2009 Net Profit License Tax Return - Georgetown/scott County Revenue Commission Page 4
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1
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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 I
COMPUTATION OF ADJUSTED NET PROFIT
FOR BUSINESS ENTITIES REQUIRED TO FILE INDIVIDUAL U.S. INCOME TAX RETURN
1)
Non-employee compensation as reported on Form 1099-Misc reported as
"Other Income" on Federal Form 1040 (Attach Page 1 of Form 1040 and
Form 1099)
2)
Net profit or (loss) per line 31 of the Federal Schedule C of Form 1040
(Attach Schedule C Pages 1 and 2)
3)
Gain or (loss) on sales of business property used in a trade or business from
Federal Form 4797 or Form 6252 reported on Schedule D of Form 1040
(Attach Form 4797 Pages 1 and 2 and/or Form 6252)
4)
Rental income or (loss) per Federal Schedule E of Form 1040
(See instructions)(Attach Schedule E)
5)
Net farm profit or (loss) per Federal Schedule F of Form 1040
(Attach Schedule F Pages 1 and 2)
6)
State income taxes and occupational license taxes based upon income
deducted on the Federal Schedule C, E, or F (Attach schedule)
7)
Total Income (Add lines 1 through 6)
8)
Alcoholic Beverage Sales Deduction (Worksheet X, Line 3)
9)
Local/other adjustments (Attach full explanation and schedule)
10)
Total adjustments (Add lines 8 and 9)
11)
Adjusted Net Profit (Subtract line 10 from line 7)
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 7 of Worksheet I
3)
Alcoholic Beverage Sales Deduction (multiply line 1 by line 2)
Enter here and on line 8 above
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