Fillable Net Profit License Fee Return (City of Marion, Kentucky)

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Net Profit License Fee Return (City of Marion, Kentucky)

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U.S.A. forms for City of Marion, Kentucky

BROWSE CITY OF MARION, KENTUCKY (KY) FORMS
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CITY OF MARION – LICENCE FEE DIVISION
Net Profit License Fee Return
FROM BUSINESS, PROGESSION OR OTHER ACTIVITY WITHIN THE CITY OF MARION,
CONDUCTED BY CORPORATIONS, PARTNERSHIPS, INDIVIDUAL AND FIDUCIARIES OF ESTATE AND TRUSTS.
(RESIDENT OR NON-RESIDENT)
CALANDER YEAR ENDED DECEMBER 31, 20___
OR
FISCAL YEAR: MONTH_________ DAY_____ YEAR_______
____________________________________________________________________________________________________
BASIS OF LICENSE FEE
In computing the amount due, the taxpayer begins with gross receipts as shown by the Federal Income Tax Return less deductions as determined
by the Federal Return.
Deduction of general business expenses will be allowed to the extent recognized and approved as such in determining Federal Income Tax.
Please attach a copy of the following Federal Income Schedule used in completing you return as required by ordinance:
Individual Proprietorship……Form 1040, Separate Schedule C
Estates and Trusts ……………. Form 1041, Page 1
Partnerships …………………….. Form 1065, Page 1
Corporations …………………………. Form 1120, Page 1
Sub-Chapter S Corporations ….. Form 1120-S, Page 1
CHECKS OR MONEY ORDER PAYABLE TO: TREASURER, CITY OF MARION, KENTUCKY
1. Gross Income per Federal Return………………………………………………………………………………………………………………………………………………… _______________________
1a. Less Gross receipts from manufacturing or trafficking alcoholic beverages………………………………………………………………. _______________________
2. Adjusted Gross Income………………………………………………………………………………………………………………………………………………………………… _______________________
3. Total deductions per Federal Return (if Federal Return is Form 1040, do not include Page 3 deductions or personal exemptions) _______________________
4. Net income per Federal Return Form, Form 1040____: 1041_____: 1065_____: 1120_____............................................................. _______________________
5. Percent (As determined by Schedule B)…………………………………………………………………………………………………………………………………………. _______________________
6. Net Profits subject to Marion License Fee……………………………………………………………………………………………………………………………………… _______________________
7. Marion License fee at 3/4 of 1%........................................................................................................................................................... _______________________
8. Interest 2/3 of 1% per month, if delinquent………………………………………………………………………………………………………………………………….. _______________________
9. Penalty 15% of the amount of the unpaid License Fee, if delinquent……………………………………………………………………………………………. _______________________
10. TOTAL (items 6, 7 and 8)…………………………………………………………………………………………………………………………………………………….………. _______________________
11. Less Credits (including $25.00 minimum license fee paid)………………………………………………………………………………………………………..…. _______________________
12. BALANCE DUE (Item 10 minus item 11)………………………………………………………………………………………………………………………………………. _______________________
SCHEUDLE B
BUSINESS ALLOCATION PERCENTAGE FORMULA DIVIDE (A) BY (B) TO OBTAIN DECIMAL – CARRY OUT DECIMAL AT LEAST SIX PLACES
ALLOCATION FACTORS
COL. 1
MARION
FACTOR
COL. 2
TOTAL FACTOR
COL. 3
PERCENTAGE
1.Gross Sales of merchandise, less Returns and Allowances
(Do not included Discounts allowed
Charges for work or service performed
Other Income
Total business Receipts Factor
2.Wages, Salaries and other Personal Service
Compensation
Total net Wages Factor
3.Total Percents
4.Average Percentage
(Line 3 divided by number of Percents)
(Carry Percentage to Line 4, Schedule A)
DID YOU HAVE ANY EMPLOYEES IN 20___? _______ (YES OR NO)
CERTIFICATE
PREPARED BY:
I HEREBY CERTIFY THAT THE STATEMENTS MADE HEREIN AND IN ANY SUPPORTING SCHEUDLE OR EXHIBT ARE TRUE, CORRECT AND COMPLETE
(SIGNATURE OF LICENSED PAYER)________________________________________________________________ DATE___________________
THIS RETURN MUST BE FILED WITH FULL PAYMENT OF THE FEE ON OR BEFORE APRIL 15 OF EACH EYAR, OR WITHIN 135 DAYS FROM THE CLOSE
OF YOUR FISCAL YEAR, WITH THE CITY TREASURER, 217 S. MAIN ST., MARION KY 42064
YEAR
20___
ATTACH A COPY OF
FEDERAL RETURN FORM
USED AS A BASIS OF
LICENSE FEE
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Net Profit License Fee Return (City of Marion, Kentucky)

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Completed 19 January 2021

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