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16919: 2020.10.09 - Drake19 Updates


Drake19 Update Notes

2020.10.09 - Drake19 Updates

 

Connecticut Update 20

  • S Corporation and Partnership Packages:
    • Values for line 5b, "If late, enter interest...," on page 2 of Form CT-1065/CT-1120SI, Pass-Through Entity Tax Return, will now be calculated as expected.
  • Fiduciary Package:
    • Values for line 11, "Enter as a decimal the percentage of resident, noncontingent beneficiaries...," of Schedule CT-1041C, Taxable Income Calculation, will now be calculated as expected. 
  • Estate Package:
    • The watermark on Form CT-706/709, Estate and Gift Tax Return, has been removed, and the form is now eligible for e-file.

Louisiana Update 20

  • Corporation and S Corporation Packages:
    • The following updates have been made per the House Concurrent Resolution No. 66 of the 2020 Regular Legislative Session and Act 15 of the 2020 First Extraordinary Session:
      • Line 15, "Total Amount Due," of LA Form R-6906A, Corporation Franchise Tax Initial Return, will now be generated as "0" (zero) for all taxpayers with franchise taxable periods beginning 07/01/20 and ending 06/30/21.
      • Line 3, "Multiply the amount on Line 2 by $1.50 for each $1,000 or major fraction and enter the result," on Schedule L, "Calculation of Franchise Tax," of LA Form CIFT-620-2D, Corporation Income Tax Return/Corporation Franchise Tax Return, will now be generated as "0" (zero) for the first $300,000 if a taxpayer's taxable capital is $1,000,000 or less for a franchise taxable period beginning 07/01/20 and ending 06/30/21.

Maine Update 37

  • Individual, S Corporation, and Fiduciary Packages:
    • Returns with a refund greater than $20,000 can now be e-filed as intended so long as the refund is not set up to be a direct deposit; refunds in excess of $20,000 are paid by check only.
  • Fiduciary Package:
    • The maximum refund able to be directly deposited into a checking account has been updated to $20,000 in the ME filing instructions.   

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