Adobe Acrobat File:20021120.PDF
This document is a text-only version of the original Adobe Acrobat file. Graphics and formatting may be lost in the conversion from pdf to html.
View the Adobe Acrobat version of this file.
CITY OF MUSKEGON
2002 CORPORATION INCOME TAX RETURN
INSTRUCTIONS FOR FORM M-1120 FOR CORPORATIONS
DOING BUSINESS IN MUSKEGON
FILING DATE: Line 1b. Optional method of reporting. REQUIRES PRIOR
Calendar year taxpayers must file by April 30, 2003. Fiscal year APPROVAL OF THE INCOME TAX ADMINISTRATOR. Enter the
taxpayers must file within four (4) months after the end of their amount from Page 2, Schedule C, Line 30. Corporations reporting on
fiscal year. the Separate Accounting Method (Schedule C option) are required to
complete Schedule C on Page 2 and report the income on Line 1 b of
REMITTANCE: Page 1. See instructions for completing Schedule C.
Tax due, if one dollar ($1.00) or more, must be paid when filing the
return. Make remittance payable to: CITY OF MUSKEGON. Line 2. Enter the amount from Page 2, Schedule E, Column 1, Line 5.
The items deducted on the federal return which are not deductible
MAILING ADDRESS: under the Muskegon Income Tax Ordinance.
Mail your return and remittance to:
INCOME TAX DEPARTMENT Line 4. Enter the amount from Page 2, Schedule E, Column 2, Line
P.O. BOX 29 12. The items that are not taxable or are allowable deductions under
MUSKEGON, Ml 49443-0029 the Muskegon Income Tax Ordinance but were not deductible on the
federal return.
EFFECTIVE DATE OF TAX:
The Muskegon income tax became effective July 1, 1993. Line 6. Enter the amount of gain or loss from sale or exchange of
Corporations subject to the tax are required to file a return each year, property not subject to Muskegon Income Tax. Only the amount of
commencing with their first year, calendar or fiscal, ending on or after gain or loss occurring from July 1, 1993, or the date the corporation
July 1, 1993, and are required to pay the tax on that part of their net became subject to the tax, to the date of disposition shall be
income attributable to business activity in Muskegon. recognized under the Muskegon income tax.
CORPORATIONS REQUIRED TO FILE: Line 8. Enter the Business Allocation Percentage from Page 2,
Every corporation doing business in the City, whether or not it has an Schedule D, Line 5, or if the use of a special allocation has been
office or place of business in the City, and whether or not it has net approved by the administrator, enter the allocation percentage and
profits, is required to file a City of Muskegon Corporation Income Tax attach an explanation.
return, Form M-1120.
Line 10. Enter on this line the net capital loss carryover and net
Corporations cannot elect to file and be taxed as partnerships. operating loss carryover applicable to Muskegon. Net operating
(Likewise, partnerships cannot elect to file and be taxed as losses sustained after July 1, 1993, may be carried forward up to 15
corporations.) This includes Sub-Chapter S Corporations. years following the loss year.
The ordinance specifically exempts from taxation state and national Corporation carryover losses are to be allocated to Muskegon at the
banks, trust companies, building and loan associations, saving and percentage of business conducted in Muskegon in the year in which
loan associations, and credit unions. the loss was sustained. If all the corporation's business was not
conducted in Muskegon in the year in which the loss was sustained,
Income of non-profit corporations which have applied for and received use the business allocation percentage formula to arrive at the
tax-exempt status under the Internal Revenue Code (IRC) is tax- deductible portion of the loss. If you did not allocate the loss reported
exempt or taxable, in the case of unrelated business taxable income, on prior years'returns and you did not conduct 100% of your business
as per the IRC. Non-profit corporations having tax-exempt status who in Muskegon, attach a schedule showing your computation for the
have only tax-exempt income are not required to file a Muskegon amount reported on this line. No deduction will be allowed for net
return provided they submit, to the Administrator, a copy of their operating losses sustained prior to July 1,1 993.
exemption approval from the Internal Revenue Service. Line 12. Corporations qualified to claim the Renaissance Zone
FILING DATE: deduction calculate the tax due on Schedule RZ of M-1120. Be certain
Calendar year taxpayers are required to file by April 30, 2003. Fiscal to attach Schedule RZ to the M-1120. All other corporations compute
year taxpayers must file by the last day of the fourth month following the tax due at 1% of line 11.
