Rd 108 Form is a document that is used to report estate and gift tax information. The form must be completed by the executor of the estate or the person who has transferred the gift. The information on the form is used to determine if any taxes are owed on the estate or gifts. Penalties may apply for inaccurate or incomplete information on the form. It is important to carefully complete this form and submit it as soon as possible after the event has occurred.
Below is the information relating to the form you were looking for to fill out. It will tell you the length of time you'll need to finish rd 108 form, what parts you will have to fill in, and so on.
Question | Answer |
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Form Name | Rd 108 Form |
Form Length | 6 pages |
Fillable? | No |
Fillable fields | 0 |
Avg. time to fill out | 1 min 30 sec |
Other names | michigan rd 108 form, michigan title form, michigan rd108 2020, rd108 electronic |
City of Kansas City, Missouri - Revenue Division |
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2020 |
PROFITS RETURN |
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EARNINGS TAX |
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kcmo.gov/quicktax |
Legal Name:
DBA Name:
FEIN or SSN:
Account ID:
Period From:
1. Type of Business
Period To:
A. *Partnership
(No. of partners: _______)
(Check if informational)
Mailing Address:
Business Address:
B. Corporation |
C. Proprietorship |
D. Fiduciary |
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F. None of the Above |
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Enter "X" if nonresident business |
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DOLLARS CENTS |
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KCMO Gross receipts only (See Instructions) |
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Income from business or profession (IF LOSS ENTER 0) (from Schedule C, Y, Z) |
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Other taxable earnings, not included in Schedule C |
(IF LOSS ENTER 0) |
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Total taxable earnings |
(Line 4 plus Line 5) |
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Tax Due |
(1% of Line 6) |
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(DUE ON OR BEFORE |
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Profits tax paid with extension Form |
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Profits tax paid to other city, not to exceed Line 7 |
(RESIDENT BUSINESS ONLY) |
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(ATTACH EVIDENCE OF PAYMENT) |
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Amount Due (Line 7 less Lines 8 and 9, not less than 0) |
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Penalty |
(5% per month of Line 10, not to exceed 25%) |
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Interest |
(1% per month of Line 10 until tax is paid in full) |
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Total Amount Due |
(sum of Lines 10, 11 and 12) |
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Overpayment to be credited |
(Lines 8 + 9 less Line 7) |
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Overpayment to be refunded |
(Lines 8 + 9 less Line 7) |
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16. |
Amount Paid |
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$ |
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17. |
"X" if amended |
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18. |
If no longer conducting business in Kansas City, MO enter date closed |
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DO NOT COMPLETE IF BUSINESS IS STILL OPERATING |
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Notes: |
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*If Partnership is passing taxable income to partners, enter 0 on Line 4
*Please attach a copy of Federal Tax Return and / or
DO NOT SEND CASH. Make check payable to: KCMO City Treasurer
Mail to: City of Kansas City, Missouri, Revenue Division, PO Box 843322 Kansas City, MO
I authorize the Commissioner of Revenue or delegate to discuss my return and attachments with my preparer. Yes Under penalties of perjury, I declare this return to be true, correct, and complete accounting for the taxable year
stated.
No
Print Name of Taxpayer |
Signature |
Title |
Date |
Phone |
Preparer Name (if other than taxpayer) Signature |
Title |
Date |
Phone |
City of Kansas City, Missouri - Revenue Division |
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2020 |
PROFITS RETURN |
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EARNINGS TAX |
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Phone: |
(816) |
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kcmo.gov/quicktax |
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GENERAL INSTRUCTIONS FOR FILING FORM
1.Who must file:
•Every resident individual who derives income from an unincorporated business, association, profession, or other business activity.
•Every nonresident individual who derives income from an unincorporated business, association, profession, or other business activity within the city.
•Every corporation and partnership conducting business within the city or rendering or performing services within the city.
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2.Exceptions:
•File Form
•Form
3.When and where to file:
•This return is due on or before May 17 of each year unless your annual accounting period is on a fiscal year basis in which case it is due 105 days from the end of your fiscal year. In the event a corporation or partnership ceases to engage in any business activity in the city, the income from which is taxable in whole or in part, a final return shall be due within 105 days from the date such business activity is terminated. Mail completed returns to the City of Kansas City, Missouri, Revenue Division, PO Box 843322 Kansas City, MO
•Extension
Complete Form
City of Kansas City, Missouri - Revenue Division |
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2020 |
PROFITS RETURN |
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EARNINGS TAX |
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Phone: |
(816) |
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kcmo.gov/quicktax |
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GENERAL INSTRUCTIONS FOR FILING FORM
Line 1. Indicate type of business.
Line 2. Check if nonresident business (not located in Kansas City, Missouri)
Line 3. Enter gross receipts amount shown on Form
Line 4. Enter total taxable net profit from business or profession shown on
ENTITY, PLEASE NOTE ADDITIONAL INSTRUCTIONS UNDER SCHEDULE Z FOR FILING OPTIONS.
Line 5. Enter any other taxable earnings or profits and ATTACH SCHEDULE showing computation of this amount including partnership income. IF LOSS, ENTER "0".
Line 6. Total taxable earnings (Line 4 plus Line 5).
Line 7. Multiply Line 6 by .01 (1%) and enter on this line.
Line 8. Enter estimated profits tax paid with extension plus any profits tax credits carried forward from prior periods. The balance of the tax is due with the filing of the return together with interest at 12% per annum from the date the return was originally due. If the return is not filed and the balance of the tax due is NOT paid within the period as extended, penalty of 5% per month up to but not exceeding 25% shall be computed in addition to the interest charges. Extension payment must be 90% of the tax due to avoid penalty and interest.
Line 9. Only residents are allowed a credit for earnings tax or income tax paid to another city. This credit is to be applied only to the extent of the tax imposed by Kansas City (1% rate) upon amounts earned in other cities where the tax is paid. The credit may not exceed the amount of tax due on Line 7. ATTACH DOCUMENTATION OF TAX
PAYMENT.
Line 10. Line 7 minus the sum of Lines 8 and 9.
Line 11. If the return is delinquent, compute penalty on the amount in Line 10 from the due date to date of payment at 5% per month or portion thereof and enter on this line.
Line 12. If return is delinquent, compute interest on the amount in Line 10 from the due date to date of payment at .01 (1%) per month or portion thereof and enter on this line.
Line 13. Total amount due (sum of Lines 10, 11 and 12).
Line 14. If the sum of Lines 8 and 9 is greater than Line 7, enter the difference on Line 14 to receive CREDIT;
OR
Line 15. Enter the difference on Line 15 to receive a REFUND. Overpayments of less than $1.00 will not be refunded.
Line 16. Enter amount paid.
Line 17. "X" if this is an amended return.
Line 18. Enter date business stopped operating inside Kansas City, Missouri or closed.
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City of Kansas City, Missouri - Revenue Division |
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2020 |
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PROFITS RETURN - EARNINGS TAX |
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Schedule C, Y, Z |
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Phone: |
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kcmo.gov/quicktax |
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SCHEDULE C - PROFIT (OR LOSS) FROM BUSINESS OR PROFESSION |
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DOLLARS |
CENTS |
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1. |
Gross receipts or gross sales, fees, or commissions less returns and allowances |
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2. |
Cost of goods sold: |
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DOLLARS |
CENTS |
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A. Inventory at beginning of year |
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2A |
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B. Purchases |
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2B |
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C. Wages |
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2C |
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D. Other costs (attach worksheet) |
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E. Total (Lines 2A through 2D) |
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2E |
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F. Less inventory at end of year |
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2F |
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G. Net cost of goods sold (Line 2E less Line 2F) |
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2G |
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3. |
Gross profit (Line 1 less Line 2G) |
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3 |
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4. |
Other business income (specify) |
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5. |
Total business income before deductions (Line 3 plus Line 4) |
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6. |
Officer Compensation |
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12. Interest |
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Salaries |
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13. Depreciation |
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Repairs & maintenance |
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14. Depletion |
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Bad debts |
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15. Advertising |
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10. Rents |
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16. Pension, |
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11. Taxes (Federal, state and |
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17. Employee benefit |
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local taxes are NOT deductible) |
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programs |
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18. Other deductions (Special |
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deductions are NOT deductible) |
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19. Total business deductions |
(Line 6 through Line 18) |
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20. Net profit or loss |
(Line 5 less Line 19, enter on Line 4, Form |
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SCHEDULE Y - BUSINESS ALLOCATION FORMULA |
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21. Total net profit (from Schedule C, Line 20) |
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A: |
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B: |
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Everywhere |
DOLLARS CENTS |
In KCMO |
DOLLARS CENTS B divided by A |
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22. Original cost of real and tangible personal property located |
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23. Total wages, salaries, commissions, and other |
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compensation of all employees |
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24. Gross receipts from sales, work or services performed |
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25. Total percentage (Line 22C through Line 24C) |
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26. Allocation percentage (divide total percentage from Line 25 by the number of percentages used) |
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27. Taxable net profit |
(Line 21 multiplied by percentage from Line 26, enter amount on Line 4, |
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SCHEDULE Z - DISTRIBUTIVE SHARES OF |
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LIMITED LIABILITY COMPANIES, AND FIDUCIARIES |
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Name and address of each taxpayer |
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Distributive |
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Social Security or |
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Resident |
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Taxable Distributive |
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(attach additional sheets if necessary) |
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Percentage |
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Federal ID Number |
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(Yes / No) |
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Shares Amount |
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3. |
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4. |
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100% |
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Total, Enter on Line 4, Form |
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City of Kansas City, Missouri - Revenue Division |
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2020 |
PROFITS RETURN - EARNINGS TAX |
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Schedule C, Y, Z |
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Phone: |
(816) |
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kcmo.gov/quicktax |
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INSTRUCTIONS FOR COMPLETING SCHEDULES C, Y, Z
THIS FORM MUST BE SUBMITTED WITH FORM
1. Schedule C
From total net profits, deduct profits exempted, excluded, or not earned. The remainder shall be deemed "Net Profits Earned". Exemptions and exclusions are cited in 92.220 RSMo and Section
Common Examples of Income not Earned: capital gains, interest (excluding financial institutions), dividends (excluding financial institutions) and partnerships (KCMO sourced income should be reported on Line 5 on Form
Common Examples of Nondeductible Expenses: capital losses, IRS §179 expense deducted above corporate limitations, qualified retirement/health insurance/life insurance plans paid on behalf of owner(s) of non
Each corporation must file a return. Per Section 1.387(a)(3)(A) of the Earnings and Profits Tax Regulations, consolidated returns will not be accepted. A net loss may not be carried forward or back to another year. A net loss may not be deducted against salaries, wages, or other compensation earned.
Proprietorships, partnerships, and corporations should submit a Balance Sheet and a reconciliation of federal taxable income to city taxable income.
2. Schedule
The business allocation formula is to be used only by:
1.Corporations;
2.Nonresident individuals who derive profits from any unincorporated business, partnership, or association provided that the business activity consists of conducting business or performing services both within and outside the city.
In determining the allocation percentage (Line 26), add the percentage determined and shown on Lines 22, 23, and 24 or the percentages applicable to your business and divide the total by the number of percentages used (calculate to seven digits). A percentage shall not be excluded from the computation merely because the factor is found to be allocable entirely outside the city. A factor and its resulting "0" percentage is excludable only when it does not exist anywhere.
City of Kansas City, Missouri - Revenue Division |
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2020 |
PROFITS RETURN - EARNINGS TAX |
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Schedule C, Y, Z |
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Phone: |
(816) |
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kcmo.gov/quicktax |
3. Schedule
Each
Resident
Nonresident
Guaranteed Payments
Payment
Partnerships and other
Option 1: The partnership or
Option 2: The partnership or
File completed Form
City of Kansas City, Missouri, Revenue Division, PO Box 843322 Kansas City, MO
Visit our website at kcmo.gov/kctax for more forms and instructions