Enlarge image | 2021 CITY OF WALKER W-1065 PARTNERSHIP INCOME TAX RETURN For calendar year 2021 or other taxable period beginning ________________, 2021 and ending _______________, _________. IDENTIFICATION AND INFORMATION Name of Partnership Federal Employer Identification Number PLEASE TYPE Number and Street Type of Return - Check one OR Information only Payment on behalf of all partners PRINT City, Town or Post Office State Zip Code Date Business Started Number of Employees on December 31, 2021 Initial Walker Return Final Walker return Number of Partners ATTACH A COPY OF PAGES 1-5 OF FEDERAL FORM 1065 Telephone number SOCIAL SECURITY COLUMN A COLUMN B COLUMN C NAME, HOME ADDRESS, SOCIAL SECURITY NUMBER OR FEDERAL RESIDENT NON- IF RESIDENT PART AND RESIDENCY STATUS OF EACH PARTNER IDENTIFICATION OR CORPORATION RESIDENT OF YEAR, INDICATE (Place a check mark in Column A or B or fill in Column C) NUMBER FULL YEAR FULL YEAR TIME PERIOD (a) (b) (c) (d) Note 1. The partnership may pay tax for partners only if it pays for ALL partners subject to the tax. If the partnership elects to use this return as an information return, complete page 2 and fill in Column 1 below; It will not be necessary to fill in Columns 2 through 6 since a computation of tax need not be made. Note 2. A partner who has other income in addition to the partnership income must file an individual return and show on such return the amounts entered below in Columns 1, 2 and 6. A partner who is claiming his or her exemption as a member of another partnership is NOT entitled to claim the exemption in 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 ALLOWABLE RESIDENT NON-RESIDENT (From Page 2, INDIVIDUAL EXEMPTIONS TAXABLE INCOME TOTAL TAX TOTAL TAX CREDITS Schedule C, Column 7) DEDUCTIONS (See Note 2, above, (Column 1 less (Multiply Column 4 (Multiply Column 4 (See Instructions) (See Note 1 above) (See Instructions) and Instructions) Columns 2 and 3) by .01) by .005) 1. (a) $ $ $ $ $ $ $ 2. (b) 3. (c) 4. (d) 5. (e) 6. Totals $ $ $ $ $ $ $ 7. Total tax (Add Line 6 of Column 5a and Column 5b) $ Do not write in space below PAYMENTS AND CREDITS File Items 8. a. Tax paid with tentative return $ b. Payments and credits on 2021 Declaration of Estimated Walker Income Tax $ Code c. Other Credits - explain in attached statement $ 9. TOTAL - Add Lines 8a, b and c. (This total must agree with the total of Column 6 above) $ Auditor TAX DUE OR OVERPAYMENT 10. If tax (Line 7) is larger than payments (Line 9) enter BALANCE DUE (PAY BALANCE DUE IN FULL Approval WITH THIS RETURN. MAKE REMITTANCE PAYABLE TO: WALKER CITY TREASURER) $ 11. If payments (line 9) are larger than tax (line 7), enter overpayment $ 12. Amount of overpayment on line 11 to be applied to 2022 Estimated Tax $ 13. Amount of overpayment on line 11 to be refunded $ 14. Amount of overpayment on line 11 to be refunded via direct deposit to the following account: a. Routing number b. Type of account: Checking Savings c. Account number $ 15. May the Income Tax Department discuss this return with the preparer shown below? Yes No I declare that I have examined this return (including accompanying schedules) and to the best of my knowledge and belief, it is true, correct and complete. If prepared by a person other than the taxpayer, this declaration is based on all information of which the preparer has any knowledge. SIGN HERE ( ) - (Date) (Signature of partner or member) (Title) (Phone number) SIGN HERE ( ) - (Date) (Individual or firm signature of preparer) (Address) (Phone number) |
Enlarge image | 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 PAGES 1-5 FEDERAL 1065) 2. Add City of Walker 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 Walker income tax 4. Deduct Sec. 179 depreciation 5. TOTAL adjusted ordinary business income (Add Lines 1, 2 and 3 and subtract line 4) SCHEDULE B - NON-BUSINESS INCOME AND EXCLUSIONS COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 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, Line 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 NONRESIDENT ALLOCATED RESIDENT NONRESIDENT TOTAL INCOME BUSINESS PAYMENTS TO TO ALLOCATION ALLOCATION BUSINESS INCOME PARTNER'S NON- PARTNER'S NON- (Add Columns 5, INCOME PARTNERS (Add Column 1 and PERCENTAGE PER (Column 3 times BUSINESS INCOME BUSINESS INCOME 6a and 6b) (Schedule A, (Fed. 1065, line 10) Column 2) SCH. D (Enter100% % in Column 4) (Total equals Sch. B (Total equals Sch. B (Enter here and on Line 5) for resident partners) Column 3, Line 10) Column 5, Line 10) page 1, column 1) (a) % (b) % (c) % (d) % (e) % Totals SCHEDULE D - BUSINESS ALLOCATION FORMULA COLUMN 1 COLUMN 2 COLUMN 3 LOCATED EVERYWHERE LOCATED IN WALKER 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 (A percentage must be computed for each line) % 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 formulae, attach an explanation and use the lines provided below: a. Numerator c. Percentage (a divided by b) Enter here and on Schedule C, Column 4 b. Denominator d. Date of Administrator's approval letter SCHEDULE E - RENTAL REAL ESTATE If the business activity of this 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) Page 2 |