1                                                                                                                                                                                                                                                       1
 0  0  0  0 20  0  0  0  0    1  1  1  1  1  1  1  1  1  1  2  2  2  2  2  2  2  2  2  2  3  3  3  3  3  3  3  3  3  3  4  4  4  4  4  4  4  4  4  4  5  5  5  5  5  5  5  5  5  5  6  6  6  6  6  6  6  6  6  6  7  7  7  7  7  7  7  7  7  8  8  8  8  8  8  8  2
 1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5
          3                                                                                                                                                                                                                                                       3
          4                            Vermont Department of Taxes                                                                                                                                                                                                4
          5                                                                                                                                                                                                                                                       5
          6                                  Schedule BI-477                                                                                                                                                *234771100*                                           6
          7                                                                                                                                                                                                                                                       7
                    Vermont Income Adjustment Calculation:                                                                                                                                                  *234771100*
          8                                                                                                                                                                                                                                                       8  Page 9
          9                         Pass-Through Nonresident                                                                                                                                                                                                      9
          10                                                                                                                                                                                                         Include with Form BI-471                     10
          11                                                                                                                                                                                                                                                      11
          12                                                                                                                                                                                                                                                      12
          13                                          Entity Name (same as on Form BI-471)                                                                              Fiscal Year Ending (YYYYMMDD)                                                    FEIN     13
          14                                                                                                                                                                                                                                                      14
                   12345678901234567890123456789012(36)       20231231        123456789
          15                                                                                                                                                                                                                                                      15
          16     SECTION 1  PASS-THROUGH PERSONAL INCOME ADJUSTMENT CALCULATION                                                                                                                                                                                   16
          17                                                                                                                                                                                                                                                      17
          18     PART I.                        INCOME DERIVED FROM OWNERSHIP OF PROPERTY                                                                                                                                                                         18
          19                                                                                          Column A                                                                   Column B                                                                         19
                                                                                                   Federal Amount                                                          Amount from Vermont  
          20                                                                                                                                                                     Situs Property                                                                   20
                  
          21      1.      Net Rental Real Estate                                                                                                                                                                                                                  21
          22                         Income (loss)   . . . . . . . . . . . . .1A. 123456789012345       ________________________ .00                           1B.  _________________________123456789012345    .00                                               22
          23      2.      Other Net Rental                                                                                                                                                                                                                        23
          24                         Income (loss)   . . . . . . . . . . . . .2A. 123456789012345       ________________________ .00                           2B.  _________________________123456789012345    .00                                               24
          25                                                                                                                                                                                                                                                      25 FORM  (Place at FIRST page)
          26                          3. Royalties  . . . . . . . . . . . . . . . . .3A. 123456789012345       ________________________ .00                    3B.  _________________________123456789012345    .00                                               26 Form pages 
          27                                                                                                                                                                                                                                                      27
          28     PART II.                       GAINS FROM THE SALE OR EXCHANGE OF PROPERTY                                                                                                                                                                       28
          29                                                                                                                                                                                                                                                      29
                                                                                                      Column A                                                                   Column B
          30                                                                                       Federal Amount                                                          Amount from Vermont                                                                    30
          31                                                                                                                                                                     Situs Property                                                                   31
                                                                                                                                                                                                                                                                     9 - 11
          32      4.      Net Long Term Capital                                                                                                                                                                                                                   32
          33                         Gain (loss)   . . . . . . . . . . . . . . .4A. 123456789012345       ________________________ .00                         4B.  _________________________123456789012345    .00                                               33
          34      5.      Net Short Term Capital                                                                                                                                                                                                                  34
          35                         Gain (loss)   . . . . . . . . . . . . . . .5A. 123456789012345       ________________________ .00                         5B.  _________________________123456789012345    .00                                               35
          36      6.      Guaranteed Payments for                                                                                                                                                                                                                 36
          37                         Capital  . . . . . . . . . . . . . . . . . . .6A. 123456789012345       ________________________ .00                      6B.  _________________________123456789012345    .00                                               37
          38                                                                                                                                                                                                                                                      38
          39                          7. Collectibles (28%) Gain (loss)       7A. 123456789012345       ________________________ .00                           7B.  _________________________123456789012345    .00                                               39
          40      8.      Unrecaptured                                                                                                                                                                                                                            40
          41                         IRC § 1250 Gain  . . . . . . . . . . .8A. 123456789012345       ________________________ .00                              8B.  _________________________123456789012345    .00                                               41
          42                                                                                                                                                                                                                                                      42
          43                          9. Net IRC § 1231 Gain (loss)  . . 9A. 123456789012345       ________________________ .00                                9B.  _________________________123456789012345    .00                                               43
          44                                                                                                                                                                                                                                                      44
          45                                                                                                                                                                                                                                                      45
                 PART III.                      WAGES, SALARIES, COMPENSATION TO PARTNERS
          46                                                                                                                                                                                                                                                      46
          47                                                                                          Column A                                                                   Column B                                                                         47
                                                                                                   Federal Amount                                                    Amount Received for Services
          48                                                                                                                                                               Performed in Vermont                                                                   48
                  
          49                                                                                                                                                                                                                                                      49
          50                           10. Wages and Salaries  . . . . . . . .10A. 123456789012345       ________________________ .00                       10B.  _________________________123456789012345    .00                                                 50
          51                                                                                                                                                                                                                                                      51
          52                           11. Other Compensation  . . . . . . .11A. 123456789012345       ________________________ .00                         11B.  _________________________123456789012345    .00                                                 52
          53       12.    Guaranteed Payments for                                                                                                                                                                                                                 53
          54                         Services  . . . . . . . . . . . . . . . . .12A. 123456789012345       ________________________ .00                     12B.  _________________________123456789012345    .00                                                 54
          55                                                                                                                                                                                                                                                      55
          56                                                                                                                                                                                                                                                      56
          57                                                                                                                                                                                                                                                      57
          58                                                                                                                                                                                                                                                      58
          59                                                                                                                                                                                                                                                      59
          60                                                                                                                                                                                                                                                      60
          61                                                                                                                                                                                                                                                      61
                                                                                                                                                                                                                                    Schedule BI-477
          62                                                                                                                                                                                                                                    Page 1 of 3       62
          63     5454                                                                                                                                                                                                                                       10/23 63
 0  0  0  0 640  0  0  0  0   1  1  1  1  1  1  1  1  1  1  2  2  2  2  2  2  2  2  2  2  3  3  3  3  3  3  3  3  3  3  4  4  4  4  4  4  4  4  4  4  5  5  5  5  5  5  5  5  5  5  6  6  6  6  6  6  6  6  6  6  7  7  7  7  7  7  7  7  7  8  8  8  8  8  8  8  64
 1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5
          65                                                                                                                                                                                                                                                      65
          66                                                                                                                                                                                                                                                      66

          1                                                                                                                                                                                                                                                                                                          1
 0  0  0  0 20  0  0  0  0  1  1  1  1  1  1  1  1  1  1  2  2  2  2  2  2  2  2  2  2  3  3  3  3  3  3  3  3  3  3  4  4  4  4  4  4  4  4  4  4  5  5  5  5  5  5  5  5  5  5  6  6  6  6  6  6  6  6  6  6  7  7  7  7  7  7  7  7  7  8  8  8  8  8  8  8                                                       2
 1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5
          3                                                                                                                                                                                                                                                                                                          3
          4                                   Entity Name (same as on Form BI-471)                                                                                                                                                                                                                                   4
          5                                                                                                                                                                                                                                                                                                          5
                  12345678901234567890123456789012(36) 
          6                                   FEIN                                            Fiscal Year Ending (YYYYMMDD)                                                                               *234771200*                                                                                                6
          7                                                                                                                                                                                                                                                                                                          7
                   123456789              20231231                                                                                                                                                        *234771200*
          8                                                                                                                                                                                                                                                                                                          8 Page 10
          9                                                                                                                                                                                                                                                                                                          9
          10      PART IV.                    BUSINESS INCOME                                                                                                                                                                                                                                                        10
          11       13.                                                            Vermont Sales and Receipts Factor as a percent of Everywhere (Section 2, Line 40)  . . . . . . . . . . . . . . . . . 13. .             __________100.123456______________%                                                         11
          12                                                                                                                                                                                                                                                                                                         12
                                                                                                    Column A                                                                   Column B
          13                                                                                     Federal Amount                                                       Derived within Vermont                                                                                                                         13
