Loveland Business Income Tax Return Form - City Of Loveland, Ohio Income Tax Office - 2003 Page 2
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SCHEDULE Y, BUSINESS ALLOCATION FORMULA – To be used in the event the books and records of
the business entity are not detailed enough to determine the income or loss from operations in the City of Loveland
without use of an allocation formula.
_______________________________________________________________________________________________
(a) located
(b) located in
(c) percentage
everywhere
Loveland
(b/a)_________
1. Average value of real & tangible personal property……….____________
____________
____________
AND/OR
Gross annual rentals paid multiplied by 8 (eight)………….____________
____________
____________
Total……………………………………………………......____________
____________
____________%
2. Gross receipts from sales and/or services provided………..____________
____________
____________%
3.
Wages, salaries & other compensation paid to
Employees (not independent contractors)…… …………____________
___________
____________%
4.
Sum the percentages in column (c ) …………………………………………………… ……………____________%
5.
Average (divide the summed percentages by the number of percentages used)………… ………….____________%
If there is an amount in column (a) and a -0- in column (b), the percentage is 0%
And should be used in computing the average.
_________________________________________________________________________________________________
SCHEDULE X, RECONCILIATION WITH FEDERAL TAX RETURN - Municipalities do not necessarily tax all
items of income, nor do they necessarily allow certain items as deductions in the same manner as the Internal Revenue
Service. It is therefore required that Schedule X is completed and all related Federal schedules & statements be attached.
ITEMS NOT DEDUCTIBLE
ITEMS NOT TAXABLE
A. CAPITAL LOSSES (EXCLUDING
ORDINARY LOSSES)……………….……………$____________
I.
CAPITAL GAINS (EXCLUDING ORDINARY
GAINS)…………………………………………….$____________
B. EXPENSES APPLICABLE TO NONTAXABLE
INCOME (AT LEAST 5% OF LINES J AND K)
$____________
J.
DIVIDENDS………………………………………..$____________
C. CITY TAXES BASED ON INCOME……………..$____________
K.
INTEREST INCOME……………………………….$____________
D. ALL STATE INCOME, FRANCHISE &
SINGLE BUSINESS TAXES……………………..$____________
L.
ROYALTIES (FROM INTANGIBLE
PROPERTY ONLY)………………………………..$____________
E.
GUARANTEED PAYMENTS…………….…….$____________
M. OTHER (Please list & document)
F.
CHARITABLE CONTRIBUTIONS….…………$____________
..
_________________________________________
G.
OTHER (please list & document)
_________________________________________
______________________________________
_________________________________________ $____________
______________________________________ $ ____________
N. TOTAL (Enter on line 2B)…………….$__________
H. TOTAL (Enter on line 2A)………………$ ___________
NOTE: Unless accompanied by copies of appropriate Federal returns, schedules, statements and payment as indicated on Line 17,
this form is not a legal final return.
Amounts of less than $2.00 (as indicated on line 12 or 15) are not refundable or collectible. Overpayments of less than $2.00
may be carried over to the next tax year.
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