Form Cift-620 - Louisiana Corporation Tax Return Page 10

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Schedule P - Computation of Louisiana Net Income

Column 3 must be completed. Column 2 must also be completed if the separate accounting method is used. Those corporations employing

the separate accounting method should review R.S. 47:287.94(H) for guidance.

1. Items

2. LA amounts

3. Totals

(Lines 1 through 25)

1. Gross receipts ______________________ Less returns and allowances _____________________

2. Less: Cost of goods sold and/or operations – Attach schedules.

3. Gross profit

4. Gross rents

5. Gross royalties

6. Income from estates, trusts, partnerships

7. Income from construction, repair, etc.

8. Other income – Attach schedule.

9. Total income – Add Lines 3 through 8.

10. Compensation of officers

11. Salaries and wages (not deducted elsewhere)

12. Repairs – Do not include cost of improvements or capital expenditures.

13. Bad debts

14. Rent

15. Taxes – Attach schedule.

16. Interest

17. Contributions

18. Depreciation – Attach schedule.

19. Depletion – Attach schedule.

20. Advertising

21. Pension, profit sharing, stock bonus, and annuity plans

22. Other employee benefit plans

23. Other deductions – Attach schedule.

24. Total deductions – Add Lines 10 through 23.

25. Net income from Louisiana sources – If separate (direct) method of reporting is used, print here and on Line 31.

26. Net income from all sources – Subtract Column 3, Line 24 from Column 3, Line 9.

27. Allocable income from all sources – See instructions, page 25. Attach schedule supporting each amount.

A. Net rents and royalties from immovable or corporeal movable property

B. Royalties from the use of patents, trademarks, etc.

C. Income from estates, trusts, and partnerships

D. Income from construction, repair, etc.

E. Other allocable income – See instructions, page 25.

28. Net income subject to apportionment – Subtract Line 27E, Column 3 from Line 26, Column 3.

29. Net income apportioned to Louisiana – See instructions, page 25.

30. Allocable income from Louisiana sources – See instructions, page 26. Attach schedule supporting each amount.

A. Net rents and royalties from immovable or corporeal movable property

B. Royalties from the use of patents, trademarks, etc.

C. Income from estates, trusts, and partnerships

D. Income from construction, repair, etc.

E. Other allocable income – See instructions, page 26.

31. Louisiana net income before loss adjustments and federal income tax deduction – Add Column 3, Line 29 to

Column 3, Line 30E. Print the result or the amount on Line 25, whichever is applicable, here and on Form CIFT-

620, Line 1A. Round to the nearest dollar.

Schedule Q - Computation of Income Tax Apportionment Percentage

1. Description of items used as ratios

2. Total amount

3. Louisiana amount

4. Percent (Col. 3 ÷ Col. 2)

For Manufacturers or Merchandisers.

1. Net sales of merchandise and/or charges for services

This is your apportionment ratio. Use

A. Sales – See instructions, page 26...........................................................

this result in determining income

apportioned to Louisiana on Line 29,

B. Charges for services – See instructions, page 26. .................................

Sch. P above. Do NOT proceed further.

C. Other gross apportionable income ..........................................................

D. Total – Add the amounts in Columns 2 and 3. Calculate the ratio and print the

result in Column 4. For taxpayers whose primary business is manufacturing

__ __ __ . __ __ %

or merchandising, use this apportionment ratio. See instructions, page 26. ......

2. Wages, salaries, and other personal service compensation paid

during the year – Print the amounts in Column 2 and Column 3.

__ __ __ . __ __ %

Calculate the ratio and print the result in Column 4. ...................................

__ __ __ . __ __ %

3. Income tax property ratio – Print percentage from Schedule M, Line 27. ......................................................................................

__ __ __ . __ __ %

4. Total of percents in Column 4 .....................................................................................................................................................

5. Average of percents – Multiply this result by the amount on Schedule P , Line 28 to determine the amount of Louisiana apportionable income.

__ __ __ . __ __ %

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