Schedule A – Computation of Louisiana taxable income before income distribution deduction
1. Federal taxable income before income distribution deduction .........................................................................
$
2. Net income taxes paid to any state or political or municipal subdivision .........................................................
$
3. Less: (A) Any income that is exempt from taxation under the laws
of Louisiana or that Louisiana is prohibited from taxing
by the Constitution or laws of the United States
________________
(B) Depletion allowed under Louisiana law in excess of
federal depletion
________________
(C) S-Bank exclusion
________________
4. Total subtractions (Add Lines 3A through 3C.) ................................................................................................
$
5. Modified federal taxable income (Add Lines 1 and 2, subtract Line 4, and print the result.) ..........................
$
Modified federal taxable income allocated or apportioned to Louisiana
6. Rents and royalties (See instructions. Attach schedule.) ..................
________________
7. Gain or loss on sale of assets (See instructions. Attach schedule.) ..
________________
8. Other allocable income (See instructions. Attach schedule.) ............
________________
9. Income apportioned to Louisiana (See instructions.) .........................
________________
10. Modified federal taxable income allocated and apportioned to Louisiana (Add Lines 6, 7, 8, and 9.) ............
$
11. Less federal itemized deductions attributable to Louisiana (See instructions.) ...............................................
$
12. Louisiana taxable income before income distribution deduction.
(Subtract Line 11 from 10 and enter result here and on Form IT-541, Line 4.) .................................................
$
Schedule B – Distributive shares of beneficiaries
Social Security Number, Name, and address of each beneficiary as shown on their individual income tax return (IT-540 or IT-540B)
Distributive share of
Percentage of
Social Security Number
Name, address, city, state, ZIP
Louisiana income
beneficial interest
to beneficiary
%
a.
b.
%
%
c.
%
d.
%
e.
%
f.
Total
100%
Schedule C – Federal income tax deduction
1. Louisiana income before federal income tax deduction ...................................................................................
$
2. Adjustment to convert Louisiana net income to a federal basis:
____________________________________
$ ________________
____________________________________
$ ________________
____________________________________
$ ________________
Net adjustment
$ ________________
3. Louisiana income on a federal basis (Subtract Line 2 from Line 1.) ...............................................................
4. Less Louisiana income taxed at special rates .................................................................................................
5. Louisiana ordinary income on a federal basis (Subtract Line 4 from Line 3.) .................................................
6. Federal taxable income ....................................................................................................................................
7. Less federal income taxed at special rates ......................................................................................................
8. Federal net income-Ordinary (Subtract Line 7 from Line 6.) ...........................................................................
9. Ratio–Louisiana Ordinary/Federal Ordinary (Divide Line 5 by Line 8.) ...........................................................
%
10. Ratio–Louisiana Special/Federal Special (Divide Line 4 by Line 7.) ...............................................................
%
11. Federal income tax liability ...............................................................................................................................
12. Less federal special rates tax ..........................................................................................................................
13. Less alternative minimum tax ..........................................................................................................................
14. Federal ordinary tax (Subtract Lines 12 and 13 from Line 11.) .......................................................................
15. Federal income tax attributable to Louisiana ordinary income (Multiply Line 14 by Line 9.) ...........................
16. Federal income tax on Louisiana income taxed at special rates (Multiply Line 12 by Line 10.) .....................
17. Federal income tax disaster relief credits. .......................................................................................................
18. Federal income tax disaster relief credits attributable to Louisiana (Multiply Line 17 by Line 9.) ...................
19. Federal income tax deduction.(Add Lines 15, 16, and 18.) Print the result here and on Form IT-541, Line 7. $