Income Tax Return - 2003 - Village Of Walbridge Page 2

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YOU MUST ATTACH APPROPRIATE FEDERAL SCHEDULE(S)
SECTION C
OTHER TAXABLE INCOME
PAGE 2
1
Profit (or Loss) from Business or Profession, Federal Schedule C or F
NET INCOME SECTION 1 ................. $ _______________
2
Income from Federal Schedule E
NET INCOME SECTION 2 ................. $ _______________
3
All other Taxable Income (e.g. lotteries, 1099’s, etc.)
NET INCOME SECTION 3 ................. $ _______________
INCOME FROM CORPORATIONS, PARTNERSHIPS, ESTATES & TRUSTS, FEES, TIPS, COMMISSIONS, WAGES AND MISCELLANEOUS
TOTAL
Enter on Page 1, Line 2 ..........................................................................................................................
$
Schedule X - USE THIS RECONCILIATION WITH FEDERAL INCOME TAX RETURN ONLY IF ANY OF THESE ITEMS ARE INCLUDED ON LINE 2 Page 1
Items Not Deductible
ADD
Items Not Taxable
DEDUCT
a.
Capital loss. (Excluding Ordinary Losses) ...................................... $ ______________
n.
Capital gain. (Excluding Ordinary Gains) ........................................ $ ______________
b.
Interest and / or Other Expense incurred in the production
o.
Interest earned or accrued..................................................................
______________
of non-taxable income at least 5% of line z ......................................
______________
p.
Dividends (less Federal exclusion) ....................................................
______________
c.
All Income Taxes paid or accrued ....................................................
______________
q.
Unreimbursed travel expense (Fed. Form 2106
d.
Net operating loss deduction per Federal Return ..............................
______________
subject to 2% AGI reduction per Fed. sched. A): (see instruction 5)
______________
e.
Payments to partners (from Federal Form 1065) ..............................
______________
r.
Other income exempt from Walbridge Income Tax ..........................
______________
f.
Sick pay not included in line 1 above – page 1 ................................
______________
Explain ..............................................................................................
g.
Contributions in excess of 5% of Net Profits ....................................
______________
............................................................................................................
h.
Other ..................................................................................................
______________
............................................................................................................
m.
Total Additions (enter as line 3a Page 1) .......................................... $ ______________
z.
Total Deductions (enter as line 3b Page 1)........................................ $ ______________
a. Located
c. Walbridge Percentage
b. Located in
Schedule Y - BUSINESS ALLOCATION FORMULA
Everywhere
(b ÷ a)
Walbridge
Step 1.
Average value of Real & Tangible Property
$ __________________
$ __________________
xxxxxxxxxxxx
Gross Annual Rentals Multiplied by 8
__________________
__________________
xxxxxxxxxxxx
Total Step 1 ....................................................................................................................
__________________
__________________
__________%
Step 2.
Wages, Salaries, Etc., Paid..............................................................................................
__________________
__________________
__________%
Step 3.
Gross Receipts from Sales Made and / or Work or
Services Performed ....................................................................................................
__________________
__________________
__________%
Step 4.
Total Percentages ..............................................................................................................................................................
________________%
Step 5.
Average Percentage (Divide Total Percentages by Number of Percentages Used: Carry to Line 5b - Page 1) ........................................................
__________%
Schedule Z - PARTNERS’ OR SUB-S OWNERS’ DISTRIBUTIVE SHARES OF NET INCOME TO BE FILLED OUT BY PARTNERSHIP ENTITY ONLY
2. Distributive Share
of Each Partner or
Sub-S Owner Amount
1.
Name, Street Address and SS Number of Each Partner or Sub-S Owner
(a)
__________________________________________________________________________________________________________
$ ____________________
(b)
__________________________________________________________________________________________________________
____________________
(c)
__________________________________________________________________________________________________________
____________________
(d)
__________________________________________________________________________________________________________
____________________
Total
$ ______________________
INSTRUCTIONS
The net profits attributable to this municipality of a tax payer conducting a business,
SECTION C – OTHER TAXABLE INCOME – Line 3
profession or other activity both within and without the municipality shall be determined
List all the taxable income from Federal Schedules and / or 1099’s. You must attach ap-
under the separate accounting method or in accordance with the three factor Business Alloca-
propriate schedules.
tion Percentage Formula as provided in Section 718.02 of the Revised Code of Ohio, and in
accordance with the rules and regulations adopted by the Tax Administrator.
SCHEDULE X – RECONCILIATION WITH FEDERAL INCOME TAX RETURN
This schedule is to be used to adjust the Federal net income to the Walbridge taxable in-
If the instructions conflict with the ordinance, the wording in the
come. The total of the items listed in the left hand column (a thru h shown on Line m) are
added to the Federal net income. The total of the items listed in the right hand column (n thru
ordinance shall prevail.
s as shown on Line z) are to be deducted from the Federal net income.
SCHEDULE Y – BUSINESS ALLOCATION FORMULA
The business allocation percentage formula is to be used by corporations, unincorporated
businesses, partnerships, professions, or other entities doing business within and without this
municipality if actual records of their local business are not maintained.

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