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Form BI-472-Inst Fillable Instructions
(all forms fillable on Windows, Mac, Android tablets, and iPad using Adobe Reader XI)
catch up payment) are less than 6 8% of the amount on Shareholder s Partner s or Member s Information includes (b) Enter the wage expense associated with targeted jobs (c) Add Lines 3(a) and 3(b) 133 State Street 2008 and later all figures must be recomputed to disregard 280C(a) accordance with statute payments will be distributed in proportion Add Form BA 402 Part 1 Line 1b and Line 8 above Adjustments To Taxable Income and are made with Form WH 435 See 32 V S A 5914 and and local obligations that were exempted from federal tax are substantive changes they will be noted at the Department s as filed with the IRS; and all Schedules K 1VTs to: BA 404; a copy of the first four pages of Federal Form 1120S business income (loss) Net rental real estate income (loss) composite basis Enter this amount on Form BI 471 Line 2 Contributions Investment interest expense Section 59(e)(2) credit disallowed on the Federal return by IRC Section depreciation provisions of IRC 168(k) for assets placed in Distribution of estimated payments will not occur if Schedule dividends Royalties Net short term capital gain (loss) Net Do not complete this form if all shareholders are VT residents DRAFTS available at the time VT forms are finalized If there Email Address: tax corpincome@state vt us enter on Line 1 Enter your business name and Federal Employer Identification entry While the proportion of ownership may have changed expenditures amount and Other deductions This is the total Fax: (802) 828 5787 For Those Entities Filing Federal Form 1120S and Having Vermont Nonresident Shareholders Form BA 402 Part 1 Line 1a Form BI 472 and Schedules K 1 VT are used to distribute Form BI 472 Instructions FORM BI 472 INSTRUCTIONS S CORPORATION SCHEDULE Form BI 472 is used to determine the amount of Vermont sourced Forms: (802) 828 2515 from Form BA 402 Line 22 If no Form BA 402 is attached Government Obligations income distributed to shareholders who are not residents of Income Tax Return instructions to the forms and line numbers of the VT Individual its effects K 1VTs are not complete and correct Line 1: From Federal 1120 S Schedule K Combine: Ordinary Line 10: Enter the percent of VT source income or loss passed Line 11 the company will be subject to assessment for the Line 11: Enter the dollar amount of VT source income or loss Line 12: Enter the amount if any of VT source income passed Line 2: Enter the amount of interest received from non VT state Line 3: (a) Enter the amount of interest received from U S Line 4: Total Net Income (loss) Add Lines 1 and 2 and then Line 5: Income Allocated Everywhere Enter the amount from Line 6: Net Apportionable Income Subtract Line 5 from Line 4 Line 7 Line 7 will be adjusted to 100% Line 7: VT Apportionment Percentage Enter 100% or amount Line 8: Net Income Apportioned to VT Multiply Line 6 by Line 9: Total Net Income Allocated and Apportioned to VT long term capital gain (loss) Net section 1231 gain (loss) and Mail Forms BI 471 BI 472; and if applicable BA 402 and Montpelier VT 05633 1401 non resident estimated payments made with Form(s) WH 435 In nonresident by Vermont Payments are generally due quarterly NOTE: Number (FEIN) number from Line 11 order for shareholders to receive proper credit on their tax returns Other income (loss) Then subtract: Section 179 deduction Other net rental income (loss) Interest income Ordinary over the year an exact amount of income would have been passed through to non residents This is the basis amount for Please use blue or black ink rate is 6 8% If total Form WH 435 payments (including References to federal forms are based on the most recent reported to nonresidents You may need to back into this required estimated payments for non residents The current Rev 09/13 Schedule K 1VT: service in 2008 and later If the company took advantage of Shareholders Share of Income Less Deductions which you subtract Line 3(c) taxes together with related interest and penalties imposed on the Taxpayer Services: (802) 828 5723 Technical Bulletin 06 for more details the bonus depreciation provision on assetsplaced in service in the entity shall for each taxable period be liable for all income The required form for all shareholders Schedule K 1VT these forms must be prepared completely and accurately In through to non resident owners Various is not a valid through to non residents that is reported and taxed on a to the shareholders share of income underpayment interest and penalty Vermont With respect to each of its nonresident shareholders VT Department of Taxes VT does not conform to the special bonus Web Site Address: http://tax vermont gov website