Form Sc 1120s - 'S' Corporation Income Tax Return Page 4
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7SC1120S
Page 4
ONLY MULTI-STATE CORPORATIONS MUST COMPLETE SCHEDULES E, F, G, AND H
SCHEDULE E
COMPUTATION OF LICENSE FEE OF MULTI-STATE CORPORATIONS
1. Total Capital and Paid-in-Surplus at end of Year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
2. SC PROPORTION: (line 1 X ratio from Schedule H-1, H-2 or H-3, as appropriate). Also enter on line 14, Part II . . $
SCHEDULE F
INCOME SUBJECT TO DIRECT ALLOCATION
(B) Gross
(C) Related
(D) Net Amounts
(E) Net Amounts
Amounts
Expenses
(Column B minus Column (C)
Allocated Directly to SC
(A) Allocated Income
1. Total Allocated Income (Enter the total of Column D here)
2. Total Income Allocated to SC (Enter the total of Column E)
Attach an explanation of each type of income listed above that is not allocated to South Carolina.
SCHEDULE G
COMPUTATION OF TAXABLE INCOME OF MULTI-STATE CORPORATIONS
1. Total net income as reconciled. Enter amount from line 3, Page 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.
2. Less: Income subject to direct allocation to SC and other states from Schedule F, line 1 . . . . . . . . . . . . . . .
2.
3. Total net income subject to apportionment (line 1 less line 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
4. Multiply amount on line 3 by appropriate ratio from Schedule H-1, H-2, or H-3 and enter result here . . . . . .
4.
5. Add: Income subject to direct allocation to SC from Schedule F, line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.
6. Total SC Net Income (sum of lines 4 and 5 above) also enter on line 4, Part 1 of Page 1 . . . . . . . . . . . . . . .
6.
COMPUTATION OF SALES RATIO
SCHEDULE H-1
Amount
Ratio
1. Total Sales Within South Carolina (see instructions)
2. Total Sales Everywhere (see instructions)
%
3. Sales Ratio (line 1 ÷ line 2)
Enter 100% on Line 3, if South Carolina is the principal place of business OR
Note: If there are no sales anywhere:
Enter 0% on Line 3 if principal place of business is outside South Carolina.
SCHEDULE H-2
COMPUTATION OF GROSS RECEIPTS RATIO
Amount
Ratio
1. South Carolina Gross Receipts
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2. Amounts Allocated to South Carolina on Schedule F
3. South Carolina Adjusted Gross Receipts (line 1 – line 2)
4. Total Gross Receipts
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>
5.
Total Amounts Allocated on Schedule F
6.
Total Adjusted Gross Receipts (line 4 – line 5)
7.
Gross Receipts Ratio (line 3 ÷ line 6)
%
SCHEDULE H-3
COMPUTATION OF RATIO FOR SECTION 12-6-2310 COMPANIES
Amount
Ratio
1. Total Within South Carolina (see instructions)
2. Total Everywhere
3. Taxable Ratio (line 1 ÷ line 2)
%
30954036
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