Enlarge image | 2020 CITY OF SAGINAW S - 1065 PARTNERSHIP INCOME TAX RETURN For the Calendar year 2020 or other taxable period beginning________________,2020, ending ________________, 20______ IDENTIFICATION AND INFORMATION Name of Partnership Federal Employer Identification Number: Information Only Payment on Behalf of all Partners Address Number of Partners on Decemberâ–¡ 31, 2020 _____________ â–¡ Number of Employees on December 31, 2020 _____________ Main Address in Saginaw: City State Zip Code Contact Person regarding this return: Contact Telephone Number: Initial Saginaw Return I I Final Saginaw Return I I ATTACH A COPY OF PAGE 1 OF FEDERAL 1065 & SCHEDULE K Name and Home Address of Each Partner SSN or FEIN Saginaw Resident Part-Year Resident Audit Use A. Yes No From To B. From To C. From To D. From To E. From To Note 2. A partner who has other income in addition to the partnership income must file an individual return and show on such returns the amounts from the Federal Form 1065 and take credit for his exclusions from page 2 of this return. A partner who is claiming his exemption as a member of another partnership is NOT to claim his exemption on this partnership return in column 3. ALL PARTNERSHIPS TAX PAYMENT BY PARTNERSHIP (If information return only, disregard this section) Column 1 Column 2 Column 3 Column 4 Column 5(a) Column 5 (b) Column 6 Total Income (from page 2, Allowable Individual Exemptions Taxable Income Resident Total Tax NonResident Total Tax Credits/payments Schedule C, column 7) Deductions (see note 2 above) (Col. 1 less Col. 2 &3) (Multiply Col. 4 by .015) (Multiply Col.4 by .0075) 1. (a) $ $ $ $ $ $ $ 2. (b) 3. (c) I I I I I 4. (d) I I I I I 5. (e) 6. Totals $ $ $ $ $ $ $ 7. Total tax (Add line 6 of column 5a and column 5b $ PAYMENTS AND CREDITS 8. a. 2020 estimated payments and tax extensions $ b. Credits forward from prior year refund $ 9. Total Payments and Credits (8a+8b) (This total must agree with the total of column 6 above) $ TAX DUE OR REFUND Overpayment 10. If your payments (Line 9) are larger than your tax (Line 7), enter Overpayment $ Credit Forward I 11. Amount to be credited to 2020 Estimated Tax (if amended - see instructions) $ Donation 12. Amount to be donated to Saginaw Fireworks. $ Refund 13. Amount to be refunded. (For Direct Deposit mark Refund on line 14 and complete a, b & c) $ Electronic 14. Mark One: Refund Or D Refund-Direct Deposit I I Pay Tax Due - Electronic Funds Withdrawal Payment a. Routing Number: b. Account number: I I c. Type of account: Checking I I Savings I I Tax Due 15. If your tax (Line 7) is larger than your payments (Line 9), enter Balance Due (For Ach payments mark Pay Tax Due on line 14 and complete a, b & c.) $ 16. May the Income Tax Department discuss this return with the tax preparer shown below? I I Yes I I No I declare that I have examined this return(including attached schedules) and to the best of my knowledge and belief, it is true, correct and complete. Sign Here (Date) (Signature of Partner or Member) (Title) (Phone Number) Sign Here (Date) (Individual or Firm signature of preparer) (Address) (Phone Number) Page 1 |
