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SCHEDULE S
Schedule S is used by Subchapter S corporations to reconcile the amount reported on line 1, page 1,with
federal Form 1120S and Schedule K of federal 1120S
1. Ordinary income (loss) from trade or business (per federal 1120S)……………………………………………………………… 1.
2. Income (loss) per Schedule K, federal 1120S, lines 2 through 10……………………………………………………………… 2.
3. Total income (loss) (Add lines 1 and 2)…………………………………………………………………………………….……… 3.
4. Deductions per Schedule K, federal 1120S………………………………………………………………………………………… 4.
5. Taxable income before NOL deduction and special deductions (Subtract line 4 from line 3) Enter on page 1, line 1……… 5.
SCHEDULE C
Schedule C is used for adjustments provided in the City Income Tax Ordinances. The period of time used to compute these adjustments
must be the same as the time period used to report income. These adjustments are allowed to the extent that they are related to
income reported on page 1, line 1.
COLUMN 1 - Add-Items Not Deductible COLUMN 2-Deduct-Items Deductible
1. Nondeductible portion of loss, from sale of 1. Interest from obligations of the United States,
property acquired prior to Jan 1, 1994…… 1. the states or subordinate units of government. 1.
2. All expenses (including interest) incurred 2. Dividends received deduction……………………… 2.
in connection with income 3. Foreign Dividend gross up…………………………… 3.
not subject to Grayling income tax………………… 2. 4. Foreign taxes paid or accrued deduction………… 4.
3. Grayling income tax paid or accrued…………… 3. 5. Nontaxable portion of gain from sales of
4. Other (submit schedule)………………………… 4. property acquired prior to Jan 1, 1994……… 5.
6. Other (submit schedule)……………………………… 6.
5. Total additions (enter on page 1, line 2)……… 5. 7. Total Deductions (enter on page 1, line 4)………… 7.
SCHEDULE D
In the case of a taxpayer authorized by the Finance Director to use a special formula, attach computations and furnish the following:
a. Copy of approval letter b. Percentage used - enter here and on page 1, line 6.
Are you electing to use the Multistate Tax Compact Provision? YES (If yes, attach schedules). NO
INCOME APPORTIONMENT Located Located in Percentage
Everywhere (col. 1) Grayling (col 2) (col. 2 ÷ col. 1)
1. Average net book value of real and tangible personal property…………………….
a. Gross annual rent paid for real property multiplied by 8……………………………
b. TOTAL (add lines 1 and 1a)…………………………………………………………. %
2. Total wages, salaries, commissions and other compensation of all employees…… %
3. Gross receipts from sales made or services rendered……………………………… %
4. Total (add lines 1b, 2 and 3. You must compute a percentage for each line)……………………………………………………………….. %
5. Average* (enter here and on page 1, line 6)………………………………………………………………………………………………………. %
* In determining the average, divide line 4 by 3. However, if a factor does not exist, divide the sum of the percentages by the number of
factors actually used.
SCHEDULE G - AFTER ALLOCATION ADJUSTMENTS
1. Allocated net operating loss deduction (enter as a negative amount)………………………… 1.
2. Allocated capital loss carryover (enter as a negative amount)………………………………… 2.
3. Allocated partnership income (Enter income as a positive and losses as a negative)………… 3.
4. Total adjustments (Add Lines 1 through 3) Enter here and on page 1, line 8………………… 4.
Where incorporated Date incorporated Principal business activity(NAICS)
Address in Grayling Contact person Telephone number
Total number of location(s) everywhere Number of City location(s) included in this return
Attach a list of addresses of Grayling locations included in this return
THIRD PARTY DESIGNEE Do you want to allow another person to discuss this return with the Income Tax Department?
Yes. Complete the following No
Designee's name Phone No.
Under penalty of perjury, I declare that I have examined this return (including accompanying schedules and statements) and to the best of
my knowledge and belief it is true,correct and complete. If prepared by a person other than taxpayer, the declaration is based on
all information of which the preparer has any knowledge.
Signature of Officer Date Title of Officer
Signature of preparer other than taxpayer Date Address
MAILING INSTRUCTIONS: Due Date: This return is due April 30, or at the end of the fourth month after the close of your tax year.
Mail to: City ofGrayling, Income Tax Department, PO BOX 549 Grayling, , MI 49738
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