The Vermont Form BI 472 is a business income and expense form that is used to report income and expenses from a business. This form must be filed annually, and must be accompanied by Schedule C, Profit or Loss from Business. The BI 472 can be filed electronically or on paper. Instructions for completing the form are available on the Vermont Department of Taxes website.
This article offers details about vermont form bi 472. It'll provide you with the approximated time you'll need to fill in the form and some extra details.
Question | Answer |
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Form Name | Vermont Form Bi 472 |
Form Length | 4 pages |
Fillable? | No |
Fillable fields | 0 |
Avg. time to fill out | 1 min |
Other names | APPORTIONMENT, 1998, 12a, WH-435 |
VT DEPARTMENT OF TAXES
Montpelier, Vermont
2007 VERMONT S Corporation Schedule
PRINT in BLUE or BLACK INK
Business/Entity Name
*074721199*
* 0 7 4 7 2 1 1 9 9 *
Attach to Form
Vermont Business Account Number
# # # # # # X X
Place an “X” in the box left of the line number to indicate a loss amount.
Enter all amounts in whole dollars.
FOR NONRESIDENTS ONLY
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From Federal Form 1120S (2007) pp. |
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6, 7, 8a, 9 & 10. Subtract Lines 11, 12a, 12b, 12c(2) & 12d. Include total recapture of section 179 expense deduction reported to shareholders in |
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Section 17 of their Schedule |
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Form 1120S. Attach complete copy of Federal Form 1120S and |
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all Federal Schedule |
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ADD Interest on nonVermont state and local obligations |
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SUBTRACT |
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Interest on U.S. Government obligations |
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Targeted Job Credit salary and wage expense add back . |
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(c) |
.SUBTOTAL Add Lines 3(a) & 3(b) |
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TOTAL NET INCOME {Add Lines 1 and 2 and then subtract Line 3(c)} . . . |
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INCOME ALLOCATED EVERYWHERE |
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NETAPPORTIONABLE INCOME Subtract Line 5 from Line 4. |
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Enter the result here |
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3(c).
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7.VERMONT APPORTIONMENT PERCENTAGE
(100% or amount from VT Form
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NET INCOME apportioned to Vermont (Multiply Line 6 by Line 7) |
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TOTAL NET INCOME Allocated and Apportioned to Vermont (add VT Form |
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Indicate each nonresident shareholder’s share of Line 9 on Side 2.
Form
(Rev. 10/07)
Business/EntityName___________________________________________________________________
Vermont Business Account Number
# # # # # # X X
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(C) |
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(F) |
Shareholder’s Name and Address |
Social Security Number or |
Individual |
Shareholder’s Share of |
Total Fiscal Year |
Filing With |
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Federal I.D. Number |
Percentage of |
Line 9 |
Estimated Payments |
Entity’s Compos- |
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Loss or Income |
(Vermont Net Income) |
(VT Form |
ite Return? |
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Yes / No |
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(Enter information from Columns C, D, E, and F on VT Schedule |
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1. ____________________________ |
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2. ____________________________ |
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3. ____________________________ |
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4. ____________________________ |
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5. ____________________________ |
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6. ____________________________ |
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7. ____________________________ |
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8. ____________________________ |
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9. ____________________________ |
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TOTALS |
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Attach additional sheets in the same format as necessary |
Form |
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(Rev. 10/07)
2007
FORM
S CORPORATION SCHEDULE INSTRUCTIONS
For Those Entities Filing Federal Form 1120S
and Having Vermont Nonresident Shareholders.
DO NOT COMPLETE FORM
all of your shareholders were Vermont residents for the entire year.
Regulation
Form
Effective for tax years beginning on or after January 1, 1998, the
For taxable years beginning on or after January 1, 1997, S Corporations are treated as
Technical Bulletin 5
Refer to Vermont Department of Taxes’ Technical Bulletin
**RETURNS AND PAYMENTS CANNOT BE PROCESSED WITHOUT THE VERMONT BUSINESS ACCOUNT NUMBER (VBA#) **
Please use blue or black ink.
Enter your business name and Vermont Business Account Number (VBA#).
Line 1: Combine Lines 1, 2, 3c, 4, 5a, 6, 7, 8a, 9, and 10, and subtract Lines 11, 12a, 12b, 12c(2), and 12d of Federal Form 1120S (2007) pp.
Adjustments To Taxable Income
Line 2: Enter the amount of interest received from nonVermont state and local obligations that were exempted from Federal tax.
Line 3: (a) Enter the amount of interest received from U.S. Government Obligations.
(b)Enter the wage expense associated with targeted jobs credit disallowed on the Federal return by IRC Section 280C(a).
(c)Add Lines 3(a) and 3(b) and enter the result here.
Line 4: Total Net Income (loss) Add Lines 1 and 2 and then subtract Line 3(c). Enter the result here.
Line 5: Income Allocated Everywhere Enter the amount from VT Form
Line 6: Net Apportionable Income Subtract Line 5 from Line 4. Enter the result here.
Line 7: Vermont Apportionment Percentage Enter 100% or amount from VT Form
Line 8: Net Income Apportioned to Vermont Multiply Line 6 by Line 7 and enter the result here.
Line 9: Total Net Income Allocated and Apportioned to Vermont Add VT Form
FORM
Nonresident Share of Line 9 (Reported on Side 2 of VT Form
Complete columns (A) through (F) on Side 2 for each nonresident shareholder. DO NOT include Vermont resident shareholder information. However, VT Schedule
The nonresident shareholder’s portion is the amount of Line 9 based on his/her proportionate share.
Multiply the amount on Line 9 by the percentage of ownership reported on Federal Schedule
Indicate each of the nonresident shareholder’s portion of Line 9 in column (D).
Use column (E) to indicate the total year estimated payments made (with VT Form
If this entity is eligible to file a composite (block) return, indicate in column (F) those members consenting to and included in this filing. The total for Column D, for those marked “yes” in Column F, is the total for VT Form
VT Schedule
The required form for all shareholders, VT Schedule
Mail Forms VT
Mailing address: |
Taxpayer Services: |
(802) |
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Email Address: |
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Vermont Department of Taxes |
Web Site Address: |
http://www.state.vt.us/tax |
133 State Street |
Facsimile: |
(802) |
Montpelier, VT |
Forms: |
(802) |