Schedule N Incentives - Partially Exempt Income

Rev. 03.11

Schedule N Incentives - Page 2

Part III

Gross Profit on Sales and Other Income

Net sales ..............................................................................................................................................

(1)

Less: Cost of goods sold or direct costs of production

Inventory at the beginning of the year

"C"

"C" or "MV"

a) Materials ..................................................................................................

(2a)

b) Goods in process ......................................................................................

(2b)

c) Finished goods or merchandise ...................................................................

(2c)

Purchase of materials or merchandise ...............................................................

(3)

Direct wages .................................................................................................

(4)

Other direct costs (Detail in Part V) ...................................................................

(5)

Total costs of goods available for sale (Add lines 2 through 5) ................................

(6)

Less: Inventory at the end of the year

"C"

"C" or "MV"

a) Materials ............................................................

(7a)

b) Goods in process ................................................

(7b)

c) Finished goods or merchandise ............................

(7c)

Gross profit on sales or production ..................................................................................................................................................

(8)

Designated services income ...........................................................................................................................................................

(9)

10.

Rent ...........................................................................................................................................................................................

(10)

11.

Interest .......................................................................................................................................................................................

(11)

12.

Royalties ....................................................................................................................................................................................

(12)

13.

Other income (Submit detail) ..........................................................................................................................................................

(13)

14.

Total gross income (Add lines 8 through 13) ..................................................................................................................................

(14)

Part IV

Deductions and Net Operating Income

15.

Compensation to officers ......................................................................................................

(15)

16.

Salaries, commissions and bonuses to employees ..................................................................

(16)

17.

Commissions to businesses .................................................................................................

(17)

18.

Social security tax (FICA) ...................................................................................................

(18)

19.

Unemployment tax .............................................................................................................

(19)

20.

State Insurance Fund premiums ...........................................................................................

(20)

21.

Medical or hospitalization insurance .......................................................................................

(21)

22.

Insurance ..........................................................................................................................

(22)

23.

Interest ..............................................................................................................................

(23)

24.

Rent ..................................................................................................................................

(24)

25.

Property tax: (a) Personal _______________ (b) Real _______________ ..................................

(25)

26.

Other taxes, patents and licenses (Submit detail) .....................................................................

(26)

27.

Losses from fire, storms, theft or other casualties ......................................................................

(27)

28.

Motor vehicles expenses (Do not include depreciation) .............................................................

(28)

29.

Meals and entertainment expenses (Total ___________) (See instructions) ..................................

(29)

30.

Travel expenses .................................................................................................................

(30)

31.

Professional services ..........................................................................................................

(31)

32.

Contributions to pension or other qualified plans

...........

(32)

(See instructions. Submit Schedule F Incentives)

33.

Depreciation (See instructions. Submit Schedule E) .................................................................

(33)

34.

Bad debts (See instructions. Submit detail) .............................................................................

(34)

35.

Charitable contributions ........................................................................................................

(35)

36.

Repairs ..............................................................................................................................

(36)

37.

Other deductions (See instructions. Submit detail) ....................................................................

(37)

38.

Total deductions (Add lines 15 through 37) ............................................................................................................................

(38)

39.

Net operating income (or loss) for the year (Subtract line 38 from line 14. Enter here and in Part I, line 1) ..........................................

(39)

Part V

Other Direct Costs

Salaries, wages and bonuses .........................

Cost sharing allocation ........................................

(1)

(8)

Social security tax (FICA) .............................

Repairs ..............................................................

(2)

(9)

Unemployment tax ........................................