Business Income Tax Return Form - City Of Troy Income Tax Division Page 2
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2BUSINESS INCOME TAX RETURN—CITY OF TROY INCOME TAX DIVISION (page 2)
Questions regarding Schedule X and Schedule Y? Refer to Ohio Revised Code Section 718 for assistance. In preparing your City of Troy Business Income Tax Return,
you must arrive at “Adjusted Federal Taxable Income” as outlined in ORC 718.01. Refer to ORC 718.02 for instructions regarding Business Apportionment Formula.
SCHEDULE X—RECONCILIATION WITH FEDERAL INCOME TAX RETURN
ITEMS NOT DEDUCTIBLE
ADD
ITEMS NOT TAXABLE
DEDUCT
a. Capital Losses and 1231 losses……………………………………….._________________
n. Capital Gains (Do not include ordinary gains from
b. Interest and/or other expenses incurred in the production of
Federal Form 4797)……………………………………..________________
non-taxable income (at least 5% of line z, not including line n)……._________________
o. Interest earned or accrued……………………………….________________
c. Taxes on net income deducted to compute federal taxable income….._________________
p. Dividends (less Federal exclusion)………………………________________
d. Guaranteed payments to partners and retired partners…………………________________
q. Other items not taxable (full explanation required)
e. Net operating loss deduction per Federal return……………………….________________
_________________________________...........________________
f. Payments to Self-Employed Retirement plans, health insurance and
_________________________________...........________________
life insurance payments to owners or owner-employees………………________________
_________________________________...........________________
g. Distributions to investors of REIT Real Estate Investment Trusts…….________________
_________________________________...........________________
h. Other items not deductible (full explanation required)………………...________________
r. Royalties (intangible)…………………………..…..........________________
_________________________________________ ___................________________
z. TOTAL DEDUCTIONS………………………………...________________
____________________________________________.................________________
I. Contributions in excess of Federal Limit……………………................_________________
m. TOTAL ADDITIONS………………………………………...……….________________
SCHEDULE Y—BUSINESS APPORTIONMENT FORMULA
The business apportionment formula is to be used only in the absence of books and records
which will disclose within reasonable accuracy that portion of the net profits which is
A. LOCATED EVERYWHERE
B. LOCATED IN TROY
C. PERCENTAGE (B + A)
attributable to that part of the business within Troy.
STEP 1. Average value of real and tangible personal property…………………………………….$___________________________
$____________________________
Gross annual rents multiplied by 8……………………………………………………….$____________________________
$______________________________
Total Step 1……………………………………………………………………………….$____________________________
$______________________________
__________________________%
STEP 2. Gross receipts from sales and work or services performed ………………………………$____________________________
$______________________________
__________________________%
STEP 3. Total wages, salaries, commissions, and other compensation of all employees…………$_____________________________
$______________________________
__________________________%
STEP 4. Total percentages…………………………………………………………………………
__________________________%
ACCOUNT INFORMATION UPDATE QUESTIONNAIRE
Please complete all questions fully. The information below will be used to update information currently on file.
BUSINESS NAME (Trade name if different from front of return):__________________________________________________________________________
NATURE OF BUSINESS:_________________________________________________________________________________________________________
TROY LOCATION (If different from address shown on front of return):____________________________________________________________________
PHONE NUMBER (Corporate):_______________________________________ PHONE NUMBER (Troy location):_______________________________
DATE EMPLOYEES BEGAN WORKING IN TROY:_______________
NUMBER OF EMPLOYEES WORKING IN TROY:_____________________
(Reminder: Employee withholding is required. An Annual Reconciliation of Returns is due by Feb 28th of each year.)
ACCOUNTING PERIOD:
_________
Calendar Year
_________
Fiscal Year
(Month ending__________________)
NAME AND ADDRESS OF PARTY IN CHARGE OF BOOKS:
_______________________________________________________________________________________________________________________
PHONE NUMBER OF PARTY IN CHARGE OF BOOKS:_______________________________________________________________________
DO YOU USE SUBCONTRACT LABOR IN TROY?______________________
(If yes, copies of 1099 forms due by Feb 28th of each year)
DO YOU LEASE EMPLOYEES? ________________ (If yes, provide name, address, phone number and federal identification number of leasing agent:
_______________________________________________________________________________________________________________________
_______________________________________________________________________________________________________________________
COMPLETED BY:
_____________________________________________________
______________________________________
__________________________
SIGNATURE
TITLE
DATE
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