Schedule G-2 Template - Exceptions To The Addback Of Interest

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NAME AS SHOWN ON RETURN
FEDERAL ID NUMBER
SCHEDULE G-2 PART I
EXCEPTIONS TO THE ADDBACK OF INTEREST
Exception 1 - Amounts Paid, Accrued, or Incurred to a Related Member(s) in a Foreign Nation
1. Was any interest included on Schedule G, Part I of the CBT-100 or CBT-100S return, directly or indirectly paid, accrued or incurred to a related member
in a foreign nation which has in force a comprehensive income tax treaty with the United States?
“Yes” or “No” _______________________. If “Yes”, complete the following schedule. If “No”, you do not qualify for this exception.
Name of Related Member
Name of Foreign Nation
Description of Treaty
Amount Deducted
(a) Total - enter here and on line 1 of the Total Exceptions Chart for Part I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Exception 2
Interest paid to a related member that was subject to a tax on its net income or receipts in this State or another state or possession of the United States or in
a foreign nation and which jurisdiction includes as a measure of the tax the interest received from the related member and applies a rate of tax to the interest
received by the related member equal to or greater than a rate three percentage points less than the rate of tax applied to taxable interest by this state.
If claiming this exception for more than one related member, complete Exception 2 for each related member and enter the total for all related members in the
Total Exceptions Chart.
Name of Related Member: ______________________________________________________________________________________________________
FID # of Related Member: _______________________________________________________________________________________________________
Fiscal Period of Related Member: ________________________________________________________________________________________________
Name of the state, possession or foreign nation in which the related member is subject to a tax on net income or receipts:_____________________________
Amount of net income or receipts subject to tax: ______________________________________________________________________________________
Was the tax liability reported by the related member in the state, possession or foreign nation greater than the statutory minimum tax imposed by that
jurisdiction? “Yes” or “No” ______________________________. If “Yes”, complete the following schedule. If “no”, you do not qualify for this exception.
Column A
Column B
Column C
1. Enter the amount of interest claimed by the taxpayer as
deductible. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. Enter the taxpayer’s allocation factor from line 2, page 1 of the
New Jersey CBT-100 or CBT-100S return. If non-allocating,
enter 1.00 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. Enter the taxpayer’s tax rate from line 9, of the New Jersey
CBT-100 or line 4 of New Jersey CBT-100S. . . . . . . . . . . . . . .
4. Multiply column A, line 2 by column A, line 3 and enter the
result here. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5. Enter the tax rate applied to the net income or receipts from
the return of the related member filed in the state, possession
or foreign nation of the related member on which the interest
income is being reported. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6. Enter the related member’s allocation factor from the return
filed in the state, possession or foreign nation on which the
interest income is being reported. If non-allocating, enter 1.00.
7. Multiply column A, line 5 by column A, line 6 and enter the
result here. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8. Subtract column B, .line 7 from Column B, line 4 and enter
result here. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9. Exception amount-if the amount on column B, line 8 is greater
than .03, enter zero in column
C, line 9. If the amount on
column B, line 8 is equal to or less than .03, enter amount from
column C, line 1 in column C, line 9 and on line 2 of the Total
Exceptions Chart for Part I. . . . . . . . . . . . . . . . . . . . . . . . . . . .
A copy of the return from the state, possession or foreign nation on which the related member reported interest income must be submitted with
the taxpayer’s return.

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Parent category: Financial
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