Cca Resident Business/rental Income Worksheet
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1Tax Year
NAME(S)
PRIMARY SOCIAL SECURITY NUMBER
Attach completed worksheet to the City Tax Form
CCA Resident Business/Rental Income Worksheet
(If applicable)
For use by individuals with net profit/distributive share income sourced in multiple municipalites with current and/or prior year losses.
WORKSHEET
COLUMN G
COLUMN A
add columns A-
RESIDENT
F and enter
MUNICIPALITY
COLUMN B
COLUMN C
COLUMN D
COLUMN E
COLUMN F
total
1 Municipality Name: Enter each Municipality only once
2 Enter Tax Rate for Municipality listed on line 1
3 NET SCHEDULE C INCOME (LOSS)
4 NET SCHEDULE E INCOME (LOSS)
5 NET PARTNERSHIP/ S CORPORATION INCOME
6 OTHER BUSINESS / FORM 1099 INCOME
7 TOTAL INCOME: Add lines 3, 4, 5 and 6. Enter result here.
8
PRIOR YEAR NOL CARRY FORWARD: (enter as a negative)
9 Add Lines 7 and 8
9a If line 9 is a positive amount enter here.
TAX DUE WORKPLACE MUNICIPALITY: Multiply line 9a by line
10
2. For CCA CITIES ONLY INCLUDE POSITIVE AMOUNTS ON
FORM 120-16-IR SECTION A, LINE 9, COLUMN 4
11
CURRENT YEAR LOSS : if Line 7 is a negative enter here.
RESIDENT MUNICIPALITY TAX CALCULATION
ALLOCATION PERCENT FOR RESIDENT MUNICIPALITY: divide
12
Line 13 of this column by Column G line 13. Enter as a
percentage.
TAXABLE INCOME FOR RESIDENT MUNICIPALITY: If Column A
line 9a is positive, enter on Col. A line 13. If Column B – F line
13
7 is positive, enter on line 13 of the corresponding Column.
ALLOCATION OF CURRENT YEAR LOSS TO RESIDENT
14
MUNICIPALITY: Multiply Column G line 11 by the line 12
percentage and enter here
RESIDENT MUNICIPALITY CARRY FORWARD TO 2017: Add
15
lines 13 and 14. Enter negative amount here. If Column G line
15 is negative stop here.
INCOME TAXABLE BY RESIDENT MUNICIPALITY: Add lines 13
16
and 14 enter positive amounts here.
Multiply line 16 by Resident Municipality tax rate (Column A
17
Line 2)
18 Enter amount from CREDIT WORKSHEET line 5
Partner/Shareholder's distributive share of taxes paid by the
19
business entity to the Resident Municipality. Not to exceed
Enter Resident Muni's tax credit rate in Col. G line19
line 17.
20 Multiply line 18 by Resident Municipality credit (See Tax Rate
Schedule in instructions) and enter here.
TAX DUE: Subtract lines 19 or 20 from line 17. ENTER
AMOUNT IN COLUMN G ON FORM 120-16-IR SECTION B, LINE
21
14A, COLUMN 16
CREDIT WORKSHEET
COLUMN A
COLUMN B
COLUMN C
COLUMN D
COLUMN E
COLUMN F
The amount of tax withheld or paid to the municipality where
1
the net profit/business income was earned or apportioned.
Include the Partner/Shareholder's distributive share of taxes
paid by the business entity.
The amount of net profit and other nonwage income actually
2
subject to tax by the municipality in which the net
profit/business income was earned or apportioned (Line 9a)
multiplied by that municipality’s tax rate.
The amount of net profit/business income actually subject to
3
tax (Line 16) by the resident municipality multiplied by the
residence municipality tax rate.
The amount of net profit/business income actually subject to
4
tax (Line 16) by the resident municipality multiplied by
workplace municipality’s tax rate.
Compare the amounts on lines 1 through 4 and enter the
5
smallest amount
Revised 03/2017
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Parent category: Financial