the end of their fiscal year. Returns shall be filed using the same
calendar year, fiscal year or other accounting period the taxpayer uses RENAISSANCE ZONE DEDUCTION:
for federal income tax purposes. A corporation located and doing business in a Muskegon
Renaissance Zone may be eligible to claim the new Renaissance
EXTENSIONS: Zone deduction. This deduction allows the corporation to deduct the
Upon written request of the taxpayer, made on or before the due date portion of their income earned in a Muskegon Renaissance Zone from
for filing a return, the Administrator may extend the time for filing up to income subject to Muskegon income tax. A taxpayer is not qualified to
six months, or, where a longer extension has been granted by the claim the deduction if the corporation is delinquent for any Michigan or
Federal Internal Revenue Service, to one month beyond such local taxes. A Muskegon income tax return must be filed to claim
extension. Payment of the tentative tax estimated to be due must this deduction. Contact the Income Tax Department to request
accompany an extension request. Schedule RZ.
When an extension is granted, the Administrator will assign an SCHEDULE C - INSTRUCTIONS:
extension number. This number is to be entered on the final return and Taxpayers authorized to use the Separate Accounting Method, Sec.
on any correspondence required before filing the final return. 19 of the Ordinance, as amended, rather than the three factor
apportionment formula, Secs. 20-24, will enter only the amounts
INSTRUCTIONS FOR PAGE 1: applicable to Muskegon business activity in Schedule C. To report
under the separate accounting method, the taxpayer must regularly
Line 1 a. Report the taxable income before net operation loss keep its books and records in such a manner as to show with
deduction and special deductions as shown on U.S. Corporation reasonable accuracy the portion of its net profits attributable to work
Income Tax Return, Form 1120, 1120-Aor 1120S. Attach a copy of the done, services performed or rendered, and other business activities
Federal 1120, or 1120S and Schedule K, as filed with the Internal conducted within the city. Generally a corporation that is unitary in
Revenue Service. nature, i.e. has central management, purchasing, warehousing,
advertising, etc., cannot use separate accounting.
INSTRUCTIONS PAGE 1
Line 15 - Depreciation. Use the same basis and method as used for Line 7. If you reported dividend income, enter on this line the amount
Federal income tax reporting. of the dividend-received deduction allowed by the Federal Internal
Revenue Code for dividends received.
Line 16 - Contributions. Contributions are deductible to the same
extent, and under the same limitations, as under the Federal Internal Line 8. Taxpayers may deduct income, war profits and excess profits
Revenue Code. taxes imposed by foreign countries or possessions of the United
States, allocable to income included in taxable net income, any part of
Lines 24 and 25 - Dividends and Interest. Taxpayers allocating on any which would be allowable as a deduction in determining federal
basis other than separate accounting shall include all interest, taxable income under the applicable provisions of the Federal Internal
dividends, and other non-operating income to arrive at the total Revenue Code.
income subject to the allocation percentage. Taxpayers using
separate accounting shall include in income subject to tax a If a foreign tax credit, rather than a foreign tax deduction was taken on
proportionate share of dividends, interest, and other non-operating your federal return, enter on line 8 the portion of the foreign tax credit
income of the total corporation, using a direct allocation if the income which was grossed up and included in your Muskegon return as
is received by the divisions subject to the Muskegon tax, or dividends received and enter on line 11 the "foreign taxes paid or
apportioning it on the same basis as general administrative and accrued" portion of the foreign tax credit claimed on your federal
overhead costs are apportioned to Muskegon activity. return, not in excess of the federal limitations thereon. The balance of
your foreign tax credit is not deductible.
Line 26 - Income. Rents and Royalties. Follow the same instructions
here as for dividends and interest above. SCHEDULE F:
S corporations must file as C corporations. Schedule F is used to
Line 27 - Gain or Loss from Sale or Exchange of Property. Enter the reconcile the amount reported on line 1, page 1 M-1120 with federal
total amount of gain or loss from sale or exchange of property for the Form 1120S and Schedule K.
same period as reported in this schedule. Only the amount of the gain
or loss occurring from July 1, 1993, or the date the corporation COMPUTATION AND PAYMENT OF TAX:
became subject to the tax, to the date of disposition shall be
recognized under the Muskegon income tax. After computing the Muskegon income tax and deducting allowable
credits, if there is any tax due, it must be paid when filing this return.
SCHEDULE D - INSTRUCTIONS: Make check or money order payable to CITY OF MUSKEGON and
mail with this return to the INCOME TAX DEPARTMENT, P.O. BOX
The business allocation percentage formula is to be used by 29, MUSKEGON, Ml 49443-0029. If your payments and credits
corporations with business activity both inside and outside the City of exceed the tax due, the over-payment will be refunded or it may be
Muskegon . credited forward to the 2003 tax.
Line 1. Enter in Column 1 the average net book value of all real and Refunds will be made as quickly as possible, but please allow 90 days
tangible personal property owned by the business, regardless of before making an inquiry. Refunds of less than one dollar ($1.00) will
location. In Column 2 enter the net book value of the real and tangible not be made. Tax due of less than one dollar ($1.00) need not be paid.
personal property owned and located or used in the City of Muskegon.
The average net book value of real and tangible personal property DECLARATION AND PAYMENT OF ESTIMATED TAX:
including inventories may be determined by adding the net book
values at the beginning of the year and the net book values at the end 1. WHO MUST FILE:
of the year and dividing the sum thus obtained by two.
Every corporation subject to the tax on all or part of its net profits
Line 1a. Enter in Column 1 the gross annual rent multiplied by 8 for must file a Declaration of Estimated Income Tax (Form M1040ES).
all rented real property regardless of location. In Column 2 enter the A Declaration is not required from a corporation if the estimated tax
gross annual rent multiplied by 8 for rented real property located in the is TWO HUNDRED FIFTY DOLLARS ($250.00) or less.
City of Muskegon. Gross annual rent refers to real property only,
rented or leased during the taxable period, and should include the 2. WHEN AND WHERE TO FILE AND PAY:
actual sums of money or other consideration payable, directly or
indirectly, by the taxpayer for the use or possession of such property. A. Calendar Year Corporations: The Declaration for a calendar
year must be filed on or before April 30th of that year. The
Line 2. Enter in Column 1 the total compensation paid to all estimated tax is payable in equal installments on or before April
employees during the year. In Column 2 enter the amount of 30, June 30, September 30, and January 31.
compensation paid to employees for work or services performed
within the City of Muskegon during the year. B. Fiscal Year Corporations: The Declaration for a year, or period
differing from the calendar year must be filed within four (4)
Line 3. Enter in Column 1 the total gross revenue from all sales or months after the beginning of each year or period. Remaining
services rendered during the year. In Column 2 enter the amount of installments will then be due on the last day of the 6th, 9th, and
revenue derived from sales made or services rendered in the City of 13th months after the beginning of the fiscal year. For example,
Muskegon during the year. If there is no regularly maintained sales if your fiscal year begins on April 1, your Declaration will be due
force outside the city, this allocation factor must be 100% for on July 31 and installments will be due on September 30,
businesses with no other business activity outside the city. December 31 and April 30.
SCHEDULE E - INSTRUCTIONS: C. Filing and Payment: The Declaration should be filed with the
INCOME TAX DEPARTMENT, 933 TERRACE, P.O. BOX 0029,
Line 1. Use this line to adjust net profit for those items reflected in the MUSKEGON, Ml 49443-0029. The first installment payment
taxable period which are attributable to any period prior to being must accompany the Declaration. However, the estimated tax
subject to the Muskegon Income Tax. may be paid in full with the Declaration.
Line 2. You must have a figure here if you deduct substantial amounts Assistance:
on 6, 7 and 8 of this schedule.
If you have any questions not answered by these instructions, or if you
Line 6. The Muskegon City Income Tax Ordinance provides for need assistance in preparing your return, please call (231) 724-6770.
the specific exclusion from the tax of interest from obligations of the You may write or visit our office located in City Hall, 933 Terrace,
United States, the states or subordinate units of government of Muskegon, Michigan 49440.
the states. Forms available online at: www.shorelinecity.com/incometax.asp
INSTRUCTIONS PAGE 2
2002 CITY OF MUSKEGON M-1120
CORPORATION INCOME TAX RETURN
FOR CALENDAR YEAR 2002 OR OTHER TAXABLE PERIOD BEGINNING_____________________, 2002 AND ENDING_____________________, 20 _____.
