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IT 4708

Rev. 11/14

2014

Composite Income Tax

Return for Certain

14160402

FEIN

Investors in a

Pass-Through Entity

SCHEDULE III – DEDUCTIONS

List only those deductions that have not already been used to reduce any income items set forth in Schedule II.

41. I.R.C. 179 expense not deducted in calculating line 27

...................................................................... 41.

42. Adjustment for I.R.C. sections 168(k) and 179 depreciation expense added back in applicable previ-



ous years

1/2,

1/5 or

1/6 (check applicable box) and miscellaneous federal income tax

adjustments. Attach a separate schedule showing calculations

......................................................... 42.

43. Net federal interest and dividends exempt from state taxation

........................................................... 43.

44. Other separately stated K-1 amounts that are allowable as deductions in arriving at federal adjusted gross

income and amounts contributed to individual development accounts (attach detailed schedule of items)

44.

45. Exempt gains from the sale of Ohio state or local government bonds

............................................... 45.

46. Wage and salary expense not otherwise deducted because of a federal work opportunity

tax credit

............................................................................................................................................. 46.

47. Interest or income earned on Ohio public obligations and Ohio purchase obligations if such interest

or income is included on any of lines 27-35

........................................................................................ 47.

48. Net gain included in line 40 resulting from the sale, exchange or other disposition of Ohio public

obligations (do not enter amounts shown on line 45)

......................................................................... 48.

49. Total deductions (add lines 41-48; enter here and on Schedule I, line 2)

........................................... 49.

SCHEDULE IV – APPORTIONMENT WORKSHEET

Use this schedule to calculate the apportionment ratio for a pass-through entity that is not a ﬁ nancial institution as deﬁ ned in Ohio Revised Code sec-

tion (R.C.) 5725.01. If the pass-through entity is a ﬁ nancial institution, refer to the instructions. Note: All ratios are to be carried to six decimal places.

Total Everywhere

Within Ohio

50. Property

a) Owned (average cost)

Total Everywhere

Within Ohio

b) Rented (annual rental X 8)

Total Everywhere

Within Ohio

c) Total (lines 50a and 50b)

Ratio

Weight

Weighted Ratio

x .20 =

Total Everywhere

Within Ohio

51. Payroll

Ratio

Weight

Weighted Ratio

x .20 =

Total Everywhere

Within Ohio

52. Sales

Weight

Ratio

Weighted Ratio

x .60 =

Weighted Ratio

53. Total weighted apportionment ratio (add lines 50c, 51 and 52). Enter ratio here and on Schedule I, line 6.

Note: If the denominator of any factor is zero, the weight given to the other factors must be proportionately increased so that the total weight given to

the combined number of factors used is 100%, i.e., if no property/payroll, use 25% and 75%; if no sales, use 50% property/payroll.

2014 IT 4708

pg. 4 of 7