Schedule L Form - Partially Exempt Income
ADVERTISEMENT
1
2Schedule L
(SP, IC, ESC)
PARTIALLY EXEMPT INCOME
Rev.05.10
20
__
Taxable year beginning on _________, 20____ and ending on _________, 20____
Entity's Name
Case Number
Employer Identification Number
Type of Entity:
Special Partnership (SP)
Corporation of Individuals (CI)
Employees Owned Special Corporation (ESC)
Act No. 52 of 1983
Act No. 78 of 1993
Partially Exempt Income (Check one):
Act No. 47 of 1987
Act No. 225 of 1995
Part I
Net Income (or Loss)
00
1.
Net operating income (or loss) for the year (Part III, line 40) .................................................................
(1)
00
2.
Exempt amount
%
...............................................................................................................
(2)
3.
Net income (or loss) from partially exempt activities (Subtract line 2 from line 1. Enter here and on Part II,
00
line 6 of the return) ..................................................................................................................................
(3)
Part II
Gross Profit on Sales or Production and Other Income
1.
Net sales .......................................................................................................
00
(1)
Less: Cost of goods sold or direct costs of production
2.
Inventory at the beginning of the year
"C"
"C" or "MV"
00
(a)
Materials ....................................................................
(2a)
00
(b)
Goods in process ........................................................
(2b)
00
(c)
Finished goods or merchandise ....................................
(2c)
00
3.
Purchase of materials or merchandise ...............................
(3)
4.
00
Direct wages ....................................................................
(4)
00
5.
Other direct costs (Detail in Part IV) ...................................
(5)
6.
00
Total cost of goods available for sale (Add lines 2 through 5) .
(6)
7.
Less: Inventory at end of year
"C"
"C" or "MV"
(a)
Materials .......................................
(7a)
00
(b)
Goods in process ...........................
(7b)
00
(c)
Finished goods or merchandise .......
00
(7c)
00
00
8.
Gross profit on sales or production ....................................................................................................
(8)
00
9.
Capital assets gain (or loss) (Schedule D Corporation and Partnership) ................................................
(9)
00
10.
Gain (or loss) from the sale of property other than capital assets (Schedule D Corporation and Partnership) .
(10)
00
11.
Interest ..........................................................................................................................................
(11)
00
12.
Other income (Submit detail) ...........................................................................................................
(12)
00
Total gross income (Add lines 8 through 12) ...................................................................................
13.
(13)
00
Retention Period: Ten (10) years
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial