Form N-70np - Exempt Organization Business Income Tax Return - 2006 Page 2
ADVERTISEMENT
1
2FORM N-70NP
(REV. 2006)
Page 2
TAX COMPUTATION SCHEDULE
— Corporations
PART I
1
Enter the amount of unrelated business taxable income as shown on page 1, line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
2
Enter the total of other deductions (see instructions, attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3
Difference — line 1 minus line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
4
Hawaii additions to income (see instructions, attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
5
Sum of lines 3 and 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
6
Enter the amount of taxable net capital gain as shown on page 1, line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
7
Difference — line 5 minus line 6 (if less than zero, enter zero) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
8
(a) Tax on net capital gain — 4% of amount on line 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8(a)
(b) Tax on all other taxable income — If amount on line 7 is:
(i)
Not over $25,000 — Enter 4.4% of line 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8(b)(i)
(ii)
Over $25,000 but not over $100,000 — Enter 5.4%
of line 7 $
. Subtract $250 and enter difference. . . . . . . . . . . . . . . . . . . . . . . . . . 8(b)(ii)
(iii) Over $100,000 — Enter 6.4%
of line 7 $
. Subtract $1,250 and enter difference . . . . . . . . . . . . . . . . . . . . . . . . 8(b)(iii)
(c) Total of lines 8(a) and 8(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8(c)
(d) Using the rates listed on line 8(b), compute tax on unrelated business taxable income as shown on line 3. . . . . . . . . . .
8(d)
9
Total tax (enter lesser of amount on line 8(c) or 8(d)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
Also, enter this amount on page 1, line 9.
— Charitable Trusts
PART II
1
Unrelated business taxable income (page 1, line 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
2
Enter the total of other deductions (see instructions, attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3
Difference — line 1 minus line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
4
Hawaii additions to income (see instructions, attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
5
Sum of lines 3 and 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
6
Net cap. gain taxable to the trust. Enter the smaller of line 16 or 17, col. (b), Sch. D (N-40) . . . . . . . . . . . . . . . . . . . . . . . . . .
6
7
Difference — line 5 minus line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
8
Enter the greater of line 6 or $20,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
9
Tax on amount on line 8. If line 8 is $20,000, enter $1,128.00 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
10
Difference — line 3 minus line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10
11
Multiply the amount on line 10 by 7.25% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
12
Tax. Add lines 9 and 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
13
Tax on amount on line 3 above . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13
14
Enter the lesser of line 12 or line 13 here and on page 1, line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14
TRUST TAX RATES FOR PERIODS AFTER 12/31/01
If the taxable income is:
The tax shall be:
Not over $2,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.4% of taxable income
Over $2,000 but not over $4,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $28.00 plus 3.20% of excess over $2,000
Over $4,000 but not over $8,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $92.00 plus 5.50% of excess over $4,000
Over $8,000 but not over $12,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $312.00 plus 6.40% of excess over $8,000
Over $12,000 but not over $16,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $568.00 plus 6.80% of excess over $12,000
Over $16,000 but not over $20,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $840.00 plus 7.20% of excess over $16,000
Over $20,000 but not over $30,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,128.00 plus 7.60% of excess over $20,000
Over $30,000 but not over $40,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,888.00 plus 7.90% of excess over $30,000
Over $40,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,678.00 plus 8.25% of excess over $40,000
FORM N-70NP
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial