Form 480.20 - Corporation Income Tax Return

Corporation - Page 2

Form 480.20

Rev. 04.13

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

(1)

Less: Cost of goods sold or direct costs of production

Inventory at the beginning of the year

1 "C"

2 "C" or "MV"

(a)

Materials .............................................................................................

(2a)

(b)

Goods in process .................................................................................

(2b)

Finished goods or merchandise ..............................................................

(c)

(2c)

Purchase of materials or merchandise .....................................................................

(3)

Direct wages .......................................................................................................

(4)

Other direct costs (Detail in Part VI) ........................................................................

(5)

Total cost of goods available for sale (Add lines 2 through 5)........................................

(6)

Less: Inventory at the end of the year

1 "C"

2 "C" or "MV"

(a)

Materials .....................................................

(7a)

(b)

Goods in process .........................................

(7b)

(c)

Finished goods or merchandise .......................

(7c)

Gross profit on sales or production (Subtract the result of line 6 less line 7, from line 1) ........................................................................

(8)

Net capital gain (Schedule D Corporation, Part IV, line 22) ...................................................................................................................

(9)

10.

Net gain (or loss) from the sale of property other than capital assets (Schedule D Corporation, Part VII, line 43) ........................................

(10)

11.

Rent .......................................................................................................................................................................................

(11)

12.

Interest ...................................................................................................................................................................................

(12)

13.

Income from services or commissions .........................................................................................................................................

(13)

14.

Dividends from corporations: (a) Domestic _____________________ (b) Foreign _______________________ .......................................

(14)

15.

Distributable share on net income from partnerships and special partnerships (Schedule R Corporation, Part II, line 14) ............................

(15)

16.

Taxable farming profit (Schedule S Corporation, Part I, line 9) ..........................................................................................................

(16)

17.

Freight and fares ......................................................................................................................................................................

(17)

18.

Miscellaneous income ...............................................................................................................................................................

(18)

19.

Total gross income (Add lines 8 through 18) ..............................................................................................................................

(19)

20.

Compensation to officers (See instructions for Part X) .................................................................................

(20)

21.

Salaries, commissions and bonuses to employees (Total $______________________) (See instructions) ..............

(21)

22.

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

(22)

23.

Social security tax (FICA) .....................................................................................................................

(23)

24.

Unemployment tax ...............................................................................................................................

(24)

25.

State Insurance Fund premiums ..............................................................................................................

(25)

26.

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

(26)

27.

Insurances ..........................................................................................................................................

(27)

28.

Interest (See instructions)........................................................................................................................

(28)

29.

Rent ...................................................................................................................................................

(29)

30.

Property tax: (a) Personal______________ (b) Real_______________ ........................................................

(30)

31.

Other taxes, patents and licenses (See instructions) .................................................................................

(31)

32.

Losses from fire, storm, other casualties or theft .......................................................................................

(32)

33.

Motor vehicle expenses (Mileage_________________________________) (See instructions) ..........................

(33)

34.

Other motor vehicle expenses (See instructions) ..........................................................................................

(34)

35.

Meal and entertainment expenses (Total _____________________) (See instructions) ....................................

(35)

36.

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

(36)

37.

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

(37)

38.

Contributions to pension or other qualified plans (See instructions. Submit Form AS 6042.1) .............................

(38)

39.

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

(39)

40.

Bad debts (See instructions) ..................................................................................................................

(40)

41.

Charitable contributions (See instructions) .................................................................................................

(41)

42.

Repairs (See instructions) .....................................................................................................................

(42)

43.

Deduction for employers who employ handicapped persons (See instructions) ..............................................

(43)

44.

Contributions to educational contribution accounts for the employees' beneficiaries (See instructions) ......................

(44)

45.

Other deductions (See instructions) .........................................................................................................

(45)

Total deductions (Add lines 20 through 45) ......................................................................................................................................

46.

(46)

Net operating income (or loss) for the year (Subtract line 46 from line 19. Enter here and in Part I, line 1) ..................................................

47.

(47)

Item

Amount

Item

Amount

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

(8)

Salaries, wages and bonuses ...........................

(1)

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

(9)