Form J1040 - Income Tax Individual Return - City Of Jackson - 2011 Page 3
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4J 1040
ATTACH THIS SCHEDULE TO YOUR J 1040
BUSINESS ALLOCATION FORMULA
Located
Located in
Percentage
SCHEDULE 3
Everywhere
Jackson
II ÷ I
To be used by non-residents only and must be
I
II
accompanied by a copy of your Federal Schedule "C".
1. Average net book value of real and tangible personal property.
$
$
1
a. Gross annual rent paid for real property only multiply by 8.
1a
b. TOTAL (add lines 1 and 1a)
%
1b
2. Total wages, salaries, commissions and other compensation of all
%
2
employees.
3. Gross receipts from sales made or services rendered.
%
3
4. Total percentages-add the three percentages computed for lines 1B,
2 and 3 which you entered in the last column.
%
4
5. Average percentage (one-third of line 4).
%
5
6. Profit or loss from schedule C, from Federal 1040.
$
6
7. City of Jackson business income - line 6 multiplied by line 5 (enter on
$
7
Page 2, schedule 2 NR, line C.
NOTE:
In determining the average percentage (line 5), a factor shall be excluded from the computation
only when it does not exist anywhere as far as the taxpayer's business operation is concerned.
In such cases, the sum of the percentages on line 4 shall be divided by the number of factors
actually used.
INSTRUCTIONS FOR BUSINESS ALLOCATION FORMULA
The business allocation percentage formula is to be
location (yields estimated value of such property). In
used by non-resident owners of businesses with busi-
Column II show the gross annual rentals multiplied by
ness activity both inside and outside the City of
8 for all rented real property located in the City of
Jackson who, because they do not maintain sufficient
Jackson.
records to accurately reflect the net profits from opera-
Line 2. Enter in Column I the total compensation paid
tions conducted in the City of Jackson or for other rea-
to all employees during the year and in Column II show
sons, are not using the separate accounting method.
the amount of compensation paid to employees for
Line 1. Enter in Column I the average net book value
work done or for services performed within the City of
of all real and tangible personal property owned by the
Jackson during the year.
business, regardless of location; and in Column II show
Line 3. Enter in Column I the total gross receipts form
the net book value of the real and tangible personal
all sales or services rendered during the year and in
property located in the City of Jackson. The average
Column II show the amount of receipts derived from
net book value of real and tangible personal property
sales made or services rendered in the City of Jackson
may be determined by adding the net book values at
during the year.
the beginning of the year and the net book values at
Line 4 and 5. Compute the percentages as indicated.
the end of the year and dividing this sum by two. Any
Line 6. Enter the amount of net profit (or loss) from
other method which will accurately reflect the average
your business or profession as computed on your
net book value for the year will also be permitted.
Federal 1040, Schedule C, line 21.
Line 1a. Enter in Column I the gross annual rentals
Line 7. Multiply the amount on line 6 by the percentage
multiplied by 8 for all rented real property regardless of
on line 5, and enter the result on Page 2 Schedule 2 NR,
line C.
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