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Capital losses from U.S. Government obligations included in income operating income to arrive at the total income subject to the allocation
reported on page 1, line 1 are not deductible. Remove these losses by percentage.
including them in the amount reported on line 1. Taxpayers using separate accounting shall include in income subject to
COLUMN 1, LINE 5. Enter the losses from entities filing as partnerships tax a proportionate share of dividends, interest and other non-operating
that are included in taxable income reported on page 1, line 1. Attach a income of the total corporation. This type of income is apportioned to
schedule showing the name and FEIN of the partnership(s). Walker activity on the same basis as general administrative and
COLUMN 2, LINE 7. Enter the amount of interest income from overhead costs are apportioned.
obligations of the United States, the states or subordinate units of
government of the state that is included in taxable income reported on SCHEDULE G
LINE 1. Net operating losses carried forward are to be reported on this
page 1, line 1. line. There is no provision for carrying back losses to prior tax years.
COLUMN 2, LINE 8. If you reported dividend income, enter on this line Carryover losses are to be allocated to Walker at the percentage of
the amount of the dividend-received deduction allowed by the federal business conducted in Walker in the year in which the loss was
Internal Revenue Code for dividends received. sustained. If all business was not conducted in Walker in the year in
COLUMN 2, LINE 9 AND LINE 10. Taxpayers may deduct income, war which the loss was sustained, use the business allocation percentage
profits and excess profits taxes imposed by foreign countries or formula to arrive at the deductible portion of the loss. Attach a schedule
possessions of the United States, allocable to income included in showing your computation for the amount reported on this line.
taxable net income, any part of which would be allowable as a deduction LINE 2. Enter on this line the net capital loss carryover applicable to
in determining federal taxable income under the applicable provisions of Walker. Net capital losses sustained by a corporation for periods
the federal Internal Revenue Code. subsequent to January 1, 1988 may be carried forward in the same
If a foreign tax credit, rather than a foreign tax deduction, was claimed manner as under the federal Internal Revenue Code. No deduction will
on your federal return, enter on line 9 the portion of the foreign tax credit be allowed for capital losses sustained prior to January 1, 1988. If all
which was grossed up and included in your Walker return as dividends business was not conducted in Walker in the year in which the loss was
sustained, use the business allocation percentage formula to arrive at
received. the deductible portion of the loss. Attach a schedule showing your
Enter on line 10 the "foreign taxes paid or accrued" portion of the foreign computation for the amount reported on this line.
tax credit claimed on your federal return, not in excess of the federal Corporations who are partners in a business activity taxed as a
limitations thereon. The balance of your foreign tax credit is not LINE 3.
partnership that has business activity in Walker must enter on this line
deductible. their portion of the Walker taxable income or loss from the
COLUMN 2, LINE 11. Enter on line 11 the nontaxable portion of a gain partnership(s). Attach a schedule showing your computation for the
from the sale or exchange of property acquired prior to January 1, 1988. amount reported on this line including the name and taxpayer
The portion of the gain occurring prior to the inception of the Ordinance identification number of the partnership(s).
is not recognized. Refer to the instructions for Schedule C, column 1,
line 1 for computation instructions. INFORMATION AND PREPARER AUTHORIZATION
Disclosure. If the “Yes” box is marked, the corporation is authorizing
Capital gains from U.S. Government obligations included in income the Walker Income Tax Department to call the preparer to answer any
reported on page 1, line 1 are not taxable. Remove these gains by questions that may arise during the processing of its return. The
corporation is also authorizing the preparer: to give the Department any
including them in the amount reported on line 11. information that is missing from the return; to call the Department for
COLUMN 2, LINE 12. Enter income from entities filing as partnerships information about the processing of the return or the status of any
that are included in taxable income reported on page 1, line 1. Attach a related refund or payments; and to respond to certain notices that the
schedule showing the name and FEIN of the partnership(s). corporation has shared with the preparer about math errors, offsets and
return preparation.
SCHEDULE D
The business allocation percentage formula must be used by DECLARATION AND PAYMENT OF ESTIMATED TAX
corporations with business activity both within and outside the City of 1. WHO MUST FILE: Every corporation subject to the tax on all or part
Walker who have not been approved to use the separate accounting of its net profits must file a Declaration of Estimated Income Tax
method. If a corporation has a property and payroll percentage that is (Form W-1120ES). A Declaration is not required from corporations if
100% Walker, you do not have business activity outside the City of the estimated tax is two hundred fifty dollars ($250.00) or less.
LINE 1a. Enter in column 1 the average net book value of all real and
Walker and may not allocate sales. Enter 100% on Schedule D, line 5. 2. WHEN AND WHERE TO FILE AND PAY:
tangible personal property owned by the business, regardless of A. Declaration for Calendar Year. The Declaration for a calendar year
location, and in column 2 show the net book value of the real and must be filed on or before April 30th of that year. The estimated
tangible personal property owned and located or used in the City of tax is payable in equal installments on or before April 30th, June
Walker. The average net book value of real and tangible personal 30th, September 30th and January 31st.
property may be determined by adding the net book values at the B. Declaration for Fiscal Year: The Declaration for a year, or period
beginning of the year and the net book values at the end of the year and differing from the calendar year must be filed within four (4)
dividing the sum thus obtained by two. months after the beginning of each fiscal year or period. For
LINE 1b. Enter in column 1 the gross annual rent multiplied by 8 for all example, if a fiscal year begins on April 1st, the Declaration will be
rented real property regardless of location. In column 2 show the gross due on July 31st. Remaining installments will then be due on the
annual rent multiplied by 8 for rented real property located in the City of last day of the 6th, 9th and 13th months after the beginning of the
Walker. Gross annual rent refers to real property only, rented or leased fiscal year.
during the taxable period, and should include the actual sums of money C. Filing and Payment: The Declaration should be filed with the
or other consideration paid, directly or indirectly, by the taxpayer for the Walker City Income Tax Department, P.O. Box 153, Grand
use or possession of such property. Rapids, MI 49501-0153. The first installment payment must
LINE 2. Enter in column 1 the total compensation paid to all employees accompany the Declaration. The estimated taxth may be paid in full
during the year, and in column 2 show the amount of compensation paid with the Declaration due on or before April 30 of the tax year.
to employees for work or services performed within the City of Walker
during the year. ASSISTANCE
LINE 3. Enter in column 1 the total gross revenue from all sales or If you have questions, would like to request forms, or need assistance in
services rendered during the year, and in column 2 show the amount of preparing your return call (616) 791-6880. Questions by mail should be
revenue derived from sales made or services rendered in the City of directed to: Walker City Income Tax Department, P.O. Box 153, Grand
Walker during the year. If there is no regularly maintained sales force Rapids, Michigan 49501-0153.
outside of the city, this allocation factor must be 100% for businesses
with no other business activity outside the city. WEBSITE
Separate Accounting - The taxpayer may petition for, or the Income tax forms, instructions and additional information are available
administrator may require, use of the separate accounting method. If under the Income Tax Department section of the City of Walker website,
such method is petitioned, the administrator may require a detailed www.walkermi.gov
statement to determine whether the net profits attributable to the city will
be apportioned with reasonable accuracy. NOTICE
Generally, a corporation that is unitary in nature (i.e., has central These instructions are interpretations of the Walker Income Tax
management, purchasing, warehousing, advertising, etc.) cannot use Ordinance. The Ordinance will prevail in any disagreement between the
separate accounting. Taxpayers allocating on any basis other than instructions and the Ordinance.
separate accounting shall include all interest, dividends and other non-
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