Form Fi-161 - Vermont Fiduciary Return Of Income - 2013 Page 6
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8SCHEDULE A. TAXABLE MUNICIPAL BOND INCOME
16. Total interest and dividend income from all state and local obligations exempt from
Federal tax (see Line-by-Line Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16. $
17. Interest and dividend income from VT state and local obligations included in Line 16. . . . . . . 17.
18. INCOME FROM NON-VT STATE AND LOCAL OBLIGATIONS TO BE ADDED TO
VT TAXABLE INCOME. (Subtract Line 17 from Line 16, but not less than zero.)
Enter here and on Line 2a. (If municipal bond income was distributed, it is not
taxable on this return.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.
SCHEDULE B. TAX COMPUTATION
If using Federal Form 1041, complete Lines 19 - 23; if using Federal Form 1120-SF, complete Lines 24 & 25.
VT tax from tax rate schedule (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.
19.
20.
Additions to VT tax
20a. Tax on lump-sum distributions
(from Federal Form 4972) . . . . . . . . . . . . . . . . . . . . . . . . . . .20a. ___________________
20b. Recapture of Federal investment credit
(from Federal Form 4255) . . . . . . . . . . . . . . . . . . . . . . . . . . .20b. ___________________
20c. Total additions (add Lines 20a and 20b; then, multiply by 24%) . . . . . . . . . . . . . . . . . .20c.
Add Lines 19 and 20c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.
21.
22.
Subtractions from VT tax
22a. Investment tax credit - VT-based only
(from Federal Form 3468) . . . . . . . . . . . . . . . . . . . . . . . . . . .22a. ___________________
22b. Multiply Line 22a by 24% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22b.
22c. VT-based Business Solar Energy Credit Carryforward . . . . . . . . . . . . . . . . . . . . . . . . .22c.
22d. Add Lines 22b and 22c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22d.
Total tax. Subtract Line 22d from Line 21. Enter here and on Line 6. . . . . . . . . . . . . . . . . . . 23.
23.
OR
If filing for Qualified Settlement Fund, enter amount from
24.
Federal Form 1120-SF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.
Multiply amount on Line 24 by 8.95%. Enter here and on Line 6 . . . . . . . . . . . . . . . . . . . . . 25.
25.
SCHEDULE C. INCOME ADJUSTMENT
Total Income (from Schedule E, Line 59, Column A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.
26.
Non-VT income of nonresident or part-year resident estate or trust
27.
(from Schedule E, Line 60) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.
VT income (subtract Line 27 from Line 26) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.
28.
Adjustment percentage. Divide Line 28 by Line 26. Enter here and on Line 7 . . . . . . . . . . . 29.
29.
%
Form FI-161, page 2
Rev. 12/13
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