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Line 2: Enter the net profit or loss as shown on Federal Schedule C. Attach copy of page 1 and 2 of Schedule C, or the Schedule C-EZ.
Line 3: Enter 100% of the short term capital gains and long term capital gains carried over from Federal Form 4797 or Federal Form 6252
(installment sales) to Federal Schedule D representing gain from the sale of property used in the trade or business. Attach a copy of Form 4797,
pages 1 and 2, Form 6252. NOTE: Proceeds from the 2004 Tobacco Transition Payment Program, also called the “Tobacco Buyout”, whether
treated as a capital gain/loss or ordinary incomes, is exempt from payment of the occupational license fee and should not be included.
Line 4: Enter the total rental income or loss per Federal Schedule E. Attach a copy of Federal Schedule E of Form 1040.
Line 5: Enter the net farm profit or loss per Federal Schedule F or Form 4835. Attach a copy of Federal Schedule F or Form 4835.
Line 6: Enter the net gain or loss from the sale of property used in your trade or business per Federal Form 4797. Attach copy of Form 4797, pages 1
and 2.
Line 7: Enter the Ordinary Income or Loss per Federal Form 1065. Attach a copy of Federal Form 1065, Pages 1, 2, 3 and 4, Form 1125A, Schedule
of Other Deductions, and Form 8825 Rental Schedule(s) if applicable, or its equivalent. Persons with real estate sales must attach list of properties
sold.
Line 8: Enter the Taxable Income or Loss after special deductions and net operating loss per Federal Form 1120, 1120A, OR Ordinary Income/Loss
on Federal Form 1120S. Attach copy of Federal Form 1120 or 1120A, Pages 1 and 2, and Schedule of Other Deductions OR 1120S, Pages 1, 2 and
3, Schedule of Other Deductions, and Form 8825 Rental Income/Expense, or equivalent.
Line 9: Enter any deduction taken for occupational taxes by an individual on Schedule C, E, or F, by a partnership on Form 1065, or by a corporation
on Form 1120, 1120A, or 1120S, or for state taxes based on income.
Line 10: Enter the total of the income items listed below which are allocated to the partners or shareholders and are not included as income on
Federal Form 1065 or 1120S. Attach a copy of Schedule K, or its equivalent, and Rental Schedules, if applicable.
• Net income from rental real-estate activities • Net long term capital gain
• Net income from other rental activities • Other portfolio income
• Interest income • Net gain under Sec 1231 (other than due to casualty or theft)
• Dividend income • Guaranteed payments to partners
• Royalty income • Other income items per Schedule K (attach schedule)
• Net short-term capital gain
Line 11: Enter the amount of any net operating loss, if taken as a deduction on Federal Form 1120. This amount is to be added to taxable income.
Line 12: Enter the total of Lines 1 through 11, as applicable.
Line 13: Enter the total of the items listed below that are allocated to the partners or shareholders which are not included as losses or expenses on Federal
Form 1065 or Form 1120S, as they are allowed as deductions for occupational tax purposes. Attach a copy of Schedule K or its equivalent and
Rental Schedules, if applicable.
• Net loss from rental real-estate activities • Net loss under Section 1231 (other than due to casualty or theft)
• Net loss from other rental activities • Charitable Contributions
• Portfolio loss • Expense deductions for recover property (Section 179)
• Net short-term capital loss • Deductions related to portfolio income
• Net long-term capital loss • Other allowable deductions per Schedule K (attach schedule)
Line 14: Enter the total from Line 3 of PART III, NET ALCOHOLIC BEVERAGE SALES, if applicable.
Line 15: This line should include deductible items of income not deducted elsewhere. A schedule and explanation of the adjustments must be
attached.
Line 16: Enter the total of Lines 13 through 15, as applicable.
Line 17: Subtract Line 16 from Line 12. This entry represents your “Adjusted Net Profit.”
PART II: APPORTIONMENT FACTORS:
Part II must be completed by all licensees with sales revenue and/or payroll both within and without the City of Owensboro. Completion of
the schedule allocates to the City of Owensboro the proportionate part of the licensee’s total business activity attributable to the City. If your business
is conducted entirely within the City then Part II should not be completed. Instead enter 100% on Line 4 of Form NP-1 under Column A labeled
“City of Owensboro”, and complete Lines 5 through 15 of that column.
Line 1a: Enter the total gross receipts from the sale, lease, or rental of goods, services, or property received from all the City of Owensboro sources
in Column A and all the Daviess County sources in Column B, except for the receipts related to the net profit or loss from: exempt rental property
receipts, the sale of qualified farm products, earnings made before attaining 16, and receipts from qualifying exempt festivals during the period
covered by the Net Profit License Fee Return. Attach schedule.
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