Vermont MeF ATS Test Package for Tax Year 2015

Transcription

1 Vermont MeF ATS Test Package for Tax Year 2015

2 Table of Contents General Information... 3 Who Must Test?... 3 Why Test?... 3 What is tested?... 3 When to test?... 3 Test Feedback Report and Certification Letter... 4 Direct Debit... 4 Transmitting Testing Files... 4 Test Acknowledgment... 4 Vermont Schema and Forms Supported... 4 Software Developer Responsibilities... 5

3 General Information This publication describes the Vermont State Acceptance Testing system procedures for software developers participating in Vermont s MeF electronic filing program using currently accepted Vermont schema versions. Who Must Test? All software developers who wish to participate in supporting Vermont returns for electronic filing must complete the ATS test package provided by Vermont. All software developers are required to fill out a Vermont Electronic Filing Participation letter before beginning to test. The letter is located at Before submitting the first test file, an is required to alert the e-file coordinator. Why Test? Testing is performed to ensure that the software adheres to Vermont s business rules and to ensure successful transmission and receipt of acknowledgments. A list of all approved software developers will be posted to the Vermont Department of Taxes website at as well as any limitations associated with the software. The Vermont MeF Handbook, Vermont Schema, MeF Validations Spreadsheet, MeF XpathMapping Spreadsheet, 8879-VT-C are located at The Vermont MeF Handbook is also located at The 8879-VT-C is approved as part of the e-file testing process for preparer products. What is tested? Vermont s test package includes 8 test returns and includes information needed to prepare each return. A completed return for each test case is provided. All 8 test cases must be submitted for each Online and Preparer product. Vermont does not limit the type of form or schedule that your software will support. Please indicate what is not supported to the e-file coordinator. All forms do not need to be supported to pass ATS testing for Vermont. The Vermont MeF Handbook should be used for general system instructions. Also refer to current release of Vermont schema, validations and data elements available at When to test? Testing can begin with Vermont as soon as the IRS opens its testing platform. ATS testing is scheduled to begin in early November, but is subject to IRS system availability. It is suggested that all software testing be completed by March 1 st (exceptions can be made).

4 Test Feedback Report and Certification Letter Within 48 hours after Vermont receives the test file, you will receive an if there is anything wrong with your file. If errors are found, you must resubmit the entire test package. A separate letter will be sent for an Online product and Preparer product. Once testing is completed, you will receive a certification letter indicating you are approved for Vermont. Direct Debit Vermont will be accepting direct debit. **NOTE taxpayer may get a bill if the payment is posted for a date past the original due date. A payment may be for all or a portion of the balance due. Vermont allows 5 days after the due date for processing the direct debit as the IRS does. Transmitting Testing Files Returns must be transmitted through the IRS MeF system for federal and state return processing. Both Fed/State and State Only returns can be submitted. Each return (Fed/State or State Only) must be a separate submission. Multiple submissions may be contained in a single message payload. Test Acknowledgment Vermont will post acknowledgments to the MeF Fed/State Acknowledgment System and will follow the IRS acknowledgment schema for both testing and production. Vermont Schema and Forms Supported Software Developers use 1120 and 1065 MeF forms based schemas and the Vermont forms based schemas/spreadsheet. Edits and verification of business rules are defined for each field or data element. The state spreadsheet will include information on the field type, field format, the business rule and other edits. Developers should apply data from the state spreadsheet and tax forms to the appropriate data element in the XML schema. All XML data must be well formed. Vermont s State Specific schema supports the forms below; software developers are not required to support all the forms that Vermont accepts electronically. Form BI- 471 Business Income Return Schedules BI-472 Non- Composite Schedule BI-473 Composite Schedule K1VT Shareholder, Partner, or Member Information BA-402 Apportionment & Allocation Schedule BA-404 Tax Credits Earned, Applied, Expired, and Carried Forward BA-406 Credit Allocation Schedule

5 Form BI -476 Business Income Tax Return for Residents Only Schedules BA-404 Tax Credits Earned, Applied, Expired, and Carried Forward BA-406 Credit Allocation Schedule Form CO-411 Corporate Income Tax Return Schedule BA-410 Corporate Income Tax affiliation Schedule BA-402 Apportionment & Allocation Schedule BA-404 Tax Credits Earned, Applied, Expired, and Carried Forward CO-421 Unitary Affiliate Schedule CO-420 Foreign Dividend Factor Increments CO-419 Apportionment of Foreign Dividends Software Developer Responsibilities If the Software Developer is not acting as the ERO, the Software Developer is responsible for providing state acknowledgments to the ERO no later than two days after receipt. Failure to do so could lead to suspension from the Vermont Program. Software errors which cause electronic returns to be rejected that surface after testing has been completed should be quickly corrected to ensure that the ERO has the ability to timely and accurately file its electronic returns. Software updates related to software errors should be distributed promptly to users together with any documentation needed.

6 VERMONT TEST CASES Test 1 Direct Debit Vermont Forms Required: BI476 Direct Debit Info for Vermont Routing Number: Checking Account Number: Payment date: same as return date

7 VT Form BI-476 BUSINESS INCOME TAX RETURN For Resident Only For Partnerships, Subchapter S Corporations, and LLCs Entity Name Address Check appropriate box(es) * * * * ACCOUNTING PERIOD CHANGE EXTENDED RETURN INITIAL RETURN FINAL RETURN (CANCELS ACCOUNT) Tax year BEGIN date (YYYYMMDD) Tax year END date (YYYYMMDD) City State ZIP Code Entity s Primary 6-digit NAICS number Foreign Country (if not United States) Federal tax return filed (check one box) 1120S 1065 Other A. Were any shareholders, partners, or members nonresidents of Vermont during this reporting tax year?... Yes No If Yes, STOP and complete Form BI-471. B. Did this entity have income or losses derived from at least one state other than VT?.... Yes No If Yes, STOP and complete Form BI-471. C. Total number of Vermont shareholders, partners, or members...c. TAX COMPUTATION (see instructions) Enter all amounts in whole dollars. 1. Vermont minimum entity tax ($250) NOTE: If you qualify for an exception to the Vermont minimum entity tax, you must complete Form BI-471 and attach supporting documentation. 2. Payments previously made for this tax year with extension Form BA-403 or credit available through prior year carryforward Balance Due (If Line 1 is greater than Line 2) Overpayment (If Line 2 is greater than Line 1) Overpayment to be Refunded Overpayment to be credited to next tax year I hereby certify that I am an officer or authorized agent responsible for the taxpayer s compliance with the requirements of Title 32 of the Vermont Statutes and that this return is true, correct and complete to the best of my knowledge. If prepared by a person other than the taxpayer, this declaration further provides that under 32 V.S.A. 5901, this information has not been and will not be used for any other purpose, or made available to any other person, other than for the preparation of this return unless a separate valid consent form is signed by the taxpayer and retained by the preparer. Signature of Officer or Authorized Agent Date Daytime telephone number (optional) ( ) Printed name address (optional) May the Dept. of Taxes discuss this return with the preparer shown? Yes No Paid Preparer s Use Only Preparer s signature Preparer s printed name Firm s name (or yours if self-employed) and address Date Preparer s Social Security No. or PTIN Check if self-employed EIN Preparer s Telephone Number ( ) Preparer s address (optional) 5454 Form BI-476 (Rev. 05/14)

8 Test 2 Vermont Forms Required: BI476, 3 BA406 s, BA404 Direct Debit Info for Vermont Routing Number: Checking Account Number:

9 VT Form BI-476 BUSINESS INCOME TAX RETURN For Resident Only For Partnerships, Subchapter S Corporations, and LLCs Entity Name Address Check appropriate box(es) * * * * ACCOUNTING PERIOD CHANGE EXTENDED RETURN INITIAL RETURN FINAL RETURN (CANCELS ACCOUNT) Tax year BEGIN date (YYYYMMDD) Tax year END date (YYYYMMDD) City State ZIP Code Entity s Primary 6-digit NAICS number Foreign Country (if not United States) Federal tax return filed (check one box) 1120S 1065 Other A. Were any shareholders, partners, or members nonresidents of Vermont during this reporting tax year?... Yes No If Yes, STOP and complete Form BI-471. B. Did this entity have income or losses derived from at least one state other than VT?.... Yes No If Yes, STOP and complete Form BI-471. C. Total number of Vermont shareholders, partners, or members...c. TAX COMPUTATION (see instructions) Enter all amounts in whole dollars. 1. Vermont minimum entity tax ($250) NOTE: If you qualify for an exception to the Vermont minimum entity tax, you must complete Form BI-471 and attach supporting documentation. 2. Payments previously made for this tax year with extension Form BA-403 or credit available through prior year carryforward Balance Due (If Line 1 is greater than Line 2) Overpayment (If Line 2 is greater than Line 1) Overpayment to be Refunded Overpayment to be credited to next tax year I hereby certify that I am an officer or authorized agent responsible for the taxpayer s compliance with the requirements of Title 32 of the Vermont Statutes and that this return is true, correct and complete to the best of my knowledge. If prepared by a person other than the taxpayer, this declaration further provides that under 32 V.S.A. 5901, this information has not been and will not be used for any other purpose, or made available to any other person, other than for the preparation of this return unless a separate valid consent form is signed by the taxpayer and retained by the preparer. Signature of Officer or Authorized Agent Date Daytime telephone number (optional) ( ) Printed name address (optional) May the Dept. of Taxes discuss this return with the preparer shown? Yes No Paid Preparer s Use Only Preparer s signature Preparer s printed name Firm s name (or yours if self-employed) and address Date Preparer s Social Security No. or PTIN Check if self-employed EIN Preparer s Telephone Number ( ) Preparer s address (optional) 5454 Form BI-476 (Rev. 05/14)

10 BA-406 PRINT in BLUE or BLACK INK Business Name CREDIT ALLOCATION SCHEDULE * * * * Attach to Form BI-471 or Form BI-476 Fiscal Year Ending (YYYYMMDD) Individual Last Name (Shareholder, Partner or Member) First Name Initial Social Security Number OR Entity Name (Shareholder, Partner or Member) OR Entity TYPE. Enter I, C, S, L, P, or T (see instructions)... Name of Credit Amount earned in current year 1. Total EATI credits Charitable Housing Research and Development Machinery and Equipment Affordable Housing Federally Declared Disaster Recently Deployed Veteran Vermont Entrepreneur s Seed Capital Fund Qualified Sale of Mobile Home Park Wood Products Manufacture Historic Rehabilitation Facade Improvement Code Improvement Business Solar Energy Total credits for this shareholder, partner, or member Schedule BA /14

13 BA-404 PLEASE PRINT CLEARLY in BLUE or BLACK INK ONLY Enter all amounts in whole dollars. Business Name TAX CREDITS EARNED, APPLIED, EXPIRED, AND CARRIED FORWARD * * * * (A) Amount Carried Forward from Prior Years 1. Total EATI Credits 2. Charitable Housing 5830c 3. Research and Development 5930ii 4. Machinery and Equipment 5930ll 5. Affordable Housing 5930u Federally Declared Disaster 5930bb(d) NOT AVAILABLE (B) Amount Earned Current Year (C) Amount Applied Current Year (D) Amount Carried Forward to Future Years 7. Recently Deployed Veteran 5930nn 8. Vermont Entrepreneur s Seed Capital Fund 5830b 9. Qualified Sale of Mobile Home Park Wood Products Manufacture 5930y NOT AVAILABLE NOT AVAILABLE NOT AVAILABLE NOT AVAILABLE 11. Historic Rehabilitation 5930cc(a) 12. Facade Improvement 5930cc(b) 13. Code Improvement 5930cc(c) 14. Business Solar Energy 5930z 15. TOTAL FOR ALL CREDITS (Add Lines 1-14)... Schedule BA-404 Rev. 05/14

