General Instructions For Corporations, Partnerships, Fiduciaries, Estates And Trusts - City Of Dublin, Ohio - 2008, Afti Worksheet Adjusted Federal Taxable Income Page 2
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3INSTRUCTIONS FOR COMPLETION OF THE BUSINESS TAX RETURN
If this return is for a period other than the calendar year, insert the beginning and ending date of the period. Enter your name and account number.
Your account number is the same as your Federal identification number.
Enter amount of taxable income from your Federal form. In the case of a taxpayer that is not a C corporation, Adjusted Federal
Line 1:
Taxable Income should be computed using the Adjusted Federal Taxable Income Worksheet located at
under 2008 Income Tax Forms. ATTACH COPIES OF ALL APPLICABLE FEDERAL FORMS.
Adjustments: Combine the items “not deductible” and the items “not taxable” from Schedule X
Line 2:
on the reverse. Items not taxable must be included in income to be deductible.
Taxable income to Dublin before allocation. Subtract or add Line 2, as applicable from Line 1 to determine taxable income.
Line 3:
Allocation percentage: from Schedule Y. Used to determine the percentage of income generated
Line 4:
within and/or outside of Dublin. (See Line 4 under General Instructions on next page.)
Dublin Taxable Income: Line 3 multiplied by Line 4.
Line 5:
Line 6:
Dublin income tax: Multiply Line 5 by 2.0% (.02) to determine the amount of Dublin Income Tax.
Line 7:
Total estimated payments remitted for current year.
Line 8:
Enter amount of previous year’s credits carried forward.
Line 9:
Other Credits. (Explain)
Line 10:
Total of Lines 7, 8 and 9.
Line 11:
Total tax due after credits. Subtract Line 10 from Line 6.
Line 12A:
Add 10% penalty, if applicable. See General Instructions, Line 10 on next page.
Line 12B:
Add 1.5% interest, per month, if applicable. See General Instructions, Line 10 on next page.
Line 13:
Total due. Pay this amount and any estimated tax amount on Line 21 below, if applicable.
Line 14:
Indicate amount of overpayment if Line 10 is greater than Line 6.
Line 15, 16:
Indicate disposition of overpayment.
Instructions for Declaration of Estimated Tax:
Line 17:
Enter estimated amount of income subject to tax.
Line 18:
Multiply Line 17 by 2.0% (.02).
Line 19:
Enter at least 25% of Line 18.
Line 20:
Enter amount of overpayment from above or amounts previously paid.
Line 21:
Subtract Line 20 from Line 19.
Line 22:
Add amounts on Lines 13 and 21. Make check payable to City of Dublin and mail to P.O. Box 9062, Dublin, Ohio 43017-0962.
Instructions for Schedule X
This schedule is used to adjust your Federal net income to your Dublin taxable income. The left column is for items deductible on the Federal
return, but not deductible under the Dublin ordinance. The right column is for items taxable on the Federal return, but not taxable by Dublin.
LINE C - Add 5% of the amount deducted as intangible income, but not the portion of the intangible income related to the sale, exchange
or disposition of property described in Section 1221 of the Internal Revenue Code IRC.
LINE E - In the case of a taxpayer that is not a C corporation and is not an individual, the taxpayer shall compute Federal Taxable Income (FTI)
as if the taxpayer were a C corporation and, in addition to the above adjustments, shall not be allowed a deduction for payments to a qualified
self-employed retirement plan, payments for health or life insurance for an owner or owner-employee, or federal self-employment tax.
LINE F - In the case of a real estate investment trust or regulated investment company, add all dividends, distributions, or amounts set aside
for the benefit of investors and allowed as a deduction in the computation of FTI.
Instructions for Schedule Y
This schedule is used to determine the amount of income subject to Dublin income tax. See item 4 of General Instructions on next page.
Instructions for Schedule Y-1
Use this schedule to reconcile wages, salaries, etc., allocated to Dublin with total salaries, wages, etc., shown on W-3, Withholding Reconciliation.
Instructions for Schedule Z
Partners’ distributive share of net income. Attach copy(s) of applicable Federal forms. List the information indicated and carry forward to Line 1.
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