Form Sc1120-Sf Draft - 'C' Corporation Income Tax Return (Single Factor Option) Page 3
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5DRAFT
SC1120-SF
Page 3
SCHEDULES E, F, G, AND H ARE TO BE COMPLETED BY MULTI-STATE CORPORATIONS
SCHEDULE E
COMPUTATION FOR LICENSE FEE - MULTI-STATE CORPORATIONS
1. Total Capital and Paid-in-Surplus at end of Year. . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . $
2. SC PROPORTION: (line 1 X ratio from Schedule H-1, H-2 or H-3, as appropriate) Also enter on line 20, Part II . . . $
SCHEDULE E-1
COMPUTATION FOR LICENSE FEE - MULTI-STATE CORPORATIONS QUAIFYING FOR SINGLE FACTOR APPORTIONMENT
1.
1. Total Capital and Paid-in-Surplus at the end of the year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
2. Enter the ratio from Sch H-1, Line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
3. Multiply Line 1 by Line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
4. Enter the ratio from Sch H-1, Line 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.
5. Multiply Line 1 by Line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
6. Line 3 minus Line 5 (if the result is negative enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7. For taxable years beginning in 2007, multiply the amount on Line 6 by 20% (.20). This is the amount
7.
of reduction of license fee basis allowed this year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
8. Line 3 minus Line 7. Enter here and on Part 2 of SC1120, page 1, Line 20. . . . . . .
SCHEDULE F
INCOME SUBJECT TO DIRECT ALLOCATION
Net Amounts
Net Amounts
Payrolls to
Property
Less:
Allocated Direct.
Allocated
be Excluded
to be Excluded
Gross
Related
to SC and
Directly to
from Payroll
from Property
Amounts
Expenses
Other States
SC
Factor
Factor
1
2
3
4
5
6
1. Interest not connected with business
2. Dividends received
3. Rents
4. Gains/losses on real property
5. Gains/losses on intangible pers. prop.
6. Investment income directly allocated
7. TOTAL INCOME DIRECTLY ALLOCATED
8. INCOME DIRECTLY ALLOCATED TO SC
9. TOTALS TO APPORTIONMENT FACTORS
SCHEDULE G
COMPUTATION OF TAXABLE INCOME FOR CORPORATIONS CLAIMING MULTI-STATE OPERATIONS
1. Total net income as reconciled. Enter amount from line 3, Page 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.
2. Less: Income subject to direct allocation to SC and other states from Schedule F, line 7. . . . . . . . . . . . . . . .
2.
3. Total net income subject to apportionment (line 1 less line 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
4. Multiply amount on line 3 by appropriate ratio from Schedule H-1, 2, or 3 and enter result here . . . . . . . . . .
4.
5. Add: Income subject to direct allocation to SC from Schedule F, line 8 or H-4. . . . . . . . . . . . . . . . . . . . . . . .
5.
6. Total S.C. Net Income (sum of lines 4 and 5 above) also enter on line 4, Part 1 of Page 1 . . . . . . . . . . . . . .
6.
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