Business Ashland City Income Tax Return Form - 2012 Page 2

ASHLAND CITY INCOME TAX RETURN

2012

SCHEDULE X - RECONCILIATION WITH FEDERAL INCOME TAX RETURN (continued)

ITEMS NOT TAXABLE

DEDUCT

(16D) Other expenses not deductible (Federally Deferred) ..………….

(16E) Total Lines (16A) through (16D) ...................................………

$

(16F) Capital gains (Excluding Ordinary Gains, see instructions)…….

$

(16G) Interest income ...................................................................

160H) Dividends ........................................................................….

160I) Other ............................……………………………….………....

(16J) Total Lines (16F) through (16I) .........................….............……

(16K) (Subtract line 16J from 16E) Carry forward to line 2

16 $

SCHEDULE Y - BUSINESS ALLOCATION FORMULA

c. PERCENTAGE

a. LOCATED

b. LOCATED IN

EVERYWHERE

MUNICIPALITY

(b ÷ a)

____________

____________

STEP 1A. AVG. VALUE OF REAL & TANG. PERSONAL PROPERTY

STEP 1B. GROSS ANNUAL RENTALS PAID MULTIPLIED BY 8.

____________

____________

TOTAL STEPS 1A & 1B

____________

____________

______________ %

a

b

STEP 2. GROSS RECEIPTS FROM SALES MADE AND/OR

____________

____________

______________ %

SERVICES PERFORMED

____________

____________

______________ %

STEP 3. WAGES, SALARIES, AND OTHER COMPENSATION PAID

STEP 4. TOTAL PERCENTAGES

______________ %

STEP 5. AVERAGE PERCENTAGE (Carry forward to line 4)

______________ %

(Divide Total Percentages by Number of Percentages Used)

STEP 6. Multiply your Federal Income (Loss)

from Line 20 above by the % on STEP 5 and enter on line 21 above.

---------------------------------------------------------------------------------- INSTRUCTIONS-----------------------------------------------------------------------------------------------------------------------------------

SEE TAX FACTS FOR GENERAL INFORMATION NEEDED TO FILE YOUR RETURN

LINE 9 - LATE FILING PENALTY -- If your return is filed after after April 18th

NAME AND ADDRESS - Please make any changes to address on form.

you are subject to a penalty of $25.00.

IDENTIFICATION NUNBER - Enter your federal identificaton number.

LINE 10 - INTEREST -- Interest will be assessed on any unpaid balance after April 30th.

LINE 1 - ALL INCOME / Federal Schedules E, F, 1065, K-1, 1120, 1120S

The interest rate is 1.5% per month on the remaining balance.

and 1041. This list may not be all inclusive.

LINE 11 – TOTAL TAX DUE BY APRIL 15th

COPIES OF ALL FEDERAL SCHEDULES MUST BE ATTACHED

Add Line 7, Line 9, and Line 10 and REMIT TO: Ashland City Income Tax Department.

LINE 2 - ADJUSTMENTS -- Combine the total of "not deductable" items and

INSTRUCTIONS FOR DECLARATION

not taxable items from Schedule X.

OF ESTIMATED TAX

LINE 3 - TAXABLE INCOME BEFORE SCHEDULE Y ALLOCATION

YOU MUST ESTIMATE IF YOU OWED MORE THAN

$100.00 in a previous year.

LINE 4 - ALLOCATION PERCENTAGE -- per schedule Y step 5

LINE 5- ASHLAND INCOME TAX -- Multiply line 3 by line 4 and enter that amount.

ENTER THE YEAR OF TAX DECLARATION

LINE 6 - ASHLAND INCOME TAX 1.5%OF LINE 5

LINE 12 – INCOME SUBJECT TO ASHLAND TAX

LINE 7 - CREDITS ALLOWABLE

(A) Enter the amount of estimated income that will

A. Enter the amount of Ashland City Income Tax withheld from cities other

be subject to Ashland Tax.

than Ashland. Credit must be computed on a W-2 by W-2 basis. Tax credit

(B) Multiply Line 12A by 1.5%. This will be the Estimated Tax.

cannot exceed 1% of gross earnings in other city(s).

LINE 13 – ESTIMATED CREDITS

B. Enter the amount of Estimated Declaration paid for the tax year.

C. If you had an overpayment on a prior year tax return that was not Refunded

(A) Enter Estimated amount of Ashland tax withheld.

enter the amount.

(B) Enter 1% of estimated amount of tax to be withheld for

D. Total lines 6(A) through 6(C). This is the total amount of available credit.

other cities.

(C) Total of Line (13A) and (13B).

LINE 7 - TAX DUE -- If line ( Ashland Income Tax) is less than line 7(D) (Total

(D) Total of estimated income tax (13C) subtracted from (12B).

Credits), enter the difference. This is the Amount ot Tax Due

LINE 14 – CALCULATION OF 1

QUARTER ESTIMATE

Amounts under $5.00 are not payable.

ST

(A) Multiply Line (13D) x .225

LINE 8 - OVERPAYMENT CLAIMED

(B) Less: Overpayment from Line (8B)

A. If line 5 (Ashland Income Tax) is less than line 6(E) (Total Credits), enter the

(C) First Quarter estimate due paid with return. Subtract (14B)

difference. This is the amount of overpayment.

from (14A)

B. Enter the portion of line 8 (B) that you would like applied to next years return.

LINE 15 – BALANCE OF TOTAL AMOUNT DUE APRIL 15TH

C. Enter the portion of line 8C that you would like refunded.

Amounts under $5.00 will not be refunded.