Form 3805z - Enterprise Zone Deduction And Credit Summary - 1998 Page 7
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10Nonresidents that have an apportioning business
period for which the wages entered on line 1
capital gains and losses from Schedule D and
that operates within the zone should have
were earned) that they worked within the enter-
business gains and losses from Schedule D-1.
already computed Schedule R, and can use
prise zone. This percentage must be determined
Line 14 – If you are computing the enterprise
those amounts when that schedule is referenced.
based on their record of time and events such as
zone NOL and the result on the Income or Loss
Residents that have an apportioning business will
a travel log or entries in a daily planner.
Worksheet, line 14, column (c) is a negative
not have completed a Schedule R for California
amount, enter this amount on Worksheet VI,
Part II Pass-through Income or
income tax purposes since they are taxed on
Section A, line 1. Note: If the amount is positive,
Loss
income from all sources. However, in order for
you do not have an enterprise zone NOL.
residents to determine their California source
Multiple Pass-through Entities
If you are computing the enterprise zone busi-
business income for purposes of the enterprise
If you are a shareholder, beneficiary, partner or
ness income and the result on the Income or
zone calculation, they must complete a
member in multiple pass-through entities with
Loss Worksheet, line 14, column (c) is a positive
Schedule R also.
businesses located within and outside an enter-
amount and:
Line 11 – Line 12: If the gain or loss reported on
•
prise zone from which you received enterprise
You have NOL carryovers, enter the amount
Schedule D or Schedule D-1 (as adjusted on
zone incentives, see the example below for com-
on Worksheet VI, Section C, line 1 and line 6
Schedule CA (540 or 540NR)) was attributed to
puting business income in the enterprise zone.
(skip line 2 through line 5). Also enter the
an asset used in an activity conducted within and
Trade or
amount from the Income or Loss Worksheet,
business
outside the enterprise zone and California, get
line 14, column (c) on Worksheet VII, Part I,
income
Schedule R and complete Schedule R-1. Multiply
from
Entity’s
Enterprise
line 1 and line 3 (skip line 2) if you have
the gain or loss reported by the percentage on
Schedule K-1
enterprise zone
zone
enterprise zone credits; or
Schedule R-1, line 4 and enter the result in col-
Pass-through
(100S, 541,
apportionment
apportioned
•
You do not have NOL carryovers but you do
entity
565 or 568)
percentage
income
umn (a). To determine the percentage figure in
have credits or credit carryovers, enter the
column (b), complete Worksheet V, Section A.
ABC, Inc.
$40,000
80%
$32,000
amount on Worksheet VII, Part I, line 1 and
A, B & C
30,000
10%
3,000
Enter the figure on Worksheet V, Section A,
line 3 (skip line 2).
ABC, LLC
10,000
50%
5,000
line 4 in column (b) of this worksheet.
$40,000
Note: If the amount is negative, you do not have
Part I Individual Income and
any business income attributed to the enterprise
Part III Taxpayer’s Trade or
Expense Items
zone and you cannot utilize any enterprise zone
Business
NOL carryover, credit(s) or credit carryover(s) in
Wages
the current taxable or income year.
Business Income or Loss
Taxpayers with wages from a company located
Use business income or loss from Form 1040
within and outside an enterprise zone must
Schedules C, C-EZ, E and F, plus California
determine the enterprise zone wage income by
adjustments from Schedule CA (540 or 540NR)
entering the percentage of their time (during the
for each trade or business. Also include business
Income or Loss Worksheet — Enterprise Zones
Part I
Individual Income and Expense Items (see instructions)
(a)
(b)
(c)
Amount
% of time providing services in
Apportioned amount
the enterprise zone
(a) x (b)
1 Wages . . . . . . . . . . . . . . . . . . .
2 Employee business expenses . . . . . .
3 Subtotal: Enter the total of line 1, column (c) and line 2, column (c) in column (c), this line. . . . . . . . . . . . . .
Part II
Pass-through Income or Loss (see instructions)
(a)
(b)
Name of entity
Distributive or pro rata share of business income or loss apportioned to the
enterprise zone from Schedule(s) K-1 (100S, 541, 565 or 568) including capital
gains and losses
4
5 Subtotal: Enter the total of line 4, column (b) in column (b), this line . . . . .
Part III
Taxpayer’s Trade or Business (see instructions)
(a)
(b)
(c)
Business income or loss
Apportionment %
Apportioned income or loss
for the enterprise zone
(a) x (b)
6 Schedule C or C-EZ. . . . . . . . . . . .
7 Schedule E (Rentals) . . . . . . . . . . .
8 Schedule F. . . . . . . . . . . . . . . . .
9 Other business income or loss . . . . . .
10 Subtotal: Enter the total of line 6 through line 9, column (c) in column (c), this line . . . . . . . . . . . . . . . . . .
(a)
(b)
(c)
Business gain
Apportionment %
Apportioned income or loss
or loss
for the enterprise zone
(a) x (b)
11 Schedule D. . . . . . . . . . . . . . . . .
12 Schedule D-1 . . . . . . . . . . . . . . .
13 Subtotal: Enter the total of line 11, column (c) and line 12, column (c) in column (c), this line . . . . . . . . . . . .
14 Total: Enter the total of column (c) for line 3, line 10 and line 13, and line 5, column (b) in column (c), this line . .
Page 14 FTB 3805Z Booklet 1998
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