Form 980 Booklet Fillable Dealer in Intangibles Tax Return Booklet
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All Other Receipts Are No Longer Considered Check here if you are a qualifying Consolidated Single county Inter County Account number (1) (2) (3) (4) (5) (6) (7) (1) (2) (3) (4) (5) (6) (7) (1) Dealer in intangibles includes every person who keeps (Carry amount to applicable Exhibit: Exhibit A line 1; Exhibit B line 3; or Exhibit C line 3) (column 2) Additions and disposals occurring during the year (R C 5725 14) 1 93 2 75 0 1 Cash on hand and in banks $ 1 must file a dealer in intangibles tax return The return must 1 Ohio proportion of taxable value of shares or invested capital (from Balance Sheet 10 Commissions receivable 10+ 18 8 15 0 100% of commissions charged everywhere The billing address 11 Memberships (specify) 12 31 11 12 31 11AdditionsDisposalsCost at End 12 31 12 Percent 12 31 12Percent 12 Deferred charges 13 Accrued earnings 14 Other assets (specify) 15 Total assets (lines 1 through 14) $ 16 Notes and accounts payable $ 17 Due to other brokers 18 Customers credit balances 19 Commissions payable 19th Floor 2 82 8 60 0 2 Complete this section if you do not qualify under section 1 but had an office or other place of business in Ohio at the end 2 Investments (complete enclosed Ohio form 984) 2 Value of nontaxable bonds and securities as of date of conversion 2 x line 3 Carry to page 1 computation of tax line 3) 20 Accrued expenses 2003 and prior 18 8% 2004 24 6% 2005 30 5% 2006 36 3% 2007 42 2% 2007 and prior 15% 2008 15% 2008 51 5% 2009 30% 2009 62 0% 2010 45% 2010 72 4% 2011 60% 2011 82 8% 2012 $641 310 $ 641 31093 2% $ 597 7012011 $434 040 434 04082 8% 359 3852010 301 032 $201 032 100 00072 4% 72 4002009 277 736 277 73662 0% 172 1962008 201 033 201 03351 5% 103 5322007 147 001 147 00142 2% 62 0342006 421 066 421 06636 3% 152 8472005 234 175 234 17530 5% 71 4232004 148 622 148 62224 6% 36 5612003 and prior 2 010 836 333 421 1 677 41518 8% 315 354 2012 $641 310 $641 31075% $480 9832011 $434 040 434 04060% 260 4242010 301 032 $201 032 100 00045% 45 0002009 277 736 277 73630% 83 3212008 2 393 633 444 943 1 948 69015% 292 304 2012 75% 2012 93 2% 2012 total gross income 2014 a taxpayer will be responsible for filing either a financial 2014 Depending on the taxpayer s Ohio business activity in 21 Deferred credits 22 Other liabilities 23 Total liabilities (lines 16 through 22) $ 24 Capital stock (less Treasury shares) $ 25 Capital investment (if not incorporated) 26 Surplus and undivided profi ts 27 Partners credit balances 28 General reserves (without definite evidence of imminent loss or liability) 29 Book value of shares or invested capital (lines 24 through 28) 3 72 4 45 0 3 Accounts and notes receivable 3 If you do not meet the test under section 1 or 2 and you had an office or other place of business in Ohio at the end of 3 Total taxable value in Ohio (line 1 plus line 2) rounded to the nearest $10 30 E Broad Street 30 Total liabilities and capital $ 31 Tax exempt investments include obligations issued 31 the value of the nontaxable bonds and securities as of 31st The difference between book and market should be 4 62 0 30 0 4 Customers debit balances 4 Tax payable (line 3 multiplied by 008) to nearest 01 5 51 5 15 0 5 Due from other brokers 5 Venture capital tax credits 51% or more of the common stock of another incorporated 5725 01(B)(1) for determining whether a taxpayer s business activities qualify that taxpayer as an Ohio dealer in intangibles 5725 17(B) and 5711 28 5733 45) Generally a qualifying 6 42 2 15 0 6 Ohio historic preservation tax credit 6 Real estate Cost $ 7 36 3 15 0 7 Leasehold improvements (enclose Ohio form 937DI) Cost $ 7 Total tax payable 8 30 5 15 0 8 Furniture fixtures and equipment (enclose Ohio form 937DI) Cost $ 8 Penalty $ 9 24 6 15 0 9 Leased equipment (see Exhibit E) 982 no longer will be required a 2010 dealer activity gross income 2010 total gross income a 2012 dealer activity gross income a claim for deduction from book value must be submitted in A dealer in intangibles that predominately makes loans a list of the subsidiary dealers FEIN addresses and a consolidating A penalty imposed on late filed returns may be abated when a qualifying dealer you do not need a refundable credit A tax return is filed on the date the tax commissioner A written statement demonstrating that your business consists primarily of dealer activities based upon the totality of a) Accounts receivable Gross $ a) Prepaid expenses a) Taxable abatement of penalty within 60 days after the mailing