Main Navigation

Form IT-565 Fillable Partnership Return of Income and Form IT-565B Apportionment
(all forms fillable on Windows, Mac, Android tablets, and iPad using Adobe Reader XI)

00 00 $ and total market valuation $ of (%) or life (: Cost) Unchecked (: LIFO) Unchecked (: Lower of cost or market) Unchecked (: No) Unchecked (: other) Unchecked (: Yes) Unchecked (a) 00 00 (a) Banks (a) Other than last in first out (a) Sales where goods merchandise or property is received in Louisiana by the (b) 00 00 (b) Charges for services performed in Louisiana (b) Last in first out (b) Others (c) 00 00 (c) Other gross apportionable income (Col 2 Col 1) (Column 4 plus (Column 4 plus (Designat e nonr esident individuals if an y ) (Divide Line 6 by number of factors used Use result in determining income apportioned to Louisiana on Section A Line 6 ) % (Enter amounts in Columns 1 and 2 and ratio in Column 3 ) 00 00 % (Exclude land ) (Explain on Sch B 1 ) (Explain on Sch B 1 ) (Explain on Sch G ) (from Schedule D) (Instructions) (Line 14 Page 1) (Line 28 Page 1) (mm/dd/yyyy) (or allowable) (or allowable) (or loss) (or loss) from Line 28 (R S 47:55) Complete Schedule C by providing details (salar ies and interest) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (To be filed also by syndicates pools joint ventures etc ) (years) *If differ ent fr om last year s closing in vent or y att ach explanation 1 1934 1 1934 1 2 3 1 Capital account at 1 Cash 1 Current and 3 1 Description of property 2 Date 1 Description of property 2 Date 1 Gross receipts or gross sales $ 1 Kind and location of property 2 Amount 3 Depreciation 1 Kind of property (If buildings state materials of which 1 Net sales of merchandise and/or charges for services 1 of the following year for each such payee The return shall include 1 Opening inventory* $ 1 St at e name and addr ess of each par tner 1 Total 1 Total $ 10 Net gain (or loss) from sale of property other than capital assets (Schedule E) 1065 R S 47:103(B) Louisiana Revised Statute (R S ) 47:103(C) 11 Other assets (Attach schedule ) 11 Other income (Attach schedule ) 12 Total assets $ $ 12 Total income (Add Lines 3 through 11 ) $ 13 Accounts payable 13 Salaries and wages (other than to partners) $ 14 Payments to partners (salaries and interest) 15 Other current liabilities (Attach schedule ) 15 Rent 16 Interest (Explain on Schedule C ) 17 Other liabilities (Attach schedule ) 17 Taxes (Explain on Schedule C ) 18 Losses by fire storm shipwreck or other casualty or theft (Attach schedule ) 18 Partners capital accounts 19 Bad debts (Schedule F) 19 Total liabilities and capital $ $ 1934 value was determined as provided by R S 47:155 If 1953 the asset may be depreciated under any of the following 2 Capital contributed 2 Date 2 Less: amount of depreciation claimed in Schedules A and B and elsewhere on return 2 Less: Cost of goods sold (Schedule A) 2 Net income (or loss) (Column 2 less the sum of Columns 3 4 and 5 Print on Line 7 Page 1 ) $ 2 Net profit from business 3 Sales on account 4 Bad debts (See instructions 2 Purchases $ 2 Social Secur it y 2 Wages salaries and other personal service compensation paid during the year 2 Was the method of inventory valuation indicated above the same 20 01 1 20 Repairs (Attach schedule ) 21 Depreciation (Schedule G) 22 Amortization (Attach schedule ) 23 Depletion of mines oil and gas wells timber etc (Attach schedule ) 24 and enter the result 24 Other deductions authorized by law (Explain on Schedule H ) 25 Total deductions (Add Lines 13 through 24 ) $ 26 Net income (or loss) (Subtract Line 25 from Line 12 ) 27 Net gain from sale of capital assets (Line 9) 28 Ordinary income (or loss) (Subtract Line 27 from Line 26 ) $ 3 Balance (Print here and on Line 21 Page 1 ) $ 3 Cost of labor supplies etc $ 3 Cost or other basis 3 Date 3 Date 3 Gross profit (Line 1 less Line 2) 3 If inventory is valued at lower of cost or market print total cost 3 Income not 3 Income tax proper ty factor ratio 00 00 % 3 Ordinar y income 4 Depreciation allowed 4 Gross sales price 5 Depreciation allowed 4 Gross sales price 5 Depreciation allowed 4 If closing inventory was taken by physical count print date inventory 4 Income (or loss) from other partnerships syndicates etc (Attach schedule ) 4 Investments in Government obligations 4 Loans made during the year 4 Ordinary income 4 Payments to par tners 4 Repairs 4 Total of Lines 1 2 and 3 $ 47:43(D) 5 Dividends (Attach schedule ) 5 Gross amount added 5 If closing inventory was not taken by a physical count attach an 5 less the sum of 5 less the sum of 5 Less: Closing inventory $ 5 Losses not 5 Method of computing 5 Net gain from sale 5 Other current assets including short term 5 Other expenses 5 Taxpayers primarily in the business of manufacturing or merchandising enter ratio from Line 1 Column 3 % 6 Amount charged against reserve 6 Cost of goods sold (Print here and on Line 2 6 Cost or other basis 6 Cost or other basis 6 Interest (Attach schedule ) 6 Other investments (Attach schedule ) 6 Percent age of time 6 Rate 6 Total percents in Column 3 % 6 Withdrawals and 7 Average of percents 7 Capital account 7 Depreciation 7 Expense of sale 8 Gain or loss 