Form L-1120 - City Of Lapeer Corporation Income Tax Return (Page 2 of 2) in pdf

NAME AS SHOWN ON L-1120

FEDERAL IDENTIFICATION NUMBER

SCHEDULE D - BUSINESS ALLOCATION FORMULA

Column 1

Column 2

Column 3

Located

Percentage

Everywhere

in Lapeer

(Column 2

divided by

1 a. Average net book value of real and tangible property

column 1)

b. Gross annual rent paid for real property only, multiplied by 8

c. Totals (Add lines 1a and 1b)

2 Total wages, salaries, commissions,

and other compensation of all employees

3 Gross receipts from sales made or services rendered

4 Total percentages (Add the three percentages computed from column 3, lines 1c, 2 and 3)

5 Business allocation percentage (One-third of line 4). Enter here and on page 1, line 10

In determining the business allocation percentage (Line 5), a factor shall be excluded from the computation only when such factor does not exist

anywhere insofar as the taxpayer's business operation is concerned. In such cases, the sum of the remaining percentages shall be divided by

the number of factors actually used.

In case of a taxpayer authorized by the Income Tax Administrator to use one of the special formulae, attach an explanation and use the lines provided

below:

a. Numerator

c. Percentage (a divided by b) Enter here and on page 1, line 10

b Denominator

d. Date of Administrator's approval letter

SCHEDULE E - ADJUSTMENTS

Schedule E is used to adjust the income reported on page 1, line 1, to give effect to the requirements of the Lapeer Income Tax Ordinance.

The period of time used to compute items for Schedule E must be the same as the period of time used to report income on page 1, line 1.

Schedule E entries are allowed only to the extent directly related to net income as shown on page 1, line 1.

Time period of adjustments:

From:

To:

Section 1 : Add - Items Not Deductible

All expenses (including interest) incurred in connection with derivaton of income not subject to Lapeer income tax

2 Lapeer income tax paid or accrued

2 $

3 Other (submit schedule)

3 $

4 Total additions (Add lines 1 through 3) Enter here and on page 1, line 4

4 $

Section 2 : Deduct - Items Not Taxable and Allowable Deductions

5 Interest from US obligations and from United States governmental units

6 Dividends received deduction

6 $

7 Dividend gross up of foreign taxes

7 $

8 Foreign tax deduction

8 $

9 Other (Submit schedule)

9 $

10 Total deductions (Add lines 5 through 9) Enter here and on page 1, line 6

10 $

SCHEDULE F - SUBCHAPTER S CORPORATION INCOME

Schedule F is used by Subchapter S corporations to reconcile the amount reported on line 1, page 1, L-1120, with Federal Form 1120S and Schedule K

of Federal 1120S.

Attach Federal Form 1120S and Schedule K of Federal 1120S.

1 Ordinary income (loss) from trade or business (per Federal 1120S)

1 $

2 Income (loss) per Schedule K, Federal 1120S, lines 2 through 10

2 $

3 Total income (loss) (Add lines 1 and 2)

3 $

4 Deductions per Schedule K, Federal 1120S

4 $

5 Taxable income before net operating loss deduction and special deductions (Subtract line 4 from line 3)

5 $

Enter here and on page 1, line 1 L-1120

L-1120 PAGE 2

Form L-1120 - City Of Lapeer Corporation Income Tax Return Page 2

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