          14                                                                                                                                                       (Multiply Column A by Line 13)                                                                                                                    14
          15                                                                                                                                                                                                                                                                                                         15
          16                           14. Ordinary Business Income  . .14A. 123456789012345       ________________________ .00                           14B.  _________________________123456789012345    .00                                                                                                      16
          17                                                                                                                                                                                                                                                                                                         17
          18       15.    Net adjustment to income                                                                                                                                                                                                                                                                   18
                           resulting from Vermont’s  
          19              disallowance of “bonus                                                                                                                                                                                                                                                                     19
          20                         depreciation” (IRC 168(k))  . .15A. 123456789012345       ________________________ .00                               15B.  _________________________123456789012345    .00                                                                                                      20
          21                                                                                                                                                                                                                                                                                                         21
          22       16.    Ordinary Business Income                                                                                                                                                                                                                                                                   22
                          with Bonus Depreciation  
          23              Disallowance                                                                                                                                                                                                                                                                               23
          24                         (ADD Lines 14 and 15)  . . . .16A. 123456789012345       ________________________ .00                                16B.  _________________________123456789012345    .00                                                                                                      24
          25                                                                                                                                                                                                                                                                                                         25
          26                           17. Interest Income  . . . . . . . . . . .17A. 123456789012345       ________________________ .00                  17B.  _________________________123456789012345    .00                                                                                                      26
          27                                                                                                                                                                                                                                                                                                         27
                   18. Dividends
          28                18i.     Ordinary                                                                                                                                                                                                                                                                        28
          29                         Dividends  . . . . . . 18iA. .               123456789012345       ________________________ .00                   18iB.  _________________________123456789012345    .00                                                                                                        29
          30                18ii.    Qualified                                                                                                                                                                                                                                                                       30
          31                         Dividends  . . . . . .18iiA. 123456789012345       ________________________ .00                               18iiB.  _________________________123456789012345    .00                                                                                                           31
          32                18iii.   Dividend                                                                                                                                                                                                                                                                        32
          33                         Equivalents  . . . . 18iiiA. .               123456789012345       ________________________ .00               18iiiB.  _________________________123456789012345    .00                                                                                                          33
          34                                                                                                                                                                                                                                                                                                         34
                   19.    Other Apportionable 
          35              Business Income                                                                                                                                                                                                                                                                            35
          36            (Specify) _______________describes   19A. 123456789012345       ________________________ .00                                      19B.  _________________________123456789012345    .00                                                                                                      36
          37                                                                                                                                                                                                                                                                                                         37
          38                           20. IRC § 179 Deduction  . . . . . .20A. 123456789012345       ________________________ .00                        20B.  _________________________123456789012345    .00                                                                                                      38
          39                                                                                                                                                                                                                                                                                                         39
          40                                                                12345678901234521. ADD Lines 1A through 6A, 9A through 12A, 16A through 19A, then SUBTRACT Line 20A  . . . . . . 21. .                       ________________________ .00                                                                40
          41                                                                                                                                                                                                                                                                                                         41
          42     PART V.                      INCOME ADJUSTMENT                                                                                                                                                                                                                                                      42
          43       22.    Interest Income not derived from Vermont activity                                                                                                                                                                                                                                          43
          44                                                              123456789012345(SUBTRACT Line 17A from federal Form 1065, Sch. K, Line 5)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22. .     ________________________ .00                                                                44
          45       23.    Dividends not derived from Vermont activity (SUBTRACT the SUM of Lines 18iA, 18iiA, and                                                                                                                                                                                                    45
          46                                                              12345678901234518iiiA from the SUM of federal Form 1065, Sch. K, Lines 6a, 6b, and 6c)  . . . . . . . . . . . . . . . . . . . . . . 23. .      ________________________ .00                                                                46
          47                                                                                                                                                                                                                                                                                                         47
          48                         24. Other Income (loss) (Specify) ______________________________________________ 123456789012345678901234567           . . . . . . . . . . . . . 24. .                              123456789012345________________________ .00                                                 48
          49                                                                                                                                                                                                                                                                                                         49
          50                                                                12345678901234525. ADD Lines 21 through 24   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25. . ________________________ .00                              50