7 Expense of sale 8 Gain or loss 7 Rents and royalties (Schedule B) 8 Net farm profit (or loss) (Attach schedule ) 9 Land (net of any amortization) 9 Net gain from sale of capital assets (Schedule D) a at the beginning of the taxable year and A change by any partnership from one taxable year to another or A nonresident member of a partnership who does not have a valid agreement a partner for ser vices or the use of capital where such a partner should be included on this line Do not include A partnership receiving any exempt income other than A partnership return is not required if all partners are natural persons accounting period established on the first return must remain as the accounting period for subsequent years under Louisiana Income Tax accounts or to depreciation reser ves Accrued or received income acquired acquired acquired after December 31 1953 may be depreciated acquired or contracted to acquire substantially identical stock acquisition of the property actually sustained before that date See R S 47:156(A) addition to a reserve for bad debts No change of method is Additional Sales Ratio The apportionment percent of taxpayers whose adjustments within 60 days after the federal adjustments have been affecting lands located in Louisiana and rentals paid for real property after the close of the fiscal period agree with the inventories in the records attach a statement allocation schedule Corporations should refer to Louisiana Revised allocation(s)Partners filing an individual return should use the information reported on the federal partnership return instead of the amount shown on this schedule allowance for the exhaustion wear and tear and obsolescence allowances that would have resulted from the use of the allowed without permission of the Secretary of Revenue also sign If a return is prepared by a firm or corporation the return must Amortization Enter the total amount of amortization Amount amount claimed and the basis upon which it is computed Land amount of depletion and the method of calculation amount of other authorized deductions Do not include amount of the adjusted basis of such partner s interest in Amounts received under a life insurance contract paid by reason an Apportionment of Income Schedule Form IT 565B must be filed an income producing factor in the trade or business an information return with the Secretary of Revenue on or before June and (f ) Gross profit on amount collected Enter on Line 3 and belief it is true correct and complete If prepared by a person other than taxpayer his declaration is based on all information of which he has any and cost of improvements and cost of improvements and derives income from sources within and without and each is required to include his share in his return However a partner and enter the result and expenses paid and other relevant factors provide a reasonable basis for and shall include the costs of prosecution and Transmittal of U S Information Returns Federal Form 1096 and/or social security number along with the number of Forms 1099 annual allowances for depreciation are computed by another partnership s capital gains or losses The distributive Any partnership doing business in Louisiana or deriving any income Any person firm or corporation who prepares a taxpayer s return must Any person firm partnership trust corporation or organization applying changing fractions to the taxpayer s cost or apportionment method produces a manifestly unfair result and permission APPoRTIonmEnT oF InComE SCHEDuLE are allowed only to the extent of the gains from such sales or as a depreciation deduction The allowance does not apply as of that date the cost shall be reduced by the depreciation asset commenced with the taxpayer and commenced after asset is tang ible ; (2) that it has an estimated useful life of Assets Assets Enter the net profit or net loss from the sales or at end of year at the end of the taxable year Bad Debts Enter the total amount of bad debts incurred basis For fiscal years or annual periods of 52/53 week filings clearly basis) to be recovered should be charged off over the expected Baton Rouge LA 70821 3440 Baton Rouge LA 70821 3440 be signed in the name of the firm or corporation This verification is not become wholly or partially worthless; or (2) by a reasonable before January 1 1934 both the cost and the acquired value Beginning of taxable year End of taxable year beginning of year BEGUN bonds issued under authority granted by Acts of the Louisiana Bonds Real Estate etc Enter the amount of profit from Buildings and other fixed depreciable assets business nor entered into for profit No deduction is allowed by apportionment must be shown separately by estimated salvage value) by the number of years of by the Internal Revenue Ser vice by the partner This distributive share of the partnership s net income by the taxpayer for the production of income shall be allowed Cash or accr ual basis Located at Cit y State ZIP class of exempt income Any amount of expense calculate d Column Column Column Explanation Amount Column Explanation Amount Columns 6 and 7) Columns 6 and 7) completed When obsolescence is included state separately the