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Apportionment For Interstate Transportaion E-7 - Indiana

Apportionment For Interstate Transportaion Form. This is a Indiana form and can be used in Corporate Income Department Of Revenue Statewide .
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Schedule E-7 State Form 49192 (R6 / 8-11) For Tax Year Beginning Apportionment for Interstate Transportation and Ending Indiana Department of Revenue Name of Corporation or Organization Federal Identification Number This apportionment schedule is to be used by entities involved in interstate transportation for tax years beginning after Dec. 31, 2006, in lieu of Schedule E for Form IT-20; and Apportionment of Income Schedule for Form IT-20S, IT-20NP, and IT-65. (Entries on lines 3 and 10 must be rounded to two decimal places, i.e. 98.76%.) 1. Revenue miles in Indiana ...................................................................................................................... 2. Revenue miles everywhere ................................................................................................................... 3. Indiana percentage of revenue miles (line 1 ÷ by line 2) ...................................................................................... 4. Transportation revenue everywhere ...................................................................................................... 5. Nontransportation revenue everywhere ................................................................................................ 6. Total revenue everywhere (line 4 + line 5) ............................................................................................ 7. Transportation revenue from Indiana (line 3 x line 4) ............................................................................ 8. Nontransportation revenue in Indiana ................................................................................................... 9. Total Indiana revenue value (line 7 + line 8).......................................................................................... 1 2 3 4 5 6 7 8 9 . 00 00 % 10. INDIANA APPORTIONMENT PERCENTAGE (line 9 ÷ by line 6; insert as percent, not decimal)....... 10 . 00 00 00 00 00 00 % *10511111594* 10511111594 American LegalNet, Inc. www.FormsWorkFlow.com Schedule E-7 - Apportionment Schedule for Interstate Transportation Indiana Department of Revenue Page 1 Income Tax Liability of Entities Involved in Interstate Transportation Schedule E-7 is to be used by entities who are engaged in the transportation of persons and property for hire. All entities involved in public transportation who operate or whose property is operated in or through Indiana are subject to Indiana income tax. This schedule is to be used by airlines, railroads, truck lines, bus lines, interurban lines, pipeline systems, and inland water carriers for purposes of apportioning Indiana adjusted gross income. Adjusted Gross Income The Indiana adjusted gross income tax applies to all entities who derive income from the provision of public transportation services operated in or whose property is operated through Indiana. A transportation company carrying persons or goods in or through Indiana is sufficient to subject them to Indiana adjusted gross income tax. All multistate taxpayers are required under IC 6-3-2-2(b) to use an apportionment formula to determine the amount of business income taxable in Indiana. Instructions for Completing Schedule E-7 for 2011 Line 1. Enter the total revenue miles traveled in Indiana. The total revenue dollars from transportation, both intrastate and interstate, are to be assigned to the states through which the property, freight, or passengers move based on mileage. Pipeline companies may substitute barrel miles, cubic foot miles, or other appropriate measures for revenue miles. In practice, revenue miles usually equal road miles. Line 2. Enter the total revenue miles traveled everywhere. For purposes of apportionment, the term everywhere does not include property, payroll, or sales of a foreign corporation located outside the United States and its territories. Line 3. Divide the revenue miles in Indiana (line 1) by the revenue miles everywhere (line 2) to determine the percentage of transportation activity within Indiana. Line 4. Enter the total amount of income derived from transportation activity everywhere. Line 5. Enter the total income from nontransportation sources, such as income from interest, dividends, sale of capital assets, etc. Service fees (boxing and tagging items and so on), sales income (packing boxes, insurance, and so on), and all other nonmobile-type income must be included. Line 6. Enter the total of line 4 and line 5. Line 7. Multiply line 4 by line 3 to determine the amount of transportation revenue from Indiana. Line 8. Enter the amount of income derived from nontransportation activity in Indiana. Line 9. Enter the total of line 7 and line 8. Line 10. Divide line 9 by line 6 to determine the Indiana apportionment percentage. Carry the resulting average Indiana apportionment percentage to the appropriate line on the annual Indiana income tax return. *24100000000* 24100000000 American LegalNet, Inc. www.FormsWorkFlow.com
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