Form Ppt - Alabama Business Privilege Tax Return And Annual Report - 2007 Page 2

Download a blank fillable Form Ppt - Alabama Business Privilege Tax Return And Annual Report - 2007 in PDF format just by clicking the "DOWNLOAD PDF" button.

Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.

Complete Form Ppt - Alabama Business Privilege Tax Return And Annual Report - 2007 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.

Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.

*07128302PPT*

FORM

BUSINESS PRIVILEGE

PPT

TAX YEAR

2007

PAGE 2

LABAMA

EPARTMENT OF

EVENUE

Alabama Business Privilege Tax

1c Determination Period End Date

Pass-Through Entity Privilege Tax Computation Schedule

(Balance Sheet Date):

1a FEIN

1b TAXPAYER NAME

______/______/________

(mm/dd/yyyy)

Part A – Net Worth Computation

I. S-Corporations

1 Issued capital stock and additional paid in capital (without reduction for treasury stock) but not

less than zero. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 Retained earnings, but not less than zero, including dividends payable. . . . . . . . . . . . . . . . . . . . . . . .

3 Amount of related party debt exceeding the sums of line 1 and 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 All payments for compensation, distributions, or similar amounts in excess of $500,000. . . . . . . . . . .

5 Total net worth (add lines 1-4). Go to Part B, line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

II. Limited Liability Entities (LLE's)

6 Sum of the partners’/members’ capital accounts, but not less than zero . . . . . . . . . . . . . . . . . . . . . . .

7 All compensation, distributions, or similar amounts paid to a partner/member in excess of $500,000.

8 Amount of related party debt exceeding the amount on line 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 Total net worth (add lines 6, 7 and 8). Go to Part B, line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

III. Disregarded Entities

10 (Reserved for future use.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11 If a disregarded entity has as its single member a taxpayer that is subject to the privilege tax, then the disregarded entity pays the

minimum tax. (Go to Part B, line 19.) Single Member Name: ______________________________________ FEIN: _________________

12 Assets minus liabilities for all disregarded entities that have as a single member an entity

that is not subject to the privilege tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13 Amount of related party debt exceeding the amount on line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14 For disregarded entities, all compensation, distributions,

or similar amounts paid to a member in excess of $500,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15 Total net worth (sum of lines 12, 13 and 14). Go to Part B, line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part B – Privilege Tax Exclusions and Deductions

Exclusions (Attach supporting documentation)

1 Net worth from Part A – line 5, 9, or 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 Book value of the investments by the taxpayer in the equity of other taxpayers

doing business in Alabama. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3 Unamortized portion of goodwill resulting from a direct purchase. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 Unamortized balance of properly elected post-retirement benefits pursuant to FASB 106. . . . . . . . . .

5 Total exclusions (sum of lines 2-4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 Net worth subject to apportionment (line 1 less line 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7 Apportionment factor (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

— — — — %

— — —

8 Total Alabama net worth (multiply line 6 by line 7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Deductions (Attach supporting documentation)

9 Net investment in bonds and securities issued by the State of Alabama or

political subdivision thereof, when issued prior to January 1, 2000. . . . . . . . . . . . . . . . . . . . . . . . . . . .

10 Net investment in all air, ground, or water pollution control devices in Alabama. . . . . . . . . . . . . . . . . .

11 Reserves for reclamation, storage, disposal, decontamination, or retirement associated with a

plant, facility, mine or site in Alabama . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12 Book value of amount invested in qualifying low income housing projects (see instructions) . . . . . . .

13 For S corporations and LLE’s, 30 percent of Alabama taxable income (see instructions) . . . . . . . . . .

14 Total deductions (add lines 9-13) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15 Taxable Alabama net worth (line 8 less line 14) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16a Federal Taxable Income (see instructions) . . . . . . . . . . . . . . . . . . .

16a

16b Tax rate (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16b

— — — — —

17 Gross privilege tax calculated (multiply line 15 by line 16b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

18 Alabama enterprise zone credit (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

19 Privilege Tax Due (line 17 less line 18) (minimum $100, for maximum see instructions)

Enter also on Form PPT, page 1, line 10, Privilege Tax Due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

S-corporations must complete and attach an Alabama Schedule AL-CAR, and enter $10 for the corporate

annual report fee on line 7, page 1. Other (noncorporate) pass-through entities are not required to file an

Alabama Schedule AL-CAR or pay the corporate annual report fee.