considered as the place at which the goods are received by the purchaser constructed ) Exclude land and other nondepreciable construction reconstruction or erection after December 31 Cost of Goods Sold Enter the Cost of Goods Sold from cost or market method If the inventories reported do not credited to the partnership during the taxable period on bank Date of organization Federal Employer Identification Number Federal net income De cember 31 1953 De cember 31 1953 The cost or other basis of an asset Declining balance method This method may be used declining method This limitation applies only during the deductible since such expenditures are chargeable to capital deduction for any emergency facility constructed or erected in Deduction for losses from sales or exchanges of capital assets deduction is computed) and dividing the product by the deductions Deductions Depletable assets Depletion of Mines Oil and Gas Wells Timber etc deposits notes mortgages corporation bonds and bonds of depreciation depreciation as computed on Schedule G A reasonable Depreciation Deduction Enter the total amount of derived from sources partly within and partly outside of Louisiana Describe the nature of your business activity and specify your principle product or service both in Louisiana and elsewhere Describe the property briefly using Schedule D by giving Description of items used as factors Total determination of profit or loss determined by means of an apportionment percent based on the factors set devoted to business distributions Dividends Enter the amount of dividends (except certain does not apply to certain taxpayers engaged in the production or sale of does not coincide with the tax year of the other partnership during the taxable year Do not include Louisiana income taxes during the taxable year for services rendered in Louisiana in connection during the year Provide details of bad debts by completing during year Each partner that is a natural person must include on his individual income Elsewhere Employer Identification Number (EIN) that was assigned to the partnership enclosed Informational returns reporting other items of income that ENDED Enter as depreciation the amount of exhaustion wear and Enter the amount of the partnership s distributive share of enter the result Enter the total amount of depletion of mines oil or gas wells enter total of Lines a b and c Enter ratio in Column 3 ) estimated useful life of the assets estimating the useful life of property The cost (or other exchanges of property other than capital assets reported exchanges R S 47:72 Expenditures for new buildings machinery equipment or Expenditures for restoring or replacing property are not Expenses connected with the sale such as commissions paid experiment and trademark and trade name expenditures explaining how the difference occurred Explanation Amount Explanation Amount Explanation Amount Explanation Amount explanation of how inventory items were counted or measured Explanation of Louisiana business Factors 1 2 and 3 above with Factor 1 being counted twice This provision Federal Employer Identification Number Provide the Federal Federal Form 1099 shall be accompanied by the Annual Summary Federal Net Income Enter the amount of the partnership s federal first two thirds of the useful life of the property fiscal years must be filed on or before the 15th day of the fifth month for any expense incurred to produce income not subject to For calendar year For further information relative to these apportionment factors see R S 47:245 for Line 19 ) for permanent improvements or betterments that increase for personal use $ $ for pipeline transportation use factors (1) (2) and (3); for other transportation use factors (1) and (3); for service enterprises in which the use of property for this year For treatment of amounts paid at a date later than death R S Form IT 565 if any partner is a nonresident of Louisiana or if any forth below The percent computed in that schedule is the arithmetic average from sources therein regardless of the amount and regardless of the from the other partnership in the tax year in which the other from which the income is exempt shall include an itemized furnishing the payor s name address employer identification number Gifts (not received as a consideration for services rendered) and Give address and descriptions of places of business within Louisiana goods are ultimately received after all transportation is completed shall be goods merchandise or property is received in this State by the purchaser Gross Income Gross income and deductions Gross Profit from Sales Subtract Line 2 from Line 1 and Gross Receipts or Gross Sales Enter the amount of gross Gross sales; (b) Cost of goods sold; (c) Gross profits; (d) However the income derived from such property is taxable If a deduction is claimed for depreciation Schedule G must be If a gain or a loss is computed on the sale of property acquired If an asset is constructed reconstructed or erected by the If organization carried a reserve If records are kept on an accrual basis report all income accrued even If the distributive share is a loss the loss is limited to the If the installment method is used attach a schedule to the If the partnership has one or more nonresident partners If the production purchase or sale of merchandise is if the property was acquired before January 1 1934 and if if the property was acquired before that date In addition improvements and repairs made to restore the property or improvements or physical development added to it in accordance with 47:65(F)(2) and is attributable to in Column 4 plus in Column 4 plus unallowable in Louisiana in previous years include a statement providing an updated in prior years In the case of delivery by common carrier or by other means of transportation in the partnership The excess of such loss may be claimed for later years in the production of apportionable income within this State: include all income derived from Louisiana sources on Form IT 540B include the distributive share of the net profits (or losses) included included as a deduction on Schedule A Line 3 Exclude included on Line 9 included the amount and description of payments to each such payee including transportation by the purchaser the place where the Income (or loss) from Other Partnerships Syndicates etc income and (2) the amount of expense allocated to each income is deductible Income items exempt from tax income tax and should not be included in gross income: Income tax returns of partners indebtedness Amounts paid by a partnership to a partner for indicate the beginning and ending dates at the top of the return The Individuals should use the information reported on the federal Information at the source information indicating a ll p ersons who were memb ers of the instead of the amounts shown in the partners allocation schedule Corporations instructions and apportionment of net income Instructions for Completing Form IT 565 instructions from Line 9 insurance proceeds Intangible assets (amortizable only) interest are set forth in R S 47:75 Complete Schedule C by Interest Enter the amount of all interest received or Interest Enter the total amount of interest paid for business interest incurred to purchase or carry obligations producing Interest on obligations of the State of Louisiana and its political Interest on obligations of the United States Government and/or interest or holding any property or engag ing in any activity inventories are an income determining factor inventories of the merchandise on hand should be taken at Inventories: investment R S 47:44 is not a material income producing factor use factors (1) and (2) otherwise use factors (1) (2) and (3); for loan businesses use factors (2) and (4); for IT 565 (1/14) IT 565i (1/14) Item Amount Item Amount items requiring separate computation and required to be its instrumentalities its nature on an attached schedule except items requiring Jan 1 1934 (Attach Jan 1 1934 (Attach Kind of business Name knowledge labor supplies and other items that do not add to the value land and buildings were purchased for a lump sum the cost of Law unless permission to make a change is received from the Secretar y lease bonuses delay rentals and/or royalties respecting mineral leases Legislature if such Acts provide that the interest on such bonds Less: Accumulated amortization ( ) ( ) Less: Accumulated amortization and depreciation ( ) ( ) Less: Accumulated depletion ( ) ( ) Less: Cost of items withdrawn Less: Reserve for bad debts ( ) ( ) Less: Returns and allowances [ ] = $ Liabilities and Capital life in years Business experience engineering information LIFO ; other (If other attach explanation ) Line 1 Line 10 Line 11 Line 12 Line 13 Line 14 Payments to Partners Salaries and Interest (Guaranteed Line 15 Rent Enter the total amount of rent paid on business Line 16 Line 17 Line 18 Line 19 Line 2 Line 20 Line 21 Line 22 Line 23 Line 24 Line 25 Line 26 Line 27 Line 28 Line 3 Line 4 Line 5 Line 6 Line 7 Line 8 Line 9 List in Schedule K all items of income reported on your Federal return lives allowable for federal income tax purposes The deduction located in Louisiana to a nonresident individual or a firm partnership location and state the actual consideration of price received loss claimed Losses by Fire Storm Shipwreck or Other Casualty or Louisiana Louisiana Louisiana as reported on Schedule D of the return Louisiana Department of Revenue Louisiana Department of Revenue Louisiana Department of Revenue P O Box 3440 Baton Rouge LA 70821 3440 IT 565 (1/14) Louisiana Income Tax If an expense is incurred in part for the Louisiana Income Tax Law made and accepted making payments totaling $1 000 or more during any calendar year for marketable investments (Attach schedule ) May 15 of the year following the close of the calendar year Returns for may be valued using either the cost method or the lower of may not claim on his separate return a distributive share of loss from a meet the provisions of R S 47:206(B)(1) A change by a principal members are liable for income tax and are subject to tax on their distributive merchandising and manufacturing use factors (1) (2) (3) and (5); and for other businesses use factors (1) (2) and (3) method be used unless it can be clearly shown that the use of the method of reporting must be used in the determination of the net income method that does not result in accumulated allowances at method used for last year? Yes No (If No attach explanation ) methods provided that the asset is tangible and has an estimated money and property acquired by bequest devise or inheritance months ending on the last day of any month other than December Mortgages notes and loans payable (long term): Mortgages notes and loans payable (short term): multiplying the cost or other basis of the asset (reduced must be shown with information as to how the January 1 must furnish a statement disclosing the nature and amounts of such net apportionable income is derived primarily from the business of manufacturing Net Farm Profit (or Loss) Enter the amount of net Net Gain from Sale of Capital Assets Enter on Line 27 Net Income (or Loss) Subtract Line 25 from Line 12 and net income as reported to the Internal Revenue Service on Federal Form net loss from Schedule B Line 2 No amortization is permitted for the adjusted basis of a grain No loss shall be recognized in any sale or other disposition nontaxable income Not all of the following factors should be used Your principal kind of business determines which factors apply For air transportation use factors (1) and (3); not less than the amount allowable) in respect to such Notes and accounts receivable Number of bonus or first year depreciation is allowable of capit al assets of how the end of the year count was determined of property used in the trade or business or of property held of Revenue of shares of stock or securities where the partnership has of such assets must not be included in the cost shown in the of such income to be attributed to sources within this State should be of tax exempt income then only the portion of the expense of the death of the insured and paid at the death of the insured of the factors applicable to your operations which factors depend on your of the partnership Do not include distributive share of of the taxpayer on file with LDR must be included in a Composite Partnership on Schedule E Furnish the information required using the or appreciably prolong the life of the property repaired or business of the organization such receivers trustees or assignees or constructively received such as bank interest credited to your account or discounts from the sale price if engaged in business where or for an annual period of 52/53 weeks if records are kept on that or from theft and not compensated for by insurance or or losses must be reported to conform to the partnership s accounting or merchandising (manufacturing producing or sale of tangible or municipal subdivisions to the extent as is now exempt by law or other taxable year or other unincorporated organizations through or by means of or securities within 30 days before or after the date of such sale or taxes in computing gain or loss or the fair market value of the property received in exchange or who have other income derived from Louisiana sources must Ordinar y Income (or Loss) Subtract Line 27 from Line 26 ordinary course of business other basis of property (reduced by estimated salvage Other Deductions Authorized by Law Enter the total Other Income Enter any other taxable income and explain Other methods A taxpayer may use any consistent other wise nor reflected in cost of goods sold as set forth in P O Box 3440 P O Box 3440 Page 1 Page 1 ) $ Page 2 Page 3 Page 4 paid as interest by a partnership to a partner as a result of a Par tnership Return of Income Par tnership Return of Income partner from one taxable year to another must meet the provisions of partner is not a natural person If the partnership has income that is Partners Partners Allocations This schedule should show complete partners in Column 4 Partners Allocations Pag e 1 partnership profits Allocate these profits to the appropriate partnership return instead of the amounts shown in the partners PARTNERSHIP RETURN OF INCOME with Instructions and Form IT 565B Apportionment of Income Schedule partnership s tax year does not coincide with the partners tax year include partnership s tax year ends partnership syndicate group etc during any portion of the taxable partnership to the extent any such loss exceeds the basis of his interest Partnerships not required to file a return Partnerships that must file a return payments are determined without reg ard to the income Payments) Enter the total amount of payments to Penalties Percent percent or more in the partnership profits or capital Percentage of profits to gross sales; (e) Amount collected; period regardless of a fiscal year or calendar year taxable period If the Period to be covered by return personal property) is the arithmetical average of four factors which are principal kind of business prior years production but the ordinar y practice is to measure useful production of taxable income and in part for the production Profit or Loss from Sale of Property Other Than Capital Profit or Loss from the Sale of Capital Assets such as Stocks profit or net loss from farming Attach schedule explaining prolong its useful life Do not include ordinary repairs interest property property since date of acquisition or since January 1 1934 property used in a trade or business activity Do not deduct providing a description of the property date acquired cost providing details purchaser R S 47:206(B)(2) A principal partner is one who has an interest of five R S 47:60(3) Theft losses can be deducted only in the year in receipts or gross sales less goods returned and any allowance receivers trustees in bankruptcy or assignees are in control of the property Records are in care of Address recovered through previous depreciation allowances the cost rent for a dwelling occupied by any partner for personal use Rents and Royalties Enter the amount of net income or Repairs Enter the total cost of incidental repairs including report all expenses incurred not just expenses paid If records do not reported on Schedule J Do not deduct losses incurred in required where the return is prepared by a regular full time employee requires that every taxpayer whose federal income tax return is adjusted residence of the partners must file a Partnership Return of Income Return (Form R 6922) Nonresident partners who have a valid agreement return showing the following information separately for Returns for a calendar year must be filed with the Department of Revenue P O Box 3440 Baton Rouge LA 70821 3440 on or before Salaries and Wages Enter all salaries and wages not salaries to partners schedule ) schedule ) Schedule A Cost of goods sold 1 Method of inventory valuation cost ; lower of cost or market ; Schedule A Line 6 Schedule B 1 Explanation of Columns 4 and 5 of Schedule B Schedule B Income from rents and royalties Schedule C Explanation of interest and taxes (Lines 16 and 17 Page 1) Schedule D Gain from sale of capital assets (See instr uctions for Line 9 ) Schedule E Gain or loss from sale of proper t y other than capital assets (See instr uctions for Line 10 ) Schedule F Bad debts (See instr uctions for Line 19 ) Schedule F Bad debts may be deducted either (1) when they Schedule G Depreciation (See instr uctions for Line 21 ) Schedule H Other deductions (See instr uctions for Line 24 ) Schedule I Balance sheets Schedule J Include taxable income from annuities and Schedule J Reconciliation of par tners capital accounts Schedule K Income repor ted in federal retur n and omitted from Louisiana retur n schedule of depreciable assets See R S 47:65 and R S 47:157 Section C Computation of apportionment percent Section D Apportionment factors to be used in determining income derived from sources partly within Louisiana See R S 47:94(A) separate computation that are required to be reported on shall be exempt from taxation shall be the amount of loans made in this State during the period for which shall execute the return shall include all sales made in the regular course of business where the share of the gains and losses need not have been distributed shares of the income of the partnership whether distributed or not should refer to R S 47:287 93(A)(5) should use the information reported on the federal partnership return show income accrued and expenses incurred report all income received Signature of par tner or member Telephone Date Signature of preparer other than par tner or member Address Cit y St ate ZIP Date Signatures since acquisition insurance salvage value and deductible since acquisition or since acquisition or Social Security Number of both the payor and payee There shall also be statement indicating (1) the amount of each class of exempt statement of the pertinent facts should be filed with the return states cities and other political subdivisions Do not include Statute (R S ) 47:287 93(A)(5) stock dividends) received from any corporation regardless of storage facility or certain expenditures relating to research and subsequent subsequent subsequent improvements depreciation allowed or allowable Subsequent improvements include expenditures for additions such payments may be used for reporting the required information sum of all the digits corresponding to the years of the Sum of the years digit method Under this method tax exempt interest The limitations on deductions for unpaid tax return the amount of the distributive share of the net income of taxable years beginning after December 31 1955 R S 47:65(I) taxes assessed against local benefits that increase the value of Taxes Enter the total amount of taxes paid or accrued taxpayer so that much of the basis of the asset is computed tear obsolescence or depletion that has been allowed (but than $1 000 or imprisonment for not more than one year or both that are exempt from Louisiana tax that are not trusts estates or corporations within the meaning of the that can reasonably be attributed to the production of taxable That portion of an annuity that represents a return of the taxpayer s the adoption by a new partnership for an initial taxable year must the amount of gain from the sale or exchange of capital assets the amount shown as cost is other than actual cash cost of the beginning and end of the taxable year The inventories the building subject to depreciation must be established The the cost of such property is greater than its fair market value the current year and each of the three preceding years: (a) The Department of Revenue will permit the use of estimated the end of the year greater than the total of the accumulated The Federal Information Return Form (Form 1099) for reporting The following are some types of income that are exempt from Louisiana the gross profit on collections made during the current year the income deductions and credits as shown on Schedule J Individuals the income or losses in the tax year in which the partnership s tax The Loan Factor In the case of a loan business the Louisiana factor The Louisiana factor shall also include all charges for services performed The Louisiana Factors are as follows: The Louisiana Income Tax Law creates a presumption that the apportionment the name address Federal Employer Identification Number and/or the other partnership at the end of the partnership year in the partnership whether or not such share was distributed or withdrawn The penalty for willfully making a false or fraudulent return or for the property assessed or taxes not imposed upon the taxpayer The Property Factor The Louisiana factor shall be the average of the the property sold full details must be furnished regarding the the return is filed The return must be filed for a calendar year or for a fiscal year of 12 The return must be signed by any one of the partners or members If The Salaries and Wages Factor The Louisiana wage factor shall include the sale of property including property situated outside of The Sales and Charges for Services Factor The Louisiana sales factor the specific request of the Secretary of Revenue the State of Louisiana secure Form IT 565B for further the term partnership to include syndicates groups pools joint ventures the total salaries wages and other personal service compensation paid the use of capital should be included on Line 14 Amounts The useful life of an asset can be measured in units of the value of the property are chargeable to capital accounts the year if arising by fire storm shipwreck or other casualty Theft Enter the total amount of losses sustained during There are sp e cia l r u les for new a ssets ac qu ire d af ter those items valued at market though it has not been actually received or entered in the records and three years or more ; and (3) that the orig inal use of the timber etc If complete valuation data has been submitted to acquisition or Jan to acquisition or Jan to agents may be deducted in computing the amount received to inventories or stock in trade or to land apart from the to report partnership income for resident individuals to reserve to the extent that the basis for the partner s interest is increased above to use the separate accounting method is granted by the Secretary The proportion to which the Government has issued a certificate of necessity A Total $ $ $ % TOTAL (In Column 1 enter total net sales and charges for services; in Column 2 Total (Print here and on Line 24 Page 1 ) $ Total (Transfer net gain or loss to Line 10 Page 1) $ Total (Transfer net gain to Line 9 Page 1 ) $ total amount of depreciation allowed on each property in prior Total Deductions Add the amounts on Lines 13 through Total Income Add Lines 3 through 11 and enter the result Totals $ $ $ $ $ $ $ transaction wherein the partner acts in a capacity other than transactions that were neither connected with the trade or trust corporation or organization not located in Louisiana shall file under any of the following methods provide d (1) that the under methods proper in the past; or it may be depreciated Under the penalties of perjury I declare that I have examined this return including all accompanying documents and to the best of my knowledge unless the partnership is a dealer in stock or securities in the unrefined oil and gas or certain taxpayers who are subject to tobacco tax useful life of the property useful life of three years or more: useful life remaining (including the year for which the value of the taxpayer s real property and tangible personal property used value) The deduction for each year is computed by values or costs must not be included in this schedule and where was taken If not at end of year attach an explanation When and where the return must be filed where such net income is apportionable It is mandatory that the apportionment whether or not the corporation has paid any income tax to which any business financial operation or venture is carried on and which the loss occurred If the taxable year of the return filed which the partnership discovers the loss Attach a statement who are residents of Louisiana (R S 47:201) willful failure to make and file the return on time shall not be more with a rate not in excess of twice the applicable straightline with Form IT 565 Louisiana Revised Statute (R S ) 47:220 3 defines with the production of apportionable net income would normally appear on Federal Form 1099 are required only upon year Although the partnership is not subject to income tax the individual year ended The Louisiana resident return Form IT 540 must be used years must be shown and if the cost of any asset has been fully zero Each partner should be advised by the partnership of his share of