Instructions for Form I-237 Schedule ESBT Computation of Wisconsin Taxable Income for Electing Small Business Trusts - Wisconsin

This document contains official instructions for Form I-237 Schedule ESBT, Computation of Wisconsin Taxable Income for Electing Small Business Trusts - a form released and collected by the Wisconsin Department of Revenue.

FAQ

Q: What is Form I-237?A: Form I-237 is a schedule used for computing Wisconsin taxable income for Electing Small Business Trusts (ESBTs) in Wisconsin.

Q: What is an Electing Small Business Trust (ESBT)?A: An Electing Small Business Trust (ESBT) is a type of trust that holds interests in an S corporation and elects to be treated as a separate taxpayer.

Q: What is Wisconsin taxable income?A: Wisconsin taxable income is the portion of a trust's income that is subject to Wisconsin state income tax.

Q: Who needs to file Form I-237?A: ESBTs in Wisconsin need to file Form I-237 to compute their Wisconsin taxable income.

Q: What information is required to fill out Form I-237?A: To fill out Form I-237, you will need information about the ESBT's income, deductions, and credits.

Q: Is there a deadline for filing Form I-237?A: Yes, the deadline for filing Form I-237 is the same as the deadline for filing the trust's federal income tax return.

Q: What should I do with Form I-237 after filling it out?A: After filling out Form I-237, you should keep a copy for your records and submit it with the trust's Wisconsin income tax return.