Schedule N Incentives - Attachment To The Form 480.30(Ii) - Partially Exempt Income Under Act 8 Of 1987 - 2003

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Schedule N
Incentives
PARTIALLY EXEMPT INCOME
Rev. 05.03
200__
UNDER ACT 8 OF 1987
To be filed with Form 480.30(II)
Taxable year beginning on ______________, ____ and ending on ______________, ____
Name
Employer's Identification Number
Type of Business
Case Number
Effective period for income:
Number of jobs directly related with manufacture or designated service:
Current: ________________
Begins: ___________________
Ends: ___________________
Required: _______________
Part I
Net Income Subject to Tax
00
1.
Net operating income (or loss) for the year (Part IV, line 39) ............................................................................................
(1)
00
2.
Less: Income from investments (See instructions) .............................................................................................................
(2)
3.
Net industrial development income (Subtract line 2 from line 1. If it is a net operating loss, do not continue. Enter zero
00
(-0-) here and on line 10) ....................................................................................................................................................
(3)
4.
Net operating loss from the preceding year (See instructions. Submit detail) ....................................................................
(4)
00
00
5.
Net industrial development income subject to special deductions (Subtract line 4 from line 3) .........................................
(5)
6.
Special deductions for exempt business:
a) Payroll deduction (See instructions Schedule N1 Incentives) ..............................................
(6a)
00
(6b)
b) Human resources training and improvement expenses deduction ........................................
00
(6c)
c) Research and development expense deduction ....................................................................
00
(6d)
d) Investment on buildings, structures, machinery and equipment deduction ..........................
00
00
e) Total deductions .........................................................................................................................................................
(6e)
7.
Net taxable industrial development income (Subtract line 6(e) from line 5. If it is a net operating loss, do not continue. Enter zero here
00
and on line 10) ....................................................................................................................................................................
(7)
Basis period income under Act 135 (Schedule V Incentives, Part II, line 4(a)) ............................................................
00
8.
(8)
9.
Exempt amount:
%
00
(a)
of line 7 (See instructions) ........................................................................
(9a)
00
(b)
of line 8 if it is a renegotiated case under Act 135 .....................................
(9b)
%
10.
Net income subject to tax (Subtract line 9(a) from line 7 or line 9(b) from line 8, whichever applies. Enter here and on
Schedule K Incentives, Part I, line 1(c)) ............................................................................................................................
00
(10)
Part II
Special Surtax Section 3(a) of Act 8 of 1987 (See instructions)
00
(1)
1.
Enter the amount of Part III, line 14 (If it is larger than $1,000,000).....................................................
00
2.
Enter the amount of Part III, lines 1, 9 and 10, whichever apply ....................................................
(2)
00
(3)
3.
Multiply line 2 by .00075 .....................................................................................................................
00
4.
Net industrial development income (Part I, subtract line 4 from line 3) ..........................................
(4)
00
5.
Multiply line 4 by .005 ............................................................................................................................................................
(5)
6.
Special surtax (Enter here and on Form 480.30(II), Part I, line 9, the smaller of line 3 or 5. In case of decrees renegotiated under Act 135 of
1997, enter the average special surtax paid on the years corresponding to the basis period) ...........................................................................
(6)
00
Conservation Period: Ten (10) years

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