Form RI-1120S Schedule S "Excess Net Passive Income Tax Calculation" - Rhode Island

What Is Form RI-1120S Schedule S?

This is a legal form that was released by the Rhode Island Department of Revenue - a government authority operating within Rhode Island.The document is a supplement to Form RI-1120S, Subchapter S Business Corporation Tax Return. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • The latest edition provided by the Rhode Island Department of Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form RI-1120S Schedule S by clicking the link below or browse more documents and templates provided by the Rhode Island Department of Revenue.

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Download Form RI-1120S Schedule S "Excess Net Passive Income Tax Calculation" - Rhode Island

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State of Rhode Island Division of Taxation
2020 Schedule S for RI-1120S
20110499990101
Excess Net Passive Income Tax Calculation
Name
Federal employer identification number
TO BE FILED WITH FORM RI-1120S
TO BE COMPLETED ONLY BY SUBCHAPTER S CORPORATIONS TAXABLE FOR FEDERAL PURPOSES AND REQUIRED TO COMPLETE
LINE 22a AND/OR 22b OF FEDERAL FORM 1120S
1
Excess net passive income from line 10 of Worksheet for line 22a of Federal 1120S ................................................
1
2
Taxable income from Federal Form 1120S, Schedule D, line 20.................................................................................
2
3
Taxable income. Add lines 1 and 2 .............................................................................................................................
3
_ . ______
4
Apportionment ratio (six (6) decimal places) from Form RI-1120S, Schedule I, line 5 ................................................
4
Rhode Island taxable income. Multiply line 3 by line 4 ...............................................................................................
5
6
TAX - 7%. Multiply line 5 by 7% (0.07) and enter here ...............................................................................................
6
400 00
7
Minimum tax from Form RI-1120S...............................................................................................................................
7
8
TAX. Line 6 or line 7, whichever is larger. Enter here and on Form RI-1120S, page 1, line 7a.................................
8
State of Rhode Island Division of Taxation
2020 Schedule S for RI-1120S
20110499990101
Excess Net Passive Income Tax Calculation
Name
Federal employer identification number
TO BE FILED WITH FORM RI-1120S
TO BE COMPLETED ONLY BY SUBCHAPTER S CORPORATIONS TAXABLE FOR FEDERAL PURPOSES AND REQUIRED TO COMPLETE
LINE 22a AND/OR 22b OF FEDERAL FORM 1120S
1
Excess net passive income from line 10 of Worksheet for line 22a of Federal 1120S ................................................
1
2
Taxable income from Federal Form 1120S, Schedule D, line 20.................................................................................
2
3
Taxable income. Add lines 1 and 2 .............................................................................................................................
3
_ . ______
4
Apportionment ratio (six (6) decimal places) from Form RI-1120S, Schedule I, line 5 ................................................
4
Rhode Island taxable income. Multiply line 3 by line 4 ...............................................................................................
5
6
TAX - 7%. Multiply line 5 by 7% (0.07) and enter here ...............................................................................................
6
400 00
7
Minimum tax from Form RI-1120S...............................................................................................................................
7
8
TAX. Line 6 or line 7, whichever is larger. Enter here and on Form RI-1120S, page 1, line 7a.................................
8