Instructions For Form 8697 - 2011 Page 6
ADVERTISEMENT
1
2
3
4
5
6
72. Corporations (other than S
numbers as positive when making this
Line 1
corporations) and pass-through entities
comparison, but enter the amount as a
In each column, show a net increase to
not included in 1 above:
negative number. (If the amount on one
income as a positive amount and a net
line is negative, but the amount on the
decrease to income as a negative
other line is positive, enter the positive
amount.
amount.)
a. Tax years ending before July 1,
On an attached schedule:
1987 . . . . . . . . . . . . . . . . . . . .
46%
Lines 8 and 9
•
b. For tax years beginning before
Identify each completed long-term
For the increase (or decrease) in tax for
July 1, 1987, that include July 1,
contract by contract number, job name,
each prior year, interest due or to be
1987, the rate is 34% plus the
or any other reasonable method used
refunded must be computed at the
following:
in your records to identify each
applicable interest rate and
contract; and
•
compounded on a daily basis from the
For each contract, report in columns
Number of days in tax year before 7/1/87
due date (not including extensions) of
for each prior year: (a) the amount of
12%
Number of days in tax year
the return for the prior year until the
income previously reported based on
earlier of:
estimated contract price and costs and
•
The due date (not including
c. Tax years beginning after
(b) the amount of income allocable to
extensions) of the return for the filing
June 30, 1987, and ending
each prior year based on actual
year or
before 1993 . . . . . . . . . . . . . .
34%
contract price and costs. Total the
•
The date the return for the filing year
d. For tax years beginning
columns for each prior year and show
is filed and any income tax due for that
before 1993 that include January
the net adjustment to income from
year has been fully paid.
1, 1993, the rate is 34% plus the
long-term contracts.
following:
See Applicable Interest Rates in the
An owner of an interest in a
instructions for Part I, lines 7 and 8,
pass-through entity is not required to
earlier.
Number of days in tax year after 12/31/92
provide the detailed schedule listed
1%
Line 10
Number of days in tax year
above for prior years. The entity should
provide the line 1 amounts with
See the instructions for Part I, line 9,
Schedule K-1 or on a separate
e. Tax years beginning after
earlier.
statement for its tax year in which the
1992 . . . . . . . . . . . . . . . . . . .
35%
Line 11
contracts are completed or adjusted.
See the instructions for Part I, line 10,
Note. Taxpayers reporting line 1
Line 3
earlier.
amounts from more than one Schedule
See the instructions for Part II, line 1,
K-1 (or a similar statement) must attach
on this page and complete line 3 in the
Table 1
a schedule detailing by entity the net
same manner, using only income and
Interest Rates for Non-corporate
change to income from long-term
deductions allowed for alternative
Taxpayers
contracts.
minimum tax (AMT) purposes.
From
Through
Rate
Table
Page
Line 2
Line 4
1/1/04
3/31/04
4%
61
615
Multiply the amount on line 1 by the
4/1/04
6/30/04
5%
63
617
Multiply the amount on line 3 by the
applicable regular tax rate for each prior
7/1/04
9/30/04
4%
61
615
applicable AMT rate, which is as
10/1/04
12/31/04
5%
63
617
year shown in column (a), (b), or (c).
follows:
1/1/05
3/31/05
5%
15
569
The applicable regular tax rate is as
4/1/05
9/30/05
6%
17
571
follows:
1. Individuals and pass-through
10/1/05
6/30/06
7%
19
573
entities in which, at all times during the
7/1/06
12/31/07
8%
21
575
1. Individuals and pass-through
year, more than 50% of the interests in
1/1/08
3/31/08
7%
67
621
entities in which, at all times during the
the entity are held by individuals directly
4/1/08
6/30/08
6%
65
619
year, more than 50% of the interests in
7/1/08
9/30/08
5%
63
617
or through other pass-through entities:
the entity are held by individuals directly
10/1/08
12/31/08
6%
65
619
1/1/09
3/31/09
5%
15
569
or through other pass-through entities:
a. Tax years beginning in
4/1/09
12/31/10
4%
13
567
1987 through 1990 . . . . . . .
21%
1/1/11
3/31/11
3%
11
565
a. Tax years beginning before
b. Tax years beginning in
4/1/11
9/30/11
4%
13
567
1987 . . . . . . . . . . . . . . . . . . .
50%
10/1/11
3/31/12
3%
11
565
1991 or 1992 . . . . . . . . . . .
24%
b. Tax years beginning in 1987
38.5%
c. Tax years beginning in
c. Tax years beginning in 1988,
1993 or later . . . . . . . . . . . .
28%
1989, or 1990 . . . . . . . . . . . . .
28%
d. Tax years beginning in 1991
2. Corporations (other than S
or 1992 . . . . . . . . . . . . . . . . .
31%
corporations) and pass-through
e. Tax years beginning in 1993
entities not included in 1 above
20%
through 2000 . . . . . . . . . . . . . 39.6%
f. Tax years beginning in 2001
39.1%
Line 5
g. Tax years beginning in 2002
38.6%
h. Tax years beginning in 2003
If both lines 2 and 4 are negative, enter
whichever amount is greater. Treat both
or later . . . . . . . . . . . . . . . . . .
35%
-6-
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial