Form Ri-1041 - Rhode Island Fiduciary Income Tax Return - 2006 Page 5
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5RI-1041
2006
RI SCHEDULE FT
ALTERNATIVE FLAT TAX METHOD
Name of Estate or Trust
Federal Identification Number
1.
Modified Federal income from RI-1041, page 1, line 5.........................................................................................................
1.
2.
RI Alternative Flat Tax rate..................................................................................................................................................
2.
8%
3.
Flat Tax before allocation - Multiply line 1 by line 2...............................................................................................................
3.
4.
RI allocation from RI-1041, page 2, line 39...........................................................................................................................
4.
___ . ___ ___ ___ ___
5.
Flat Tax after allocation - Multiply line 3 by line 4..................................................................................................................
5.
Resident Estates and Trusts only. If you are claiming a credit for taxes paid to other state complete lines 6 thru 9. otherwise, enter
the amount from line 5 on line 11.
NOTE: you must attach a signed copy of the other state return.
6.
Income from other state...................................................................................................
6.
7.
Divide line 6 by line 1......................................................................................................
7.
___ . ___ ___ ___ ___
8.
Tentative credit - Multiply line 5 by line 7........................................................................
8.
9.
9.
Tax due and paid to other state........ Insert name of state paid ________________ ...
10.
MAXIMUM credit - Line 5, 8 or 9 (whichever is the SMALLEST)........................................................................................
10.
11.
RI Flat Tax after other state credit - subtract line 10 from line 5. Enter here and on RI-1041, page 1, line 19B..................
11.
EXEMPTION WORKSHEET for RI-1041, ALTERNATIVE MINIMUM TAX, part 1, line 2
NOTE: If RI-1041, Alternative Minimum Tax Schedule, part 1, line 1 is equal to or more than $173,900 the exemption is zero. DO NOT
complete this worksheet; instead, enter the amount from RI-1041, line 1 on RI-1041, line 3 and go to RI-1041, line 4.
Exemption amount...............................................................................................................................................................
1.
1.
$23,700
2.
2.
Alternative minimum taxable income from RI-1041, AMT Schedule page 4, line 1.......
3.
3.
Phase out of exemption amount.....................................................................................
$79,100
4.
4.
Subtract line 3 from line 2
(if zero or less, enter
zero)...................................................
5.
5.
Multiply line 4 by 25% (.25)..................................................................................................................................................
EXEMPTION - subtract line 5 from line 1
(if zero or less, enter zero)
6.
6.
enter here and on RI-1041, AMT Schedule, page 4, line 2..................................................................................................
Page 5
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