Partnership name as shown on GR-1065 Federal Employer Identification Number SCH RZ (Form GR-1065) Page 1 of 2 PARTNERSHIP RENAISSANCE ZONE DEDUCTION, SCHEDULE RZ OF FORM GR-1065 FOR COMPUTATION OF THE RENAISSANCE ZONE DEDUCTION FOR USE BY A PARTNERSHIP LOCATED AND DOING BUSINESS IN A GRAND RAPIDS RENAISSANCE ZONE 1. Address of each location in a Grand Rapids Renaissance Zone and the number of the zone 2. Dates qualified to claim RZ deduction Starting date / / Ending date / / Starting date / / Ending date / / DISQUALIFICATION SECTION A PARTNERSHIP IS NOT QUALIFIED TO CLAIM THE RENAISSANCE ZONE DEDUCTION IF ANY OF THE FOLLOWING TAXES ARE DELINQUENT: Grand Rapids Income Tax Personal Property Tax Commercial Facilities Tax (CFT) City (Detroit) Utilities Users Tax Michigan Income Tax Michigan Single Business Tax Enterprise Zone Tax Technology Park Development Tax General Property Tax Industrial Facilities Tax (IFT) Neighborhood Enterprise Zone Tax Commercial Forest Tax PARTNERSHIP LOCATED AND DOING BUSINESS IN A GRAND RAPIDS RENAISSANCE ZONE TO CLAIM A RENAISSANCE ZONE DEDUCTION A PARTNERSHIP MUST HAVE REAL AND/OR PERSONAL PROPERTY LOCATED IN A GRAND RAPIDS RENAISSANCE ZONE AND BE CONDUCTING BUSINESS ACTIVITY IN THE ZONE COLUMN 1 COLUMN 2 COLUMN 3 RENAISSANCE ZONE ALLOCATION PERCENTAGE LOCATED IN LOCATED IN GRAND RAPIDS RENAISSANCE ZONE PERCENTAGE Average net book value of real and tangible personal property 3 (Column 2 3. (If qualified for less than a full tax year, use monthly average) divided by Gross rents paid on real property multiplied by 8 4 column 1) 4. 5. Total property (Add lines 3 and 4 of columns 1 and 2) 5 % 6. Total wages, salaries and other compensation 6 % 7. Total percentages (Add column 3 lines 5 and 6) 7 % 8. Renaissance Zone deduction percentage (Line 7 divided by 2) 8 % ` LINE 9 - RENAISSANCE ZONE DEDUCTION FOR ORDINARY BUSINESS INCOME PRIOR TO PHASE OUT COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 ALLOCATED NET OPERATING RETIREMENT PLAN BASIS FOR RENAISSANCE ZONE BUSINESS INCOME LOSS DEDUCTION DEDUCTION COMPUTING DEDUCTION FOR PARTNER FROM GR-1065, CLAIMED CLAIMED RENAISSANCE ZONE PARTNER BUSINESS INCOME NUMBER SCHEDULE C ON PARTNER'S ON PARTNER'S DEDUCTION FOR NUMBER PRIOR TO PHASE OUT COLUMN 3 CITY INCOME TAX CITY INCOME TAX BUSINESS INCOME RETURN, GR-1040 RETURN, GR-1040 (Column 1 less (Column 4 times line 8) columns 2 and 3) Line 9 totals Line 9 total RENAISSANCE ZONE DEDUCTION CONTINUED ON NEXT PAGE Revised 04/27/2016 |
Partnership name as shown on GR-1065 Federal Employer Identification Number SCH RZ (Form GR-1065) Page 2 of 2 LINE 10 - RENAISSANCE ZONE DEDUCTION FOR INCOME NOT INCLUDED IN LINE 9 AND GUARANTEED PAYMENTS PRIOR TO PHASE OUT P COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 A N IF PARTNER WAS A RENAISSANCE ZONE R U RESIDENT DOMICILED INTEREST & SALE OR RENTS AND OTHER INCOME GUARANTEED DEDUCTION BEFORE T M PAYMENTS TO N B IN A RENAISSANCE DIVIDENDS EXCHANGE ROYALTIES PARTNERS PHASEAPPORTIONEDOUT FOR E E BEGINNINGZONE ENTERAND ENDING (See instructions) OF(SeePROPERTYinstructions) (See instructions) (See instructions) (See instructions) INCOME R R DATES FOR TAX YEAR (Add line 10, col. 2 through 6) Line 10 totals COLUMN 1 COLUMN 2 MONTHS IN TAX YEAR MONTHS IN TAX RENAISSANCE ZONE DEDUCTION PHASE OUT PERCENTAGE PRIOR TO YEAR AFTER 01/01 /2023 12/31/2022 11. Enter the number of months in each column for the stated time period 11 In column 1 enter Renaissance Zone deduction phase out percentage for tax year on the form 12. GR-1065 being filed, and in column 2 enter the deduction phase out percentage for the next. % % (Must be equal to 0%, 25%, 50%, 75% or 100%) 12 Renaissance Zone phase out for each portion of the tax year (Line 11 muiltiplied by line 12 13. of the column divided by the total number of months in the tax year or short period, line 1, % % columns 1 and 2) 13 14. Renaissance Zone phase out percentage for tax year (add line 3 of columns 1 and 2) % 14 LINE 15 - RENAISSANCE ZONE DEDUCTION COLUMN 1 COLUMN 2 COLUMN 3 RENAISSANCE ZONE RENAISSANCE ZONE TOTAL RENAISSANCE The Renaissance Zone designation PARTNER DEDUCTION BEFORE DEDUCTION ZONE DEDUCTION starts on January 1 of the first year of NUMBER PHASE OUT PHASE OUT (Subtract line 15, column 2, designation and ends on December 31 of (Add line 9, column 5 (Column 1 multiplied by the from line 15, column 1; and line 10, column 7) percentage on line 14) enter here and on Form 1065, the final year of designation. The page 1, column 2) deduction is reduced during the last 3 calendar years of a zone's designation. The reduction phase out is: 0% for all but the last three years of a zone's designation; 25% for the tax year that is 2 years before the final year of designation; 50% for the tax year immediately preceding the final year of designation; and 75% for the final year of designation. Line 15 totals Revised 04/27/2016 |