Form S-Corp - New Mexico Sub-Chapter S Corporate Income And Franchise Tax Return - 2016 Page 2

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*165070200*
2016 S-Corp-1
Income Taxable to Owners
Federal Employer Identification Number (FEIN)
COMPUTATION OF NET INCOME TAXABLE TO OWNERS
1
Ordinary income (loss) from federal Form 1120S, Schedule K
.
...........................................
1
2
Other income (loss) from federal Form 1120S, Schedule K
2
.
.................................................
3
Interest income from municipal bonds, excluding New Mexico bonds
.
.............................
3
4
Subtotal of lines 1 through 3
.
............................................................................................................
4
5
Interest from U.S. government obligations or federally-taxed New Mexico bonds
.
......
5
6
Allowable deductions from Schedule K
6
.
........................................................................................
7
Allocated income
7
.
(from S-Corp-B, line 8, column 1) ............................................................................
8
Apportionable income.
8
.
Subtract lines 5, 6, and 7 from line 4 .............................................................
_ _ _ . _ _ _ _
%
9
Average New Mexico percentage
.
(from S-Corp-A, line 5) ....................................................................................
9
10
New Mexico apportionable income.
10
.
Multiply line 8 by line 9 .........................................................
11
New Mexico allocated income
11
.
(from S-Corp-B, line 9, column 2) ...................................................
12
New Mexico taxable income.
12
.
Add lines 10 and 11 ...........................................................................
2016 S-Corp-A
New Mexico Apportionment Factors
Calculate each percentage to four
decimal places; for example,
22.5431%.
Column 1
Percent
Column 2
Total Everywhere
Inside New Mexico
Inside New Mexico
PROPERTY FACTOR
Average annual value of inventory ..............................
1a
Average annual value of real property ........................
1b
Average annual value of personal property..................
1c
Rented property.
.............
Multiply annual rental value by 8
1d
Total property ..... ..........................................................
1e
_ _ _ . _ _ _ _
1. property factor.
%
1
Divide Total property Column 2 by Column 1 and then multiply by 100 ............................................
PAYROLL FACTOR
Total compensation of employees
..................
2a
_ _ _ . _ _ _ _
+
2. payroll factor.
2
Divide Column 2 by Column 1 and then multiply by 100 ......................................................................
%
SALES FACTOR
Gross receipts
.......................................................
3a
_ _ _ . _ _ _ _
+
3. Sales factor.
3
%
Divide Column 2 by Column 1 and then multiply by 100 .........................................................................
=
_ _ _ . _ _ _ _
4. tOtAl FACtORS.
4
%
Add lines 1, 2, and 3 ....................................................................................................................
5. Average New Mexico percentage.
Divide the factor on line 4 by the number of factors used to compute line 4,
_ _ _ . _ _ _ _
5
%
and then enter on S-Corp-1, line 9 ......................................................................................................................................
A.
This entity submitted written notification of its election to use one of the special methods of apportionment of business income
______________.
_______________.
for tax year ending
The effective date of the election is
See instructions.
Month/Day/Year
i
Month/Day/Year
h
Mark the box indicating the special method elected.
Manufacturers
Headquarters Operation
B.

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