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2012 Form T-74 - Rhode Island Banking Institution Excise Tax Return

SPECIFIC INSTRUCTIONS - page 3

2g) Interest and Dividends

Any interest and dividend income not included elsewhere.

2h) Interest Not Taxed by the Federal Government

Any income exempt from federal taxation.

2i) Capital Gains

Net income from the sale of real property, tangible personal property, or other

capital assets not held by the taxpayer for sale to customers in the regular

course of business.

2j) Other Income

Gross income from all other receipts from all other sources not listed on line

2a through 2i.

Line 3 - Salaries and Wage Factor

Schedule J, line 3, Column A represents that part of the total wages, salaries

and other compensation to officers and employees paid or incurred by the

taxpayer during the taxable year which is assignable to offices, agencies, or

places of business within the State of Rhode Island, or which is attributable

to services performed in connection with the taxpayer’s activities or transac-

tions within this state during the taxable year.

Line 4 - Rhode Island Ratios

Total the Rhode Island ratios from lines 1f, 2k and 3b.

Line 5 - Allocation Factor

If dollar amounts for property, receipts and salaries exist in Column B, the

total of the three ratios on line 4 should be divided by 3. If one factor is not

found in Column B, then the total of the two ratios on line 4 must be

divided by 2. If only one factor exists in Column B, then the ratio on line 4

should be carried to line 5. Also, enter this ratio on schedule A, line 7.

SCHEDULE H – FRANCHISE TAX CALCULATION

If multiple classes of stock are owned, a separate schedule should be

attached to the return in order to calculate the authorized capital.

Line 1 - Number of Shares of Authorized Stock – this is the total number

of authorized shares.

Line 2 - Par Value per Share of Stock - the par value of the authorized

shares of stock on line 1. “No par” stock shall be valued at $100 per share.

Line 3 - Authorized Capital - Multiply line 1 times line 2. If a separate

schedule was used due to multiple classes of stock ownership, then the

authorized capital of each class should be combined and listed on this line.

Line 4 – Divide the authorized capital from line 3 by $10,000.00

Line 5 – Multiply line 4 by $2.50.

Line 6 -

Apportionment Ratio -

enter the apportionment ratio from

Schedule G, line 5.

Line 7 – Franchise Tax - Multiply line 5 times line 6. List the result here, but

not less then the minimum tax of $100.

Form T-74 - Rhode Island Banking Institution Excise Tax Return Specific Instructions - 2012 Page 3

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