2009 Net Profit License Tax Return - Georgetown/scott County Revenue Commission Page 5
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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 P
COMPUTATION OF ADJUSTED NET PROFIT
FOR BUSINESS ENTITIES REQUIRED TO FILE U.S. RETURN OF PARTNERSHIP INCOME TAX RETURN
1)
Ordinary income or (loss) per Federal Form 1065 (Attach Form 1065,
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 1065 (Attach schedule)
3)
Additions from Schedule K of Form 1065 (See instructions) (Attach
Schedule K of Form 1065 and rental schedule(s), if applicable)
4)
Total income (Add lines 1 through 3)
5)
Subtractions from Schedule K of Form 1065 (See instructions) (Attach
Schedule K of Form 1065 and rental schedule(s), if applicable)
6)
Alcoholic Beverage Sales Deduction (Worksheet X, Line 3)
7)
Local/other adjustments (Attach full explanation and schedule)
8)
Professional expenses not reimbursed by the partnership (Attach schedule
of expenses)
9)
Total adjustments (Add lines 5 through 8)
10)
Adjusted Net Profit (Subtract line 9 from line 4)
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 4 of Worksheet P
3)
Alcoholic Beverage Sales Deduction (multiply line 1 by line 2)
Enter here and on line 6 above
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