City Of Brunswick Income Tax Return Form (Page 2 of 3) in pdf

PAGE 2

Business Name

__________________________________ Federal Identification No. ________________________________

Business Address__________________________________ Nature of Business______________________________________

RETURNS WILL NOT BE ACCEPTED WITHOUT COPIES OR FACSIMILES OF FEDERAL

SCHEDULES C, E AND F, FORMS 1120, 1120S and 1065 WHEN APPLICABLE

PART III.

SCHEDULE C

SCHEDULE C OR FORM 1120 PROFIT (OR LOSS) FROM BUSINESS OR PROFESSION

Net profit or loss per Federal Income Tax Return

1. $ ________________

Add items not deductible under Brunswick Tax Ordinance from Schedule X below.

Add

2. $_______________

Deduct items not taxable under Brunswick Tax Ordinance from Schedule X below.

Deduct 3. $_______________

Adjusted Net Profit (Line 1 plus Line 2 less Line 3)

4. $ ________________

Amount Allocable to Brunswick (per Business Allocation Formula, Schedule Y below) _____________% of Line 4

5. $ ________________

5a.

Less allocable Net Loss per previous Brunswick City Income Tax Returns (Submit Schedule)

5a. $ ________________

Amount Subject to Brunswick Income Tax (line 4 or 5 less Line 5a)

6. $ ________________

BRUNSWICK INCOME TAX (Multiply taxable Income by .0135 - 1.35% of Line 6)

7. $ ________________

If no credits are applicable, carry tax due from Line 7 to Line 9.

CREDITS: TO BE COMPLETED BY RESIDENT ENTITIES OF BRUNSWICK ONLY

Enter 3/4 of up to 1% of tax paid to another City. (Submit proof) 8. $_______________

TAX DUE BRUNSWICK from Schedule C (Line 7 less Line 8) Carry to Line 1, Part VIII

9. $ ________________

PART IV.

SCHEDULE X RECONCILIATION WITH FEDERAL INCOME TAX RETURN — BUSINESS FILERS ONLY

ITEMS NOT DEDUCTIBLE

ADD

ITEMS NOT TAXABLE

DEDUCT

a. Capital loss, From Fed. Schedule......................$ __________________

Capital Gain From Fed. Schedule......................$ __________________

b. Interest and/or other Expense incurred

Interest earned or accrued ................................$ __________________

in production on non-taxable income ................$ __________________

k. Dividends ..........................................................$ __________________

c. All income taxes, paid or accrued ....................$ __________________

Income from Patents or Copy Rights ................$ __________________

d. Net operating loss deduction per federal

m. Other income exempt from Brunswick Tax ........$ __________________

Form 1120 ........................................................$ __________________

Explain ....................................................................

e. Payment to partners (Fed. Form 1065) ............$ __________________

................................................................................

f. Non-Business contributions ..............................$ __________________

................................................................................

g. Other ..................................................................$ __________________

................................................................................

h. TOTAL ADDITIONS—Enter Line 2, Sch. C ......$ __________________

n. TOTAL DEDUCTIONS—Enter Line 3, Sch. C. ..$ __________________

PART V.

SCHEDULE Y BUSINESS ALLOCATION FORMULA —

A. Located

B. Located in

C. Percentage

Everywhere

Brunswick

(B ÷ A)

Step 1. Average value of real and tangible personal property ............

______________

X X X

Gross annual rentals multiplied by 8 ......................................

______________

X X X

Total Step 1..............................................................................

______________

______________%

Step 2. Gross receipts from sales made and work or services performed ______________

______________

______________%

Step 3. Total wages, salaries, commissions and other compensation

of all employees ......................................................................

______________

______________%

Step 4. Total percentages ....................................................................

______________

______________%

Step 5. Average percentage (Divide total percentages by number of percentages used—carry to Line 5 Schedule .............................. __________________%

SCHEDULE E INCOME FROM RENTS (If not included in Schedule C)

PART VI.

1. Kind & Location of Property

2. Amount of Rent

3. Depreciation

4. Other Expenses

5. Net Income (or Loss)

Total Tax Enter .0135 (1.35%) of Total Net Profits (If Loss, enter “0”)..................................................................................................6. $ ________________

CREDITS: TO BE COMPLETED BY RESIDENTS OF BRUNSWICK ONLY

Enter 3/4 of up to 1% of tax paid to another City (submit proof) ........................................................................................................7. $ ________________

Tax Due (Line 6 less Line 7). Carry to Line 1, Part VIII........................................................................................................................8. $ ________________

PART VII.

SCHEDULE H ALL OTHER TAXABLE INCOME:

Total from Fed. Sch. F, Form 4797, Partnerships, Estates, Trusts, Fees, Tips, Commissions, & Misc.

1. RECEIVED FROM

2. FOR (DESCRIBE)

3. AMOUNT

4. CITY TAX .0135

Total Tax — Total Col. 4 ........................................................................................................................................................................5. $ ________________

CREDITS: TO BE COMPLETED BY RESIDENTS OF BRUNSWICK ONLY

Enter 3/4 of up to 1% of tax paid to another City. (Submit proof) ........................................................................................................6. $ ________________

Tax Due (Line 5 less Line 6) Carry to Line 1, Part VIII ........................................................................................................................7. $ ________________

PART VIII. BRUNSWICK INCOME TAX LIABILITIES ON OTHER INCOMES FROM SCHEDULES C, E, AND H

TAX DUE: Enter totals of Line 9, Schedule C, Line 8, Schedule E, and Line 7, Schedule H (Carry to Line 2 Page 1)

$ ________________

***ATTACH APPLICABLE FEDERAL SCHEDULES***