State of Rhode Island and Providence Plantations
2016 Schedule S for RI-1120S
16110499990101
Excess Net Passive Income Tax Calculation
Name
Federal employer identification number
TO BE FILED WITH FORM RI-1120S
TO BE COMPLETED ONLY BY SUBCHAPTER S CORPORATIONS TAXABLE FOR FEDERAL PURPOSES AND REQUIRED TO COMPLETE
LINE 22A AND/OR 22B OF FEDERAL FORM 1120S
1
Excess net passive income from line 10 of Worksheet for line 22a of Federal 1120S ................................................
1
2
Taxable income from Federal Form 1120S, Schedule D, line 20.................................................................................
2
3
Taxable income. Add lines 1 and 2 .............................................................................................................................
3
_ . ______
4
Apportionment ratio (six (6) decimal places) from Form RI-1120S, Schedule I, line 5 ................................................
4
Rhode Island taxable income. Multiply line 3 by line 4 ...............................................................................................
5
6
TAX - 7%. Multiply line 5 by 7% (0.0700) and enter here ...........................................................................................
6
450 00
7
Minimum tax from Form RI-1120S...............................................................................................................................
7
8
TAX. Line 6 or line 7, whichever is larger. Enter here and on Form RI-1120S, page 1, line 7a.................................
8