Schedule K Individual - Industry Or Business Income

Schedule K Individual

Rev. 05.02

INDUSTRY OR BUSINESS INCOME

200__

Taxable year beginning on ______________________, ______ and ending on ______________________, ______

Taxpayer's name

Social Security Number

Part I

Questionnaire

Date operations began:

65

Day____ / Month____ / Year____

Industry or Business Income (check one):

Check here if this is your

Employer's Identification Number

principal industry or

Taxpayer

Spouse

Fully Taxable

;

(01)

;

;

;

business

1

2

Tax Incentives under:

Case or concession number

;

Location of Industry or Business - Number, Street and City

Act No. 26 of 1978

(02)

;

Act No. 8 of 1987

(03)

;

Act No. 148 of 1988

(04)

Number of employees

;

Act No. 78 of 1993

(05)

;

Act No. 75 of 1995

(06)

;

Act No. 14 of 1996

(07)

Nature of industry or business (i.e. hotel, rent of equipment, etc.)

Industrial Code

Code

;

Act No. 135 of 1997

(08)

;

Act No. 362 of 1999

(09)

;

Act No. 178 of 2000

(10)

Part II

Determination of Gain or Loss

71

0 0

1.

Net sales ......................................................................................................................................................................

(01)

2.

Cost of goods sold or direct costs of production:

00

a)

Beginning inventory ................................................................................................

(02)

00

b)

Plus: Purchases ........................................................................................................

(03)

00

c)

Direct salaries ..........................................................................................................

(04)

00

d)

Other direct costs ....................................................................................................

(05)

00

Total (Add lines 2(a) through 2(d)) .......................................................................

e)

(06)

00

f)

Less: Ending inventory ...........................................................................................

(07)

0 0

g)

TOTAL COST OF GOODS SOLD (Subtract line 2(f) from line 2(e)) ..........................................................

(08)

0 0

3.

Gross income (Subtract line 2(g) from line 1)...........................................................................................................

(09)

0 0

Less: Operating expenses and other costs (Detail in Part III)..................................................................................

4.

(10)

0 0

5.

Net income ..................................................................................................................................................................

(11)

0 0

Less: Net operating loss from previous years (Submit schedule, see instructions) .........................................

6.

(12)

0 0

7.

Adjusted net income ...................................................................................................................................................

(13)

0 0

Less: Exempt amount

%

8.

of line 7 (See instructions)......................................................................

(14)

Gain (or loss) (If it is a gain determined under provisions not considered under Act No. 135 of 1997 or Act

9.

0 0

362 of 1999, transfer the amount to page 1, Part II, line 2L of the return. If it is a loss, see instructions) ..................

(15)

;

10.

Special Tax Rate: Net income from Film Projects or Infrastructure Projects

7%; Business with exemption

;

;

;

;

;

decree under Act 135 of 1997

10%

7%

4%

2%

Other _____ % (Multiply line 9 by

0 0

the corresponding %. Transfer to page 2, Part 4, line 24 of the return) (See instructions) .....................................

(20)

Part III

Operating Expenses and Other Costs

81

(01)

00

1.

Salaries, commissions and allowances to employees .....................................................................................................

00

(02)

2.

Commissions to businesses ............................................................................................................................................

00

(03)

3.

Payroll expenses ..............................................................................................................................................................

00

(04)

4.

Contributions to pension plans ..........................................................................................................................................

00

(05)

5.

Contributions to deferred income plans ............................................................................................................................

00

(06)

6.

Medical or hospitalization insurance .................................................................................................................................

00

(07)

7.

Interest on business debts ...............................................................................................................................................

00

(08)

8.

Rent paid ...........................................................................................................................................................................

00

(09)

9.

Property taxes ..................................................................................................................................................................

00

(10)

10.

Other taxes, patents and licenses ....................................................................................................................................

00

(11)

11.

Repairs ..............................................................................................................................................................................

00

(12)

12.

Motor vehicles expenses ..................................................................................................................................................

00

(13)

13.

Utilities ...............................................................................................................................................................................

00

(14)

14.

Insurance ..........................................................................................................................................................................

00

(15)

15.

Advertising ........................................................................................................................................................................

00

(16)

16.

Travel expenses ...............................................................................................................................................................

00

(17)

17.

Meal and entertainment expenses (Total expenses $_______________) (See instructions) ........................................

00

(18)

18.

Professional services........................................................................................................................................................

00

(19)

19.

Materials and supplies ......................................................................................................................................................

00

(20)

20.

Depreciation and amortization (Submit Schedule E) ........................................................................................................

00

(21)

21.

Bad debts ..........................................................................................................................................................................

00

(22)

22.

Other expenses (Submit detailed schedule) ....................................................................................................................

00

Total (Transfer to Part II, line 4 of this Schedule) ...........................................................................................................

(30)

23.

Conservation Period: Ten (10) years