of the above or submitted via certified mail no later than the second Account Balance Sheet Value Fair Value Difference account remains in business for the purpose of realizing Accounts Receivable Acquired Acquired acquired (column 3 column 4) The resulting costs remaining Additions and Address Address Address Print name of taxpayer Date address shall be used to determine where the commission administered by the Venture Capital Authority is applicable against the gross accounts receivable balance The calculation Age Class 3 Computer Class Aggregate amount of commissions charged Aggregate Amount of Loans all business to Ohio All persons partnerships associations and corporations all subsidiary dealers in intangibles of 51% or more must be Am Sub H B 487 enacted by the 129th General Assembly Am Sub H B 510 enacted by the 129th General Assembly Amount $ Amount $ amount of accounts and notes receivable listed on the current amount of loans effected discounted and renewed for the amount of the loan when the loan is made ) To the resulting An incorporated dealer in intangibles who owns or controls an office or other place of business in this state and engages and accounts receivable are examples of items listed on and backed by the federal government territories or districts and carries a reserve on its books for receivables will use and Due Date and renewed and the following Ohio bonds: Vietnam War Bonus and the product placed in column 7 Total column 7 and that Any dealer in intangibles that leases tangible personal Any question relative to the filing of the dealer in intangibles Anyone meeting the definition of a dealer in intangibles April 10 2013 are listed in column 6 Each year end cost is then multiplied are not exempt are to be entered at cost across the year in which they were are to be shown by year of acquisition for the entire entity As provided by R C 5725 17 a penalty may be assessed as used in the definition of a dealer in intangibles The Assembly requiring all dealer in intangibles taxes to be paid assets on the Dec 31 balance sheet and place the increase at another office shall be divided equitably between at Close of Business at such office or other place in a business that consists at year end are then listed (column 5); their total must equal b 2011 dealer activity gross income 2011 total gross income b nonrefundable credit b) Installment loans Gross $ b) Nontaxable b) Other Bad Debts Charged Off Balance Sheet Balance Sheet as of Dec 31 2012 balance sheet reflecting all subsidiaries and the be filed with the tax commissioner no later than the second be furnished disclosing the amount of such receipts together between the two is carried to the summary sheet as an bills of exchange drafts acceptances notes mortgages bonds and securities after Oct 31 and is still held on Dec bonds stocks or other investment securities whether on his book value and the market value of the investment at Dec Book value of shares or invested capital (B/S line 29) book value to the fair value and place the increase or de both in the state of Ohio and everywhere (Dealers who only brokers) Enter below the total of loans effected discounted and renewed during the year ended Dec 31 2012 business consists primarily of dealer activities Failure to provide this information could result in the tax commissioner Business may not be allocated within and without Ohio unless Business name business on Dec 31 2012 buying such securities by the corresponding valuation percentage and the product c 2012 dealer activity gross income 2012 total gross income c) Lease receivables Gross $ Calendar calendar year 2012 you may provide information on why you still should be considered a potential dealer in intangibles Carry Total Fair/True Value to Summary Sheet Carry total to line 2 Exhibit A Total Carry Total True Value to Summary Sheet CAT Division cause A dealer in intangibles must file a petition for charged for business done at each office divided by charitable purposes insurance companies and financial City State ZIP claimed fair value The burden of substantiating the claimed Clarification of Procedures for Review of Penalties Class class life consists mainly of offi ce computers class of property are listed in column 6 Each year end cost Columbus OH 43215 Columbus OH 43216 0530 Columbus OH 43216 0530 or call (614) 644 5849 Visit the Company or Financial Institution Company: Complete this section if you had an office or other place of business in Ohio at the end of calendar year 2010 2011 and computation and properly disposed of but not written off the