Partnership Schedule Rz Of Gr-1065 City Of Grand Rapids Income Tax
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1
2PARTNERSHIP
SCHEDULE RZ OF GR-1065
TAX YEAR:
CITY OF GRAND RAPIDS INCOME TAX
FOR COMPUTATION OF THE RENAISSANCE ZONE DEDUCTION
FOR USE BY A PARTNERSHIP LOCATED AND DOING BUSINESS IN A GRAND RAPIDS RENAISSANCE ZONE
1.
Partnership name as shown on GR-1065
2.
Federal Employer Identification Number
-
3.
Address of each location in a Grand Rapids Renaissance Zone
4.
Dates qualified to claim Renaissance Zone deduction this tax year :
Starting date
/
/
Ending date
/
/
DISQUALIFICATION SECTION
A PARTNERSHIP IS NOT QUALIFIED TO CLAIM THE RENAISSANCE ZONE DEDUCTION IF ANY OF THE FOLLOWING TAXES ARE DELINQUENT:
Grand Rapids Income Tax
Personal Property Tax
Commercial Facilities Tax (CFT)
City (Detroit) Utilities Users Tax
Michigan Income Tax
Michigan Single Business Tax
Enterprise Zone Tax
Technology Park Development Tax
General Property Tax
Industrial Facilities Tax (IFT)
Neighborhood Enterprise Zone Tax
Commercial Forest Tax
PARTNERSHIP LOCATED AND DOING BUSINESS IN A GRAND RAPIDS RENAISSANCE ZONE
TO CLAIM A RENAISSANCE ZONE DEDUCTION A PARTNERSHIP MUST HAVE REAL AND/OR PERSONAL PROPERTY
LOCATED IN A GRAND RAPIDS RENAISSANCE ZONE AND BE CONDUCTING BUSINESS ACTIVITY IN THE ZONE
COLUMN 1
COLUMN 2
COLUMN 3
RENAISSANCE ZONE APPORTIONMENT PERCENTAGE
LOCATED IN
LOCATED IN
GRAND RAPIDS
RENAISSANCE ZONE
PERCENTAGE
Average net book value of real and tangible personal property
(Column 2
5a.
5a
(If qualified for less than a full tax year, use monthly average)
divided by
column 1)
5b. Gross rents paid on real property multiplied by 8
5b
5c. Total property (Add lines 5a and 5b of columns 1 and 2)
%
5c
6. Total wages, salaries and other compensation
%
6
7. Total percentages (Add column 3 lines 5c and 6)
%
7
8. Renaissance Zone deduction percentage (Divide line 7 by 2)
%
8
`
RENAISSANCE ZONE DEDUCTION FOR BUSINESS INCOME PRIOR TO PHASE OUT
COLUMN 1
COLUMN 2
COLUMN 3
COLUMN 4
COLUMN 5
BASIS FOR
ALLOCATED
NET OPERATING
RETIREMENT PLAN
RENAISSANCE ZONE
COMPUTING
BUSINESS INCOME
LOSS DEDUCTION
DEDUCTION
DEDUCTION FOR
RENAISSANCE ZONE
FROM GR-1065,
CLAIMED
CLAIMED
BUSINESS INCOME
SCHEDULE C
ON PARTNERS
ON PARTNERS
DEDUCTION FOR
BEFORE PHASE OUT
BUSINESS INCOME
COLUMN 5
GRAND RAPIDS
GRAND RAPIDS
RETURN, GR-1040R RETURN, GR-1040R
(Column 1 less
(Column 4 times line 8)
OR GR-1040NR
OR GR-1040NR
columns 2 and 3)
9. (a)
9. (a)
9. (b)
9. (b)
9. (c)
9. (c)
9. (d)
9. (d)
9. (e)
9. (e)
Totals
Totals
RENAISSANCE ZONE DEDUCTION PHASE OUT FOR BUSINESS INCOME
COLUMN 1
COLUMN 2
COLUMN 3
The Renaissance Zone designation starts on January 1 of
BUSINESS INCOME
RENAISSANCE ZONE
RENAISSANCE ZONE
the first year of designation and ends on December 31 of the
PHASE OUT
DEDUCTION
DEDUCTION FOR
final year of designation. The deduction is reduced during
PERCENTAGE
PHASE OUT FOR
BUSINESS INCOME
the last 3 calendar years of a zone's designation. The
BUSINESS INCOME
reduction phase out is: 0% for all but the last three years of
(Enter computed phaseout
a zone's designation; 25% for the tax year that is 2 years
(Line 9, column 5, times
(Line 9, column 5, less line
percentage from Schedule
before the final year of designation; 50% for the tax year
line 10, column 1)
10, column 2)
A, page 2)
immediately preceding the final year of designation; and
10. (a)
75% for the final year of designation. For example,
10. (b)
properties in Renaissance within Zones 1 through 6, began
10. (c)
enter the phase out period in 2009 (unless the specific
10. (d)
property was granted an extension).
10. (e)
Totals
RENAISSANCE ZONE DEDUCTION FOR NONBUSINESS INCOME COMPUTED ON OTHER SIDE
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