Contents
Key takeaways
When filling out and using the North Dakota 58 form, keep the following key takeaways in mind:
- Complete All Required Information: Ensure that Columns 1 through 5 are filled out for every partner in the partnership. This includes the partner's name, address, Social Security Number or FEIN, type of entity, and ownership percentage.
- Nonresident Partners: If a partner is a nonresident individual, complete Column 6. Additionally, Columns 7 and 8 should be filled out only if applicable for that nonresident partner.
- Additional Pages: If there are more partners than available lines, attach additional pages to provide all necessary information.
- Accurate Reporting: Double-check the federal distributive share of income (loss) reported in Column 5 to ensure accuracy. This is crucial for proper tax calculations.
- Totals Matter: Calculate and enter the total for Column 5, Column 6, Column 7, and Column 8 accurately. These totals are essential for completing the form correctly.
- Follow Instructions: Refer to the instructions on page 7 of the form for detailed guidance on how to fill out each column, especially for nonresident partners.
- File Timely: Be aware of filing deadlines to avoid penalties. Ensure the completed form is submitted on time to the North Dakota Office of State Tax Commissioner.
Document Information
| Fact Name | Details |
|---|---|
| Form Title | North Dakota Office of State Tax Commissioner Form 58 |
| Year of Form | 2010 |
| Partnership Requirement | All partnerships must complete this schedule for every partner. |
| Nonresident Individual Information | Column 6 must be completed if the partner is a nonresident individual. |
| Additional Columns for Nonresidents | Columns 7 and 8 are specifically for nonresident individual partners. |
| Federal Distributive Share | Column 5 captures the federal distributive share of income or loss. |
| North Dakota Tax Rate | The North Dakota income tax withholding rate is 4.86% for partners. |
| Governing Law | This form is governed by North Dakota Century Code, Chapter 57-38. |
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Dos and Don'ts
When filling out the North Dakota 58 form, it's important to be precise and thorough. Here’s a list of things to keep in mind:
- Do ensure you enter the name and address of each partner accurately.
- Do complete Columns 1 through 5 for every partner listed.
- Do use the correct Social Security Number or FEIN for each partner.
- Do double-check the ownership percentage for accuracy.
- Don't forget to complete Columns 6 through 8 if any partner is a nonresident individual.
- Don't leave any required fields blank; missing information can delay processing.
Following these guidelines will help ensure that your form is filled out correctly and efficiently. Take your time and review your entries before submission.
Detailed Steps for Using North Dakota 58
Filling out the North Dakota Form 58 is a straightforward process. This form requires specific information about partnerships and their partners. Follow these steps carefully to ensure accurate completion.
- Begin by entering the name of the partnership at the top of the form.
- Provide the Federal Employer Identification Number (FEIN) for the partnership.
- Complete the Schedule KP by filling out Columns 1 through 5 for every partner in the partnership.
- If a partner is a nonresident individual, complete Column 6. For nonresident individual partners only, fill out Column 7 or Column 8 as applicable.
- In Column 1, list the name and address of each partner. If more space is needed, attach additional pages.
- In Column 2, input the Social Security Number or FEIN for each partner.
- In Column 3, indicate the type of entity for each partner.
- In Column 4, specify the ownership percentage for each partner.
- In Column 5, enter the federal distributive share of income or loss for each partner.
- For nonresident individual partners, complete Column 6 with the North Dakota distributive share of income.
- In Column 7, input the North Dakota income tax withheld (4.86%) for each nonresident individual partner.
- In Column 8, enter the North Dakota composite income tax withheld (4.86%) for each nonresident individual partner.
- Calculate and enter the totals for Columns 5, 6, 7, and 8 at the bottom of the form as indicated.
- Finally, ensure that all information is accurate and complete before submitting the form.