Form Sc 1120s - 'S' Corporation Income Tax Return 2007 Page 4
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5SC1120S
Page 4
SCHEDULE H-3
COMPUTATION OF RATIO FOR PUBLIC SERVICE CORPORATIONS
Amount
Ratio
1. Total Within South Carolina
2. Total for System
:
%
3. Ratio (South Carolina
Total System)
SCHEDULE H-4
COMPUTATION OF SINGLE FACTOR APPORTIONMENT
SINGLE FACTOR APPORTIONMENT RATIO SCHEDULE
Amount
Ratio
1. Total Sales Within South Carolina
2. Total Sales Everywhere
:
3. Ratio (South Carolina
Everywhere)
Note: If there are no sales anywhere, enter 100% on Line 3, if South Carolina is the principal
place of business OR enter 0% on Line 3 if principal place of business is outside SC.
COMPUTATION OF SC NET INCOME SUBJECT TO TAX FOR MULTI-STATE CORPORATION
PART I
QUALIFYING FOR SINGLE FACTOR APPORTIONMENT
1. Enter amount from Sch G, Line 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.
%
2. Enter Ratio from Sch H-1, Line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3. Multiply Line 2 by Line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
%
4. Enter Ratio from Line 3 of single factor apportionment schedule. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
5. Multiply Line 1 by Line 4. If Line 3 is less than Line 5, STOP HERE and enter amount from Line 3 on
Schedule G,Line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.
6. Line 3 minus Line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
7. For tax year 2007, multiply amount on Line 6 by 20% (.20). This is the amount of reduction in SC taxable
income allowed this year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
8. Line 3 minus Line 7. Enter this amount on Sch G, Line 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
PART II
COMPUTATION OF LICENSE FEE - MULTI-STATE CORPORATION QUALIFYING
FOR SINGLE FACTOR APPORTIONMENT
1. Total Capital and Paid-in-Surplus at the end of the year. If $10,000 or less, STOP HERE and enter on
Schedule E, Line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.
%
2. Enter the ratio from Sch H-1, Line 17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3. Multiply Line 1 by Line 2. If $10,000 or less, STOP HERE and enter on Schedule E, Line 2 . . . . . . . . . . . .
3.
%
4. Enter the ratio from Line 3 of single factor apportionment schedule. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
5. Multiply Line 1 by Line 4. If Line 3 is less than Line 5, STOP HERE and enter amount from Line 3 on
Schedule E Line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.
6. Line 3 minus Line 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
7. For tax year 2007, multiply the amount on Line 6 by 20% (.20). This is the amount of reduction of license
fee basis allowed this year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
8. Line 3 minus Line 7. Enter here and on Schedule E, Line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
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