Form P 1041 - Income Tax Fiduciary Return

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P 1041
20_____
CITY OF PORTLAND INCOME TAX
FIDUCIARY RETURN
Other taxable period beginning …………………………, 20……. Ending ………………………., 20……….
PLEASE
EMPLOYER
NAME OF ESTATE OR TRUST
PRINT
IDENTIFICATION NUMBER
OF ESTATE OR TRUST
OR
TYPE
NAME, ADDRESS AND TITLE OF FIDUCIARY
FOR AUDIT USE
INCOME
Net profit (or loss) from business located in Portland:
$
1. Total net profits (of loss) from business in Portland:
2. Add City of Portland income tax deducted from income
3. Total allocable income (Add Lines 1 and 2)
4. Allocation percentage from Schedule A below
5. Allocated income (Multiply Line 3 by Line 4)
6. Net income (or loss) from rental property located in Portland
(Federal form 1041)
7. Net Income (or loss) from sale or exchange of property in Portland from January 1, 1980. (Federal Form 1041)
8. Other Portland income
9. Total Portland income (Add Lines 5,6,7 and 8)
10. Less amount of Portland income on line 9 applicable to beneficiaries who are residents of Portland per following computation:
Resident beneficiaries share of distributable net income
Amount on Line 9 less
received by the estate or trust
any portion of Line 9
Amount to enter
x
=
Total distributable net income received
not included in distributable
on Line 10
net income
11. Amount subject to tax (Line 9 less Line 10)
$
12. TAX (Line 11 multiplied by 1/2%)
MAKE CHECK PAYABLE TO TREASURER, CITY OF PORTLAND -
MAIL TO INCOME TAX DIVISION, CITY HALL, PORTLAND MI 48875
SCHEDULE A - BUSINESS ALLOCATION FORMULA
I
II
III
LOCATED
LOCATED IN
PERCENTAGE
PORTLAND
II / I
EVERYWHERE
1. Average net book value of real and tangible property
a. Gross rentals of real property, multiplied by 8
b. TOTAL (Add Lines 1 and 1a.)
%
2. Total wages, salaries and other compensation of all employees
%
3. Gross receipts from sales made or services rendered
%
4. Total percentages (Add percentages shown on Lines 1b, 2 and 3)
%
5. Average percentage (One-third of Line 4). Enter here and on Line 4, income section above
%
(See instructions when a factor does not exist in the taxpayer's operation)
In the case of a taxpayer authorized by the Administrator to use one of the special formulas, use lines provided below:
a. Numerator _______________________________________c. Percentage (a / b ) _____________________%. Enter here and on Line 6, income section above.
b. Denominator______________________________________d. Date of Administrator's approval letter_____________________________
I declare I have examined this return (including all schedules and accompanying statements) and to the best of my knowledge
and belief, it is true, correct and complete. If prepared by a person other than the taxpayer, his declaration is based on all
information of which he has any knowledge.
SIGN
(SIGNATURE OF FIDUCIARY OR OFFICER REPRESENTING FIDUCIARY)
(DATE)
HERE
(SIGNATURE OF PREPARER OTHER THAN FIDUCIARY)
(ADDRESS)
(DATE)

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