Form Gr-1120 - City Of Grayling Income Tax Corporation Return - 2004 Page 2
ADVERTISEMENT
1
2Located
Percentage
Located
II -- I . .
BUSINESS ALLOCATION FORMULA - SCHEDULE D
In Grayling II
Everywhere I
$
$
1.
Average net book value of real and tangible personal property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
a. Gross annual rentals of real property only multiplied by 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b. TOTAL (add Lines 1 and 1a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .%
2.
Total wages, salaries, commissions and other compensation of all employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .%
3.
Gross revenue from sales made or services rendered . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .%
4.
Total percentages - add the three percentages computed from Lines 1b, 2 and 3 which you entered in the
last column (you must compute a percentage for each of Lines 1b, 2 and 3) . . . . . . . . . . . . . . . . . . . . . . . . . . .
%
5.
Average percentage (one third of Line 4). Enter here and on Page 1, Line 10 . . . . . . . . . . . . . . . . . . . . . . . . . .
%
In determining the average percentage (Line 5), a factor shall be excluded from the computation only when such factor does not exist
anywhere insofar as the taxpayer’s business is concerned and in such cases, the sum of the percentages shall be divided by the num-
ber of factors actually used.
In the case of a taxpayer authorized by the Income Tax Administrator to use one of the special formulas, attach explanation and use the
lines provided below.
a. Numerator_________________________________________ b. Denominator__________________________________________
c. Percentage (a÷b)__________ Enter here and on Page 1, Line 10. d. Date of Finance Director approval letter__________________
SCHEDULE E
Schedule E is used to adjust the income reported on Page 1, Line 1 to give effect to the requirements of the Grayling Income Tax
Ordinance. The period of time used to compute items for Schedule E must be the same as the time period used to report income on
Line 1, on Page 1. Schedule E entries are allowed only to the extent directly related to net income as shown on Line 1, Page 1.
PERIOD
FROM__________________________________________ TO_________________________________________________________
COLUMN 1
COLUMN 2
Add - Items not Deductible
Deduct - Items not taxable and allowable
6. Dividends received from national and
1. Adjustment to income relating to
state bank stock
$. . . . . . . . . . . .
prior periods (See instructions)
$. . . . . . . . . . . .
7. Interest from governmental obligations
. . . . . . . . . . . . .
2. All expenses (including interest)
incurred in connection with derivation
8. Dividends received deduction (exclude
of income not subject to Grayling Income Tax. . . . . . . . . . .
dividends in Line 6 above)
. . . . . . . . . . . . .
3. Grayling Income Tax payed or accrued
. . . . . . . . . . . . .
9. Foreign tax credit
. . . . . . . . . . . . .
4. Other (submit schedule)
. . . . . . . . . . . . .
10. Other (submit schedule)
. . . . . . . . . . . . .
. . . . . . . . . . . . .
. . . . . . . . . . . . .
. . . . . . . . . . . . .
5. Total additions (enter on Page 1, Line 4)
. . . . . . . . . . . . .
11. Total Deductions (enter on Page 1, Line 6) . . . . . . . . . . . . .
GR-1120
4
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial