Form Br - Akron Income Tax Business Return Page 2
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2Form BR Page 2
WORKSHEET X
Reconciliation with Federal Income Tax Return Per Ohio Revised Code 718
.
1. FEDERAL TAXABLE INCOME before net operating losses and special deductions per attached Federal return (Form 1120,
Line 28; Form 1120S, Schedule K, Page 4- Line 18; Form 1120-REIT, Line 20; Form 1065, Schedule K - Analysis of Net
1
Income (Loss), Page 5 - Line 1; Form 1041, Line 17; Form 990 T, Line 30) ………………………….…………
2
2. Items not deductible (from Line 7J below) ………………………………………………………………..
3
3. Items not taxable (from Line 8D below) ……………………………………………………………………
4
4. Subtract Line 3 from Line 2 and enter the result here ……………………………………………………………………………………..
5
5. Other City taxable income that is not shown on Federal return …………………………………………………………………………..
6. Adjusted net income (total Lines 1, 4 and 5). If result is greater than zero, enter on Line 1 of Page 1. If result is a negative
6
number, enter in Worksheet F on Page 1, “
” column ( If allocation is required, complete Worksheet Y below) ..
TAX YR OF FILING
ITEMS NOT DEDUCTIBLE
7A
7. A.
Capital Losses (including Section 1221 and 1231 assets) - Enter as a positive number ………..…..…
7B
B.
5% of Line 8B (If Section 1221 asset was disposed of in current tax year, See Instructions) …………
C.
Guaranteed payments to partners, retired partners, members or other owners (only include payments
7C
not already included in net profits figure shown above) ………………………………………………..……
7D
D.
Taxes based on income (such as state and local income taxes) ..…………………………………….…...
E.
Amounts paid or accrued to qualified retirement, health and life insurance plans on behalf of owners
7E
and owner employees of businesses, with the exception of C corporations ……………………………..
7F
F.
Charitable contributions in excess of 10% (See instructions) ..……………………………………………
G.
4797 “Recovery of Depreciation” from sale or exchange of Sections 1245 or 1250 property
7G
(See instructions) ..………………………………………………………………………………………..…….
7H
H.
REIT’s and RIC’s – Real estate investment trusts and regulated investment companies must add
back all dividends, distributions or amounts set aside for the benefit of investors ………………………
7I
I.
Other expenses not deductible (attach documentation and/or explanation) …………………………….
7J
J.
TOTAL ADDITIONS (enter here and on Line 2 above) ………………………………………………………………………….…
ITEMS NOT TAXABLE
8A
8. A.
Capital gains (including Section 1221 and 1231 assets) …………………………………………………….
8B
B.
Intangible income (Interest, dividends, patents, etc.) ………………………………………………………
8C
C.
Other exempt income (attach documentation and/or explanation) …...………………….………….…….
8D
D. TOTAL DEDUCTIONS - Do not include Schedule K-1 income (enter here and on Line 3 above) ......…………………………
If there is business activity both inside and outside of Akron use this 3-factor formula.
Business
WORKSHEET Y
A. LOCATED EVERYWHERE
B. LOCATED IN AKRON
C. PERCENTAGE (B÷A)
Allocation
1.
.……....…… $______________________
$______________________
Average original cost of real and tangible property
...
1
…….………………….…… $______________________
$______________________
Gross annual rentals multiplied by 8
%
_________
……..………………………………………….… $______________________
$______________________
Totals
2.
Total wages, salaries, commissions and other compensation
2
%
paid to all employees ……………………………………………….
$______________________
$______________________
_________
3.
Gross receipts from sales and work or services
3
%
performed ……………………………………………………………..
$______________________
$______________________
_________
4
4.
Total of percentages ………………………………………………………………………………………………………………………………………………
%
_________
5
5.
Average percentage (Divide total percentages by number of percentages used.) ………………………………………………………………………..
%
_________
6.
Multiply Line 5 times Line 6 of Worksheet X, and enter the result here. If result is greater than zero, enter this amount on Line 2 of Page 1.
6
If result is less than zero, enter this amount in Worksheet F on Page 1 in the “TAX YR OF FILING” column. This loss may be carried forward……
WORKSHEET W
Reconciling Wages, Salaries & Other Compensation
(Complete if you had Akron employees)
1. Total wages allocated to Akron (from Federal Return or Business Allocation, Worksheet Y above, Line 2, Column B) ……….
1- _______ - __
2. Total Akron wages shown on Form AW-3 (Withholding Reconciliation) Akron Withholding Account #
Explain any difference:
Were there any employees that you leased during the year covered by this return? _________ YES _________ NO
If YES, how many? __________
NAME OF LEASING COMPANY
MAILING ADDRESS
FEDERAL EIN
Rev 1/17
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