Sc Sch Td-1 - Deferred Income Taxes Sc Sch Td-1 3257 For South Carolina

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STATE OF SOUTH CAROLINA
SC SCH TD-1
DEPARTMENT OF REVENUE
(Rev.12/10/07)
DEFERRED INCOME TAXES
3257
For South Carolina
20
Individual Social Security No. or Corporate File No.
Name As Shown On Tax Return
YEAR
AMOUNTS
1.
Enter the prior three years and the amounts of
1.
a.
Gross Foreign Trading Receipts for each year.
b.
c.
2.
Total Foreign Trading Receipts. (Add a, b, and c)
2.
3.
Average of three years. (Divide amount on line 2 by 3.)
If the average on line 3 exceeds five million dollars,
DO NOT complete the rest of this form!
3.
4.
Foreign Trading Receipts for current tax year.
4.
5.
Increase in Foreign Trading Receipts. (Subtract line 3 from
line 4.)
5.
6.
Net Income subject to tax from SC1120, SC1040, SC1041,
or SC1065.
6.
7.
Income attributable to increase in Foreign Sales. Multiply
the net income amount on line 6 by the ratio of increase in
Foreign Trading Receipts (line 5) over total gross receipts.
Flow-through Entities - See Specific Instructions.
7.
8.
Net Income subject to tax after deferral. (Subtract line 7
from line 6.) If zero or less, enter zero.
8.
9.
Compute tax on Net Income from line 6 according to tax
rate. (Corporation, Individual or Fiduciary)
9.
10.
Compute tax on Net Income after deferral from line 8
according to tax rate. (Corporation, Individual or Fiduciary)
10.
11.
Deferred South Carolina Income Tax. (Subtract line 10 from
line 9.)
11.
NOTE:
The interest rate can be determined by applying the base period T-bill rate to the Deferred South Carolina
Income Tax on line 11. The current T-bill rate is established annually by the Internal Revenue Service.
32571010

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