Income Tax Return Form - Village Of Loudonville - 2013 Page 2
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SECTION A
Attach appropriate schedules for Income from partnerships, business, estates, trusts, fees and other
Received From
For (Describe)
Federal Form(s) Attached
Amount
TOTAL BUSINESS INCOME (If Schedule X, Y, or Z is not applicable — Total to page 1 line 2A)
Enter Schedule Z Line 1 $__________
SECTION B
RENTAL INCOME FROM FEDERAL SCHEDULE E
Attach copy of Federal Schedules. Total to page 1, line 2B. Individuals cannot offset W-2 income by loss from business and/or rentals. Rental losses can-
not be carried over from prior years.
SECTION C
EMPLOYEE BUSINESS EXPENSE FEDERAL FORM 2106
NOTE: Loudonville recognizes this deduction only when the expense incurred applies to gross earnings that are in the jurisdiction of the Village.
Example of Loudonville Jurisdiction: If your Village income tax withheld was paid to the Village of Loudonville by your employer, or if the Village tax on your
earnings is due to be paid to the Village of Loudonville.
Attach copy of federal schedule.
SECTION D
INTEREST AND PENALTIES
NOTE: Interest is due at the rate of one percent (1%) per month or fraction thereof on the unpaid tax.
Penalty of 10% is imposed on the amount due or $25.00, whichever is greater.
Minimum penalty for failure to file by April 15th shall be $25.00.
SCHEDULE X. RECONCILIATION WITH FEDERAL INCOME TAX RETURN
ITEMS NOT DEDUCTIBLE
ADD
ITEMS NOT TAXABLE
DEDUCT
a.
Capital Losses (Excluding Ordinary Losses).................. $ _______________ n. Capital gains (Excluding Ordinary Gains) ...................$ _________________
b.
Expenses incurred in the production of non-taxable
_______________ o. Interest income (individuals only) ................................ _________________
income (at least 5% of Line Z) .......................................
_______________ p. Dividends..................................................................... _________________
c.
Taxes paid to state and local municipalities ...................
_______________ q. Other (explain)............................................................. _________________
d.
Net operating loss deduction per Federal Return ..........
_______________
.....................................................................................
e.
Payments to partners .....................................................
_______________
.....................................................................................
f.
Sick pay not included in Line 1 above............................
_______________
g.
Contributions...................................................................
_______________
h.
Other expenses not deductible (Explain) .......................
_______________
m. (Enter Schedule Z Line 2A) ............................................
_______________ z. Enter Schedule Z Line 2B ...........................................$ _________________
SCHEDULE Y
Business Allocation Formula
a. LOCATED
b. LOCATED IN
c. PERCENTAGE
USE ONLY IF NET PROFIT FROM LOUDONVILLE BRANCH IS NOT AVAILABLE
EVERYWHERE
LOUDONVILLE
(b ÷ a)
STEP 1. AVG. VALUE OF REAL & TANG. PERSONAL PROPERTY
________________
________________
GROSS ANNUAL RENTALS PAID MULTIPLIED BY 8
________________
________________
TOTAL STEP 1
________________
________________ _______________ %
STEP 2. GROSS RECEIPTS FROM SALES MADE AND/OR WORK
________________
________________ _______________ %
OR SERVICES PERFORMED (SEE INSTRUCTIONS)
________________
________________ _______________ %
STEP 3. WAGES, SALARIES AND OTHER COMPENSATION PAID EMPLOYEES
________________
________________ _______________ %
4. TOTAL PERCENTAGES
________________
________________
_______________ %
5. AVERAGE PERCENTAGE (Divide Total Percentages by Number of Percentages Used).
ENTER SCHEDULE
Z LINE 3B
______
________________%
SCHEDULE Z
1.
BUSINESS INCOME.................................................................................................................................................................................................$ ___________________
2.
A. ITEMS NOT DEDUCTIBLE (Schedule X, Line M) ......................................................................................................... Add $______________
B. ITEMS NOT TAXABLE (Schedule X, Line Z)............................................................................................................ Deduct $______________
C. ENTER EXCESS LINE 2A or 2B ..........................................................................................................................................................................$ ___________________
3.
A. ADJUST NET INCOME (Line 1 Plus/Minus Line 2C) IF SCHEDULE X IS USED .................................................................................................$ ___________________
B. AMOUNT ALLOCABLE TO LOUDONVILLE IS SCHEDULE Y STEP 5 IS USED ______________ % OF LINE 3A...............................................$ ___________________
4.
B. TAXABLE BUSINESS INCOME: LINE 3A or LINE 3B (Enter On Page 1 Line 2A).................................................................................................$ ___________________
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