IDENTIFICATION AND INFORMATION
NAME OF CORPORATION WHERE INCORPORATED
DATE INCORPORATED
PLEASE NUMBER AND STREET NATURE OF BUSINESS
TYPE
OR TELEPHONE NUMBER
PRINT CITY, TOWN OR POSTOFFICE MAIN ADDRESS IN MUSKEGON
FEDERALEMPLOYER IDENTIFICATION NUMBER
IS THIS A CONSOLIDATE RETURN? I YES I NO IF YES, LISTNAMES AND ADDRESSES OF INCLUDED CORPORATIONS IN AN ATTACHED STATEMENTSHOWING FORAUDITUSEONLY
A. PERCENTOF VOTING STOCK OWNED IN EACH CORPORATION.
B. LISTADDRESSES OF MUSKEGON LOCATIONS INCLUDED IN THIS RETURN
WAS YOUR FEDERAL TAX LIABILITYFOR ANYPRIOR YEAR ENDING AFTER 7/1/93 CHANGED BYEITHER A REVIEW BYTHE FEDERALGOVERNMENTOR THE FILING OF AN
C. AMENDED FEDERALRETURN? I YES I NO IF YES, ATTACH AN EXPLANATION IF AN AMENDED MUSKEGON RETURN WA NOTFILED.
D. NAMEANDADDRESSOFRESIDENTAGENTINMICHIGAN
TAXABLE iNCOME AND TAX COMPUTATION
a. TAXABLE INCOME BEFORE NETOPERATING LOSS DEDUCTION AND SPECIALDEDUCTION PER U.S. CORPORATION INCOME TAX RETURN FORM 1120, 1120-AOR 1120S.
1. ATTACH A COPYOF FEDERALFORM 1120, 1120-AOR 1120S AND SCHEDULE K AS FILED WITH THE IRS.
b.INCOME FROM PAGE 2, SCHEDULE C, LINE 29 (SEPARATE ACCOUNTING METHOD) (PRIORAPPROVALREQUIRED)
2. ENTER ITEMS NOTDEDUCTIBLE UNDER MUSKEGON INCOME TAX ORDINANCE (FROM PAGE 2, SCHEDULE, COLUMN 1, LINE 5)
3. TOTAL(ADDLINES 1 AND2)
4. ENTER ITEMS NOT TAXABLE UNDER MUSKEGON INCOME TAX ORDINANCE (FROM PAGE2, SCHEDULE E, COLUMN2, LINE12)
5. TOTAL(LINE 3 AND 4)
6. ENTER AMOUNTOF GAIN OR LOSS FROM SALE OR EXCHANGE OF PROPERTYAPPLICABLE TO PERIOD NOTSUBJECT TOTAX (ATTACHSCHEDULE)
7. TOTALINCOME (ADDLINES 5 AND6)
ALLOCATION PERCENTAGE FROM PAGE 2, SCHEDULE D, LINE5 (IFALLBUSINESS WAS CONDUCTED IN MUSKEGON, ENTER 100% ON LINE 8 AND DO NOTFILLIN
8. SCHEDULED D ON PAGE 2) %
9. TOTALALLOCATED INCOME (MULTIPLY LINE 7 BYLINE8)
10. LESS: APPLICABLE NETOPERATING LOSS CARRY-OVER AND/OR CAPITALLOSS CARRY-OVER (SEEINSTRUCTIONS)
11. TOTALINCOME SUBJECT TOTAX (LINE9 LESS LINE 10)
12. CITYOF MUSKEGON INCOME TAX DUE (MULTIPLY LINE 11 BY1%) $
PAYMENTS AND CREDITS
13. a. TAX PAID WITH TENTATIVE RETURN $
b. PAYMENTS ON DECLARATION OF ESTIMATED MUSKEGON INCOME TAX
c. OTHER CREDITS (EXPLAININ ATTACHED STATEMENT)
14. TOTAL PAYMENTS AND CREDITS (ADDLINES13a, b ANDc) $
BALANCE DUE OR REFUND
15. IF THE TAX DUE (LINE12) IS LARGER THAN THE PAYMENTS (LINE14), ENTERBALANCE DUE. MAKE REMITTANCE PAYABLE TO:CITYOFMUSKEGON. MAIL TO: INCOME
TAX DEPARTMENT, P.O. BOX 29, MUSKEGON, MICHIGAN 49443-0029. $
16. IF THE PAYMENTS (LINE14) ARE LARGER THAN THE TAX DUE (LINE12), ENTEROVERPAYMENT TO BE REFUNDED. $
17. IF THE PAYMENTS (LINE14) ARE LARGER THAN THE TAX DUE (LINE12), ENTEROVERPAYMENT TO BE CREDITED TO 2003 ESTIMATED TAX $
MAIL TO: INCOME TAX DEPARTMENT, P.O. BOX 29, MUSKEGON, MICHIGAN 49443-0029
I DECLARE THAT I HAVE EXAMINED THIS RETURN (INCLUDING ACCOMPANYING SCHEDULES) AND TO THE BESTOF MYKNOWLEDGE AND BELIEF, ITIS TRUE, CORRECTAND
COMPLETE. IF PREPARED BY A PERSON OTHER THAN THE TAXPAYER, THIS DECLARATION IS BASED ON ALLINFORMATION OF WHICH THE PREPARER HAS MYKNOWLEDGE.
