Form S-10 - Municipal Net Profit Return - 2005 Page 2
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2SCHEDULE X
RECONCILIATION WITH FEDERAL INCOME TAX RETURN
TO EXCLUDE INCOME NOT TAXABLE, AND EXPENSES NOT ALLOWABLE
Schedule X entries are allowed only to the extent directly included in determination of net profits as shown on your Federal Return.
ITEMS NOT DEDUCTIBLE – ADD
ITEMS NOT TAXABLE – DEDUCT
A. CAPITAL LOSSES – SECTION 1221 OR 1231 .................. $ __________________
J. CAPITAL GAINS – SECTION 1221 OR 1231 .................... $ __________________
B. 5% OF LINE K – INTANGIBLE INCOME ............................
__________________
K. INTANGIBLE INCOME (excluding 1221 gains)
C. TAXES BASED ON INCOME ..............................................
__________________
INTEREST INCOME
__________________
D. REIT – OTHER INVESTOR BENEFITS (See Instr.) ..........
__________________
DIVIDENDS
__________________
E. S CORPORATION DISTRIBUTIONS ..................................
__________________
OTHER
__________________
F. GUARANTEED PAYMENTS TO PARTNERS ......................
__________________
SUBTOTAL INTANGIBLE INCOME ........................
__________________
G. SELF-EMPLOYED/OWNER EXPENSES (See Instr.) ........
__________________
L. OTHER DEDUCTIONS (See Instr.) ....................................
__________________
H. OTHER (Explain)..................................................................
__________________
M. OTHER (Explain)..................................................................
__________________
I.
TOTAL ADDITIONS (enter Line 2A, Page 1) ...................... $ __________________
Z. TOTAL DEDUCTIONS (enter Line 2B, Page 1) .................. $ __________________
SCHEDULE Y
BUSINESS ALLOCATION FORMULA
A. Located
B. Located in
C. Percentage
Everywhere
Solon
[(B) Divided (A)]
Step 1
Average value of real and tangible personal property ............................ $ ________________
$ ________________
Gross annual rentals multiplied by 8 ......................................................
________________
________________
Total step 1.............................................................................................. $ ________________
$ ________________
_________________%
Step 2
Total wages, salaries, commissions and other compensation
of all employees ...................................................................................... $ ________________
$ ________________
_________________%
Step 3
Gross receipts from sales and work or services performed
(See instructions) .................................................................................... $ ________________
$ ________________
_________________%
Step 4
Total percentages....................................................................................
_________________%
Average percentage (Divide total percentages by number of percentages used – enter on line 3B, Page 1)............................................................... _______________%
Step 5
SCHEDULE Z
PARTNERS DISTRIBUTIVE SHARES OF NET INCOME (From Federal Schedule 1065K and 1099)
3. Distributive Shares
2. Resident
4. Other
5. Taxable
6. Amount
of Partners
Payments
Percentage
Taxable
1. NAME AND ADDRESS OF EACH PARTNER
Yes
No
Percent
Amount
(a)
% $
$
% $
(b)
(c)
(d)
7. TOTALS
100% $
$
% $
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