Form 60 - North Dakota S Corporation Income Tax Bokklet - 2012 Page 12
Download a blank fillable Form 60 - North Dakota S Corporation Income Tax Bokklet - 2012 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form 60 - North Dakota S Corporation Income Tax Bokklet - 2012 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
2910
Item D
Line 18
Exception 2: Interest from U.S. obligations.
Corporation’s apportionment factor
Enter the name and address of the shareholder
Do not include interest from U.S. obligations
Enter the corporation’s apportionment factor
as shown on the shareholder’s Federal
in determining the amount to enter on Part 4,
from Schedule FACT, line 14.
Schedule K-1. If the shareholder is a single
line 22.
member limited liability company (LLC) and
If the calculation of any amount on lines
Lines 19 through 31
is treated as a disregarded entity for federal
Income and loss items
19 through 31 of Part 4 was affected by the
income tax purposes, enter the owner’s name
removal or inclusion of net nonbusiness
Except as explained under Exception 1 and
and address.
income, attach a statement to the
Exception 2, multiply the corresponding
shareholder’s North Dakota Schedule K-1
Item E
amount from the shareholder’s Federal
(Form 60) identifying the net nonbusiness
Schedule K-1, Part III, boxes 1 through 12,
Enter the same code letter shown in Column 3
income and showing the calculation of the
and any I.R.C. § 179 property disposition
of Schedule KS of Form 60.
amount entered on the applicable line(s) of
gain (loss) included in box 17 by the
Part 4.
Item F
corporation’s apportionment factor from
Schedule FACT, line 14, and enter the result
If the shareholder is an individual, estate, or
Part 5
on the corresponding line of Part 4, lines 19
trust, mark the applicable circle to indicate
Nonresident individual
through 31.
the legal residency status of the shareholder
shareholder only
for North Dakota income tax purposes. If
For “Other deductions” from box 12
an individual shareholder changed his or
Complete Part 5 for a nonresident individual
of Federal Schedule K-1, only include
her legal residency to or from North Dakota
shareholder only.
deductions that are allowed as a deduction
during the tax year, check the part-year
from gross income in calculating adjusted
Line 32
resident status. In the case of an estate or trust
gross income for federal income tax purposes.
ND distributive share of income
shareholder, only the full-year resident or full-
(loss)
For purposes of calculating the gain or
year nonresident status will apply.
Enter the shareholder’s North Dakota
loss for I.R.C. § 179 property dispositions
Item G
distributive share of income (loss) from
included in box 17 of the Federal
For only a nonresident individual shareholder,
Form 60, Schedule KS, Column 6.
Schedule K-1, include all of the Section 179
indicate whether the shareholder is included
deduction passed through to the shareholder,
Line 33
in a composite return fi led by the corporation
regardless of whether or not the shareholder
ND income tax withheld
by marking the applicable circle.
actually deducted all of it.
Enter the amount of North Dakota income tax
Exception 1: Allocable (nonbusiness)
Item H
withheld from the shareholder’s North Dakota
income. If the corporation treated any
distributive share of income from Form 60,
Enter the shareholder’s stock ownership
distributable item of income from the
Schedule KS, Column 7.
percentage as shown on the shareholder’s
shareholder’s Federal Schedule K-1 as
Federal Schedule K-1.
Line 34
nonbusiness income subject to allocation,
ND composite income tax
calculate the amount to enter on the
Part 3
corresponding line of this part in the
Enter the amount of North Dakota composite
All shareholders—
following steps:
income tax on the shareholder’s North Dakota
North Dakota adjustments
distributive share of income from Form 60,
and tax credits
1. Subtract the net nonbusiness income
Schedule KS, Column 8.
(gross amount less related expenses)
If there are any North Dakota adjustments
from the applicable distributable amount
Before you fi le
or tax credits on Form 60, Schedule K,
shown on the Federal Schedule K-1.
lines 1 through 17, complete this part for all
Form 60
shareholders.
2. Multiply the remaining distributive
amount, if any, (from step 1) by the
Lines 1 through 17
corporation’s apportionment factor from
Signatures
Enter the shareholder’s share of each amount
Schedule FACT, line 14.
The return must be signed and dated
shown on Form 60, Schedule K, lines 1
by a corporate offi cer or an authorized
3. Add the result (from step 2) to the
through 17, on the corresponding lines of
representative of the corporation.
portion, if any, of the net nonbusiness
Part 3, lines 1 through 17.
income allocable to North Dakota, and
If the corporation pays someone other than
Part 4
enter the result on the corresponding line
one of its employees to prepare the return,
of Part 4.
Nonresident individual,
the paid preparer also must sign and date the
return.
estate, or trust shareholder
Note: If any portion of the net nonbusiness
only—North Dakota income
income removed from the distributable
amount (in step 1 above) is allocable outside
(loss)
North Dakota, do not enter it anywhere on
Complete Part 4 for only a nonresident
North Dakota Schedule K-1 (Form 60).
individual, estate, or trust shareholder.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial