Business Tax Return - City Of Trenton Income Tax Division

Part B – DECLARATION OF ESTIMATED TAX FOR 2013

The taxpayer shall base the estimated tax on the preceding full year's tax liability.

LINE 17: Enter the amount of estimated income for 2013 using one of the two safe harbors above.

LINE 18: Enter the total tax due for 2013.

LINE 19: Enter the amount of credits from Line 16.

LINE 20: Subtract Line 19 from Line 18 to determine the amount of estimated tax for the year.

LINE 21: Pay at least 25% of Line 20. This is the first of four quarterly estimated tax payments. The second payment is due on the

30th day of the 7

month after the beginning of the year and is equal to the total estimated tax on Line 20 divided by 4. Third

payment is due on the 10

month after the beginning of the year and the final estimated payment is due on the 13

month after the

beginning of the taxable year.

LINE 22: TOTAL AMOUNT DUE WITH RETURN

Combine Line 13 and Line 21

Schedule X – Reconciliation with the Federal Return

A. Enter the amount included in Line 1 of the Business Tax Return related to the sale, exchange, or other disposition of an asset

described in section 1221 or 1231 of the Internal Revenue Code.

B. Enter any taxes on or measured by net income included as a deduction in computing Line 1.

C. Enter any guaranteed payments or similar payments made to partners, members or other owners that were deducted in arriving at

the income amount on Line 1. This includes amounts related to self-employed retirement plans and health or life insurance for an

owner or owner-employee.

Enter 5% of the intangible income included in Line 1 of the Business tax return that is not directly related to the sale, exchange or

other disposition of property described in Section 1221 or 1231 of the Internal Revenue Code.

Add Real Estate Investment Trust distribution deductions allowed as a deduction in the computation of Federal Taxable Income.

Other. Please provide a complete explanation. Examples: Losses from Flow-Thru Entities, Real Estate Rental Losses.

Add Lines A through F.

H. Enter the amount of the income that is included on Line 1of the Business Tax Return that is directly related to the sale, exchange,

or other disposition of an asset described in Section 1221 or 1231 or the Internal Revenue Code less the income and gain included

in this amount that is described in Section 1245 or 1250 of the Internal Revenue Code.

Enter the total amount of intangible income included in Line 1of the Business tax return that is not directly related to the sale,

exchange or other disposition of property described in Section 1221 or 1231 of the Internal Revenue Code.

If Line 1 of the return includes other income exempt from municipal tax, enter on this Line and explain.

K. Add Lines H-J.

L. Deduct Line K from Line G. Insert the net amount as an addition (or deduction) on Part A, Line 2.

Schedule Y – Apportionment to Trenton

Step 1. The original average cost of the real and tangible personal property owned or used by the taxpayer in the City of Trenton

during the taxable period to the original cost of all of the real and tangible personal property owned or used by the taxpayer during the

same period, wherever situated.

Real property shall include property rented or leased by the taxpayer and the value of such property shall be determined by

multiplying the annual rental thereon by eight.

Sum the amounts Located Everywhere and the amounts located in Trenton. Divide the Trenton total by the Everywhere total.

Step 2. Total compensation paid during the period to persons employed in the business for services performed in the City of Trenton

to total compensation paid during the same period to persons employed in the business everywhere. Do not include amounts paid to

contractors.

Step 3. Gross receipts of the business or profession from sales made and services performed during the taxable period in the City of

Trenton to gross receipts of the business or profession during the same period from sales and services, wherever made or performed.

Business Tax Return - City Of Trenton Income Tax Division - 2012 Page 4

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