Form Dr-350111 - Intangible Tax Self_audit Worksheet (Page 6 of 8) in pdf

DR-350111

R. 06/07

Page 6 of 8

completing the Worksheet

Calculation Worksheet and on Schedule A, Line 6.

If the amount is less than zero, enter 0.

Schedule A

The values which appear on Line 6D in each box

To assure that your return is properly credited to your

of the Tax Calculation Worksheet are the tax dollar

equivalent of the property value exemptions.

account, verify the information printed on the cover

letter. Lines 1 through 8 cannot be completed until

the supporting schedules have been completed.

• For example, an individual having taxable

Proceed to Schedule B of the return.

intangible property valued at less than $100,000

for 2001 would be entitled to an exemption of

Be sure that all totals from Schedules B, C, D & E

$20,000 and is subject to only a 1 mill (.001)

have been transferred to Schedule A correctly.

tax. In tax dollars this exemption is worth $20.00

($20,000 x .001 = $20.00)

Line 1 Enter the total from Schedule B, Line 9.

• A married couple filing a joint return having

Line 2 Enter total from Schedule C, Line 10.

intangible property valued at more than $200,000

would be entitled to an exemption of $40,000 for

Line 3 Enter total from Schedule D, Line 11.

2001.

Line 4 Enter total from Schedule E, Line 12.

Line 7 For returns filed after the due date, enter

any interest due on tax payments which are

Line 5 Enter total of lines 1 through 4.

late.(See the Interest Calculation Worksheet

on Page 4 and instructions for Interest on

Line 6 To determine the amount of tax due you must

Page 8.)

complete the Tax Calculation Worksheet

on Page 2 of the Worksheet. Complete the

Line 9 Enter the total from Lines 6 and 7. This total

Tax Calculation Worksheet by entering the

should agree with the amount you remit with

amount from Schedule A, Line 5, on either

the worksheet. Be sure to sign and date your

Box A, Box B, Box C, or Box D of the Tax

worksheet.

Calculation Worksheet.

Schedule b - bonds

Only one box is to be completed.

List on Schedule B all taxable bonds you owned

• Use Box A if your filing status is individual and

on January 1 of the applicable year. List the bonds

Line 5 on Schedule A is $100,000 or less.

alphabetically. This schedule requires you to provide

specific information about each bond. Columns A

• Use Box b if your filing status is individual and

through E are to be completed as follows: Column A

Line 5 on Schedule A is more than $100,000.

is for the denomination or dollar amount stated on the

face of your bond, for example $1,000 or $10,000;

• Use Box c if your filing status is joint and Line 5

Column B is the stated rate of interest paid to you

on Schedule A is $200,000 or less.

by the bond issuer, for example 6% or 9%; Column

C is the maturity date on which you will be paid the

• Use Box D if your filing status is joint and Line 5

full amount of the bond; Column D is the number of

on Schedule A is greater than $200,000.

bonds you owned on January 1 of the applicable year,

for the denomination shown in Column A; Column E is

After entering the amount on Line 5 of Schedule

the market value of the bond. Bonds have historically

A on the appropriate line of the Tax Calculation

been valued in units of $100 and is the price generally

found as the quoted market price on an exchange.

Worksheet, multiply the amount by the tax rate

shown on Line 6B. From Line 6C subtract the

The Total Taxable Amount column is for the total

amount of your appropriate exemption shown on

market value of the bonds you have listed on each

Line 6D. Enter the results on Line 6E of the Tax

line.

Form Dr-350111 - Intangible Tax Self_audit Worksheet Page 6

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