Form Ri - 1065 General Instructions For 2002 Partnership Income Information Return

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FORM RI - 1065 GENERAL INSTRUCTIONS
FOR 2002 PARTNERSHIP INCOME INFORMATION RETURN
WHO MUST FILE
your return to the Division of Taxation, One
TECHNICAL ASSISTANCE
Capitol Hill, Providence, Rhode Island 02908-
Every partnership having any income
If you have any questions regarding the
5806.
derived from sources in Rhode Island must
preparation of the return, assistance may be
file a RI-1065 return for the taxable year. No
obtained at the Division of Taxation, One
WHOLE DOLLAR AMOUNTS
tax is imposed on a partnership, but each
Capitol Hill, Providence, Rhode Island
partner is required to include in his or her
02908-5806.
The money items may be shown as whole
Rhode Island individual income tax return
dollar amounts. Any amount under 50 cents
his or her distributive share of the partner-
SIGNATURE
may be eliminated and any amounts 50 cents
ship net income for the partnership taxable
through 99 cents increased to the next high-
year. The entire distributive share of the
A partner must sign the Rhode Island
est dollar.
partnership net income is taxed to the part-
Partnership Form RI-1065. Any person who
ner whether or not such income is actually
prepares a return must also sign. If the return
REPORT OF CHANGE IN FEDERAL
distributed.
is prepared by a firm or corporation it should
TAXABLE INCOME
be signed in the name of the firm or corpora-
PERIOD COVERED BY THE RETURN
tion.
If the amount of the federal taxable income
The partnership taxable year shall be the
is changed or corrected by the federal gov-
WHERE TO GET FORMS
same as the federal taxable year.
ernment the partnership must report to the
Rhode Island Division of Taxation such
Form RI-1065 and instructions may be
WHEN AND WHERE TO FILE
change or correction within 90 days after the
obtained from the Division of Taxation.
final determination is made. Any partnership
The return should be filed on or before the
filing an amended income tax return must also
15th day of the fourth month following the
file within 90 days thereafter an amended
close of the partnership taxable year. Mail
Rhode Island return.
SPECIFIC INSTRUCTIONS
Print or type the required information in the
Rhode Island. For example, interest from City
example--Treasury notes and bills, Federal
address box at the top of Page 1. Enter the
of New York bonds while exempt from federal
home loan bank, Federal land banks, etc.
federal identification number in the space pro-
taxation is taxable by Rhode Island. However,
vided to the right of the address box--Rhode
interest from Rhode Island (or a political sub-
Line 3a. & Line 3b.
Island does not have its own identification
division thereof) bonds is exempt from the
number.
Rhode Island income tax, as well as federal.
If the partnership derives income from R.I.
sources and has nonresident partners you
Line 1.
Line 2.
should check the yes block(s) and complete
Schedule B.
You should check the yes block and complete
You should check the yes block and complete
Schedules A and B if the partnership had
Schedules A and B if the partnership had
NOTE:
income exempt from federal income tax but
income exempt from the Rhode Island income
taxable by Rhode Island law. Such income
tax, but taxable by federal law. Such income
If answers to all four questions in this part are
would be income from obligations of states
would consist of income from direct obliga-
no, it will not be necessary to complete
and their political subdivisions, other than
tions of the United States Government. For
Schedules A and B.
SCHEDULE A INSTRUCTIONS
Line 4.
Line 5.
Line 6.
Enter the combined net amount of Lines 4 and
Enter the net income exempt from federal
Enter the net income subject to federal
5. (Addition or deduction).
Income tax but taxable by Rhode Island law.
Income tax but exempt by Rhode Island law.
(Refer to RI-1040 Individual Income Tax Form
(Refer to RI-1040 Individual Income Tax Form
and instructions for a complete listing of mod-
and instructions for a complete listing of mod-
ifications increasing federal taxable income).
ifications decreasing federal taxable income).
SCHEDULE B INSTRUCTIONS
Line 7.
Line 9.
Line 11.
Enter only the income from Rhode Island
Enter the names and addresses of all part-
Check if the partner shown on the corre-
sources, and only for the nonresidents listed.
ners, both resident and nonresident.
sponding line is a nonresident.
NOTE:
Line 8.
Line 10.
If necessary, attach additional listings for
Enter the social security number of each part-
Enter the partner’s share of the net adjust-
Schedule B, being sure to give the same in-
formation as required on the return.
ner listed.
ment shown on Line 6, Schedule A.

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