          51                                                                                                                                                                                                                                                                                                         51
          52       26.                                                         123456789012345Other Adjustments (Attach detailed explanation) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 26. .  . ________________________.  .  .  .  .  .  .  .  .  .  .  .  . .00 52
          53                                                                                                                                                                                                                                                                                                         53
          54       27.                                                         123456789012345TAXABLE INCOME(ADD Lines 25 and 26)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27. . ________________________ .00                                                    54
          55       28.    VERMONT INCOME (ADD Lines 1B through 6B, 9B through 12B, 16B through 19B, then                                                                                                                                                                                                             55
          56                                                              123456789012345SUBTRACT Line 20B)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28. . ________________________ .00                                      56
          57     29.      INCOME ADJUSTMENT %  (DIVIDE Line 28 by Line 27.  MULTIPLY the result by 100 and                                                                                                                                                                                                           57
          58                                                                 carry the result out to the fourth decimal place.) Also enter on Schedule BI-473, Line 2 .  . . . . . . . . . . 29. .                       __________100.123456______________%                                                         58
          59                                                                                                                                                                                                                                                                                                         59
          60                                                                                                                                                                                                                                                                                                         60
          61                                                                                                                                                                                                                                                                                                         61
                                                                                                                                                                                                                                  Schedule BI-477
          62                                                                                                                                                                                                                                  Page 2 of 3                                                            62
          63     5454                                                                                                                                                                                                                                     10/23                                                      63
 0  0  0  0 640  0  0  0  0 1  1  1  1  1  1  1  1  1  1  2  2  2  2  2  2  2  2  2  2  3  3  3  3  3  3  3  3  3  3  4  4  4  4  4  4  4  4  4  4  5  5  5  5  5  5  5  5  5  5  6  6  6  6  6  6  6  6  6  6  7  7  7  7  7  7  7  7  7  8  8  8  8  8  8  8                                                       64
 1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5
          65                                                                                                                                                                                                                                                                                                         65
          66                                                                                                                                                                                                                                                                                                         66

          1                                                                                                                                                                                                                                                       1
 0  0  0  0 20  0  0  0  0  1  1  1  1  1  1  1  1  1  1  2  2  2  2  2  2  2  2  2  2  3  3  3  3  3  3  3  3  3  3  4  4  4  4  4  4  4  4  4  4  5  5  5  5  5  5  5  5  5  5  6  6  6  6  6  6  6  6  6  6  7  7  7  7  7  7  7  7  7  8  8  8  8  8  8  8    2
 1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5
          3                                                                                                                                                                                                                                                       3
          4                                   Entity Name (same as on Form BI-471)                                                                                                                                                                                4
          5                                                                                                                                                                                                                                                       5
                  12345678901234567890123456789012(36) 
          6                                    FEIN                                                         Fiscal Year Ending (YYYYMMDD)                                                                 *234771300*                                             6
          7                                                                                                                                                                                                                                                       7
                   123456789              20231231                                                                                                                                                        *234771300*
          8                                                                                                                                                                                                                                                       8  Page 11
          9                                                                                                                                                                                                                                                       9
          10                                                                                                                                                                                                                                                      10
          11     SECTION 2  VERMONT APPORTIONMENT                                                                                                                                                                                                                 11
          12     PART VI.                      VERMONT SALES AND RECEIPTS FACTOR                                                                                                                                                                                  12
          13                                                                                                                                                                                                                                                      13
                                                                                                            Column A                                                           Column B
          14                                                                                                Everywhere                                                            Vermont                                                                         14
          15                                                                                                                                                                                                                                                      15
          16       30.                    123456789012345        Sales or gross receipts   . . . . .30A.  ________________________ .00                                                                                                                            16
          17                                                                                                                                                                                                                                                      17
          18       31.                                           123456789012345    Sales of services  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31B.  _________________________.00                              18
          19       32.    Sales of tangible personal property delivered or shipped to                                                                                                                                                                             19
          20                                                123456789012345    purchasers in Vermont from outside Vermont  . . . . . . . . . . . . . . . . . . . . . . .32B.  _________________________.00                                                        20
          21       33.    Sales of tangible personal property delivered or shipped to                                                                                                                                                                             21
          22                                                123456789012345    purchasers in Vermont from within Vermont   . . . . . . . . . . . . . . . . . . . . . . .33B.  _________________________.00                                                        22
          23                                                                                                                                                                                                                                                      23
          24       34.                                           123456789012345    Special Industries: Enter non-dollar sales factor figures here  . . . . . . . . . . . 34B. ._________________________.00                                                      24
          25       35.    Apportionable interest and                                                                                                                                                                                                              25 FORM  (Place at LAST page)
          26                         dividends  . . . . . . . . . . . . . . . .35A. 123456789012345       ________________________ .00                    35B.  _________________________123456789012345    .00                                                   26 Form pages 
          27                                                                                                                                                                                                                                                      27
          28                           36. Royalties  . . . . . . . . . . . . . . . .36A. 123456789012345       ________________________ .00              36B.  _________________________123456789012345    .00                                                   28
          29                                                                                                                                                                                                                                                      29
          30                           37. Gross rents  . . . . . . . . . . . . . . 37A. 123456789012345       ________________________ .00               37B.  _________________________123456789012345    .00                                                   30
          31                                                                                                                                                                                                                                                      31
                   38.    Other apportionable business                                                                                                                                                                                                               9 - 11
          32              income (attach detailed                                                                                                                                                                                                                 32
          33                         supporting statement)  . . . . . .38A. 123456789012345       ________________________ .00                            38B.  _________________________123456789012345    .00                                                   33
          34       39.    Total GROSS RECEIPTS                                                                                                                                                                                                                    34
          35                         (ADD Lines 30 through 38) 39A.  ________________________123456789012345       .00                                    39B.  _________________________123456789012345    .00                                                   35
          36       40.    Vermont Gross Receipt factor (DIVIDE Line 39B by 39A.  MULTIPLY the result by 100 and                                                                                                                                                   36
          37                                                                 carry the result out to the sixth decimal place.)  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40. . __________100.123456______________% 37
          38                                                                                                                                                                                                                                                      38
          39     PART VII.                     PROPERTY FACTOR (Average value during year)                                                                                                                                                                        39
          40                                                                                                                                                                                                                                                      40
                                                                                                            Column A                                                           Column B
          41                                                                                                Everywhere                                                            Vermont                                                                         41
          42                                                                                                                                                                                                                                                      42
          43                           41. Inventories   . . . . . . . . . . . . . .41A. 123456789012345       ________________________ .00               41B.  _________________________123456789012345    .00                                                   43
          44       42.    Buildings and other depreciable                                                                                                                                                                                                         44
          45                         assets (original cost)  . . . . . . .42A. 123456789012345       ________________________ .00                         42B.  _________________________123456789012345    .00                                                   45
          46       43.    Depletable assets                                                                                                                                                                                                                       46
          47                         (original cost)  . . . . . . . . . . . .43A. 123456789012345       ________________________ .00                      43B.  _________________________123456789012345    .00                                                   47
          48                                                                                                                                                                                                                                                      48
          49                           44. Land  .  .  .  .  .  .  .  .  .  .  .  .  . 44A. .  .  . 123456789012345       ________________________.  .  . .00 44B.  _________________________123456789012345    .00                                               49
          50       45.    Other assets                                                                                                                                                                                                                            50
          51                         (Attach schedule)  . . . . . . . . .45A. 123456789012345       ________________________ .00                          45B.  _________________________123456789012345    .00                                                   51
          52       46.    Rented real and personal property                                                                                                                                                                                                       52
          53                         (Multiply annual rent by 8)  . .46A. 123456789012345       ________________________ .00                              46B.  _________________________123456789012345    .00                                                   53
          54       47.    Total PROPERTY                                                                                                                                                                                                                          54
          55                         (ADD Lines 41 through 46) 47A.  ________________________123456789012345       .00                                    47B.  _________________________123456789012345    .00                                                   55
          56                                                                                                                                                                                                                                                      56
          57                                                                                                                                                                                                                                                      57
          58                                                                                                                                                                                                                                                      58
          59                                                                                                                                                                                                                                                      59
          60                                                                                                                                                                                                                                                      60
          61                                                                                                                                                                                                                                                      61
                                                                                                                                                                                                                                  Schedule BI-477
          62                                                                                                                                                                                                                                  Page 3 of 3         62
          63     5454                                                                                                                                                                                                                                     10/23   63
 0  0  0  0 640  0  0  0  0 1  1  1  1  1  1  1  1  1  1  2  2  2  2  2  2  2  2  2  2  3  3  3  3  3  3  3  3  3  3  4  4  4  4  4  4  4  4  4  4  5  5  5  5  5  5  5  5  5  5  6  6  6  6  6  6  6  6  6  6  7  7  7  7  7  7  7  7  7  8  8  8  8  8  8  8    64
 1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5  6  7  8  9  0  1  2  3  4  5
          65                                                                                                                                                                                                                                                      65
          66                                                                                                                                                                                                                                                      66