Montana Form Clt-4 - Corporation License Tax Return - 2008 Page 3
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3Form CLT-4, Page 3
Period End Date ____________________________________ FEIN________________________
Computation of Montana Taxable Income and Net Amount Due
1. Taxable income reported on your federal return (line 28) (attach a copy of signed federal Form 1120) .............. 1.
2. Additions:
2a. State, local, foreign and franchise taxes based on income (attach breakdown of your Form
1120, line 17) ......................................................................................................................2a.
2b. Federal tax exempt interest ................................................................................................2b.
2c. Contributions used to compute qualifi ed endowment credit ............................................... 2c.
2d. Income/loss of foreign parent and foreign subsidiaries for worldwide combined fi lers .......2d.
2e. Income/loss of unitary corporations not included in federal consolidated return ................2e.
2f. Extraterritorial income exclusion..........................................................................................2f.
2g. Deemed dividends - Water’s Edge fi lers only. (attach Schedule WE) ................................2g.
2h. Income/loss of corporations incorporated in tax havens—Water’s Edge fi lers only ...........2h.
2i. Federal capital loss carry-over utilized on federal return ..................................................... 2i.
2j. All of your other additions (attach a detailed breakdown).................................................... 2j.
Add lines 2a through 2j and enter the result. This is the total of your additions .............................................. 2.
3. Reductions:
3a. IRC Section 243 dividend received deduction ....................................................................3a.
3b. Nonbusiness income (attach a detailed breakdown) ..........................................................3b.
3c. Montana recycling deduction (attach Form RCYL)............................................................. 3c.
3d. Income/loss of nonunitary corporations included in federal consolidated return ................3d.
3e. Income/loss of 80/20 companies—Water’s Edge fi lers only ...............................................3e.
3f. Capital loss incurred in current year (attach federal Schedule D) .......................................3f.
3g. All of your other reductions (attach a detailed breakdown) ................................................3g.
Add lines 3a through 3g and enter the result. This is the total of your reductions........................................... 3.
4. Add lines 1 and 2, then subtract line 3 and enter the result. This is your adjusted taxable income ............... 4.
5. Income apportioned to Montana (multiply line 4 X______% from Schedule K, line 5) and enter the result ......... 5.
Combined fi lers must use the Schedule K-Combined included on page 7 of Form CLT-4.
6. Enter the income that you allocated directly to Montana (attach a detailed breakdown) ..................................... 6.
7. Montana taxable income before net operating loss (add lines 5 and 6 or enter amount reported on line 4) ....... 7.
If line 7 is a loss, do you wish to forego the net operating loss carry-back provision?
Yes
No
Note: If you have reported a loss on line 7 and have not checked either box, the loss has to be carried back fi rst.
8. Enter your Montana net operating loss carried over to this period (attach a detailed schedule) .......................... 8.
9. Subtract line 8 from line 7 and enter the result here. This is your Montana taxable income............................ 9.
10. Multiply line 9 by 6.75% (or line 9 by 7% if you have a valid Water’s Edge election). This is your Montana tax
liability ............................................................................................................................................................... 10.
Note: This amount cannot be less than the minimum tax liability of $50.
Check this box if you are calculating your tax liability using the Alternative Tax method.
11. Payments:
11a. 2007 overpayment ............................................................................................................ 11a.
11b. Tentative payment ............................................................................................................ 11b.
11c. Quarterly estimated tax payments .................................................................................... 11c.
11d. Montana mineral royalty tax withheld (attach Form(s) 1099)
................................ 11d.
NEW
11e. All other payments. Describe _______________________________ ............................ 11e.
11f. Previously issued refunds. Describe _______________________________ .................. 11f. (
)
Add lines 11a through 11f and enter the result. This is the total of your payments ........................................ 11.
12. Enter total credits (from Schedule C) ................................................................................................................. 12.
13. Add lines 11 and 12, then subtract from line 10 and enter result. This is your tax due or <overpayment> ... 13.
14. Enter the amount of overpayment that you want to be applied to your 2009 estimated tax ............................... 14.
15. Add lines 13 and 14; enter the result. This is your net tax due or <overpayment> ....................................... 15.
16. Enter interest on all the tax paid after the due date, calculated at 12% per year, on a daily basis .................... 16.
17. Enter estimated tax underpayment interest (attach Form CLT-4-UT) ................................................................. 17.
Check this box if you are using the annualized income or adjusted seasonal income method.
18. Penalty:
18a. Enter your late fi ling penalty (see instructions) .................................................................18a.
18b. Enter your late payment penalty (see instructions) ..........................................................18b.
Add lines 18a and 18b; enter the result. This is your total penalty ................................................................. 18.
19. Add lines 15 through 18; enter the result on line 19a or 19b below.
19a. If the result is positive, enter the amount due here. This is your total amount due ...................................... 19a.
Attach your remittance payable to Montana Department of Revenue or visit our website at mt.gov/revenue for electronic payment options.
19b. If the result is negative, enter the refund due here. This is your total refund ................................................ 19b. (
)
If you wish to use direct deposit for your refund, enter your bank routing and account numbers below.
Checking
RTN#
ACCT#
Savings
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