The Alabama 65 form is a critical document used by partnerships and limited liability companies to report their income to the state’s Department of Revenue. This form must also be submitted by syndicates, pools, and joint ventures, ensuring that various business entities comply with Alabama tax regulations. Completing the Alabama 65 form accurately is essential for proper tax assessment, so consider filling it out by clicking the button below.
The Alabama 65 form is a crucial document for partnerships and limited liability companies (LLCs) operating in Alabama. This form serves as the Return of Income and must be filed by various entities, including syndicates, pools, and joint ventures. It is essential for reporting total federal income, deductions, and assets as outlined in the federal Form 1065. Taxpayers must indicate whether the return is initial, amended, or final, and they are required to provide their federal business code and employer identification number. The form also captures details about the nature of the business, the number of members, and any multi-state operations. Additionally, it includes schedules for computing separately stated and non-separately stated income, along with adjustments and allocations specific to Alabama. Accurate completion of the Alabama 65 form is vital, as it must be accompanied by a copy of the federal Form 1065 to avoid being deemed incomplete. Filing deadlines are strict, with returns due by April 15 of the following year for calendar year filers, and the form includes a declaration section to ensure the accuracy of the information provided.
How Much Is Child Support for 1 Kid in Alabama - Income sources include employment wages, self-employment earnings, and other income types.
How to Get a Bonded Title in Alabama - Do not hesitate to reach out to the Alabama Department of Revenue for clarification.
The Alabama 65 form is an essential document for partnerships and limited liability companies operating in Alabama, as it outlines the return of income for these entities. In addition to this form, several other documents are often required to ensure compliance with state tax regulations. Below is a list of additional forms and documents that may be needed alongside the Alabama 65 form, along with brief descriptions of each.
Completing the Alabama 65 form and its accompanying documents accurately is vital for compliance with state tax laws. Each form serves a specific purpose and provides essential information that the Alabama Department of Revenue requires to assess tax liabilities appropriately. Ensuring that all necessary documents are submitted can help facilitate a smooth filing process and avoid potential issues with tax compliance.
Completing the Alabama 65 form is an important task that requires careful attention to detail. After filling out the form, it will need to be submitted to the Alabama Department of Revenue by the appropriate deadline. Below are the steps to guide you through the process of filling out the Alabama 65 form.
Misconception 1: The Alabama 65 form is only for partnerships.
This form is applicable not only to partnerships but also to limited liability companies (LLCs), syndicates, pools, joint ventures, and other similar entities. Any entity that needs to report income in Alabama should consider using this form.
Misconception 2: You can submit the Alabama 65 form without any attachments.
It's essential to attach a copy of the federal Form 1065 when submitting the Alabama 65 form. Without this attachment, your submission will be considered incomplete.
Misconception 3: The Alabama 65 form is only for businesses operating in Alabama.
While the form is used to report income to Alabama, it can also be filed by entities that operate in multiple states. The form includes sections for reporting income and deductions from other states as well.
Misconception 4: Only the general partner needs to sign the Alabama 65 form.
In fact, the form must be signed by a general partner, but it can also be signed by a designated representative of the entity. This allows for flexibility in who can submit the form.
Misconception 5: The deadline for filing the Alabama 65 form is the same for all entities.
The filing deadline varies depending on whether the entity operates on a calendar year or a fiscal year basis. Calendar year entities must file by April 15, while fiscal year entities have a different deadline based on their year-end date.
Misconception 6: The Alabama 65 form does not require any additional schedules.
Additional schedules may be necessary depending on the specifics of the entity's income and deductions. For instance, Schedule B and Schedule C are often required for a complete submission.
Misconception 7: You cannot amend the Alabama 65 form once it has been filed.
Amended returns can be filed using the same form. If you discover an error or need to make changes after submission, you can file an amended return to correct the information.
Misconception 8: The Alabama 65 form is not subject to audit.
Like all tax forms, the Alabama 65 is subject to review and audit by the Alabama Department of Revenue. Maintaining accurate records is crucial for compliance and potential audits.
Misconception 9: You do not need to provide detailed descriptions of your operations.
Providing a brief description of your operations is a required part of the form. This helps the Alabama Department of Revenue understand the nature of your business and its activities.
FORM
*10000165*
ALABAMA
65
DEPARTMENT OF REVENUE
• CY
• FY 2010
•SY
Partnership/Limited Liability Company Return of Income
ALSO TO BE FILED BY SYNDICATES, POOLS, JOINT VENTURES, ETC.
Important!
For Calendar Year 2010 or Fiscal Year
DEPARTMENT USE ONLY
beginning • _________________________________, 2010, and ending • ____________________________, _________
FN
You Must Check
Applicable Box:
FEDERAL BUSINESS CODE NUMBER
FEDERAL EMPLOYER IDENTIFICATION NUMBER
•
Amended Return
Name of Company
Total Federal income as shown on
Initial Return
Form 1065, line 8.
Final Return
Number and Street
Total Federal deductions as shown on
General Partnership
Form 1065, line 21.
City or Town
State
9 Digit ZIP Code
Limited Partnership
Total assets as shown on Form 1065.
