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1998

NORTH CAROLINA

PARTNERSHIP INCOME TAX RETURN

Form D--403

NORTH CAROLINA DEPARTMENT OF REVENUE, P.O. BOX 25000, RALEIGH, NC 27640--0640

FOR CALENDAR YEAR 1998 or other taxable year beginning

, 1998

and ending

, 19_______

Name of partnership (please type or print)

Federal Employer Identification No.

Present address

County

Check applicable boxes

Initial Partnership Return

City or town

State

ZIP Code

Initial LLC Return

Amended Return

Enter name and address used on 1997 return (If same as above, enter ‘‘same”). If none filed, state reason.

Final Return

Check here if entity is a LIMITED LIABILITY COMPANY (LLC).

Enter N. C. Secretary of State I. D. number

If entity converted

to an LLC during the tax year, enter name of the entity

prior to conversion:

ATTACH A COPY OF THE FEDERAL PARTNERSHIP RETURN, FORM 1065 AND COPIES OF ALL SCHEDULES, INCLUDING EACH FEDERAL K--1.

DOES THE PARTNERSHIP HAVE ANY PARTNERS WHO ARE NONRESIDENTS OF N.C.?

YES

NO If yes, the manager of the Partnership

must compute and pay the tax for each nonresident partner with this return (see instructions).

SCHEDULE A -- ADJUSTMENTS TO INCOME OR LOSS FROM U.S. PARTNERSHIP RETURN, FORM 1065 (See instructions for Schedule A).

1.	Enter the total income or loss (add lines 1 through 7 of Schedule K, Federal Form 1065)	. . .	. . . . . . . . . . . . . . . .	. . . . . .	D	1
2.	Additions to federal taxable income (see line instructions)	. . .	. . . . . . . . . . . . . . . .	. . . . . .	D	2
3.	Add lines 1 and 2 and enter the total here	. . .	. . . . . . . . . . . . . . . .	. . . . . .		3
4.	Deductions from federal taxable income (see line instructions)	. . .	. . . . . . . . . . . . . . . .	. . . . . .	D	4
	The total additions and deductions on lines 2 and 4 should be allocated to the individual partners in Schedule C on page 2 of this form.				D	4
5.	Subtract line 4 from line 3 and enter the result here (complete lines 6 through 12 only if there are nonresident partners)			. . . . . .		5
6.	Guaranteed payments to partners (see line instructions)	. . .	. . . . . . . . . . . . . . . .	. . . . . .	D	6
7.	Subtract line 6 from line 5 and enter the result here	. . .	. . . . . . . . . . . . . . . .	. . . . . .		7
8.	Net distributive partnership income to be apportioned to North Carolina (Important: See line instructions) .	. . .	. . . . . . . . . . . . . . . .	. . . . . .	D	8
9.	Net distributive partnership income solely from business activities in North Carolina (Important: See line instructions)			. . . . . .	D	9
10.	Total tax due for nonresident partners (total of column 18, Schedule D)	. . .	. . . . . . . . . . . . . . . .	. . . . . .	D	10
					D	10
11a. Tax paid with extension D_______________\| 00 11b. Other prepayments of tax D_______________			\| 00
11c. Tax paid by other partnerships / S corporations and/or tax withheld from personal services income		D	_______________ ____
				\| 00		11d
	(See line instructions.) Add lines 11a through 11c and enter the total on line 11d					11d

12.	Net tax due for nonresident partners (If line 10 is more than line 11d, subtract and enter the result)	. . .	. . . . . . . . . . . . . . . .	. . . . . .	D	12
13.	Penalties and Interest (See F. Penalties, Form D--403A)	. . .	. . . . . . . . . . . . . . . .	. . . . . .		13
						13
14.	Total tax, penalties, and interest due for nonresident partners (add lines 12 and 13 and enter the result	-- the manager of the
	partnership must pay this amount with the return -- see Schedule D instructions)		. . . . . . . . . . . . . . . .	. . . . . .		14
						14
15.	Amount to be refunded (If line 10 is less than line 11d, subtract and enter the result)	. . .	. . . . . . . . . . . . . . . .	. . . . . .	D	15

SCHEDULE B -- APPORTIONMENT PERCENTAGE FOR PARTNERSHIPS HAVING ONE OR MORE NONRESIDENT PARTNERS AND OPERATING IN NORTH CAROLINA AND IN ONE OR MORE OTHER STATES

1.COMPUTATION OF APPORTIONMENT FACTORS

PROPERTY

(Real or tangible property used in trade or business -- Use original cost )

Land, Buildings, Inventories, Other tangible property . . . . .

IN NORTH CAROLINA				TOTAL EVERYWHERE
BEGINNING OF		END OF TAXABLE		BEGINNING OF		END OF TAXABLE
TAXABLE YEAR		YEAR		TAXABLE YEAR		YEAR
	00		00		00		00

	IN NORTH CAROLINA		TOTAL		PERCENTAGE
PROPERTY VALUES (Average value of property above)		00		00
Add: Rentals		00		00
(a) PROPERTY FACTOR		00		00	%
Payroll -- (enter total)		00		00
Less: Compensation to partners		00		00
(b) PAYROLL FACTOR		00		00	%
(c) SALES FACTOR (attach schedule)		00		00	%
(d) SALES FACTOR (enter the same % as in (c) above)					%
(d) SALES FACTOR (enter the same % as in (c) above)		. . . . .
(e) TOTAL OF FOUR FACTORS (add lines a, b, c, and d and enter the total here)					%
		. . . . .
2. APPORTIONMENT PERCENTAGE -- Divide line (e) by four and enter the result here and in column 11, Schedule D for each				. . . . .	%
nonresident partner. (See instructions if less than four factors)

FORM D--403, Page 2

SCHEDULE C -- PARTNERS’ SHARES OF INCOME, ADJUSTMENTS, TAX CREDITS, ETC. (Complete Columns 1 through 7 below.)

Column 1	Column 2	Column 3	Column 4
Column 1	SOCIAL SECURITY	PARTNERS’	TYPE OF
NAME AND ADDRESS OF EACH PARTNER --	SOCIAL SECURITY	PARTNERS’	TYPE OF
NAME AND ADDRESS OF EACH PARTNER --	NUMBER OR FEDERAL	SHARES	PARTNER:
GIVE STREET AND NUMBER OR P. O. BOX NUMBER, CITY OR TOWN, STATE, AND ZIP CODE	NUMBER OR FEDERAL	SHARES	PARTNER:
	EMPLOYER I.D. NO.	%	(IND.,CORP.,PART., ETC.)
	EMPLOYER I.D. NO.	%	(IND.,CORP.,PART., ETC.)
a

b

c

d

Column 5

Column 6

Column 7

ADDITIONS TO FEDERAL TAXABLE INCOME

DEDUCTIONS FROM FEDERAL TAXABLE

TAX CREDITS

(FROM SCH. A, LINE 2, PAGE 1)

INCOME (FROM SCH. A, LINE 4, PAGE 1)

(ATTACH SEPARATE SCHEDULE)

Total

SCHEDULE D COMPUTATION OF TAX DUE FOR NONRESIDENT PARTNERS (Complete Columns 8 through 18 below.)--

Column 8

Column 9

Column 10

Column 11

GUARANTEED PAYMENTS TO

NONRESIDENT PARTNERS APPLICABLE

PERCENTAGE FROM COLUMN 3 TIMES

TOTAL

APPORTIONMENT PERCENTAGE

TO THE INCOME ON LINE 8, SCHEDULE A

AMOUNT ON LINE 8, SCHEDULE A

(ADD COLUMNS 8 AND 9)

(FROM LINE 2, SCHEDULE B)

Total

Column 13

Column 14

Column 15

Column 12

GUARANTEED PAYMENTS TO

NONRESIDENT PARTNERS APPLICABLE

PERCENTAGE FROM COLUMN 3

NORTH CAROLINA TAXABLE INCOME

(COLUMN 10 TIMES COLUMN 11)

TO THE INCOME ON LINE 9, SCHEDULE A

TIMES AMOUNT ON LINE 9, SCHEDULE A

ADD COLUMNS 12,13, AND 14

Total

Column 16

Column 17

Column 18

IMPORTANT:

TAX DUE

TAX CREDITS ALLOCATED TO NONRESIDENT

NET TAX DUE

The partnership must

(SEE TAX RATE SCHEDULE BELOW)

PARTNERS (FROM COLUMN 7 ABOVE)

(COLUMN 16 MINUS COLUMN 17)

provide each partner an

NC K--1 or other

information necessary for

the partner to prepare the

appropriate North

Carolina tax return. (See

Total

instructions.)

If the amount of each nonresident partner’s share

TAX RATE SCHEDULE

of North Carolina taxable income (from column 15) is more than

But not over

The tax is

$12,750

6% of the taxable income

$12,750

$60,000

$765 + 7% of taxable income over $12,750

$60,000

-- -- --

$4,072.50 + 7.75% of taxable income over $60,000

I certify that, to the best of my knowledge, this return is accurate and complete.

If prepared by a person other than taxpayer, this affirmation is based on all information of which preparer has any knowledge.

Signature of managing partnerDateSignature of preparer other than managing partnerDate

(	)
Telephone number (see instructions)			Address

CERTIFICATION: This certifies that this partnership

does (

does not) hold property including wages, accounts payable, etc., belonging to another

person or persons which has been unclaimed or abandoned pursuant to G. S. 116B.

Schedule NC K--1

(Form D--403) (Rev. 10--98)

NORTH CAROLINA DEPARTMENT OF REVENUE

PARTNER’S SHARE OF NORTH CAROLINA

INCOME, ADJUSTMENTS, TAX CREDITS, ETC.

For calendar year_______________

or other taxable year beginning __________________________, ending ___________________

Apartnership doing business in North Carolina uses Schedule NC K--1 to report your share of the partnership’s income, adjustments, tax credits, etc. You should use the information on Schedule NC K--1 to complete the appropriate North Carolina tax return. Please keep a copy of Schedule NC K--1 for your records. You do not have to file it with your tax return; however, you may use it as supporting documentation for the distributive share items shown below that are claimed on your tax return.

1	Partner’s identifying number	2	Partnership’s identifying number


3	Partner’s name, address, and ZIP code	4	Partnership’s name, address, and ZIP code

		(a) Distributive share item		(b) Amount	(c) Individuals who file Form D--400,
					enter the amount in column (b) on:

					(This amount should already be
5		Partner’s share of partnership income	5		included in federal taxable income)
					Page 2, line 33,
6		Partner’s share of additions to federal taxable income	6		Form D--400
					Page 2, line 40,
7		Partner’s share of deductions from federal taxable income	7		Form D--400
					Form D--400TC
8		Partner’s share of tax credits	8		(See Form D--400 instructions)
					Page 2, line 43,
9		Nonresident partner’s share of North Carolina taxable income	9		Form D--400
	10 Nonresident partner’s share of net tax paid by the manager of the partnership				Page 1, line 14c,
			10		Form D--400
			10		Form D--400
	11 Partner’s share of tax withheld from nonwage compensation paid for personal				Page 1, line 13,
		services performed in NC	11		Form D--400

Question	Answer
Form Name	Form D 403
Form Length	3 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	45 sec
Other names	D--403, 11d, K--1, LLC

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