Business Income Tax Return Form - 2016 (Page 2 of 2) in pdf

SCHEDULE X: Reconciliation with Federal Return as Required by ORC Section 718

ITEMS NOT DEDUCTIBLE

ADD

ITEMS NOT TAXABLE

DEDUCT

a. Capital Losses (IRC 1221 or 1231 property) ..............................................$ ________________

n. Capital Gains (IRC 1221 or 1231 property except to the extent the

income and gains apply to those described in IRC 1245 or 1250) .............$ ________________

b. Expenses attributable to intangible income

(5% of total intangible income, excluding capital gains) .........................$ ________________

o. Federally reported intangible income such as, but not limited to,

interest and dividends and Other Intangible Income as defined

c. Taxes based on or measured by net income .............................................$ ________________

in ORC 718.01(S) ......................................................................................$ ________________

d. Loss incurred by a pass-through entity owned directly or indirectly by a taxpayer and included in the

r. Other (Explain) .........................................................................................$ ________________

taxpayer’s Federal Taxable Income unless the loss is included in the Net Profit of an affiliated group

___________________________________________________

in accordance with ORC 718.06(E)(3)(b) ..................................................$ ________________

___________________________________________________

e. Guaranteed payments to current or former partners, shareholders

___________________________________________________

or members..............................................................................................$ ________________

___________________________________________________

f. Real Estate Investment Trust (REIT) distributions .....................................$ ________________

___________________________________________________

g. Amounts paid or accrued to or for health or life insurance for current or former partners,

___________________________________________________

shareholders or members of non-C Corporation entities ..........................$ ________________

___________________________________________________

h. Other (Explain) ........................................................................................$ ________________

m. Total Additions (Enter on Line 2a, page 1) ...............................................$ ________________

z. Total Deductions (Enter on Line 2b, page 1) .............................................$ ________________

SCHEDULE Y: Business Apportionment Formula

a. LOCATED EVERYWHERE

b. LOCATED IN EVENDALE

c. PERCENTAGE (b

STEP 1. ORIGINAL COST OF REAL AND TANGIBLE PERSONAL PROPERTY

________________

GROSS ANNUAL RENTALS PAID MULTIPLIED BY 8

________________

TOTAL STEP 1

________________

_______________%

STEP 2. GROSS RECEIPTS FROM SALES MADE AND/OR WORK OR SERVICES PERFORMED

________________

_______________%

STEP 3. WAGES, SALARIES AND OTHER COMPENSATION PAID

________________

_______________%

4. TOTAL PERCENTAGES

_______________%

5. AVERAGE PERCENTAGE (Divide total percentages by number of percentages used.)

Carry to Line 3b, Page 1 ................................................................................................. _______________%

INSTRUCTIONS FOR LINES 1 THROUGH 8

Attach copy of Federal return and schedules. Enter the Adjusted Federal Taxable Income (AFTI) as defined by the ORC 718.01. AFTI means a C Corporation’s Federal taxable

income before net operating losses and special deductions. Other business entities must compute the AFTI as if they were a C Corporation. Generally, this is the line titled “Income

(Loss) Reconciliation” on the Schedule K of the Form 1120S for subchapter S Corporations or the line titled “Analysis of Net Income (Loss)” of the Form 1065 for Partnerships and Limited

Liability Companies.

All business entities must use Schedule X, page 2, to determine items not taxable/deductible.

Business entities with less than 100% of operations located in Evendale must use Schedule Y.

3b. Enter the apportionment percentage from Schedule Y, Step 5.

3c. Multiply Line 3a by Line 3b.

3d. Enter the amount of the loss carryforward, if applicable. The loss may be carried forward for a maximum of three years.

7a. Late filing fee for all tax returns and forms is $25.00 per month of portion thereof, not to exceed $150.00.

7b. Penalty due is 15% of the amount not timely paid.

7c. Interest is imposed on all tax not timely paid. The rate is adjusted annually based on the federal short-term rate + 5%. The 2017 interest rate is 6%. Please call the Tax

Department at (513) 563-2671 for questions regarding the interest rate.

7d. Indicates amount of TAX DUE. If this line is equal to $10.00 or more, full payment must be received on or before the due date. If this line is less than $10.00, the amount is not

collectible – enter zero.

If Line 6c is greater than Line 5, enter the amount of the overpayment to be refunded and/or credited. The overpayment will be credited to next year unless a refund is requested. If the

overpayment amount is less than $10.00, the amount will not be refunded.

As required by Ohio Law, estimated tax must be computed and remitted on a quarterly basis if the estimated amount for the year (Line 10) exceeds $200.00. To avoid penalties,

estimated payments must be equal to 100% of the prior year’s tax liability, or 90% of the current year’s tax liability. See the schedule below for 2017 Declaration and quarterly

estimated tax payment due dates.

2017 DECLARATION AND RETURN PAYMENT CALENDAR

APRIL 18, 2017

JUNE 15, 2017

SEPTEMBER 15, 2017

DECEMBER 15, 2017

APRIL 17, 2018

File 2016 Income Tax Return

Remit 2nd

Remit 3rd

Remit 4th

File 2017 Income Tax Return