Instructions For 2008 Form 4c - Wisconsin Department Of Revenue
ADVERTISEMENT
1Instructions for 2008 Form 4C
Who Must File
Part II – Reconciliation of Book Income or Net
Income per Income Statement With Net Income
A corporation engaged in a nonunitary business in and
Complete this schedule instead of Schedules V and W.
outside Wisconsin must determine the amount of in-
come attributable to Wisconsin by separate accounting.
Lines 6 through 10. Allocate the federal Schedule M-1
A nonunitary business is one in which the operations in
adjustments to Wisconsin and outside Wisconsin. For
Wisconsin are not dependent upon or contributory to the
federal Schedule M-3 filers, allocate the sum of the ad-
operations outside Wisconsin.
dition adjustments from Parts II and III on line 7 and the
sum of the subtraction adjustments from Parts II and III
A unitary business may use separate accounting only with
on line 9.
the approval of the Department. An application for such
approval should set forth in detail the reasons why sepa-
Lines 11a through 11k. Allocate the additions to federal
rate accounting will more clearly reflect the corporation’s
income to Wisconsin and outside Wisconsin. See the in-
Wisconsin net income. Mail the application to the Audit
structions for Schedule V in the Form 4 booklet for detailed
Bureau, Wisconsin Department of Revenue, Mail Stop
explanations of the additions to federal income.
5-144, P.O. Box 8906, Madison, WI 53708-8906 before
the end of the taxable year for which the use of separate
Line 12. Add lines 11a through 11k and enter the totals
accounting is desired.
on line 12. Enter the amount from line 12, column 3, on
Form 4, line 2.
File Form 4C with Wisconsin Form 4.
Lines 14a through 14o. Allocate the subtractions from
Specific Instructions
federal income to Wisconsin and outside Wisconsin. See
the instructions for Schedule W for detailed explanations
Part I – Allocation of Book Income or Net Income
of the subtractions from federal income.
per Income Statement
Line 15. Add lines 14a through 14o and enter the totals
on line 15. Enter the amount from line 15, column 3, on
Lines 1 and 3. Federal Schedule M-1 filers allocate
Form 4, line 4.
book income and expenses, as figured on a separate
company basis, to Wisconsin and outside Wisconsin.
Line 16. Enter the amount from line 16, column 1, on
Federal Schedule M-3 filers should allocate the income
Form 4, line 11. The amount from line 16, column 3, must
and expenses per the income statement, as figured on a
agree with Form 4, line 5.
separate company basis. Indicate the basis used for the
allocation and provide further details in Part II, line 18.
Lines 17 and 18. Enter the information requested. In-
clude a detailed explanation of how transfer prices were
For example, if the allocation is based on actual expenses,
determined for transactions between Wisconsin branches
as figured on a separate company basis, incurred at
and branches located outside Wisconsin.
each location, write “actual” in the “Basis of Allocation”
column in Part I and explain this in Part II, line 18. If the
allocation is based on the percentage of sales at each
location, enter the percentage allocable to Wisconsin in
Part I and explain how you determined the percentage
in Part II, line 18.
Line 5. The total company book income shown on line
5, in column 3, must agree with federal Schedule M-1,
line 1, figured on a separate company basis. For federal
Schedule M-3 filers, the total on line 5, in column 3, should
agree with the net income per income statement figured on
a separate company basis. Transfer the book income or
net income per income statement in all 3 columns of Part
I, line 5, to the appropriate columns in Part II, line 6.
IC-144
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial