Due Date: April 15
th
or 15
th
day of fourth month following close of Fiscal Year
Extension Date: October 15th
CITY OF MORGANTOWN NET PROFIT FEE FOR YEAR ENDING
NET PROFIT LICENSE FEE RETURN
THIS FORM MUST BE COMPLETED IN ITS ENTIRETY. IF FEDERAL ID OR SOCIAL SECURITY NUMBER IS OMITTED, THIS FORM WILL BE RETURNED TO
YOU. IF ADDRESS CHANGE APPLIES, YOU MUST CHECK THE ADDRESS CHANGE BOX.
BUSINESS NAME: BUSINESS PHONE:
BUSINESS ADDRESS: BUSINESS EMAIL:
BUSINESS FAX:
BUSINESS FEDERAL ID OR SOCIAL SECURITY: Check here if there is an address change.
CHECK IF FINAL RETURN Date Operations Ceased: (Required to close account)
ALL LICENSEES MUST ANSWER THE QUESTIONS BELOW.
A. Principle business activity:
B. Principle Owner/Administrative Officer:
Address: Phone Number:
C. Was business activity discontinued?: When?: For Dissolution For Sale/Transfer
If Sale/Transfer, state successor:
Name and Address:
D. Did you have employees in the City of Morgantown?: Yes No
E. Has City of Morgantown License fee been withheld from all subject employees and remitted quarterly in accordance with
regulations? Yes No
If answer is no, explain:
Yes No Did you make payments in the sum of $600.00 or more to any individual for services rendered in the City of
Morgantown other than an employee? (If yes, you are required to file copies of FEDERAL FORM 1099.)
ALL LICENSEES MUST COMPLETE PAGE 2 OF THIS FORM BEFORE COMPLETING THIS SECTION
20. Enter ADJUSTED NET PROFIT (From Line 15 on back of this form)
21. Enter percentage from Line 18 or 19
22. Net Profits Allocation (Line 20 x Line 21)
23. City of Morgantown License Fee (Line 22 x 2%)
24. Credits: Estimated Payments
25. Balance of License Fees Due (Line 23 minus Line 24)
26. Penalty- 5% per month, not to exceed 25%- Minimum $25.00
27. Interest- 12% per annum
28. Total Amount Due:
29. Overpayment Credit Refund
I hereby certify, under penalty of perjury, that the statements made herein and any supporting schedules are true, correct and complete to the
best of my knowledge.
Preparer Signature (Return must be signed) Date Taxpayer Signature (Return must be signed) Date
Print Name Print Name
Address Phone Number Title
Make check payable to: City of Morgantown
Mail this form along with supporting schedules to: City of Morgantown, PO Box 397, Morgantown, KY 42261
This return must be filed and paid in full by the fifteenth day of the fourth month after the close of the fiscal/calendar year unless an extension of time to file has
been granted.
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Due Date: April 15
th
or 15
th
day of fourth month following close of Fiscal Year
Extension Date: October 15th
COMPLETE THE APPLICABLE COLUMN AND ATTACH CORRESPONDING FEDERAL SCHEDULES EVEN IF A LOSS WAS INCURRED
INDIVIDUAL PARTNERSHIP CORPORATION
1) Non-employee compensation reported as “other income” on Federal 1040
(Attach page 1 of Form 1040 and Form 1099 if applicable)
2) Net profit per each Federal Schedule C, E and/or F (if reporting more than
one schedule, losses incurred on any schedule cannot be netted against the
other schedules)
3) Capital gain from Federal Form 4797 or Federal Form 6252 reported on
Schedule D of Form 1040 (attach Form 4797, pages 1 and 2 or Form 6252)
4) Ordinary gain or (loss) on the sale of property used in a trade or business
per Federal Form 4797 (attach Form 4797, pages 1 and 2)
5) Ordinary Income or (loss) per Federal Form 1065 (attach Form 1065, pages
1, 2 and 3, Schedule of Other Deductions and Rental Schedule(s), if
applicable.
6) Ordinary Income or (loss) per Federal Form 1120 or 1120A or Ordinary
income or (loss) per Federal From 1120S (attach Form 1120 or 1120A,
pages 1 and 2 or 1120S pages 1, 2 and 3, Schedule of Other Deductions,
and Rental Schedule(s), if applicable)
7) State income taxes and occupational license taxes based upon income
deducted on the Federal Schedule C, E, F or Form 1065, 1120, 1120A or
1120S
8) Additions from Schedule K of Form 1065 or Form 1120S (attach Schedule K
of Form 1065 or 1120S and Rental Schedule(s), if applicable
9) Net operation loss deducted on Form 1120
10) Total Income- Add Line 1 through Line 9
11) Subtractions from Schedule K of Form 1065 or Form 1120S (attach
Schedule K of Form 1065 or 1120S and Rental Schedule(s), if applicable)
12) Other Adjustments (attach Schedule)
13) Professional expenses not reimbursed by the Partnership (attach Schedule
of Expenses)
14) Total Deductions- Add Line 11 through 13
15) Adjusted Net Profit- Subtract Line 14 from Line 10. Enter here and on Line
20 on the front page.
DIVIDE (A / B = C)
COLUMN A COLUMN B
NOTE: All percentages in Column C should
APPORTIONMENT FACTORS CITY FACTOR TOTAL EVERYWHERE be carried out five (5) decimal places
16) PAYROLL FACTOR
Compensation paid during the year to employees
17) SALES REVENUE FACTOR
Receipts from the sale, lease or rental of goods,
services, or property
18) TOTAL PERCENTAGES
19) BUSINESS APPORTOINMENT ENTER HERE AND ON LINE 21 OF NET PROFIT RETURN
If you had both a payroll factor and a sales revenue factor, then divide Lie 18 by two (2)
If you had a payroll factor or sales revenue factor, but not both, then enter the percentage from Line 18 on
Line 21.