Form 100s - California S Corporation Franchise Or Income Tax Return - 1998 Page 2
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1
2
3
4Schedule F
Computation of Trade or Business Income. See General Information I.
1 a) Gross receipts or sales
b) Less returns and allowances
Balance
1c
2 Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3 Gross profit. Subtract line 2 from line 1c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
Income
4 Net gain (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
•
5 Other income (loss). Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
6 Total income (loss). Combine line 3 through line 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
7 Compensation of officers. Attach schedule. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
•
8 Salaries and wages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
9 Repairs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
10 Bad debts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10
•
11 Rents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
12 Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
Deduc-
13 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13
tions
•
14 a) Depreciation
b) Less depreciation reported elsewhere on return
Balance
14
15 Depletion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15
16 Advertising . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16
17 Pension, profit-sharing, etc. plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17
18 Employee benefit programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18
19 a) Total travel and entertainment
b) Deductible amount . . . . . . . . . . . .
19b
•
20 Other deductions. Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20
•
21 Total deductions. Add line 7 through line 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21
•
22 Ordinary income (loss) from trade or business. Subtract line 21 from line 6. Enter here and on Side 1, line 1
22
Schedule V
Cost of Goods Sold
1 Inventory at beginning of year . . . . . . . . . . .
5 Other costs. Attach schedule . . . . . . . . . . .
•
2 Purchases . . . . . . . . . . . . . . . . . . .
6 Total. Add line 1 through line 5. . . . . . . . . .
•
3 Cost of labor . . . . . . . . . . . . . . . . .
7 Inventory at end of year. . . . . . . . . . . . . .
•
•
4 Other IRC Sec. 263A costs. Attach schedule
8 Cost of goods sold. Subtract line 7 from line 6
Was there any substantial change in the manner of determining quantities, costs or valuations between opening and closing inventory? . . .
Yes
No
If ‘‘Yes,’’ attach an explanation. Enter California seller’s permit number, if any
Method of inventory valuation
•
Check if the LIFO inventory method was adopted this income year for any goods. If checked, attach federal Form 970 . . . . . . . . . . . . . . . . .
•
If the LIFO inventory method was used for this income year, enter the amount of closing inventory computed under LIFO . . . . . . . . .
Do the rules of IRC Section 263A (with respect to property produced or acquired for resale) apply to the corporation? . . . . . . . . . . . .
Yes
No
Schedule J
Add-On Taxes or Recapture of Tax Credits. See instructions.
•
1 LIFO recapture due to S corporation election (IRC Sec. 1363(d) deferral: $
) . . . . . . . . . . . .
1
•
2 Interest computed under the look-back method for completed long-term contracts (attach FTB 3834) . . . . . . . . . .
2
•
3 Interest on tax attributable to installment: a) Sales of certain timeshares and residential lots . . . . . . . . . . . . . .
3a
•
b) Method for nondealer installment obligations . . . . . . . . . . . . . . .
3b
•
4 IRC Section 197(f)(9)(B)(ii) election . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
•
5 Credit recapture name:
. . . . . . . . . . . .
5
6 Combine line 1 through line 5. Revise the amount on Side 1, line 38 or line 39, whichever applies, by this amount.
•
Write ‘‘Schedule J’’ to the left of line 38 or line 39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
•
•
E Check here if the corporation does not need tax forms mailed next year
K Effective date of California S election:
•
•
F
L Accounting method:
(1)
Cash (2)
Accrual (3)
Other
Date incorporated:
Where: State
Country
M Location of principal accounting records:
•
G Maximum number of shareholders in the corporation at any time during
•
N ‘‘Doing business as’’ name:
the year:
O Have all required information returns (e.g., federal Form 1099,
H Date business began in California or date income was first derived from
•
8300, etc.) been filed with the Franchise Tax Board? .
N/A
Yes
No
California sources:
P Is this corporation apportioning income to California using
•
I
Is the corporation under audit by the IRS or has
•
Schedule R? . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
it been audited in a prior year? . . . . . . . . . . . . . . .
Yes
No
Q During the income year, were gross receipts (less returns and
•
•
J Effective date of federal S election:
allowances) of this corporation more than $1 million? . . . .
Yes
No
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
Please
correct and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Sign
Signature of officer
Date
Telephone
Title
Here
(
)
Preparer’s signature
Date
Preparer’s SSN / FEIN
Check if self-
employed
Paid
Telephone
FEIN
Firm’s name
Preparer’s
(or yours, if
(
)
Use Only
self-employed)
and address
100S98209
Side 2 Form 100S
1998
C1
For Privacy Act Notice, get form FTB 1131.
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