Form Ri-1040c - Rhode Island Composite Income Tax Return - 2007
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11RI-1040C
2007
RHODE ISLAND COMPOSITE INCOME TAX RETURN
Name
Entity Type
Address Line 1
Sub S Corporation
LLC
Address Line 2
Partnership
City, Town or Post Office
State
Zip Code
Trust
Federal Identification Number
YEAR END
Calendar Year: January 1, 2007 through December 31, 2007
Fiscal Year: beginning _______, 2007 through ________, 20___.
SECTION A:
COMPUTATION OF INCOME
1.
Total Federal Taxable income - From Federal Form 1120S, line 21; Federal Form 1065, line 22 or Federal Form 1041, line 18, plus
1.
any separately stated income or deduction items listed on K-1...............................................................................................................
2.
MODIFICATIONS INCREASING FEDERAL TAXABLE INCOME
A. Income from obligations of any state or its political subdivisions, other than RI (attach documentation)..
2A.
B. Bonus Depreciation and Section 179 Depreciation..................................................................................
2B.
C. Other modifications (attach documentation).............................................................................................
2C.
3.
Total modifications INCREASING Federal Taxable Income - Add lines 2A, 2B and 2C..........................................................................
3.
4.
MODIFICATIONS DECREASING FEDERAL TAXABLE INCOME
A. Income from obligations of the US government included in federal income but exempt from state
4A.
income taxes (attach documentation).......................................................................................................
B. Bonus Depreciation and Section 179 Depreciation..................................................................................
4B.
C.
Other modifications (attach documentation).............................................................................................
4C.
5.
Total modifications DECREASING Federal Taxable Income - Add lines 4A, 4B and 4C.........................................................................
5.
6.
Modified Federal Taxable Income - line 1 plus line 3 less line 5..............................................................................................................
6.
_ . _ _ _ _
7.
Rhode Island apportionment ratio from page 2, Section C, line 31 (multistate entities only - entities solely in RI enter 1.0000)..............
7.
8.
Rhode Island source income multiply line 6 by line 7..............................................................................................................................
8.
SECTION B:
COMPUTATION OF TAX
9.
9.
Rhode Island income tax using the COMPOSITE INCOME TAX RATE - Multiply line 8 by 9.9% (0.099)..............................................
10.
10.
Rhode Island credits - indicate credit form number(s) _____________________ attach forms..............................................................
11. Rhode Island income tax after credits - subtract line 10 from line 9
(not less than
zero).....................................................................
11.
12.
Rhode Island income tax using the Alternative FLAT TAX RATE- Multiply line 8 by 7.5% (0.075).........................................................
12.
13.
RHODE ISLAND INCOME TAX - line 11 or line 12,
whichever is
smaller..
13.
Check box if Alternative Flat Tax method is used
_ . _ _ _ _
Qualified electing nonresident members’ percent of ownership (if all such members are nonresidents enter 1.0000)........................... 14.
14.
Rhode Island income tax of qualified electing nonresident members - multiply line 13 by line 14...........................................................
15.
15.
16.
Rhode Island estimated payments made on RI 1040C-ES and amount applied from 2006 composite return.
16.
Check
if
extension is
Rhode Island nonresident real estate withholding of qualified electing nonresident members.......................
17.
17.
attached.
18.
RI nonresident withholding received from pass-through entities from RI 1099-PT - attach form(s)................
18.
19.
19.
Other payments................................................................................................................................................
Total payments - Add lines 16, 17, 18 and 19...........................................................................................................................................
20.
20.
21.
AMOUNT DUE - If line 15 is LARGER than line 20, subtract line 20 from line 15.................................................................................
21.
22.
22.
Underestimating interest due. If RI-2210C is prepared, check box
and attach RI-2210C to the return............................................
23.
TOTAL AMOUNT DUE - Add lines 21 and 22. Complete RI 1040C-V..........................................................................................
23.
☺
24.
24.
OVERPAYMENT - If line 15 is SMALLER than line 20, subtract line 15 from line 20. This is the amount you overpaid.............
25.
25. Amount of overpayment to be refunded....................................................................................................................................................
26. Amount of overpayment to be applied to 2008 RI-1040C estimated tax........................................................
26.
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