Form 512 - Corporation Income Tax Return - 2014 Page 2
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52014 Form 512 - Page 2
Schedule A, Column B is for corporations whose income is all within Oklahoma and/or for corporations
Schedule A
whose income is partly within and partly without Oklahoma (not unitary). Enclose a complete copy of
your Federal return.
Important: All applicable lines and schedules must be filled in.
Column A
Column B
As reported on
Total applicable
Gross Income
(lines 1 through 11)
Federal Return
to Oklahoma
1
Gross receipts or gross sales __________________
1
(less: returns and allowances) ..............
2
Less: Cost of goods sold .......................................................................................
2
3 Gross profit (line 1 minus line 2) .............................................................................
3
4 Dividends ................................................................................................................
4
5
Interest on obligations of the United States and U.S. Instrumentalities..................
5
6
(a) Other interest ..................................................................................................
6a
(b) Municipal interest ............................................................................................
6b
7
Gross rents .............................................................................................................
7
8
Gross royalties........................................................................................................
8
9
(a) Net capital gains..............................................................................................
9a
(b) Ordinary gain or [loss] .....................................................................................
9b
10
Other income (enclose schedule) ..........................................................................
10
Total income (add lines 3 through 10) ..................................................................
11
11
Deductions
(lines 12 through 27)
12 Compensation of officers .......................................................................................
12
13
Salaries and wages ...............................................................................................
13
14
Repairs ..................................................................................................................
14
15
Bad debts ..............................................................................................................
15
16
Rents .....................................................................................................................
16
17
Taxes .....................................................................................................................
17
18
Interest...................................................................................................................
18
19
Charitable Contributions ........................................................................................
19
20 Depreciation ..........................................................................................................
20
21 Depletion (see instructions below).........................................................................
21
22
Advertising .............................................................................................................
22
23 Pension, profit-sharing plans, etc. .........................................................................
23
24 Employee benefit programs...................................................................................
24
25 Domestic production activities deduction ..............................................................
25
26
Other deductions (enclose schedule) ....................................................................
26
27
Total Deductions (add lines 12 through 26) .........................................................
27
Totals
(lines 28 through 30)
28
Taxable income before net operating loss deductions and special deductions .....
28
29
Less: (a) Net operating loss deduction (schedule) ............................................
29a
(b) Special deductions ..............................................................................
29b
30
Taxable income
Enter Column B on page 1, line 1 .....
(line 28 minus lines 29a & b).
30
Note: Indicate method used to allocate expenses to Oklahoma and enclose schedule of computations.
Oklahoma Depletion in Lieu of Federal Depletion -
Oklahoma depletion on oil and gas may be computed at 22% of gross income
derived from each Oklahoma property during the taxable year. Major oil companies, as defined in 52 Oklahoma Statutes Section 288.2, when computing Oklahoma depletion
shall be limited to 50% of the net income (computed without the allowance for depletion) from each property. Depletion schedule by property must be enclosed with return.
Note: General and administrative expense (computed on basis of Oklahoma direct expense to total direct expense) must be deducted before applying the 50% test.
Additional Information
Location of Principal Accounting Records
Address
City
State
Zip
Has the Internal Revenue Service redetermined your tax liability for prior years?
Yes
No What years? ____________________
Did you file amended returns for the years stated above?
Yes
No
N/A
Has the statute of limitations been extended by consent for any prior years?
Yes
No What years? ____________________
Business name _________________________________________________ Date business began in Oklahoma ________________
Principal location(s) in Oklahoma _________________________________________________________________________________
Give name, address and relationship of all affiliated corporations - enclose Federal Form 851
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
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