2009 Net Profit License Tax Return - Georgetown/scott County Revenue Commission Page 3
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1
2
3
4
5****IMPORTANT****
Federal ID # or
This Worksheet along with copies of all applicable federal forms and schedules MUST
Social Security #
be attached to the Net Profit License Tax Return.
WORKSHEET C
COMPUTATION OF ADJUSTED NET PROFIT
FOR BUSINESS ENTITIES REQUIRED TO FILE U.S. CORPORATE INCOME TAX RETURN
1)
Taxable income or (loss) per Federal Form 1120 or 1120A or Ordinary income
or (loss) per Federal Form 1120S (Attach the applicable 1120 or 1120A,
Pages 1 and 2 or 1120S Pages 1, 2 and 3, Schedule of Other Deductions
and rental schedule(s), if applicable)
2)
State income taxes and occupational taxes based on income deducted
on the Federal Form 1120, 1120A or 1120S (Attach schedule)
3)
Net operating loss deducted on Form 1120
4)
Additions from Schedule K of Form 1120S (See instructions) (Attach
Schedule K of Form 1120S and rental schedule(s), if applicable)
5)
Total Income (Add lines 1 through 4)
6)
Subtractions from Schedule K of Form 1120S (See instructions) (Attach
Schedule K of Form 1120S and rental schedule(s), if applicable)
7)
Alcoholic Beverage Sales Deduction (Worksheet X, Line 3)
8)
Local/other adjustments (Attach full explanation and schedule)
9)
Total adjustments (Add lines 6 through 8)
10)
Adjusted Net Profit (Subtract line 9 from line 5)
Enter here and on line 1 of the Net Profit License Tax Return
WORKSHEET X: ALCOHOLIC BEVERAGE SALES DEDUCTION
Kentucky Alcoholic Beverage Sales
1)
DIVIDE→
%
Total sales
2)
Enter "Total Income" from line 5 of Worksheet C
3)
Alcoholic Beverage Sales Deduction (multiply line 1 by line 2)
Enter here and on line 7 above
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