CITY OF PORT HURON INCOME TAX - FIDUCIARY RETURN 
PH-1041                                                                                                                                              2022
                                  For calendar year 202 2or tax year beginning:                          and ending:
Name of trust or estate                                                                                  Federal employer identification number FEIN 

Name and title of fiduciary 
                                                                                                         Date entity created: 
Number, street, and room or suite number                                                                 Check if: 

City or town, state, and ZIP code                                                                            Initial return 
                                                                                                             Final return 
                                                                                                             Amended return 
                                                                                                             Change in fiduciary's name or address 

INCOME AND TAX COMPUTATION: 

1  Total business income (loss) for the period - from federal return 

2  Add city of Port Huron income tax deducted from income on the federal return 

3  Total income subject to allocation. Add lines 1 and 2, enter the result on this line 

4  Allocation percentage - from schedule A on page 2. If all business was conducted in Port Huron, enter 100% 

5  Allocated income. Multiply line 3 by line 4. Enter the result on this line 

6  Net income (loss) from rental property located in the City of Port Huron - from federal return 

7  Capital gain (loss) from property located in the City of Port Huron - from federal return 

8  Other City of Port Huron income 

9  Total City of Port Huron income. Add lines 5, 6, 7 and 8. Enter the result on this line 

10 Less the amount of Port Huron income on line 9 that is applicable to beneficiaries who are City of Port Huron residents 
   based on the following computation: 

   Resident beneficiaries' share 
   of distributable net income                                  The amount on line 9                   The amount to 
                                                         X                                           = enter on line 10 
   Total distributable net income 

11 Amount subject to tax. Subtract line 10 from line 9, enter the result on this line 

12 Tax.  Multiply line 11 by 1/2 of 1% (.005).                                                         This is the BALANCE DUE 

I declare, under penalty of perjury, that the information in this return and attachments is true and   I declare under penalty of perjury, that this return is based on all 
complete to the best of my knowledge.                                                                  information of which I have knowledge. 
                                                                                                       Preparer's name, address and ID number 
Signature of fiduciary or officer presenting fiduciary                        Date 

X 

Make checks payable to: City of Port Huron             Mail to: Income Tax Division                    Preparer's signature                          Date 
                                                                100 McMorran Blvd. 
                                                                Port Huron, MI 48060                   X 

Form PH-1041                                                                                                                                                                    Page 2 

SCHEDULE A - BUSINESS ALLOCATION FORMULA 
                                                                                                                  I                  II                                    III 
                                                                                                                  Located everywhere Located in the city                   Percentage in the city 
                                                                                                                                                                           II ) I
1a Average net book value of real and tangible personal property           . . . . . 
1b    Gross rentals of real property multiplied by 8 . . . . . . . . . . . 
1c Total - line 1a plus line 1b .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .                                                                                 %
2 Total wages salaries, commissions and other compensation paid to all employees                                                                                                                  %
3 Gross receipts from sales made or services rendered .    .    .    .    .    .    .    .                                                                                                        %
4 Total of all percentages - add the percentages computed on lines 1c, 2 and 3             . .                    .    .    .    .    .    .    .    .    .    .    .    .                        %
5 Average percentage - divide line 4 by three* - Enter here and on page 1, line 4 . .                             .    .    .    .    .    .    .    .    .    .    .    .                        %

*In determining the average percentage, if a factor does not exist, you must divide line 4 by the number of factors used
If you are authorized to use a special formula, give the date of your approval letter                               and attach a schedule detailing the calculation 

SCHEDULE B - RESIDENT BENEFICIARIES 

NAME AND ADDRESS OF EACH RESIDENT BENEFICIARY                                                                                        SOCIAL SECURITY NUMBER 

A 

B 

C 

D 

E 

SCHEDULE C - EACH RESIDENT BENEFICIARIES' SHARE OF EXCLUSIONS 

  1. Exclusion for Interest from                     2. Exclusion for the portion of capital                                         3. Other income exclusions
  governmental obligations                           gains occuring before January 1, 1969                          Explain and support the amount 

A 
B 
C 
D 
E 

             The fiducuiary must report the amounts in columns 1, 2 and 3 to each resident beneficiary 