Enlarge image | Name as shown on S-1065 Federal Employer Identification Number I SCHEDULE A - ALLOCABLE PARTNERSHIP ORDINARY BUSINESS INCOME 1. Ordinary income (or loss) from page 1, line 22, U.S. Partnership Return of Income, Form 1065 (ATTACH COPY OF PAGE 1 FED 1065 & SCH K) 2. Add City of Saginaw income tax, if deducted in determining income on federal Form 1065 3. Add interest and other costs incurred in connection with the production of income exempt from Saginaw income tax 4. Deduct Sec. 179 depreciation (fed. Sch. K, line 12) and Other Deductions allowed (Attach explanation) 5. Total adjusted ordinary business income (Add lines 1, 2 and 3 and subtract line 4) I SCHEDULE B - NON-BUSINESS INCOME AND EXCLUSIONS COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 I EXCLUDABLE TAXABLE EXCLUDABLE TAXABLE ATTACH COPY OF FEDERAL SCHEDULE K (1065) FEDERAL NON-BUSINESS RESIDENT RESIDENT NONRESIDENT NONRESIDENT ATTACH SCHEDULES TO EXPLAIN ALL EXCLUSIONS FORM 1065 INCOME PARTNERS PARTNERS PARTNERS PARTNERS REFERENCE PORTION OF PORTION OF PORTION OF PORTION OF COLUMN 1 COLUMN 1 COLUMN 1 COLUMN 1 INTEREST AND DIVIDENDS 1. Interest income Sch. K, line 5 2. Dividend income Sch. K, lines 6a SALE OR EXCHANGE OF PROPERTY (SEE INSTRUCTIONS) 3. Net short-term capital gain (loss) Sch. K, line 8 4. Net long-term capital gain (loss) Sch. K, line 9a 5. Net Section 1231 gain (loss) Sch. K, line 10 RENTS AND ROYALTIES (IF NON-BUSINESS INCOME INCLUDES RENTAL REAL ESTATE, ATTACH COPY OF FEDERAL FORM 8825) 6. Net income (loss) from rental real estate activities Sch. K, line 2 7. Net income (loss) from other rental activities Sch. K, line 3c 8. Royalty income Sch. K, line 7 OTHER INCOME 9. Other income Sch. K, line 11 10. Totals (Add lines 1 through 9) * * SCHEDULE C - DISTRIBUTION TO PARTNERS COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6a COLUMN 6b COLUMN 7 ADJUSTED GUARANTEED INCOME SUBJECT ALLOCATION ALLOCATED RESIDENT NONRESIDENT TOTAL INCOME BUSINESS PAYMENTS TO TO ALLOCATION PERCENTAGE BUSINESS INCOME PARTNER'S NON- PARTNER'S NON- (Add columns 5, INCOME PARTNERS (Add column 1 and PER SCH D (Column 3 times BUSINESS INCOME BUSINESS INCOME 6a and 6b) (Sch. A, line 5) (Fed. 1065, line 10) column 2) (Resident partners % in column 4) (Total equals Sch. B (Total equals Sch. B (Enter here and on enter 100%) column 3, line 10) column 5, line 10) page 1, column 1) (a) % (b) % (c) % (d) % (e) % Totals SCHEDULE D - BUSINESS ALLOCATION PERCENTAGE COLUMN 1 COLUMN 2 COLUMN 3 LOCATED EVERYWHERE LOCATED IN Saginaw PERCENTAGE 1. a. Average net book value of real and tangible personal property (Column 2 divided b. Gross annual rent paid for real property only, multiplied by 8 by column 1) c. TOTALS (Add lines 1a and 1b) % 2. Total wages, salaries, commissions and other compensation of all employees % 3. Gross receipts from sales made or services rendered % 4. Total percentages (Add the percentages computed in column 3, lines 1c, 2 and 3) % 5. Business allocation percentage (Divide line 4 by the number of factors) Enter here and on Schedule C, column 4 (See note below) % Note 3. In determining the business allocation percentage (Line 5), a factor shall be excluded from the computation only when such factor does not exist anywhere insofar as the taxpayer's business operation is concerned. In such cases, the sum of the remaining percentages shall be divided by the number of factors actually used. In the case of a taxpayer authorized by the Income Tax Administrator to use one of the special formula, attach an explanation and use the lines provided below: I a. Numerator I I I c. Percentage (a divided by b) Enter here and on Schedule C, column 4 I b. Denominator I I I d. Date of Administrator's approval letter SCHEDULE E - RENTAL REAL ESTATE If the business activity of the partnership includes rental of real estate, indicate below the complete address and the gain or loss of each property. PROPERTY STREET ADDRESS GAIN OR LOSS PROPERTY STREET ADDRESS GAIN OR LOSS A D B E C TOTALS (ATTACH COPY OF FEDERAL FORM 8825) 2020 S-1065 Page 2 |