Form Ri-1041 - Rhode Island Fiduciary Income Tax Return - 2010 Page 4
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4RI-1041
2010
Name of Estate or Trust shown on Form RI-1041
Federal Identification Number
RI SCHEDULE FT
ALTERNATIVE FLAT TAX METHOD
1.
Modified Federal income from RI-1041, page 1, line 5 less Income Distribution Deduction from Federal Form 1041, line 18..
1.
2.
RI Alternative Flat Tax rate...........................................................................................................................................................
2.
6.0%
3.
Flat Tax before allocation - Multiply line 1 by line 2.....................................................................................................................
3.
4.
RI allocation from RI-1041, page 1, line 14..................................................................................................................................
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.
ALTERNATIVE MINIMUM TAX SCHEDULE
1.
1.
Federal Alternative Minimum Taxable Income from Federal Form 1041, Schedule I, line 29.........................................................
2.
2.
Exemption - If line 1 is LESS than $87,800; enter $26,300. Otherwise, complete the Exemption Worksheet below ................
3.
Subtract line 2 from line 1................................................................................................................................................................
3.
4.
If line 3 is less than $175,000, multiply line 3 by 6.5% (.0650). Otherwise, multiply line 3 by 7% (.0700) and subtract $875
4.
from the result..................................................................................................................................................................................
5.
RI tax from RI-1041, page 1, line 8A.................................................................................................................................................
5.
6.
6.
RI Alternative Minimum Tax - subtract line 5 from line 4
(If zero or less, enter
zero). Enter here and on RI-1041, page 1, line 9.
EXEMPTION WORKSHEET for RI-1041, ALTERNATIVE MINIMUM TAX SCHEDULE, line 2
NOTE: If RI-1041, Alternative Minimum Tax Schedule, line 1 is equal to or more than $193,000, the exemption is zero. DO NOT complete
this worksheet. Instead, enter the amount from RI-1041, Alternative Minimum Tax Schedule, line 1 on RI-1041, Alternative Minimum Tax
Schedule, line 3 and go to RI-1041, Alternative Minimum Tax Schedule, line 4.
$26,300
1.
Exemption amount.................................................................................................................................................................
1.
2.
Alternative minimum taxable income from RI-1041, AMT Schedule page 6, line 1.........
2.
$87,800
3.
Phase out of exemption amount.......................................................................................
3.
4.
Subtract line 3 from line 2
(If zero or less, enter
zero.)....................................................
4.
5.
Multiply line 4 by 25% (.25)....................................................................................................................................................
5.
EXEMPTION - subtract line 5 from line 1
(If zero or less, enter zero.)
6.
6.
lternative Minimum Tax Schedule,
enter here and on RI-1041, A
page 6, line 2 .........................................................
Page 6
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