INSTRUCTIONS FOR FORM PH-1041 
CITY OF PORT HURON FIDUCIARY RETURN 

General                                                             Lines 10 and 11 - Beneficiaries who are City of Port Huron 
Every trust and estate that has gross income from sources listed    residents must report their portion of distributable net income on 
under "Taxable Income" below, must file a City of Port Huron        their individual return. Resident beneficiaries should receive this 
Fiduciary Income Tax Return (Form PH-1041). You must file a         information from the Fiduciary. Use line 10 to find the resident's 
return whether or not the trust or estate had a net profit. Under   share of total taxable income. Subtract this amount from total 
the ordinance, estates and trusts are treated as a nonresident      income. Enter the result on line 11. This is the income that is 
individual.                                                         taxable to the trust or estate. 
The return is due by the last day of the fourth month,              Schedule A - Business Allocation Formula 
following the end of the trust’s or estate’s taxable year.          Use the Business Allocation Formula when a trust or estate 
Calendar year 202 2returns are due by May  , 2021 . We3             conducts a business activity both inside and outside the City of 
                                                                    Port Huron. Use the formula to find what percentage of 
do not require trusts or estates to file a Declaration of Estimated business activity was conducted in the city. We tax trusts and 
Income Tax.                                                         estates on the percentage of income that relates to business 
You must pay any balance due when you file the return. Make         activity in the city. 
all funds payable to: City of Port Huron. Mail both the return      Line 1a. Show in column I the average net book value of all 
and your payment to: Income Tax Division, 100 McMorran              real and tangible personal property owned by the business 
Boulevard, Port Huron, Michigan 48060.                              no matter where it is located. In column II show the net 
                                                                    book value of all real and tangible personal property owned 
Taxable Income                                                      by the business in the City of Port Huron. You may find the 
“Income from trusts and estates” means "income" as defined in       average net book value by adding the net book value at the 
Sec. 643(b) of the federal Internal Revenue Code. It includes all   beginning and at the end of the year and dividing the sum by 
income properly paid, credited, distributed or required to be       two. You may also use any other method that accurately 
distributed.                                                        reflects the average net book value for the year. 
                                                                    Line 1b. Show in column I the gross rentals for the year 
The only types of income taxable to an estate or trust are          multiplied by eight for all rented property no matter where 
the following:                                                      the property is found. In column II enter the gross rentals for 
                                                                    the year multiplied by eight for all rented property in the city. 
(1) The portion of net profits from the operation of a business or  Gross rentals refer only to real property, rented or leased.  
enterprise operated by the estate or trust from business activity   Rent includes all amounts paid, directly or indirectly, for the 
conducted in the City of Port Huron. It does not matter whether     use or possession of the property. 
or not the business or enterprise is located in Port Huron.  We
tax businesses outside the City on any portion of its net profits   Line 2. Show in column I the total compensation paid to all 
that are allocable to business activities in the  City.             employees during the year. In column II enter the amount 
                                                                    of compensation paid to employees for work done or 
(2) Net profits from rentals of real and tangible personal          services performed within the city of Port Huron during the 
property located in the City of Port Huron.                         year. 
(3) Capital gains from the sale or exchange of real and tangible    Line 3. Show in column I the total gross receipts from all 
personal property located in the City of Port  Huron.               sales or services rendered during the year. In column II 
                                                                    enter the amount of receipts from sales made or services 
(4) Income from partnerships.                                       rendered in the City of Port Huron during the year.   
                                                                    Line 5. In determining the average percentage, exclude a 
Instructions for Page One of Form PH-1041                           factor only if the factor does not exist as far as your 
Line 1 - Show on this line the total net profit (or loss) from      business operation is concerned. If a factor does not exist, 
business activities reported on page 1 of your federal income tax   divide the sum of the percentages by the number of factors 
return (Form 1041).                                                 used. 
Line 4 - Show on this line the allocation percentage you            Schedule C - Resident Beneficiaries Share of Exclusions  
determined in schedule A. If you conducted all of your business     Get the information for this schedule from the comparable areas 
in the City of Port Huron, enter 100%.                              of the trust’s or estate’s federal return.  Show only information 
                                                                    and amounts for beneficiaries who are City of Port Huron 
Line 6 - Show on this line the net profit (or loss) from the rental residents. Fiduciaries must report the amounts in columns 5, 6 
of real and tangible personal property located in the City of Port  and 9 to each resident beneficiary. The beneficiary will show 
Huron.                                                              these amounts as exclusions on their individual return PH-1040. 

Line 7 - Show on this line capital gains (or loss) from the sale or Assistance 
exchange of real and tangible personal property located in the      If you have any questions or need help, call (810) 984-9741 
City of Port Huron.                                                 or email us at incometax. @porthuron.org You can also 
                                                                    visit our office in Room 112 of the Municipal Office Center, 
                                                                    100 McMorran Boulevard, Port Huron, Michigan 48060.