LLC/LLP
Check if the company operates
If above name or address is different from the one
in more than one state
shown on your 2009 return, check here
.
. . •
. .
. . . .
Qualified Investment
Check if the company qualifies for the Alabama
Number of Members
CN
Partnership
Enterprise Zone Credit or the Capital Credit .
. . . . .
. . . . •
During The Tax Year
State in Which Company Was Formed
Nature of Business
Date Qualified in Alabama
Number of Nonresident Members
Included in Composite Filing . . .
UNLESS A COPY OF FEDERAL FORM 1065 IS ATTACHED THIS RETURN IS INCOMPLETE
SCHEDULE A
COMPUTATION OF SEPARATELY STATED AND NONSEPARATELY STATED INCOME
1
Federal Ordinary Income or (Loss) from trade or business activities
. . . . . . . . . . . . . . . . . . .
2
Net short-term and long-term capital gains – income or (loss)
3
.Salaries and wages reduced for federal employment credits
•(
)
4
. . . . . . . .Net income or (loss) from rental real estate activities
Reconciliation
5
. . . . . . . . . . . .Net income or (loss) from other rental activities
6
Net gain or (loss) under I.R.C. §1231 (other than casualty losses)
to Alabama
7
Adjustments due to the Federal Economic Stimulus Act of 2008
Basis (see
(attach schedule)
instructions)
. . . . . . . . . .
8
Other reconciliation items (attach schedule)
9
.Net reconciling items (add lines 2 through 8)
10
Net Alabama nonseparately stated income or (loss) (add line 1 and line 9)
11
Contributions
12
. . . . . . . . . . . . . . . . . . . . .Oil and gas depletion
13
. . . . . .I.R.C. §179 expense deduction (complete Schedule K)
Separately
14
. . . . . . . . . . . . . . . . . . . . . . . . . .Casualty losses
15
Portfolio income or (loss) less expenses (complete Schedule K)
Stated Items
16
Other separately stated items (attach schedule)
(Related to
Business
17
. . . . . . . .Net separately stated items (add line 11 through 16)
18
Total separately stated and nonseparately stated items (add line 10 and line 17)
Income)
19
Alabama apportionment factor from Schedule D, line 4
%
Do not multiply line 18 by line 19
20
Nonseparately Stated Income Allocated and Apportioned to Alabama from Schedule D, line 7
•I authorize a representative of the Department of Revenue to discuss my return and attachments with my preparer.
Please
Sign
Here
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
(
Signature of general partner
Date
Daytime Telephone No.
Social Security No.
Preparer’s
Signature
Paid
Firm’s name (or yours, •
if self-employed)
Use Only
and address
Check if
Preparer’s Social Security No.
self-employed
Telephone No.
E.I. No.
()
ZIP Code
Email Address
Mail to: Alabama Department of Revenue, Individual and Corporate Tax Division, P.O. Box 327441, Montgomery, AL 36132-7441
ADOR
on or before April 15, 2011. (Fiscal Year Returns must be filed on or before the 15th day of the fourth month following the close of the fiscal year.)
*10000265*
Form 65 — 2010
Page 2
SCHEDULE B
ALLOCATION OF NONBUSINESS INCOME, LOSS, AND EXPENSE
Identify by account name and amount all items of nonbusiness income, loss, and expense removed from apportionable income and those items which are directly allocable to Alabama. Adjustment(s) must also be made for any proration of expens- es under Alabama Income Tax Rule 810-27-1-4-.01, which states, “Any allowable
deduction that is applicable to both business and nonbusiness income of the tax- payer shall be prorated to each class of income in determining income subject to tax as provided…” (See instructions).
DIRECTLY ALLOCABLE ITEMS
ALLOCABLE GROSS INCOME / LOSS
RELATED EXPENSE
NET OF RELATED EXPENSE
Column A
Column B
Column C
Column D
Column E
Column F
Everywhere
Alabama
(Col. A less Col. C)
(Col. B less Col. D)
Nonseparately stated items
1a
1b
1c
1d Total (add lines 1a, 1b, and 1c)
Separately stated items
1e
1f
1g
1h Total (add lines 1e, 1f, and 1g)
SCHEDULE C
APPORTIONMENT FACTOR SCHEDULE – Do not complete if the entity operates exclusively in Alabama.
TANGIBLE PROPERTY AT COST FOR
EVERYWHERE
PRODUCTION OF BUSINESS INCOME
BEGINNING OF YEAR
END OF YEAR
Inventories
Land
Furniture and fixtures
Machinery and equipment
Buildings and leasehold improvements
IDB/IRB property (at cost)
Government property (at FMV)
Less Construction in progress (if included)
Totals
Average owned property (BOY + EOY ÷ 2)
Annual rental expense
x8 =
. . . . . . . . . . . . . . . . . . . . . . . . . . . . .Total average property (add line 11 and line 12)
13a
. . . . . .
. . . . . . . . . . . .
13b
. . . . . . . . . . . . . . . . . . . . . . . . . . . . .Alabama property factor — 13a ÷ 13b = line 14
. . . . . . . . . . .
. . . . . . .
