Form L-1065 - Partnership Income Tax Return Page 2
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1
2SCHEDULE A - ALLOCABLE PARTNERSHIP INCOME
1.
ORDINARY INCOME (OR LOSS) FROM PAGE 1, LINE 22, U.S. PARTNERSHIP RETURN OF INCOME, FORM 1065
$
2.
ADD PARTNERS' SALARIES AND INTEREST DEDUCTED IN DETERMINING INCOME ON FEDERAL FORM 1065
$
3.
ADD CITY OF LAPEER INCOME TAX, IF DEDUCTED IN DETERMINING INCOME ON FEDERAL FORM 1065
$
4.
TOTAL (ADD LINES 1,2, AND 3)
$
5.
LESS NON-BUSINESS INCOME INCLUDED IN LINE 1 ABOVE (FROM SCHEDULE B, COLUMN 1, LINE 9 BELOW)
$
6.
TOTAL INCOME SUBJECT TO ALLOCATION - TO SCHEDULE C BELOW
$
SCHEDULE B - NON-BUSINESS INCOME AND EXCLUSIONS
COLUMN 1
COLUMN 2
COLUMN 3
COLUMN 4
COLUMN 5
RESIDENT
RESIDENT
NON-RESIDENT
NON-RESIDENT
FEDERAL FORM
TOTAL NON-
PARTNERS' SHARE
PARTNER'S
PARTNERS' SHARE
PARTNER'S
1065 REFERENCE
BUSINESS INCOME
OF COL.1
EXCLUSIONS
OF COL.1
EXCLUSIONS
7.
$
$
$
$
$
INCOME FROM OTHER PARTNERSHIPS, TRUSTS. ETC
PAGE 1, LINE 4
8.
OTHER-ATTACH STATEMENT DETAILING
9.
NON-ALLOCABLE INCOME (ADD LINE S7 AND 8)
TO SCH A, LINE 5
10.
RENTAL ACTIVITIES
SCH K, LINES 2 & 3c
11.
INTEREST INCOME
SCH K, LINE 4a
12.
DIVIDEND INCOME
SCH K, LINE 4b
13.
ROYALTY INCOME
SCH K, LINE 4c
14.
NET SHORT TERM CAPITAL GAIN(LOSS)
SCH K, LINE 4d
15.
NET LONG TERM CAPITAL GAIN(LOSS)
SCH K, LINE 4e
16.
NET SECTION 1231 GAIN(LOSS)
SCH K, LINE 6
17.
OTHER GAIN(LOSS)-ATTACH STATEMENT DETAILING
SCH K, LINE 7
18.
$
$
$
$
$
TOTALS (ADD LINES 9 THROUGH 17)
NOTE 2
ALL PARTNERS EXCLUDE INTEREST FROM GOVERNMENTAL OBLIGATIONS AND INCOME, GAINS AND LOSSES PRIOR TO JANUARY 1, 1967. IN ADDITION, NONRESIDENT PARTNERS
EXCLUDE ALL OTHER DIVIDENDS, INTEREST AND NON-TAXABLE INCOME FROM ACTIVITIES OUTSIDE THE CITY OF LAPEER.
SCHEDULE C - DISTRIBUTION TO PARTNERS
COLUMN 1
COLUMN 2
COLUMN 3
COLUMN 4
COLUMN 5
COLUMN 6
COLUMN 7
ALLOCATION
NON-BUSINESS
PERCENTAGE APPLY ONLY
TAXABLE INCOME
TO NON-RESIDENTS
ALLOCATED
MEMO ALLOCATION
NON-BUSINESS TAXABLE
NON-RESIDENTS
ADJUSTED PARTNERSHIP
ALLOCABLE INCOME
(ENTER 100% FOR
INCOME (COL.1 X
EXCLUSION (COL. 1 LESS
INCOME RESIDENTS (SCH
(SCH B, COL. 4 LESS
INCOME (ADD COLS. 3, 5
(SCHEDULE A, LINE 6)
RESIDENTS)
COL. 2)
COL.3) (TO SCH H, M-1040)
B. COL.2 LESS COL.3)
COL. 5)
AND 6)
PARTNER
a.
%
b.
%
c.
%
d.
%
e.
%
TOTALS
SCHEDULE D - BUSINESS ALLOCATION FORMULA
COLUMN 1
COLUMN 2
COLUMN 3
LOCATED EVERYWHERE
LOCATED IN LAPEER
PERCENTAGE
19
a.
AVERAGE NET BOOK VALUE OF REAL AND TANGIBLE PERSONAL PROPERTY
(Column 2 divided
b.
by column 1)
GROSS ANNUAL RENT PAID FOR REAL PROPERTY ONLY MULTIPLIED BY 8
c.
TOTALS (ADD LINES a. and b.)
20.
TOTAL WAGES, SALARIES, COMMISSIONS AND OTHER COMPENSATION OF ALL EMPLOYEES
21.
GROSS RECEIPTS FROM SALES MADE OR SERVICES RENDERED
22.
TOTAL PERCENTAGES-ADD THE PERCENTAGES COMPUTED IN COLUMN 3, LINES 19c, 20 AND 21 (A PERCENTAGE MUST BE COMPUTED FOR EACH LINE)
23.
BUSINESS ALLOCATION PERCENTAGE (DIVIDE LINE 22 BY THE NUMBER OF FACTORS) ENTER HERE AND ON PAGE 2, SCH C, COL 2 (SEE NOTE BELOW)
IN DETERMINING THE BUSINESS ALLOCATION PERCENTAGE (LINE 23), A FACTOR SHALL BE EXCLUDED FROM THE COMPUTATION ONLY WHEN SUCH FACTOR DOES NOT EXIST
NOTE 3
ANYWHERE INSOFAR AS THE TAXPAYER'S BUSINESS OPERATION IS CONCERNED, IN SUCH CASES, THE SUM OF THE REMAINING PERCENTAGES SHALL BE DIVIDED BY THE
NUMBER OF FACTORS ACTUALLY USED.
IN THE CASE OF A TAXPAYER AUTHORIZED BY THE INCOME TAX ADMINISTRATOR TO USE ONE OF THE SPECIAL FORMULAE, ATTACH AN EXPLANATION AND USE THE LINES PROVIDED BELOW:
a.
c.
NUMERATOR
PERCENTAGE (a. DIVIDED BY b.) ENTER HERE AND ON SCH C, COL. 4
b.
d.
DENOMINATOR
DATE OF ADMINISTRATOR'S APPROVAL LETTER
L-1065 PAGE 2
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