SCHEDULE X—RECONCILIATION WITH FEDERAL INCOME TAX RETURN
| 1. | Federal taxable income before net operating losses and special deductions per attached federal return (form 1120 Line 28; form 1120S, Schedule K, Line 18; form 1065, Schedule K, Page 6, Line 1; form 1041, Line 17; 990T, Line 5; form 1120-REIT, Line 21) | 1 | |
| 2. | Items not deductible ( from line 6 below ) | 2 | |
| 3. | Items not taxable (from line 7 below) | 3 |
(
)
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| 4. | Subtract line 3 from line 2 and enter the result here | 4 | |
| 5. | Municipal taxable income before NOL (add lines 1 and 4. Enter result on Page 1, Line 1) | 5 |
| ITEMS NOT DEDUCTIBLE | ||
|---|---|---|
| 6. Capital losses and IRC §1231 losses | ||
| Taxes based on income | ||
| Expenses attributable to intangible income (5% of total intangible income, excluding capital gains) | ||
| Amounts paid or accrued to a qualified self-employed retirement plan, health and life insurance plans for current or former partners, shareholders or members (ORC §718.01(E)(10)) | ||
| Charitable contributions, §179 expense deducted above C-Corporation limits | ||
| Depreciation recovery (non-C corporations are subject to IRC §291 depreciation recovery on §1250 property) | ||
| Loss incurred from a pass-through entity owned directly or indirectly by a taxpayer and included in the taxpayer’s federal taxable income unless the loss is included in the net profit of an affiliated group (ORC §718.01(E)(10)) | ||
| Pass-thru entity deductions not permissible as a C Corporation deduction (e.g. §163(j) interest expense and §754 basis adjustments.) | ||
| Other – Attach documentation or explanation | ||
| TOTAL – Enter on Line 2 above | 6 | |
| ITEMS NOT TAXABLE | ||
|---|---|---|
| 7. Capital gains and IRC §1231 gains (do not include IRC §1245 and §1250 gains) | ||
| Dividend income | ||
| Interest income | ||
| Other intangible income as defined in ORC §718.01(S) | ||
| Net profit of a pass-through entity owned directly or indirectly by a taxpayer and included in the taxpayer’s federal taxable income unless the net profit is included in the net profit of an affiliated group ORC §718.01(E)(9) | ||
| Other – Attach documentation or explanation | ||
| TOTAL – Enter on Line 3 above | 7 | |
SCHEDULE Y—BUSINESS APPORTIONMENT FORMULA
(A factor may be excluded only when that factor does not exist anywhere)
Schedule Y columns are shown as labelled fields.
| A. Located Everywhere | B. Located in Oakwood |
0.0000%
Col B / Col A
|
||
|---|---|---|---|---|
| STEP 1. | Average original cost of real and tangible personal property | |||
| Gross annual rents paid multiplied by 8 | ||||
| TOTAL STEP 1 | % | |||
| STEP 2. | Qualifying wages, salaries, and other compensation paid (Do not include contract labor) | % | ||
| STEP 3. | Gross receipts from sales made and services performed | % | ||
| STEP 4. | Total percentages (Add percentages from Steps 1-3) | % | ||
| STEP 5. | Average percentage (Divide total percentage by number of percentages used – Enter on Page 1, Line 4) | % | ||
| 8. Total wages, salaries and other compensation excluded in Step 2 above due to ORC 718.011. | Everywhere | $ |
| Oakwood | $ | |
|
9. Were any employees leased during the year covered by this return? If yes, attach statement providing name, address and federal identification number of the leasing company. |
YES NO | |