Business Income Tax Return

Auditor Kelly Carr
Marion City Income Tax Return - BUSINESS 233 West Center Street Marion, Ohio 43302 740-387-6926
Hours 8 a.m. to 5:00 p.m. Monday Through Thursday Friday 8:00 a.m. to 1:00 p.m. Closed Saturday
If you do not anticipate having taxable income next year indicate your reason on your return and we will close your account
Taxable Period Beginning ____________________ and Ending _______________________ FOR CALENDAR YEAR 2012 - Due on or before April 15th, 2013
If the address caption is not correct please make any necessary changes
TAX OFFICE USE ONLY
Name: C/O Address: City: Use your City Account Number
1. Adjusted Federal Taxable Income (Schedule 1, Line 14 or Schedule 3 Line 22) 2. Taxable Income From Pass-Through Entities you own (excluding S Corporations) 3. Taxable Income (Add lines 1 and 2) 4. Tax (Multiply Line 3 by 1.75%) 5. Credit for Tax Paid by Pass-Through Entities (excluding S Corporations) 6. Estimated Tax Payments and Credits At the time of printing your estimated tax payments and credits were 7. Total Credits (Add Lines 5 & 6) 8. Tax Due/(Overpayment) (Subtract Line 7 from Line 4) 9. Overpayment is to be: a. Apply credit to next year's estimated tax b. Refunded $ $ $ $ $
$ $ $ $
$ $
10. NOT Penalty $__________ plus Interest $____________ plus IS U , IF TH OV RPAYMTax Due SS THAN $ .00 NO Late IF TH A ANC U IS SS THAN $ .00 NO PAYM NT Tax Due $___________ = NT IS $ REFUND INCOM TAX FOR C ARATION OF STIMAT MARION, OHIO CITY WILL BE ISSUED. CA N AR Y AR OR FISCA Y AR FROM _________________, THROUGH ________________ Declaration required only if estimated tax due (line 13) is $200.00 or more estimated taxable income (Salaries, Wages, Commissions, etc., before payroll deductions) and/or (estimated net profits) 11. Total income subject to tax $________________ multiply by 2.0% $ 12. Estimated Tax Paid by Pass-Through Entities (Except S Corporations) on your behalf 13. Net Tax Due (line 13 less Line 14) 14. First installment of declaration (not less than 1/4 of line 15)
15. Less overpayment from line 9A above: ($______________) = Balance due with return:
$ $ $
$
UNDER PENALTIES 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. DECLARATION OF PREPAPER (OTHER THAN TAXPAYER) IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
DATE:_________________________
_______________________________________
Signature of Taxpayer/Agent
__________________________ Social Security Number or Federal ID Number __________________________ Social Security Number or Federal ID Number
Signature of Preparer Preparer ID No. ________________________
__________________________________
Signature of Taxpayer/Agent
_______________________________________
Schedule 1 - C CORPORATIONS, REAST ESTATE INVESTMENT TRUSTS AND REGULATED INVESTMENT COMPANIES. DO NOTE INCLUDE AMOUNTS FROM PASS-THROUGH ENTITIES. IF YOU OWN ANY PASS TRHOUGH ENTITIES, ADJUST THE AMOUNTS ENTERED BELOW TO ELIMINATE AMOUNTS FROM PASSTROUGH ENTITIES. ATTACH A COPY OF SCHEDULE K-1. YOUR SHARE OF A PASS-TRHOUGH ENTITY'S TAXABLE INCOME ATTRIBUTIBLE TO MARION SHOULD BE REPORTED TO YOU BY THE PASS-THROUGH ENTITY AND REPORTED ON LINE 2 OF YOUR RETURN.
1. Taxable Income before Net Operating Loss and Special Deductions (attach Page 1 of Federal Return) 2. Deduct Intangible Income not related to asses 2A. Dividends 2B. Interest 2C. Royalties 2D. Total (Add Lines 2A, 2B and 2C) 3. Deduct Capital Gains 4. Deduct Gain Reported on Federal Form 4797, Line 12 (Attach Form 4797) 5. Total Deductions (Add Lines 2D, 3 and 4) 6. Subtotal (Subtract Line 5 from Line 1) 7. Add 5% (.05) of line 2D 8. Add Loss reported on Federal Form 4797, Line 11 (Attach Form 4794) 9. Add Taxes based on Income (Attach Schedule of Taxes Deducted from the Federal Return) *Note whether Franchise Taxes were paid on the net income or net worth basis 10. If a real estate investment trust or regulated investment company, dividends and distributions to owners allowed as a deduction for Federal Income Tax 11. Total Additions (Add Lines 7, 8, 9 and 10) 12. Adjusted Federal Taxable Income (Add Lines 6 and 11) 13. Allocation % (Schedule 2, Line 12) 14. City Taxable Income (Multiply Line 12 by Line 13. Enter result on Line 1 of Return) $ $ $ $ $ $ $
