Form 480.20(Cpt) - Employees Owned Special Corporation Informative Tax Return
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4Form 480.20(CPT) Rev. 03.99
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Reviewer:
Liquidator:
Serial Number
COMMONWEALTH OF PUERTO RICO
DEPARTMENT OF THE TREASURY
Field audited by:
Year
Year
EMPLOYEES OWNED SPECIAL CORPORATION
Date ___/ ___/ ___
INFORMATIVE TAX RETURN
AMENDED RETURN
R
M
N
TAXABLE YEAR BEGINNING ON
Receipt Stamp
_________________, ___ AND ENDING ON ______________, ______
Employer's Identification Number
Entity's Name
Industrial Code
Municipal Code
Postal Address
Telephone Number - Extension
Zip Code
Date Incorporated
Location of Principal Industry or Business - Number, Street, Town
Month_____ Day_____ Year _____
Place Incorporated
Type of Principal Industry or Business
Total Forms 480.6 CPT
Date of election to operate as Employees Owned Special Corporation
Computation of the Net Operating Income
Amount
00
1.
Net operating income (or loss) before adjustments (Part VI, line 41)......................................................................
(1)
2.
Allowable deduction to manufacturing businesses that do not have an exemption under any Industrial or Tax
00
Incentives Act ......................................................................................................................................
(2)
3.
Deduction for the creation of new jobs (Submit Schedule ET):
a) Enter 15% of payroll or total income advances attributable to the
00
creation of 3 to 5 jobs ..............................................................................................
(3a)
b) Enter 20% of payroll or total income advances attributable to the
02
00
creation of 6 to 10 jobs ...........................................................................................
(3b)
c) Enter 25% of payroll or total income advances attributable to the
00
creation of 11 or more jobs .....................................................................................
(3c)
00
d) Enter the applicable deduction .............................................................................
(3d)
00
4.
Total operating income (or loss) (Subtract lines 2 and 3(d) from line 1)...............................................................
(4)
Distributable Share per Category
00
1.
Net long term capital gain (or loss) on sale or exchange of capital assets (Schedule D Corporation) ....
(1)
00
2.
Net short term capital gain (or loss) on sale or exchange of capital assets (Schedule D Corporation) ....
(2)
3.
Net gain (or loss) on sale or exchange of substantially all assets dedicated to an activity under Act No. 78
00
of 1993 (Schedule D Corporation).......................................................................................................................
(3)
00
4.
Net gain (or loss) on sale or exchange of property used in the business (Schedule D Corporation)....
(4)
00
5.
Net operating income (or loss) of the corporation (Part I, line 4)......................................................
(5)
00
6.
Net income (or loss) from partially exempt income (Schedule L, Part I, line 3).................................
(6)
00
7.
Eligible distribution of dividends from corporations or profits from partnerships (See instructions).......
(7)
00
8.
Charitable contributions....................................................................................................................................
(8)
00
9.
Total (Add lines 1 through 8)..................................................................................................................................
(9)
Credits
1.
Credit for taxes paid to the United States, its possessions and foreign countries
00
(Schedule C Corporation)......................................................................................................................................
(1)
2.
Credit for investment in the Capital Investment Fund, Tourism and other funds or direct investment
00
(Schedule Q).........................................................................................................................................................
(2)
00
3.
Credit attributable to losses in the Capital Investment Fund or other funds (Schedule Q)............................................
(3)
00
4.
Credit for tax withheld at source from Industrial Development dividends (Act No. 8 of 1987)....................................
(4)
00
5.
Credit for contribution to the Educational Foundation for Free Selection of Schools................................................
(5)
00
6.
Credit for the purchase of tax credits (Submit detail)............................................................................................
(6)
00
7.
Total tax credits (Add lines 1 through 6)..............................................................................................................
(7)
Withholdings
00
1.
Tax withheld at source on eligible distributions of profits or dividends..........................................................
(1)
00
2.
Tax withheld at source (Form 480.6B or 480.30)..................................................................................................
(2)
00
3.
Total (Add lines 1 and 2)........................................................................................................................................
(3)
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