II - QUESTIONS RELATING TO
If the answer to any of the following is “YES”, it would be an indication that the corporation is NOT exempt from Delaware corporate tax under Section 1902(b)(8), 30 DEL. C. (If yes, please provide a brief description.)
1. Did the corporation receive income from the following sources: |
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a. Rental income from real property located within Delaware. |
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YES |
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NO |
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b. Rental income from tangible personal property located within Delaware. |
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YES |
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NO |
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2.Did the corporation provide in Delaware any of the services listed below for an unaffiliated entity or an affiliated entity other than as part of the corporation’s maintenance and management of its intangible assets? (If yes, please provide a brief description.)
YES / NO
a.Accounting and Bookkeeping
b.Legal
c.Consultation
d.Investment Advice
YES / NO
e.Collections
f.Management
g.Computer Services
PART III - QUESTIONS RELATING TO EXEMPT ACTIVITIES
2011
If the answer to any of the following is “YES”, it would be an indication that the corporation is exempt from Delaware corporat e tax under Section 1902(b)(8), 30 DEL C. (If yes, please provide a brief description.)
1.Did the corporation directly or indirectly receive income from any one of the following sources?Please check the appropriate box for each source of income and, for each “yes” response where the income received isin excessof $1 million, provide a description of the activity performed in Delaware with regard to such income.
a. |
Interest on notes secured by real estate mortgages. |
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YES |
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NO |
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b. |
Interest on all other debt obligations. |
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YES |
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NO |
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c. |
Dividends. |
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YES |
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NO |
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d. |
Patents, patent applications, trademarks, trade names and |
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YES |
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NO |
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e. |
Gain on the sale of intangible investments. |
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YES |
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NO |
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f. Rental income from real property located outside of Delaware. |
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YES |
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NO |
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g. |
Rental income from tangible personal property located outside of Delaware. |
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YES |
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NO |
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2.Is the corporation engaged in business activities outside of Delaware other than described
in Question 1 above? (If yes, please describe.) |
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YES / NO |
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PART IV - ADDITIONAL INFORMATION |
YES / NO |
Did the corporation have any source of income other than the sources of income described in Parts II and III above? (If yes, please describe the source of income and the activity in Delaware relating to it.)
Under penalties of perjury, I declare that I have examined this return and statements, and believe it is true, correct and complete.
Signature |
Title |
Date |
(Revised 11/21/11)
INSTRUCTIONS FOR FORM 1902(B)
INFORMATION RETURN FOR HOLDING COMPANY/INVESTMENT COMPANY
GENERAL INSTRUCTIONS
CORPORATIONS REQUIRED TO FILE RETURNS
Under 30 Del. C., §1904(g), an Annual Information Return may be required of each corporation claiming exemption from Delaware corporate income tax under 30 Del. C., §1902(b)(8) which provides an exemption for “Corporations whose activities within this State are confined to the maintenance and management of their intangible investments and the collection and distribution of the income from such investments or from tangible property physically located outside this State. For purposes of this paragraph, ‘intangible investments’ shall include, without limitation, investments in stocks, bonds, notes, and other debt obligations (including debt obligations of affiliated corporations), patents, patent applications, trademarks, trade names and similar types of intangible assets.” Form 1902(b), Information Return for Holding Company/Investment Company, must be filed annually by corporations claiming exemption from corporate taxation under Section 1902(b)(8) of Title 30 of the Delaware Code.
PERIOD COVERED BY RETURN
The taxable year ending date of a corporation required to file Form 1902(b) Information Return shall be the same as it is for purposes of computing its federal income tax.
WHEN TO FILE AND EXTENSIONS
Form 1902(b) Information Return must be filed on or before the first day of the fourth month following the end of the taxable year. A request for an automatic extension of six months to the Internal Revenue Service will automatically extend the filing date of the Delaware return by six months. If no federal extension was requested, an extension of time for filing may be made by a letter on or before the due date. Copies of extensions granted (Federal Form 7004 or Delaware Division of Revenue Approval Letter) must be attached to the return when filed. Please detach and mail Form 1902(b), Information Return, to the Division of Revenue, 820 N. French Street, P.O. Box 2044, Wilmington, Delaware
PART 1 - GENERAL INFORMATION
LINE 1 - COMPENSATED DELAWARE EMPLOYEES
Enter on Line 1 the names and social security number(s) of individuals employed by the filing corporation within Delaware (do not include Directors). Please also indicate whether employed on a full or part time basis. If additional space is needed, please attach a separate schedule.
LINE 2 - PERSONS OWNING MORE THAN 10% OF THE STOCK OF THE CORPORATION
Enter on Line 2 the name and Federal Employer Identification Number or Social Security Number of owners (individual partnership or corporation) of more than 10% of the outstanding stock of the corporation whose Delaware individual or corporate income tax liability exceeded $100,000 in any of the past three years. If additional space is needed, please attach a separate schedule.
SPECIFIC INSTRUCTIONS
PART II - QUESTIONS RELATING TO
If the answer to any of the following questions is yes, it would be an indication that the corporation is NOT exempt from Delaware Corporate income tax under 30 Del. C. §1902(b)(8).
1.SOURCES OF INCOME. Did the corporation receive rental income from real property and/or tangible personal property located within Delaware? Please check appropriate box for each source of income and provide a description of the activities performed within Delaware for each “yes” box.
2.SERVICES PROVIDED. Did the corporation provide in Delaware any of the services listed for an unaffiliated entity or an affiliated entity other than as part of the corporation’s maintenance and management of its intangible assets? Please check appropriate box for each service and provide a description of the service performed within Delaware for each “yes” box.
PART III - QUESTIONS RELATING TO EXEMPT ACTIVITIES
If the answer to any of the following is “yes”, it would be an indication that the corporation is exempt from Delaware corporate income tax under §1902(b)(8), 30 Del. C.
1.SOURCES OF INCOME WITHIN DELAWARE. Did the corporation directly or indirectly receive income from anyone of the sources listed? Please check appropriate box for each source of income and, for each “yes” response where the income received is in excess of $1 million, provide a description of the activity performed in Delaware in the space provided.
2.SOURCES OF INCOME WITHOUT DELAWARE. Is the corporation engaged in business activities outside of Delaware other than those described in Question 1 above? If yes, please provide a brief description in the space provided.
PART IV - ADDITIONAL INFORMATION
Did the corporation have any sources of income other than the sources of income described in Parts II and III above? If yes, please describe the source of income and the activity in Delaware relating to it in the space provided.
SIGNATURE
Please sign and date this return indicating the title of the officer or designee signing this return, detach Form 1902(b) and mail to the Division of Revenue, 820 N. French Street, P.O. Box 2044, Wilmington, Delaware
(Revised 12/09/10)
Delaware 1902 B: Usage Guide
After gathering the necessary information, you are ready to complete the Delaware 1902 B form. This form requires specific details about your corporation, including employee information and income sources. Be sure to have all relevant documents on hand to ensure accuracy while filling it out.
- Obtain the form: Download the Delaware 1902 B form from the Delaware Division of Revenue website or request a physical copy.
- Fill in general information: Start by entering the name of the corporation, the date and state of incorporation, and the Employer Identification Number (EIN).
- Provide addresses: Input the Delaware address and mailing address (if different) along with the respective zip codes.
- List compensated employees: In Part I, write the names and Social Security numbers of compensated employees working in Delaware, indicating if they are full-time or part-time. Do not include directors.
- Identify stock owners: Enter the names and either the Federal Employer Identification Number (FEIN) or Social Security Numbers (SSN) of owners who hold more than 10% of the stock, especially if their tax liability exceeded $100,000 in the past three years.
- Answer non-exempt activity questions: In Part II, respond to the questions regarding income sources and services provided in Delaware. Mark “YES” or “NO” and provide descriptions where applicable.
- Answer exempt activity questions: In Part III, check the appropriate boxes for sources of income and provide descriptions for any income exceeding $1 million.
- Provide additional information: In Part IV, indicate if there are any other sources of income not previously described and provide details as needed.
- Sign and date the form: The authorized officer must sign and date the return, including their title.
- Mail the form: Detach the completed form and send it to the Division of Revenue at the specified address.
Documents used along the form
The Delaware 1902 B form is an important document for corporations claiming exemption from Delaware corporate income tax. When filing this form, there are several other documents that may also be required or beneficial for compliance and record-keeping. Below is a list of related forms and documents that are commonly used alongside the Delaware 1902 B form.
- Form 1120: This is the U.S. Corporation Income Tax Return. Corporations must file this form annually to report their income, gains, losses, deductions, and credits. It is essential for determining federal tax obligations.
- Form 7004: This form is used to apply for an automatic extension of time to file certain business tax returns, including Form 1120. Filing this form can provide additional time to prepare the return without incurring penalties.
- Delaware Annual Franchise Tax Report: All Delaware corporations must file this report to determine their franchise tax liability. This report is separate from the 1902 B form but is necessary for maintaining good standing in the state.
- Form W-2: Employers must issue this form to report wages paid to employees and the taxes withheld. It is crucial for employees to file their personal income tax returns accurately.
- Dog Bill of Sale Form: For those involved in canine transactions, the detailed Dog Bill of Sale form guide is critical for ensuring all legal requirements are met.
- Form 1099: This form is used to report various types of income other than wages, salaries, and tips. It is important for documenting payments made to independent contractors or other non-employees.
- Corporate Bylaws: While not a tax form, corporate bylaws outline the rules and procedures for managing the corporation. They are essential for governance and compliance with state laws.
By understanding and preparing these additional forms and documents, corporations can ensure compliance with both state and federal regulations. This proactive approach can help prevent potential issues and streamline the filing process.
Key takeaways
The Delaware 1902 B form is an essential document for corporations claiming exemption from corporate income tax in Delaware. Below are key takeaways regarding its completion and usage.
- The form must be filled out annually by corporations that meet the criteria for exemption under Section 1902(b)(8) of the Delaware Code.
- It is crucial to provide accurate information about compensated employees working in Delaware, excluding directors, as this can impact tax liability.
- Corporations should be aware that receiving certain types of income, such as rental income from properties located within Delaware, may disqualify them from claiming tax exemption.
- Filing deadlines are strict; the form is due on or before the first day of the fourth month following the end of the taxable year. Extensions can be requested if necessary.
- It is important to sign the form, indicating the title of the officer or designee, and to mail it to the appropriate address to ensure compliance with state regulations.
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File Details
| Fact Name | Fact Description |
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| Purpose | The Delaware 1902 B form is an annual information return required for holding and investment companies claiming exemption from corporate income tax. |
| Governing Law | This form is governed by Section 1902(b)(8) of Title 30 of the Delaware Code. |
| Filing Deadline | Form 1902 B must be filed by the first day of the fourth month following the end of the corporation's taxable year. |
| Employee Information | The form requires the names and social security numbers of compensated employees working in Delaware, excluding directors. |