Form I-335 - Active Trade Or Business Income Reduced Rate Computation - 2015

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STATE OF SOUTH CAROLINA
1350
1350
I-335
DEPARTMENT OF REVENUE
ACTIVE TRADE OR BUSINESS INCOME
(Rev. 6/19/15)
REDUCED RATE COMPUTATION
3410
(Complete one I-335 for each return)
2015
(Attach I-335 and all supporting Worksheets to SC1040 or SC 1041)
For the year January 1 - December 31, 2015, or fiscal tax year beginning
2015 and ending
2016
Your Social Security number
Print your name
Spouse's Social Security number
Spouse's first name
1a.
Enter amount from Worksheet 1, line 3 ......…..……....................................
1a. $_________.00
1b. $_________.00
1b.
Enter total of amounts from Worksheets 2, line 22, Column C ...................
1c.
Add lines 1a and 1b........……………….....……………………………………
1c. $_________.00
2a.
Enter any adjustments necessary because of at-risk rules, South Carolina
net operating losses, and/or passive activity losses. <Enter in brackets if
the adjustment is negative.> Enter --0-- if no adjustments are
necessary......…………………………………………………………...............
2a. $_________.00
2b.
Enter the deductible part of self-employment tax from your federal return
on partnership income related to South Carolina. Do not include the
amount on line 2 of Worksheet 1. ........…………………..………….............
2b. $_________.00
2c.
Line 2a minus line 2b. <Enter in brackets if negative.> …...……………….
2c. $_________.00
3.
Add lines 1c and 2c. If zero or negative, STOP – DO NOT PROCEED......
3. $_________.00
4.
Enter amounts reasonably related to personal services of the taxpayer,
the taxpayer’s spouse, or any person claimed as dependent on the
taxpayer’s income tax return (see instructions for Rules for Using Safe
Harbor). Do not include amounts from W-2s or guaranteed payments for
personal services .....…........................................................................…...
4. $_________.00
Check here if using Safe Harbor
5.
Subtract line 4 from line 3. If greater than zero, enter on SC1040, line (l);
Schedule NR, line 39; or SC1041, Part I, line 2d. If zero or negative,
STOP – DO NOT PROCEED.......………………….………...........................
5. $_________.00
6.
Tax Year 2015 rate on qualifying active trade or business income .........…
6.
__________
3% (.03)
7.
Multiply line 5 by line 6 (enter here and on SC1040, line 8; or on SC1041,
line 9 ......….…………………………………….……………….....………........
7. $_________.00
NOTE: A taxpayer may decide annually to have eligible "active trade or business income" taxed at
the reduced rate under SC Code Section 12-6-545 or continue to use the standard graduated 3%
to 7% rates under SC Code Section 12-6-510 to compute South Carolina tax. For taxpayers filing
a joint return, the election to use the reduced rate in SC Code Section 12-6-545 is effective for
both taxpayers.
34101022

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