Form R-B - Business Income Tax Return - Xenia City

ALL FEDERAL SCHEDULES LISTED BELOW AND OTHER SUPPORTING DOCUMENTS MUST BE ATTACHED TO THIS RETURN

SECTION X – Reconciliation with Federal Income Tax Return

ITEMS NOT DEDUCTIBLE

ADD

ITEMS NOT TAXABLE

DEDUCT

A. Capital losses deducted (including IRC 1221 & 1231

K. Capital gains from sale, exchange or other disposition

property) DO NOT INCLUDE ordinary loss from Federal

(from Federal Schedule D). Includes IRC 1221 & 1231

Form 4797……………………………………………………………..

$_____________

property. DO NOT INCLUDE ordinary gain from Federal

Form 4797…………………………………………………………..

$_____________

B. Expenses attributable to non-taxable income. MUST BE

L. Interest earned or accrued…………………………………...

$_____________

5% of Line R)………………………………………………………….

$_____________

C. City & State income taxes & other taxes based on

M. Dividends……………………………………………………….

$_____________

income………………………………………………………………….

$_____________

D. Net operating loss deduction per Federal Return…………..

$_____________

N. Federal tax credit to the extent corresponding

operating expenses have been reduced……………………...

$_____________

E. Payments to partners (including former partners)…………

$_____________

O. Not previously deducted IRS Section 179 expense……..

$_____________

F. Dividends, distributions, or amounts set aside for,

P. Partnership, S Corp, LLC charitable contributions…......

$_____________

credited to, or distributed to REIT or RIC investors…………...

$_____________

G. Qualified self-employed retirement, health and life

Q. Other Deductions (explain)…………………………………..

$_____________

insurance plans for owners of non-C Corp entities……………

$_____________

_____________________________________________

H. Rental activities by partnerships, S Corp, LLC or trusts….

$_____________

I. Other Expenses not deductible (explain)……………………...

$_____________

__________________________________________________

J. TOTAL ADDITIONS………………………………………………..

$_____________

R. TOTAL DEDUCTIONS…………………………………………

$_____________

1. ITEMS NOT DEDUCTIBLE (FROM LINE J)……………………………………………………………………………………..

$______________________

2. ITEMS NOT TAXABLE (FROM LINE R)…………………………………………………………………………………………

$______________________

3. SCHEDULE X ADJUSTMENT (LINE 1 MINUS LINE 2, ENTER ON LINE 2 ON FRONT, MAY BE POSITIVE OR

$______________________

NEGATIVE)……………………………………………………………………………………………………………………………..

SECTION Y – Business Allocation Formula

Use this schedule if engaged in business in more than one city and you do not have books and records which will disclose with reasonable accuracy what

portion of the net profits is attributed to that part of the business done within the City of Xenia. Businesses located wholly within the Xenia city limits must

include copies of tax returns filed and paid in other cities in order to allocate less then 100% to Xenia.

A. LOCATED EVERYWHERE

B. LOCATED IN XENIA

C. PERCENTAGE (B/A)

$________________________

$______________________

Step 1.

Average original cost of real and tangible personal property……………………

Gross annual rentals multiplied by 8……………………………………………….

________________________

_______________________

Total Step 1……………………………………………………………………………

$________________________

$______________________

_________%

Step 2.

Gross receipts from sales and work or services…………………………………..

$________________________

$______________________

_________%

Step 3.

Total qualifying wages, salaries, commissions and other compensation for all

employees……………………………………………………………………………..

________________________

_______________________

_________%

Step 4.

Totals…………………………………………………………………………………..

$________________________

$______________________

_________%

Step 5.

AVERAGE PERCENTAGE (Divide total percentages by number of percentages used.)

Partner’s Distributive Shares of Net Income (From Federal Schedules 1065K and 1099)

All partnerships required to file as entities must attach ALL of the federal schedules detailing the partners’ distributive shares (Federal

Schedule K and K-1).

Additional Information



DO YOU SUBCONTRACT LABOR TO PERFORM WORK IN XENIA?

YES

If YES, copies of 1099s or a statement containing the same information must be submitted no later than February 28 of each year. Failure to provide this

information can result in the disallowance of the deduction of subcontractor pay.



DO YOU HAVE EMPLOYEES WORKING IN XENIA?

YES

If YES, copies of employee W-2 forms must be submitted no later than February 28 of each year.

Having trouble filling out your return?

Call 937-376-7248 between 9 AM and 5 PM (Eastern Standard Time), Monday through Friday, for assistance.

2015 Form R-B, 10/2015