14 Test 3 Vermont Forms Required: BI471, BI473, 3 K1VT s Bank Info: Routing Number: Checking Account Number:

15 VT Form BI-471 BUSINESS INCOME TAX RETURN * * * * For Partnerships, Subchapter S Corporations, and LLCs Entity Name Address Check appropriate box(es) COMPOSITE RETURN AMENDED RETURN ACCOUNTING PERIOD CHANGE EXTENDED RETURN INITIAL RETURN FINAL RETURN (CANCELS ACCOUNT) Tax year BEGIN date (YYYYMMDD) Tax year END date (YYYYMMDD) City State ZIP Code Entity s Primary 6-digit NAICS number Foreign Country (if not United States) Federal tax return filed (check one box) 1120S 1065 Other A. Were any shareholders, partners, or members nonresidents of Vermont during this tax year?... Yes No B. Did this entity have income or losses derived from at least one state other than VT? If Yes, complete and attach Schedule BA Yes No C. Net adjustment to income resulting from Vermont s disallowance of bonus depreciation (IRC 168(k)).... C.. D. Total number of Shareholders, Partners, or Members... D. E. How many are VT residents?... E. F. How many are nonresidents?... F. G. Check box if 5920(f) or (g) applies (regarding nonresident estimated payments for affordable housing projects or entities operating federal new market tax credit projects). Attach authorization or documentation... G. TAX COMPUTATION (see instructions): Enter all amounts in whole dollars. Check box if exception applies SMALL FARM 5832(2)(A) ($75 minimum) NO VERMONT ACTIVITY / INACTIVE ($0) INVESTMENT CLUB 5921 ($0) IRC Sec. 761 ($0) 1. Vermont minimum entity tax ($250) or above exception (see instructions) For non-composite entities, nonresident estimated payment requirement (Schedule BI-472, Line 16) For composite entities, Vermont composite tax due (Schedule BI-473, Line 21) Vermont apportionment of entity level taxes (see instructions) Total tax due (Add Lines 1-4) Balance due (from Line 13). (continued on next page) Form BI-471 Rev. 06/14

16 Entity name * * * * Amount from Line 5 PAYMENTS AND CREDITS Enter all amounts in whole dollars. 6. Prior Year Overpayment Applied Payments with Extension Real estate withholding paid for this entity with Form RW-171, REW Schedule A Real estate withholding distributed to this entity by a different company through a Schedule K-1VT Nonresident estimated payments paid by this entity with Form WH Nonresident estimated payments distributed to this entity by a different company through a Schedule K-1VT Total payments (Add Lines 6-11) RECONCILIATION Enter all amounts in whole dollars. 13. Balance due: If Line 5 is greater than Line 12, enter the difference Payment attached to this return Overpayment: If Line 5 is less than the sum of Lines 12 and 14, enter the difference For non-composite entities only: Overpayment distributed to owners via Schedule K-1VT (NOTE: Overpayments generated by real estate withholding payments must be distributed to owners) Overpayment to be credited to next tax year Overpayment to be refunded I hereby certify that I am an officer or authorized agent responsible for the taxpayer s compliance with the requirements of Title 32 of the Vermont Statutes and that this return is true, correct and complete to the best of my knowledge. If prepared by a person other than the taxpayer, this declaration further provides that under 32 V.S.A. 5901, this information has not been and will not be used for any other purpose, or made available to any other person, other than for the preparation of this return unless a separate valid consent form is signed by the taxpayer and retained by the preparer. Signature of Officer or Authorized Agent Date Daytime telephone number (optional) ( ) Printed name address (optional) May the Dept. of Taxes discuss this return with the preparer shown? Yes No Paid Preparer s Use Only Preparer s signature Preparer s printed name Firm s name (or yours if self-employed) and address Date Preparer s Social Security No. or PTIN Check if self-employed EIN Preparer s Telephone Number ( ) Preparer s address (optional) 5454 Form BI-471 Rev. 06/14

17 BI-472 PRINT in BLUE or BLACK INK Business Name NON-COMPOSITE SCHEDULE * * * * Attach to Form BI-471 Place an X in the box left of the line number to indicate a loss amount. Enter all amounts in whole dollars. 1. Ordinary Business Income (Federal Form 1120S, Line 21 or Federal Form 1065, Line 22) Net Real Estate Income (Federal Form 1120S, Schedule K, Line 2 or Federal Form 1065, Schedule K, Line 2) Other Net Rental Income (Federal Form 1120S, Schedule K, Line 3 or Federal Form 1065, Schedule K, Line 3) Guaranteed Payments (Partnership only - Federal Form 1065, Schedule K, Line 4) Section 179 Deduction (Federal Form 1120S, Schedule K, Line 11 or Federal Form 1065, Schedule K, Line 12) Apportionable income (Add Lines 1-4, then subtract Line 5) Apportionment percentage (From BA-402, or 100%) % 8. Business Income apportioned to Vermont (Multiply Line 6 by Line 7) Income directly allocable to Vermont generated by this entity (Capital gain on real estate and physical assets located in Vermont, royalties on property located in Vermont, etc.) Vermont business income distributed to this entity by a different entity via Schedule K-1VT Vermont sourced capital gain distributed to this entity by a different entity via Schedule K-1VT Other Vermont sourced income distributed to this entity by a different entity via Schedule K-1VT Total Vermont Net Income (Add Lines 8-12) Percentage of income from Line 13 passed through to nonresidents % 15. Total income passed through to nonresidents (Multiply Line 13 by Line 14) Nonresident estimated payment requirement (Multiply Line 15 by 6.8%) Schedule BI-472 Rev. 05/14

18 K-1VT For the taxable period beginning, 20 and ending, 20 Month Month Business Name SHAREHOLDER, PARTNER, OR MEMBER INFORMATION *14K1V1100* * 1 4 K 1 V * This schedule is REQUIRED. Attach to Form BI-471 HEADER INFORMATION - REQUIRED ENTRIES Entity Name (Shareholder, Partner, or Member) OR Individual Last Name (Shareholder, Partner, or Member) First Name MI Social Security Number OR Address Recipient Type (I, C, S, L, P, X, or T) Address, Line 2 (if needed) City State ZIP Code Residency Status VT Resident Nonresident Foreign Country (if not United States) Percentage of Entity s income or loss to this recipient. Calculate percentage to six places to the right of the decimal point. % Place an X in the box left of the line number to indicate a loss amount. Enter all amounts in whole dollars. 1. Vermont Business Income Capital gains allocated to Vermont Other income allocated to Vermont Amount of total Vermont income characterized as Unrelated Business Income (UBI) for Federal purposes (tax-exempt entities only) Total annual nonresident estimated payments allocated to this shareholder Total annual real estate withholding payments allocated to this shareholder Share of total federal bonus depreciation difference (Enter on IN-111, Line 12b or Line 14c) Schedule K-1VT Rev. 06/14

21 Test 4 Vermont Forms Required: BI471, BA472, 3 K1VT s, BA402, BA404, 3 BA406 s Bank Info: Routing Number: Checking Account Number:

24 BI-472 PRINT in BLUE or BLACK INK Business Name NON-COMPOSITE SCHEDULE * * * * Attach to Form BI-471 Place an X in the box left of the line number to indicate a loss amount. Enter all amounts in whole dollars. 1. Ordinary Business Income (Federal Form 1120S, Line 21 or Federal Form 1065, Line 22) Net Real Estate Income (Federal Form 1120S, Schedule K, Line 2 or Federal Form 1065, Schedule K, Line 2) Other Net Rental Income (Federal Form 1120S, Schedule K, Line 3 or Federal Form 1065, Schedule K, Line 3) Guaranteed Payments (Partnership only - Federal Form 1065, Schedule K, Line 4) Section 179 Deduction (Federal Form 1120S, Schedule K, Line 11 or Federal Form 1065, Schedule K, Line 12) Apportionable income (Add Lines 1-4, then subtract Line 5) Apportionment percentage (From BA-402, or 100%) % 8. Business Income apportioned to Vermont (Multiply Line 6 by Line 7) Income directly allocable to Vermont generated by this entity (Capital gain on real estate and physical assets located in Vermont, royalties on property located in Vermont, etc.) Vermont business income distributed to this entity by a different entity via Schedule K-1VT Vermont sourced capital gain distributed to this entity by a different entity via Schedule K-1VT Other Vermont sourced income distributed to this entity by a different entity via Schedule K-1VT Total Vermont Net Income (Add Lines 8-12) Percentage of income from Line 13 passed through to nonresidents % 15. Total income passed through to nonresidents (Multiply Line 13 by Line 14) Nonresident estimated payment requirement (Multiply Line 15 by 6.8%) Schedule BI-472 Rev. 05/14

28 BA-402 APPORTIONMENT & ALLOCATION SCHEDULE Enter all amounts in WHOLE DOLLARS For Unitary filers, complete a separate Schedule BA-402 for each taxable affiliate. * * * * Name of Business or Principal Vermont Corporation (PVC) FOR UNITARY GROUPS ONLY - Name of Affiliate Affiliate s PART 1 1. Nonbusiness Income Directly Allocated Nonbusiness Income and Foreign Dividends Everywhere PART 2 Apportioned Income (Do not enter negative values in Part 2) Section A Sales and Receipts Factor Everywhere continued on back Place an X in the box left of the line number to indicate a loss amount. Vermont 1a.. 1b.. Foreign Dividends 1c.. 1d.. 2. Sales or gross receipts 2.. Vermont 3. Services performed in Vermont Sales delivered or shipped to purchasers in Vermont from outside Vermont Sales delivered or shipped to purchasers in Vermont from within Vermont Sales shipped from Vermont to the U.S. Government Sales shipped from Vermont to purchasers in a state where the entity is not taxable Business interest 9. Royalties 10. Gross rents 8a.. 8b.. 9a.. 9b.. 10a.. 10b Other business income (attach statement) 11a.. 11b TOTAL INCOME, SALES AND GROSS RECEIPTS (Add Lines 2-11) 12a.. 12b.. 12c. Vermont Sales and Receipts factor as percent of everywhere. (Divide Line 12b by Line 12a). Calculate percentage to six places to the right of the decimal point.. 12c.. % Schedule BA-402 Rev. 05/14

29 Entity name Section B Section C 14. Inventories Section D Salaries and Wages Factor Vermont Apportionment Factors * * * * 14a.. 14b Buildings and other depreciable assets (original cost) 15a.. 15b Depletable assets (original cost) 17. Land 16a.. 16b.. 17a.. 17b Other assets (attach schedule) Everywhere 13. TOTAL SALARIES AND WAGES 13a.. 13b.. 13c. Vermont as percent of everywhere (Divide Line 13b by Line 13a). _Calculate percentage to six places to the right of the decimal point c.. % Property Factor (Average value during year) Everywhere 18a.. 18b Rented real and personal property (Multiply annual rent by 8) 19a.. 19b TOTAL PROPERTY (Add Lines 14 through 19) Vermont Vermont 20a.. 20b.. 20c. Vermont as percent of everywhere (Divide Line 20b by Line 20a). Calculate percentage to six places to the right of the decimal point c.. % 21. VERMONT COMBINED FACTORS (Sales and Receipts, Double-weighted) (Add Line 12c twice, and Lines 13c and 20c above). Calculate percentage to six places to the right of the decimal point % 22. VERMONT APPORTIONMENT FACTOR (Divide Line 21 by 4 or as indicated below). Calculate percentage to six places to the right of the decimal point % Express as a decimal to six places. If there are less than three factors with an EVERYWHERE denominator, then divide Line 21 as follows: Sales/Receipts and Salaries and Wages - divide by 3 Sales/Receipts only - divide by 2 Sales/Receipts and Property - divide by 3 Salaries and Wages only - divide by 1 Salaries and Wages and Property - divide by 2 Property only - divide by 1 (Transcribe to Form CO-411, Line 6; or Schedule CO-421, Line 1; or Schedule BI-472, Line 7; or Schedule BI-473, Line 8.) Schedule BA-402 Rev. 05/14

30 BA-404 PLEASE PRINT CLEARLY in BLUE or BLACK INK ONLY Enter all amounts in whole dollars. Business Name TAX CREDITS EARNED, APPLIED, EXPIRED, AND CARRIED FORWARD * * * * (A) Amount Carried Forward from Prior Years 1. Total EATI Credits 2. Charitable Housing 5830c 3. Research and Development 5930ii 4. Machinery and Equipment 5930ll 5. Affordable Housing 5930u Federally Declared Disaster 5930bb(d) NOT AVAILABLE (B) Amount Earned Current Year (C) Amount Applied Current Year (D) Amount Carried Forward to Future Years 7. Recently Deployed Veteran 5930nn 8. Vermont Entrepreneur s Seed Capital Fund 5830b 9. Qualified Sale of Mobile Home Park Wood Products Manufacture 5930y NOT AVAILABLE NOT AVAILABLE NOT AVAILABLE NOT AVAILABLE 11. Historic Rehabilitation 5930cc(a) 12. Facade Improvement 5930cc(b) 13. Code Improvement 5930cc(c) 14. Business Solar Energy 5930z 15. TOTAL FOR ALL CREDITS (Add Lines 1-14)... Schedule BA-404 Rev. 05/14

34 Test 5 Vermont Forms Required: BI471, BI473, 2 K1VT s Bank Info: Routing Number: Checking Account Number:

37 BI-473 PLEASE PRINT CLEARLY in BLUE or BLACK INK ONLY Business Name COMPOSITE SCHEDULE * * * * Attach to Form BI-471 Place an X in the box left of the line number to indicate a loss amount. Enter all amounts in whole dollars. 1. Ordinary Business Income (Federal Form 1120S, Line 21, or Federal Form 1065, Line 22) Net Real Estate Income (Federal Form 1120S, Schedule K, Line 2, or Federal Form 1065, Schedule K, Line 2) Other Net Rental Income (Federal Form 1120S, Schedule K, Line 3, or Federal Form 1065, Schedule K, Line 3) Guaranteed Payments (Partnership only - Federal Form 1065, Schedule K, Line 4) Section 179 Deduction (Federal Form 1120S, Schedule K, Line 11, or Federal Form 1065, Schedule K, Line 12) Deduction for Charitable Contributions (Federal Form 1120S, Schedule K, Line 12a, or Federal Form 1065, Schedule K, Line 13a) Apportionable income (Add Lines 1-4, then subtract Lines 5 & 6) Apportionment percentage (From Schedule BA-402, or 100%) % 9. Business Income apportioned to Vermont (Multiply Line 7 by Line 8) Income directly allocable to Vermont generated by this entity (capital gain on real estate and physical assets located in Vermont, royalties on property located in Vermont, etc.) Vermont business income distributed to this entity by a different entity via Schedule K-1VT Vermont sourced capital gain distributed to this entity by a different entity via Schedule K-1VT Other Vermont sourced income distributed to this entity by different entity via Schedule K-1VT Total Vermont income (Add Lines 9-13) (continued on next page) Schedule BI-473 Rev. 05/14

38 Business Name * * * * Amount from Line Percentage of income from Line 14 passed through to nonresidents % 16. Total nonresident income (Multiply Line 14 by Line 15) NOTE: Entities with tax-exempt owners see instructions for mechanism to exclude exempt income. 17. Vermont net operating loss deduction applied Vermont taxable composite income (Subtract Line 17 from Line 16) Composite Tax (Multiply Line 18 by 7.8%. If negative, enter 0) Tax credits available for composite shareholders/partners/members (Attach BA-404 and BA-406) NOTE: Line 20 Tax Credits may not reduce your tax liability to less than the minimum tax. Review program guidelines to determine if there are other limitations regarding usage of tax credits. 21. Net Vermont Composite Tax due (Subtract Line 20 from Line 19) Schedule BI-473 Rev. 05/14