I I AUTHORIZE THE INCOME TAX DEPARTMENT TO DISCUSS THIS RETURN AND ATTACHMENTS WITH THE PREPARER.
SIGN DATE SIGNATURE OF OFFICER TITLE PHONE
HERE DATE INDIVIDUALOR FIRM SIGNATURE OF PREPARER ADDRESS PHONE
PAGE 1
SCHEDULE C - PROFIT (OR LOSS) FROM BUSINESS
PERIOD: FROM TO
ENTERPERIODCOVEREDAND CHECK APPROPRIATE BOX TO INDICATE DATA USED FOR SCHEDULE C. I SEPARATE ACCOUNTING METHOD I INCLUDES OPERATIONS ATALLLOCATIONS
INCOME BUSINESS DEDUCTIONS
1. GROSSRECEIPTS $ 12. COMPENSATION OF OFFICERS $
2. LESS: RETURNS AND ALLOWANCES 13. SALARIES AND WAGES - NOTDEDUCTED ELSEWHERE
3. NETRECEIPTS - LINE 1 LESS LINE 2 14. RENTS
COST OF GOODS SOLD 15. DEPRECIATION
4. INVENTORYAT BEGINNING OF PERIOD 16. CONTRIBUTIONS
5. MERCHANDISE BOUGHTFOR MANUFACTURING/SALE 17. TAXES
6. SALARIES AND WAGES 18. INTEREST
7. OTHER COSTS (ATTACHSTATEMENT) 19. REPAIRS
8. TOTAL- LINES 4 THROUGH 7 20. BAD DEBTS
9. LESS: INVENTORYAT END OFPERIOD 21. OTHER (ATTACH STATEMENT)
10. COSTOF GOODS SOLD - LINE 8 LESS LINE 9 22. TOTALBUSINESS DEDUCTIONS - ADD LINES 12 THROUGH 21
11. GROSS PROFIT- LINE 3 LESS LINE 10 23. NETPROFITOR LOSS - LINE 11 LESS LINE 22
24. DIVIDEND INCOME
25. INTERESTINCOME
26. INCOME FROM RENTS AND ROYALTIES
27. GAIN OR LOSS FROM SALE OR EXCHANGE OF PROPERTY(SEEINSTRUCTIONS)
28. OTHER INCOME
29. TOTALINCOME - ANDLINES24 THROUGH 28 ENTERHEREANDON PAGE 1, LINE 1b
SCHEDULE D - BUSINESS ALLOCATION FORMULA
COLUMN 1 COLUMN 2 COLUMN 3
LOCATED LOCATED IN PERCENTAGE
EVERYWHERE MUSKEGON (COLUMN 2 DIVIDED BY
COLUMN1)
1. a. AVERAGE NETBOOK VALUE OF REALAND TANGIBLE PERSONALPROPERTY $ $
b.GROSS ANNUALRENT PAID FOR REALPROPERTYONLY, MULTIPLIED BY 8
8
c. TOTALS (ADDLINES1a ANDb) %
2. TOTAL WAGES, SALARIES, COMMISSIONS AND OTHER COMPENSATION OF ALLEMPLOYEES %
3. GROSS RECEIPTS FROM SALES MADE OR SERVICES RENDERED %
4. TOTALPERCENTAGES - ADD THE THREE PERCENTAGES COMPUTED IN COLUMN 3, LINES 1 c, 2 AND 3 (APERCENTAGE MUSTBE COMPUTED FOR EACH LINE) %
5. BUSINESS ALLOCATION PERCENTAGE (ONE-THIRD OF LINE 4) ENTERHEREANDON PAGE1, LINE 8 %
IN DETERMINING THE BUSINESS ALLOCATION PERCENTAGE (LINE5), AFACTOR SHALLBE EXCLUDED FROM THE COMPUTATION ONLY WHEN SUCH FACTOR DOES NOTEXISTANYWHERE
INSOFAR AS THE TAXPAYER'S BUSINESS OPERATION IS CONCERNED, IN SUCH CASES, THE SUM OF THE REMAINING PERCENTAGES SHALLBE DIVIDED BYTHE NUMBER OF FACTORS
ACTUALLY USED.
IN THE CASE OF ATAXPAYER AUTHORIZED BYTHE INCOME TAX ADMINISTRATOR TO USE ONE OF THE SPECIALFORMULAE, ATTACH AN EXPLANATION AND USE THE LINES PROVIDED BELOW.
a. NUMERATOR c. PERCENTAGE (a. DIVIDED b.) ENTERHEREANDON PAGE1, LINE 8
b. DENOMINATOR d. DATEOFADMINISTRATOR'S APPROVALLETTER
SCHEDULE E - ADJUSTMENTS
SCHEDULE E IS USED TO ADJUSTTHE INCOME REPORTED ON PAGE 1, LINE 1a OR 1b TO GIVE EFFECT TO THE REQUIREMENTS OF THE MUSKEGON INCOME TAX ORDINANCE. THE PERIOD OF
TIME USED TO COMPUTE ITEMS FOR SCHEDULE E MUSTBE THE SAME AS THE TIME PERIOD USED TO REPORT INCOME ON PAGE 1, LINES 1a OR1b. SCHEDULE E ENTRIES ARE ALLOWED ONLY
TO THE EXTENTDIRECTLY RELATED TO NETINCOME AS SHOWN ON PAGE 1, LINES 1a OR1b.
COLUMN 1 COLUMN 2
ADD - ITEMS NOT DEDUCTIBLE DEDUCT- ITEMS NOT TAXABLE AND ALLOWABLE DEDUCTIONS
1. ADJUSTMENTS TO INCOME RELATING TO PRIOR PERSONS $ 6. INTERESTFROM U.S. OBLIGATIONS AND FROM UNITED STATES $
SEE INSTRUCTIONS) GOVERNMENTUNITS
2. ALLEXPENSES (INCLUDINg INTEREST) INCURRED INCONNECTION 7. DIVIDENDS RECEIVED DEDUCTION
WITH DERIVATION OF INCOME NOTSUBJECT TO MUSKEGON
INCOME TAX 8. FOREIGN TAXDEDUCTION
3. MUSKEGON INCOME TAX PAID OR ACCRUED 9. JOBCREDIT
4. OTHER (SUBMITSCHEDULE) 10. ADDITIONALDEPRECIATION DUE TO INVESTMENTCREDIT
ADJUSTMENT
11. OTHER(SUBMITSCHEDULE)
5. TOTALADDITIONS (ADDLINES 1 THROUGH 4) ENTERHEREANDON $ 12. TOTALDEDUCTIONS (ADDLINES 6 THROUGH 11) ENTERHEREANDON $
PAGE1, LINE 2 PAGE1, LINE 4
SCHEDULE F - SUBCHAPTERS CORPORATION INCOME
SCHEDULE F IS USED BYSUBCHAPTER S CORPORATION TO RECONCILE THE AMOUNTREPORTED ON LINE 1, PAGE 1, M-1120, WITH FEDERALFORM 1120S AND SCHEDULE K OF
FEDERAL 1120S. ATTACH FEDERALFORM 1120S AND SCHEDULE K OF FEDERAL 1120S.
1. ORDINARY INCOME (LOSS) FROMTRADE OR BUSINESS (PERFEDERAL 1120S) $
2. INCOME (LOSS) PER SCHEDULE K, FEDERAL 1120S, LINES 2 THROUGH 6
3. TOTALINCOME (LOSS) (ADDLINES 1 AND 2)
4. DEDUCTIONS PER SCHEDULE K, FEDERAL 1120S
5. TAXABLE INCOME BEFORE NETOPERATING LOSS DEDUCTION AND SPECIALDEDUCTIONS (SUBTRACTLINE 4 AND LINE 3) ENTER HERE AND ON PAGE 1, LINE 1, M-1120 $
PAGE 2