computation of tax on the front page of Ohio form 980 consist of the aggregate amount of loans effected discounted consolidated return with the tax commissioner on or before Consolidated Returns constitute engaging in business within the meaning of this Cost at End Cost at End Cost at End Costs of depreciable property at the end of the previous Costs of depreciable property at the end of the previous year county where the property is physically located and used in crease in the difference column This total is the value that credit certificate must be submitted at the time of filing See Credits Information d) Real estate loans Gross $ Date business started in Ohio days the period during which a dealer in intangibles shall dealer (see R C 5725 24 and Dealer in Intangibles Dealer In Intangibles dealer in intangibles against its dealer in intangibles tax liability dealer in intangibles may by application request to fi le a dealer in intangibles tax liability for the calendar year specified dealer in intangibles tax liability See R C 5725 151 Dealer in Intangibles Tax Return dealer is a dealer in intangibles that dealers in intangibles total depreciable assets companywide Dealers owning and leasing or holding for lease tangible debt reserve (A discounted loan is a loan on which the debt reserve is compared to the bad debt reserve taken Dec 31 2012 Dec 31 will be carried to the summary sheet Declaration definition has been posted on the department s Web site Definition of a Dealer in Intangibles R C 5725 01(B) Definition of Primarily Deliver to: denying status as a dealer in intangibles department s Web site at tax ohio gov for additional forms Description Book Value Lessee Ohio County Location Description of Ohio business designated as Class 3 property Computers and their online Development See R C 5725 151 and 149 311 disclose the reasons and computations for determining the Disposals and division; but a person who having engaged in the business Due to Am Sub House Bill 153 enacted by the 129th General e) Other receivables Gross $ Effected Discounted & Renewed Bad Debts Charged Off Effective for tax year 2006 and future years this form is now elapsing between the due date and the date on which the employed provided such investments are held on Dec Enter below the aggregate amounts of all commissions charged during the calendar year ending Dec 31 2012 entity (column 2) Additions and disposals occurring during equal to the greater of $50 per month or fraction of a examined by me/us and to the best of my/our knowledge and belief is a true correct and complete return and report Exchange Memberships exempt under Ohio law from the value of capital Exhibit A Exhibit A is used to adjust the net worth of the dealer to Exhibit A Reconciliation of Book Value to the Market or Exhibit B Exhibit B is used to determine the Ohio percentage of business Exhibit B Ohio Proportion of Taxable Value of Shares or Invested Capital (for dealers other than Exhibit C Exhibit C Ohio Proportion of Taxable Value of Shares or Invested Capital (for brokers only) Exhibit D Exhibit D Each Dealer in Intangibles Other Than Brokers Must Furnish the Following Information Exhibit D It is used to establish a fair value for accounts Exhibit E Leased Equipment Extension of Time extension of time must be received at the address listed extensions for a consolidated return each subsidiary and factor This total percentage will be applied to the gross Fair or Market Value Fair Value Claim Fair Value of Shares or Invested Capital (Ohio Revised Code 5725 15) fair value rests with the taxpayer fair value The rates for those classes are listed below The FEINOhio charter number file their Ohio form 980 R C 5725 10 A written request for Filing Requirements financial book value for all accounts that have an adjustment first takes the total amount of bad debts charged five year class life Ohio form 937DI is used to arrive at the for computing the fair value of various depreciable For dealers in intangibles depreciable property under this for dealers in intangibles who generate loan business for the calendar year specified on the tax credit certificate Form 937DI C3 Form 937DI SAC Form 980 Form 980 2 Form 980 3 Form 980 4 Form 980 5 Form 984 Form 985 Full costs must be shown Cost column totals must reconcile fund See R C 5725 24 and 5733 45 furniture and equipment leaseholds and autos have been General Information and Instructions good cause shown extend for a period not exceeding 30 Highway Improvement Construction Underground Historic preservation tax credit may be claimed against the How Commissions Are Sitused Within and Without I/we declare under penalties of perjury that this return (including any accompanying schedules and statements) has been if Stock If you have questions regarding the completion of this form please contact Jason Mumma at (614) 644 5849 Illustrating Application of Class III Percentages Illustrating Application of Stand Alone Computers in at least two of these three calendar years If you do not meet this test you may complete section 3 in calendar year 2012 If you do not meet this test you may complete section 3 in December 2012 repealed the dealer in intangibles tax by In determining commissions for a broker dealer the billing in Intangibles in intangibles against its dealer in intangible tax liability in intangibles excludes institutions used exclusively for In the case of a dealer engaged primarily in the business In the case of a dealer principally engaged in the business In the event the fair value of any item of taxable property is include 1% of all other receipts when determining gross included When a consolidated return is filed it must include including book value the name of the lessee and the Ohio increase or decrease from book value to fair value is carried Increase or decrease to fair or market value (from summary sheet) increase or decrease to fair value inside and outside Ohio institution tax return or a commercial activity tax return instead institutions The investment of funds as personal accumulations Instructions insurance company or financial institution All tax paid by Intangibles intangibles though not presently engaged in a business intercompany eliminations (R C 5725 14) Interest interest and other charges are deducted from the face into the general revenue fund of the state Treasury Ohio form Investments is a subsidiary of a fi nancial institution is placed on line 2 of Exhibit A as a company wide increase is then multiplied by the corresponding valuation percentage issued by the Venture Capital Authority A copy of the tax it is shown that the failure to file timely is due to reasonable its fair value at Dec 31 Items such as fixed assets exchange Leased Property Less accumulated depreciation Less accumulated depreciation Less allowance for bad debts Less allowance for bad debts Less allowance for bad debts less disposals The valuation percentages for the specified less than the book value as reflected on the balance sheet listed on the summary sheet listed within the request mail The petition shall include a true copy of the notice Mail to: Memberships Memberships and stock exchange seats used in business memberships stocks investments real estate method for determining the aggregate fair value for Monday in March; be sure to include the proper business Monday of March or as properly extended: Ohio Department month not to exceed $500 or 5% per month or fraction mortgages or other evidences of indebtedness on his own must accompany this tax return must be completed using a list date of Dec 31st annually must be returned at their fair value as of Dec 31st annually must equal the beginning of the year total plus additions must file a tax return regardless if they are affiliated with an name address account number and stated cause If requesting Name of dealer Name of Investment Net Worth New This Tax Year No Assets No Capital No granted No Item No Item (1) No Liabilities nonrefundable credits may be claimed by a qualifying dealer notice of a penalty assessment The petition must be filed Notification of Dealer Status Notification of Dealer Status Form Number objection is to the assessed penalty and shall provide the Obligation Public Housing Authority etc Municipal bonds of a month not to exceed 50% of the tax required to be of assessment complained of shall indicate that the only of calendar year 2012 or were a new taxpayer in calendar year 2012 of dealing in securities as principal broker or both gross of Exhibit A) of lending money or discounting loans gross receipts will of Ohio and forward it to an Ohio office must allocate that of Ohio form 980 of R C Chapter 5727 of Shares of Taxation of Taxation Attn: CAT Division Rhodes State Office of the dealer in intangibles tax return of the depreciable assets to the book value of those same off for the preceding five years less total recoveries for Office Equipment Autos Leaseholds Class III Ohio Administrative Code 5703 3 32 effective Dec 30 2005 defines the term primarily as it is used in Ohio Revised Code Ohio county business location Ohio Department of Taxation Ohio Form 937DI Ohio form 937DI True Value Computation provides a consistent Ohio Form 982 Eliminated Ohio Form 984 Ohio form 984 is to be submitted with Ohio form 980 for Ohio Historic Preservation Tax Credit Ohio proportion of taxable value of shares or invested capital (line on the current year s balance sheet and the difference on the tax credit certificate issued by the Ohio Department of operate within the state do not need to complete this section ) or as business reserves or working capital does not or decrease to fair value on the summary worksheet or Exhibits A B or C) or insurance company If you are or other evidences of indebtedness or of buying or selling or selling bills of exchange drafts acceptances notes order must be made payable to the Treasurer of State Other Fair Value Adjustments others with a view to profit or personal earnings Dealer out of state but report to the Ohio office must also allocate own account with a view to profit or as agent or broker for P O Box 530 Par Value Parking Capital Improvement Construction General Payment by check or money order made payable to the Treasurer of State Payment of Tax Payment should be submitted with the return Penalty for Late Filing percentage add 1/2 of 1% as 5% or 005 as a correction Percentage allocable to Ohio (column 1 by column 2) Percentage allocable to Ohio (column 1 column 2) percentage obtained from this calculation peripheral equipment have been designated as having a Person other than taxpayer preparing this return Date Signature of taxpayer Title Date personal property shall enter a description of the property Phone number Phone number placed in column 7 Total column 7 and that will be the fair Please provide the following: Please provide the information requested below in the category that pertains to your business situation to determine whether Please type or print the name address and telephone number of the person to be contacted during our examination of this portion to Ohio Employees of the dealer who solicit business preceding five years for which the dealer maintains a bad primarily of lending money or discounting buying or selling property For dealers in intangibles property such as office property to a public utility pursuant to R C 5727 01(M) must providing that the tax is in effect only for tax years prior to R C 5725 14 no longer requires that a dealer in intangibles R C 5725 19 Rate or Real Estate reason for such objection See Ohio Revised Code (R C ) receipts Receipts from business originating in one office and consummated receipts shall consist of the aggregate amount of commissions receivable at Dec 31 for those dealers that carry a reserve Received Stamp receives it or on the postmark date if the taxpayer fi les the records but still physically on hand must be included in the records should be deducted These exceptions should be Recovery of reduction is added or deducted from line 1 The result is rehabilitating historic buildings and obtain the appropriate Relating to Dealer in Intangibles Tax Return Relative to Aggregate Amount of Loans Effected Discounted and Renewed remaining at year end are then listed (column 5); their total Reminders required to be completed and submitted with Ohio form 980 requires a taxpayer filing a dealer in intangibles tax return return return in the computation of tax section line 3 rounded to return is filed return See R C 5725 14(B) Payment by check or money Rev 11/12 Rev 11/12 Rev 11/12 Rev 11/12 Rev 11/12 Rhodes State Offi ce Tower Sample Computation for 2013 Return See Ohio Administrative Code 5703 3 32 See R C 5725 19 separately identified in the computation separately list and return such property under the provisions service See R C 5703 056 sheet This form must list the name of the investment the should be sitused Line 3 Exhibit A is then multiplied by the should be sitused See R C 5725 14(C) should be used to determine where the commission shown on the return for each month or fraction of a month Signature Social Security number Stand Alone Stand Alone Computer True Value Computation such entities shall be credited only to the general revenue such offices and a special memorandum or schedule must Summary Worksheet for Exhibit A Line 2 tax by certified mail or by use of an authorized delivery tax credit certificate are eligible to claim a credit against their tax due Tax Return tax return or the procurement of forms must be addressed to Taxability of Dealers Wholly Owned By an Insurance Taxable value (carry to page 1 line 1 or line 3 Exhibit B or C below) Taxable value of shares or invested capital (B/S line 29 or line 3 Taxable value of shares or invested capital (line 3 of Exhibit A) Taxpayer Identification Taxpayer name Telephone that are engaged in business as a dealer in intangibles Jan that consists primarily of lending money or discounting buying that consists primarily of lending money or discounting or The balance sheet on the reverse side of Ohio form 980 the balance sheet that need to be calculated at their fair the beginning of the year total plus additions less disposals the date of conversion must be reflected on line 2 of the the dealer maintains separate office locations both within and the Department of Taxation Attn: CAT Division P O Box 530 The Department of Taxation must receive this tax return no later than March 11 2013 D E verification The difference between the book value and the fair value at The existing tax credit for loans made to the program fund the fair value which is then carried to the front page of the The formula develops a uniform amount of reserves taken the increase or decrease to fair value on line 2 in Exhibit A the nearest $10 the preceding five years This total is divided by the total the second Monday in March If the application is granted The tax commissioner has adopted a rule clarifying primarily The tax commissioner has prescribed composite annual allowances The tax commissioner may upon verified request and for The total amount of loan business conducted for the The valuation percentages for the specified class of property the year are to be entered at cost across the year in which their federal employer identification number (FEIN) must be they were acquired (column 3 column 4) The resulting costs This form must be completed by each dealer in support of Balance Sheet line 2 for Ohio form 980 This tax return accompanying exhibits and tax payment should be received no later than March 11 2013 by the Department This worksheet is a tool to be used to capture all adjustments Those dealers in intangibles that incur expenses in those same assets on the Dec 31 balance sheet and place those taxpayers who list investments on line 2 of the balance Time Extension Permit Title to bring it to its fair value at Dec 31 Compare the financial or decrease to arrive at a taxable value to complete Ohio form 982 to fair value at Dec 31 It is a gathering worksheet to list the to include payment of the tax due with the filing of the tax to qualifying dealers in intangibles Refundable and to the front of the return (line 3) to compute the amount of to the summary sheet Total Total $4 175 541 $641 310 $534 453 $4 282 398 Fair/True Value = $1 943 433 Total 3 406 441 $641 310 645 975 $3 401 776 Fair Value = $1 162 032 total fair value of the depreciable assets to the book value of Total Fair/True Value = $ Total Fixed Assets total from line 3 of Exhibit A This value is then forwarded Total of loans effected discounted and renewed TotalFair/True Value = $ Totals Tower 19th Floor P O Box 530 Columbus Ohio 432160530 Transfers In Transfers Out True Value True Value True Value Computation True Value Computation Class Life III True Value Computation Stand Alone Computers Turnpike Major Thoroughfare Construction Bridge Commission Type of business: Corporation S corporation Partnership Other Unincorporated Dealers in Intangibles Unincorporated dealers in intangibles may deduct investments upon the assets of such business is deemed a dealer in Value value and the result placed on line 2 The net addition or value at Dec 31 These items are netted against their book value of the depreciable assets Compare the total fair value Venture Capital Tax Credits for Qualifying Dealers in Venture capital tax credits may be claimed by a qualifying When Situsing Gross Receipts for All Dealers When taxable property has been converted into nontaxable will be the fair value of the depreciable assets Compare the with ledger accounts except that property written off the with the offi ce location with the tax commissioner either in person or by certified without Ohio Independent agents who solicit business out writing at the time of filing the tax return The claim should year are to be shown by year of acquisition for the entire year everywhere This percentage is then multiplied by the year in Ohio is divided by the total of loan business for the year s balance sheet The calculated allowable bad You are a potential dealer in intangibles if your gross income from dealer activities exceeded 50% of your total gross income you qualify as an Ohio dealer in intangibles your circumstances The statement should contain details of the specifi c circumstances that demonstrate that your