$ $ $ $ $
$ $ $ $
Schedule 2 - Business Allocation Formula In determining the portion of net profits of a business earned within the city, the taxpayer shall use an allocation formula based on property, sales and payroll. The taxpayer may use an actual accounting of net profits earned. Average Value of Property Property Located in Marion Property Located Everywhere Beginning of Year End of Year Beginning of Year End of Year 1. Real Property at Original Cost 2. Tangible Personal Property at Original Cost 3. Total Real and Tangible Property add Line 1 & 2 4. Total of Beginning and End of Year Totals 5. Average Value of owned property (line 4 divided by 2) 6. Rented property (Value at 8 x Annual Rental) 7. Average Value - Add Lines 5 & 6 Calculation of Taxable Portion 8. Property Factor (line7) 9. Sales Factor 10. Payroll Factor 11. Add the percentages from Lines 8, 9 & 10 12. Allocation % (divide line 11 by the number of factors used - a factor with a zero in the "everywhere" column is not used) Schedule 3 - Business/Rental Income - Partnerships, S Corporations and Other Entities DO NOT INCLUDE AMOUNTS FROM OTHER PASS-THROUGH ENTITIES YOU MAY OWN. If you own any Pass-Through Entities, adjust the amounts entered below to eliminate amounts from other Pass-Through Entities. Attach a copy of Schedules K-1. Another Pass-Through Entity's Taxable Income attributable to Marion should be reported to you by the Pass-Through Entity and reported on Line 2 of your return. 1. Ordinary Income (Attach Page 1 and Schedule K of Federal Return) IF YOU ARE USING ACTUAL ACCOUNTING FOR RENTAL ACTIVITIES SKIP LINES 2 & 3 2. Income (loss) from Rental Real Estate 3. Income (loss) from other Rentals 4. Guaranteed Payments to Partners 5. Other Income 6. Subtotal - Add lines 1 through 5 7. Charitable Contributions 8. Section 179 Deduction 9. Deductions related to portfolio income 10. Other Deductions if Deductible by a C Corporation (Attach Schedule) 11. Total Deductions - Add lines 7 through 10 12. Subtotal - Subtract Line 11 from Line 6 13. Add 5% of intangible income not related to disposition of capital assets 13a. Interest 13b. Dividends 13c. Gross Royalties 13d. Other Portfolio Income 13e. Add lines 13a, 13b, 13c, & 13d 13f. Multiply line 13e by 5% 14. Add taxes based on income (Attach Schedule detailing taxes deducted on Federal Return) 15. If included as a deduction on any previous line, add back amounts deducted for Qualified Self-Employed Retirement Plans, Health Insurance and/or Life Insurance for an Owner/Employe $ 16. Total Additions - add lines 13f, 14 and 15 17. Adjusted Federal Taxable Income - Add lines 12 and 16 18. Allocation % (Schedule 2) 19. Subtotal - Multiply Line 17 by Line 18 (If you included your rental activities on Lines 2 and 3 above, skip lines 20 & 21 and enter amount on Line 19 on Line 22) 20. Income (loss) from Rental Real Estate (Attach Federal Form 8825) 21. Income (loss) from other Rentals (Attach detail of actual accounting) 22. City Taxable Income - Add Lines 19, 20 & 21 (enter result on line 1 of your return) $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Within Marion Everywhere Percentage

Business Income Tax Return

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Business Income Tax Return

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Auditor Kelly Carr

TAX OFFICE USE ONLY

Name: C/O Address: City: Use your City Account Number

Signature of Preparer Preparer ID No. ________________________

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