Free 2008 IC-049 Form 5S - Wisconsin Tax-Option (S) Corporation Franchise or Income Tax Return - Wisconsin


File Size: 321.7 kB
Pages: 4
Date: December 12, 2008
File Format: PDF
State: Wisconsin
Category: Tax Forms
Author: revvar
Word Count: 1,532 Words, 16,962 Characters
Page Size: Letter (8 1/2" x 11")
URL

http://www.dor.state.wi.us/forms/2008/08ic-049.pdf

Download 2008 IC-049 Form 5S - Wisconsin Tax-Option (S) Corporation Franchise or Income Tax Return ( 321.7 kB)


Preview 2008 IC-049 Form 5S - Wisconsin Tax-Option (S) Corporation Franchise or Income Tax Return
Form

For 2008 or taxable year beginning

5S

Wisconsin Tax-Option (S) Corporation Franchise or Income Tax Return
M M D D Y Y Y Y

2008
D Y Y Y Y

and ending

M

M

D

Complete form using BLACK INK. DO NOT STAPLE OR BIND
Corporation Name

Due Date: 15th day of 3rd month following close of taxable year.
A Federal Employer ID Number B Business Activity (NAICS) Code State ZIP(+4digitsuffixifknown) C State of Incorporation and Year

Number and Street City D Check if applicable and attach explanation: 1 2 First return - new corporation or entering Wisconsin Final return - corporation dissolved or withdrew 3 4 Short period - change in accounting period Short period - stock purchase or sale

Enter abbreviation of state in box, or if a foreign country, enter below.

Check if applicable and see instructions: E F G H I If this is an amended return, attach an explanation of the changes. Ifyouhaveanextensionoftimetofile,entertheextendedduedate
M M D D Y Y Y Y

If no business was transacted in Wisconsin during the taxable year, attach a complete copy of your federal return. IfyouarefilingaForm1CNSonbehalfofnonresidentshareholders. Effective date of Wisconsin tax-option corporation election
M M D D Y Y Y Y

*C15S08991*
NO COmmAS; NO CENTS 1 2 3 4

J Total number of shareholders L

K Number of nonresident shareholders

IfyouhaverelatedentityexpensesandarerequiredtofileScheduleRTwiththisreturn.

ENTER NEGATIvE NumBERS LIKE THIS 1000

NOT LIKE THIS (1000)

1 Federal, state, and municipal government interest (see instructions) . . . . . . . . . . . . . . . . . . . . 2 Wisconsin apportionment percentage (from Form 4B, line 11, or Form 4B-1). This is a required field. If percentage is from Form 4B-1, check the space after the arrow. . . . . 3 Multiply line 1 by line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Enter 7.9% (0.079) of the amount on line 3. This is gross tax . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Manufacturer's sales tax credit (from Sch. MS, line 3) . . . . 5 6 Communitydevelopmentfinancecredit . . . . . . . . . . . . . . . 6

.00
.

.00 .00

.00 .00 .00 .00 .00 .00 .00 .00 .00

%

7 Add lines 5 and 6. This is total nonrefundable credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Subtract line 7 from line 4. If line 7 is more than line 4, enter zero (0). This is net tax . . . . . . . . 9 Additional tax on tax-option (S) corporations (from page 2, Schedule Q, line 10) . . . . . . . . . . . 10 Recyclingsurcharge(frompage2,ScheduleS,line4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Endangered resources donation (decreases refund or increases amount owed) . . . . . . 12 Veterans trust fund donation (decreases refund or increases amount owed) . . . . . . . . . . . . . . 13 Add lines 8 through 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Estimated tax payments less refund from Form 4466W. If this is an amended return, see instructions . . . . . . . . . . 14 15 Wisconsin tax withheld on amount on line 1 . . . . . . . . . . . 15 17 Interest, penalty, and late fee due (from Form 4U, line 17 or 26). If you annualized income on Form 4U, check the space after the arrow . . . . . . . . . . . . 18 Tax due. If the total of lines 13 and 17 is larger than line 16, enter amount owed. . . . . . . . . . . 19 Overpayment. If line 16 is larger than the total of lines 13 and 17, enter amount overpaid . . . 20 Enter amount of line 19 you want credited to 2009 estimated tax 20

7 8 9 10 11 12 13

.00 .00
16 17 18 19 21 22 23

16 Add lines 14 and 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

.00 .00 .00 .00 .00 .00 .00

21 Subtract line 20 from line 19. This is your refund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Enter total company gross receipts from all activities (see instructions) . . . . . . . . . . . . . . . . . . 23 Enter total company assets from federal Form 1120S, item F . . . . . . . . . . . . . . . . . . . . . . . . . .
IC-049i

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For Department Use Only

2008 Form 5S

Page 2

of 4

24 If the tax-option corporation paid, accrued, or incurred more than $100,000 of expenses toarelatedentity,ScheduleRTmustbefiledwiththisreturn.Certain related entity expenses may not be allowable unless disclosed on Schedule RT on a timely filed return. See instructions for details. On line 24, enter the total related entityexpensesdisclosedonScheduleRT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 If the tax-option corporation paid withholding tax on income distributable to nonresident shareholders, enter total amount paid for all shareholders for the taxable year . . . . . . . . . . . . Schedule Q - Additional Tax on Certain Built-In Gains 1 Excess of recognized built-in gains over recognized built-in losses (attach schedule) . . . . . . . . 2 Wisconsin taxable income before apportionment (attach computation schedule) . . . . . . . . . . . 3 Enter the smaller of line 1 or line 2. This is the net recognized built-in gain (see instructions) . . 4 Wisconsin apportionment percentage (from Form 4B, line 11, or Form 4B-1). This is a required field. If percentage is from Form 4B-1, check the space after the arrow . . . . 5 Multiply line 3 by line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Wisconsin net business loss carryforward (attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Subtract line 6 from line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Enter 7.9% (0.079) of the amount on line 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Communitydevelopmentfinancecredit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

24 25

.00 .00 .00 .00 .00
.

1 2 3 4 5 6 7 8 9

10 Subtract line 9 from line 8. This is the additional tax to enter on Form 5S, page 1, line 9 . . . . . 10 Schedule S - Recycling Surcharge 1 Enter net income (loss) (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Wisconsin apportionment percentage (from Form 4B, line 11, or Form 4B-1). This is a required field. If percentage is from Form 4B-1, check the space after the arrow . . . . 3 Multiply line 1 by line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Enter the greater of $25 or 0.2% (0.002) of the amount on line 3, but not more than $9,800. This is the recycling surcharge to enter on Form 5S, page 1, line 10 . . . . . . . . . . . . . . . . . . . . . Additional Information Required 1 Persontocontactconcerningthisreturn: 2 Cityandstatewherebooksandrecordsarelocatedforauditpurposes: Phone#: Fax#: 1 2 3 4

.00 .00 .00 .00 .00 .00 .00

%

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3 Are you the sole owner of any QSubs or LLCs? Yes No If yes, attach a list of the names and federal EINs of your solely owned QSubs and LLCs. Did you include the incomes of these entities in this return? Yes No 4 Did you purchase any taxable tangible personal property or taxable services for storage, use, or consumption in Wisconsin without payment of a state sales or use tax? Yes No If yes, you owe Wisconsin use tax. See instructions for how to report use tax. 5 DidanyadjustmentsmadebytheInternalRevenueServicetoyourincomeforprioryearsbecomefinalizedduringthisyear? Yes No Ifyes,seeinstructionsandindicateyearsadjusted: 6 ListthelocationsofyourWisconsinoperations:
Under penalties of law, I declare that this return and all attachments are true, correct, and complete to the best of my knowledge and belief .
SignatureofOfficer Preparer's Signature Title Preparer's Federal Employer ID Number Date Date

You must file a copy of your federal Form 1120S with Form 5S, even if no Wisconsin activity.
Ifyouarenotfilingelectronically,makeyourcheckpayabletoandmailyourreturnto: WisconsinDepartmentofRevenue PO Box 8908 Madison WI 53708-8908

*C25S08991*

2008 Form 5S (a) Pro rata share items

Schedule 5K Shareholders' Pro Rata Share Items
(b) Federal amount

Page 3

of 4

(c) Adjustment

(d) Amount under Wis. law

1 Ordinary business income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . 2 Net rental real estate income (loss) (attach Form 8825) . . . . . . 3 Other net rental income (loss) (attach schedule) . . . . . . . . . . . . Income (Loss) Deductions 4 Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Ordinary dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Royalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Net short-term capital gain (loss) . . . . . . . . . . . . . . . . . . . . . . . . 8 Net long-term capital gain (loss) . . . . . . . . . . . . . . . . . . . . . . . . . 9 Net section 1231 gain (loss) (attach Form 4797) . . . . . . . . . . . . 10 Other income (loss) (attach schedule) . . . . . . . . . . . . . . . . . . . . 11 Section 179 deduction (attach Form 4562) . . . . . . . . . . . . . . . . 12 a Contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Investment interest expense. . . . . . . . . . . . . . . . . . . . . . . . . . c Section 59(e)(2) expenditures (1) Type (2) Amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . d Other deductions (attach schedule) . . . . . . . . . . . . . . . . . . . . 13 a Manufacturing investment credit - from carryover at shareholder level . . . . . . . . . . . . . . . . . . . . . . . . b Manufacturing investment credit - from carryover at entity level . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Dairy and livestock farm investment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . d HealthInsuranceRisk-SharingPlanassessmentscredit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . e Ethanol and biodiesel fuel pump credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . f Development zones credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . g Development opportunity zone investment credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . h Development zone capital investment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Credits i Technology zone credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . j Early stage seed investment credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . k Supplement to federal historic rehabilitation tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . l Film production company investment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . m Film production services credit - nonrefundable portion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . n Internet equipment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . o Enterprise zone jobs credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . p Dairy manufacturing facility investment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . q Film production services credit - refundable portion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . r Tax paid to other states (enter postal abbreviation of state) (1) (2) (3) s Wisconsin tax withheld (do not include tax properly claimed on page 1, line 15) Foreign Transactions 14 a Name of country or U.S. possession . . . . . . . . . . . . . . . . . . . b Gross income from all sources . . . . . . . . . . . . . . . . . . . . . . . . c Gross income sourced at shareholder level . . . . . . . . . . . . . . Foreign gross income sourced at corporate level: d Passive category . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . e General category . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . f Other (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .............. .............. .............. ..............

2008 Form 5S (a) Pro rata share items (b) Federal amount (c) Adjustment

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(d) Amount under Wis. law

Deductions allocated and apportioned at shareholder level: g Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . h Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Foreign Transactions Deductions allocated and apportioned at corporate level to foreign source income: i Passive category . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . j General category . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . k Other (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other information: l Totalforeigntaxes(checkone): Paid Accrued . . . . mReductionintaxesforcredit(attach statement) . . . . . . . . . . n Other foreign tax information (attach statement) . . . . . . . . . . Alternative minimum Tax (AmT) Items Other 15 a Post-1986 depreciation adjustment . . . . . . . . . . . . . . . . . . . . b Adjusted gain or loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Depletion (other than oil and gas). . . . . . . . . . . . . . . . . . . . . . d Oil, gas, and geothermal properties gross income . . . . . . . e Oil, gas, and geothermal properties deductions . . . . . . . . . f Other AMT items (attach schedule) . . . . . . . . . . . . . . . . . . . . 16 a Tax-exempt interest income . . . . . . . . . . . . . . . . . . . . . . . . . . b Other tax-exempt income . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Nondeductible expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . d Property distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . e Repaymentofloansfromshareholders . . . . . . . . . . . . . . . . . 17 a Investment income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Investment expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Dividend distributions paid from accumulated earnings and profits . . . . . d Other items and amounts (attach schedule) 18 a Relatedentityinterestexpenseaddback . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Relatedentityrentalexpenseaddback . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Relatedentityinterestexpenseallowable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . d Relatedentityrentalexpenseallowable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Income/loss reconciliation (see instructions) . . . . . . . . . . . . . 20 Gross income (before deducting expenses) from all activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Schedule 5M Analysis of Wisconsin Accumulated Adjustments Account and Other Adjustments Account
(a) Accumulated Adjustments Account (b) Other Adjustments Account

1 Balance at beginning of taxable year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Ordinary income from Schedule 5K, line 1, column d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Other additions (including separately stated items which increase income) (attach schedule) . . 4 Loss from Schedule 5K, line 1, column d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ( 5 Other reductions (including separately stated items which reduce income) (attach schedule) . . . ( 6 Combine lines 1 through 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Distributions other than dividend distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Subtract line 7 from line 6. This is balance at end of taxable year . . . . . . . . . . . . . . . . . . . . . ) ) ( )