SALARIES, WAGES, COMMISSIONS AND OTHER COMPENSATION
15a
15b
15c
RELATED TO THE PRODUCTION OF BUSINESS INCOME
Alabama payroll factor — 15a ÷ 15b = 15c
SALES
Destination sales
. . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Origin sales
. .Total gross receipts from sales
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Dividends
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Interest
21
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Rents
22
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Royalties
23
. . . . . . .Gross proceeds from capital and ordinary gains
24Other •____________________________________ (Federal 1065, line •_____ ) •
25
Alabama sales factor — 25a ÷ 25b = line 25c
25a •
25b
25c
26
Sum of lines 14, 15c, and 25c ÷ 3 = ALABAMA APPORTIONMENT FACTOR (Enter here and on line 4, Schedule D, page 3)
*10000365*
Page 3
SCHEDULE D
APPORTIONMENT AND ALLOCATION OF INCOME TO ALABAMA
1 Net Alabama nonseparately stated income or (loss) from line 10, Schedule A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2 Nonseparately stated (income) or loss treated as nonbusiness income (line 1d, Column E, Schedule B)
– please enter income as a negative amount and losses as a positive amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3 Apportionable income or (loss) – add line 1 and line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 Apportionment factor from line 26, Schedule C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5 Income or (loss) apportioned to Alabama (multiply amount on line 3 by the percentage on line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 Nonseparately stated income or (loss) allocated to Alabama as nonbusiness income (Column F, line 1d, Schedule B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7 Nonseparately Stated Income Allocated and Apportioned to Alabama (add lines 5 and 6). Enter this amount on line 20,
Schedule A and line 1, Schedule K – Alabama Amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1•
6•
7•
SCHEDULE E
OTHER INFORMATION
Indicate method of accounting
(a) •
cash
(b) •
accrual
(c) •
other
Check if the company is currently being audited by the IRS
What years are involved? __________________________________
Check if the IRS has completed any audits
4Enter this company’s Alabama Withholding Tax Account Number •
5 Briefly describe your operations •
6 Indicate if company has been(a) • dissolved(b) • sold(c) • incorporated If company has been dissolved, sold, or incorporated, complete the following:
Nature of change •
Name and address of new company, corporation, or owner(s) •
7Location of the partnership records •
8 Check if an Alabama business privilege tax return was filed for this entity •
If the privilege tax return was filed using a different FEIN, please provide the name and FEIN used to file the return.
FEIN: •
NAME: •
9Taxpayer’s email address:
SCHEDULE K
DISTRIBUTIVE SHARE ITEMS
Federal Amount
Apportionment
Alabama Amount
Enter on Alabama
Factor
Schedule K-1
Alabama Nonseparately Stated Income (Schedule D, line 7)
Part III, Line M
Separately Stated Items:
. . . . . .Contributions
Part III, Line S
Oil and gas depletion
Part III, Line Z
I.R.C. §179 expense deduction
a. Amount allowed on 1065
. . . . . . . . . . . . . . . . . . . . . .b. Adjustments required (see instructions)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .c. Amount to be apportioned
Part III, Line O
. . .Casualty losses
Part III, Line W
. . .Portfolio income
Part III, Line Q
Interest expense related to portfolio income
Part III, Line P
Other expenses related to portfolio income (attach schedule)
Part III, Line R
Other separately stated business items (attach explanation)
Part III, Line T
Small business health insurance premiums (attach explanation)
Part III, Line Y
. . . . . . . . . . .Separately stated nonbusiness items (attach schedule)
Part III, Line AA
. . . . . . . .Composite payment made on behalf of owner/shareholder
Part III, Line U
. . . . . . . . . . . . . . . . . . . . . . . . . . . .U.S. taxes paid (attach explanation)
Part III, Line V
Alabama exempt income (attach explanation)
Part III, Line AB
Transactions with Owners:
100%
Property distributions to owners
Part III, Line X
Guaranteed payments to partners
Part III, Line N
CHECK LIST
HAVE THE FOLLOWING FORMS BEEN ATTACHED TO THE FORM 65?
ALABAMA SCHEDULE K-1 (one for each owner)
ALABAMA SCHEDULE NRA (if applicable)
FEDERAL FORM 1065 (entire form as filed with the IRS)
*10000465*
Page 4
Required Entity Information For Partnerships and LLCs
1. List general partners.
NAME OF GENERAL PARTNER
SSN / FEIN
ADDRESS
a.•
b.•
c.•
d.•
e.•
PERCENT OF OWNERSHIP
2. List other states in which the Partnership/LLC operates, if applicable.
3. At any time during the tax year, did the Partnership/LLC transact business in a foreign country?
Yes
No
If yes, complete the information below:
NAME OF COUNTRY
NATURE OF BUSINESS
TAXABLE INCOME
REPORTED TO COUNTRY
a. •
b. •
c. •
d. •
e. •
4. At any time during the tax year, did the Partnership/LLC invest in another Pass-Through entity?
NAME OF ENTITY
FEIN
PERCENT OF
OWNERSHIP
5.Person to contact for information regarding this return:
Name:
Telephone Number: (
Email: