CITY OF PORT HURON INCOME TAX - FIDUCIARY RETURN 
 PH-1041                                                                                                                                               2020 
                                   For calendar year 2020 or tax year beginning:                           and ending: 
 Name of trust or estate                                                                                   Federal employer identification number FEIN 

 Name and title of fiduciary                                                                               
                                                                                                           Date entity created:                                               
 Number, street, and room or suite number                                                                  Check if: 

 City or town, state, and ZIP code                                                                         Initial return 
                                                                                                           Final return 
                                                                                                           Amended return 

                                                                                                           Change in fiduciary's name or address 

 INCOME AND TAX COMPUTATION: 
 
 1   Total business income (loss) for the period - from federal return 
                                                                                                                                   
 2   Add city of Port Huron income tax deducted from income on the federal return 
                                                                                                                                   
 3   Total income subject to allocation. Add lines 1 and 2, enter the result on this line 
                                                                                                                                   
 4   Allocation percentage - from schedule A on page 2. If all business was conducted in Port Huron, enter 100% 
                                                                                                                                   
 5   Allocated income. Multiply line 3 by line 4. Enter the result on this line 
                                                                                                                                   
 6   Net income (loss) from rental property located in the City of Port Huron - from federal return 
                                                                                                                                   
 7   Capital gain (loss) from property located in the City of Port Huron - from federal return 
                                                                                                                                   
 8   Other City of Port Huron income 
                                                                                                                                   
 9   Total City of Port Huron income. Add lines 5, 6, 7 and 8. Enter the result on this line 
                                                                                                                                   
 10  Less the amount of Port Huron income on line 9 that is applicable to beneficiaries who are City of Port Huron residents 
     based on the following computation: 
     
     Resident beneficiaries' share 
     of distributable net income                          The amount on line 9                          The amount to 
                                                        X                                             = enter on line 10 
     Total distributable net income 

 11  Amount subject to tax. Subtract line 10 from line 9, enter the result on this line 
                                                                                                                                   
 12  Tax.  Multiply line 11 by 1/2 of 1% (.005).                                                        This is the BALANCE DUE 
 
 I declare, under penalty of perjury, that the information in this return and attachments is true and   I declare under penalty of perjury, that this return is based on all 
 complete to the best of my knowledge.                                                                  information of which I have knowledge. 
                                                                                                       
                                                                                                        Preparer's name, address and ID number 
 Signature of fiduciary or officer presenting fiduciary                         Date                   
  
 X                                                                                                     
                                                                                                       
 Make checks payable to: City of Port Huron             Mail to: Income Tax Division                    Preparer's signature                           Date 
                                                                                                       
                                                          100 McMorran Blvd. 
                                                          Port Huron, MI 48060                          X 
  

 Form PH-1041                                                                                                                                                                    Page 2 
 
 SCHEDULE A - BUSINESS ALLOCATION FORMULA  
                                                                                                                   I                  II                                    III 
                                                                                                                   Located everywhere Located in the city                   Percentage in the city 
                                                                                                                                                                            II ) I 
 1a Average net book value of real and tangible personal property           . . . . . 
 1b    Gross rentals of real property multiplied by 8 . . . . . . . . . . . 
 1c Total - line 1a plus line 1b .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .    .                                                                                 % 
 2 Total wages salaries, commissions and other compensation paid to all employees                                                                                                                  % 
 3 Gross receipts from sales made or services rendered .    .    .    .    .    .    .    .                                                                                                        % 
 4 Total of all percentages - add the percentages computed on lines 1c, 2 and 3             . .                    .    .    .    .    .    .    .    .    .    .    .    .                        % 
 5 Average percentage - divide line 4 by three* - Enter here and on page 1, line 4 . .                             .    .    .    .    .    .    .    .    .    .    .    .                        % 
 *In determining the average percentage, if a factor does not exist, you must divide line 4 by the number of factors used 
 If you are authorized to use a special formula, give the date of your approval letter                               and attach a schedule detailing the calculation 

 SCHEDULE B - RESIDENT BENEFICIARIES 
 
 NAME AND ADDRESS OF EACH RESIDENT BENEFICIARY                                                                                        SOCIAL SECURITY NUMBER 

 A 

 B 

 C 

 D 

 E 

 SCHEDULE C - EACH RESIDENT BENEFICIARIES' SHARE OF EXCLUSIONS 
 
   1. Exclusion for Interest from                      2. Exclusion for the portion of capital                                        3. Other income exclusions 
   governmental obligations                            gains occuring before January 1, 1969                         Explain and support the amount 
 A                                                                                                                  
 B                                                                                                                  
 C                                                                                                                  
 D                                                                                                                  
 E                                                                                                                  

              The fiducuiary must report the amounts in columns 1, 2 and 3 to each resident beneficiary 
 

 INSTRUCTIONS FOR FORM PH-1041 
 CITY OF PORT HURON FIDUCIARY RETURN 
 
 General                                                              Lines 10 and 11 - Beneficiaries who are City of Port Huron 
 Every trust and estate that has gross income from sources listed     residents must report their portion of distributable net income on 
 under "Taxable Income" below, must file a City of Port Huron         their individual return. Resident beneficiaries should receive this 
 Fiduciary Income Tax Return (Form PH-1041). You must file a          information from the Fiduciary. Use line 10 to find the resident's 
 return whether or not the trust or estate had a net profit. Under    share of total taxable income. Subtract this amount from total 
 the ordinance, estates and trusts are treated as a nonresident       income. Enter the result on line 11. This is the income that is 
 individual.                                                          taxable to the trust or estate. 
 The return is due by the last day of the fourth month,               Schedule A - Business Allocation Formula 
 following the end of the trust’s or estate’s taxable year.           Use the Business Allocation Formula when a trust or estate 
 Calendar year 2020 returns are due by April 30, 2021. We             conducts a business activity both inside and outside the City of 
                                                                      Port Huron. Use the formula to find what percentage of 
 do not require trusts or estates to file a Declaration of Estimated  business activity was conducted in the city. We tax trusts and 
 Income Tax.                                                          estates on the percentage of income that relates to business 
 You must pay any balance due when you file the return. Make          activity in the city. 
 all funds payable to: City of Port Huron. Mail both the return       Line 1a. Show in column I the average net book value of all 
 and your payment to: Income Tax Division, 100 McMorran               real and tangible personal property owned by the business 
 Boulevard, Port Huron, Michigan 48060.                               no matter where it is located. In column II show the net 
                                                                      book value of all real and tangible personal property owned 
 Taxable Income                                                       by the business in the City of Port Huron. You may find the 
 “Income from trusts and estates” means "income" as defined in        average net book value by adding the net book value at the 
 Sec. 643(b) of the federal Internal Revenue Code. It includes all    beginning and at the end of the year and dividing the sum by 
 income properly paid, credited, distributed or required to be        two. You may also use any other method that accurately 
 distributed.                                                         reflects the average net book value for the year. 
                                                                      Line 1b. Show in column I the gross rentals for the year 
 The only types of income taxable to an estate or trust are           multiplied by eight for all rented property no matter where 
 the following:                                                       the property is found. In column II enter the gross rentals for 
                                                                      the year multiplied by eight for all rented property in the city. 
 (1) The portion of net profits from the operation of a business or   Gross rentals refer only to real property, rented or leased.  
 enterprise operated by the estate or trust from business activity    Rent includes all amounts paid, directly or indirectly, for the 
 conducted in the City of Port Huron. It does not matter whether      use or possession of the property. 
 or not the business or enterprise is located in Port Huron.  We  
 tax businesses outside the City on any portion of its net profits    Line 2. Show in column I the total compensation paid to all 
 that are allocable to business activities in the  City.              employees during the year. In column II enter the amount 
                                                                      of compensation paid to employees for work done or 
 (2) Net profits from rentals of real and tangible personal           services performed within the city of Port Huron during the 
 property located in the City of Port Huron.                          year. 
 (3) Capital gains from the sale or exchange of real and tangible     Line 3. Show in column I the total gross receipts from all 
 personal property located in the City of Port  Huron.                sales or services rendered during the year. In column II 
                                                                      enter the amount of receipts from sales made or services 
 (4) Income from partnerships.                                        rendered in the City of Port Huron during the year. 
                                                                      Line 5. In determining the average percentage, exclude a 
 Instructions for Page One of Form PH-1041                            factor only if the factor does not exist as far as your 
 Line 1 - Show on this line the total net profit (or loss) from       business operation is concerned. If a factor does not exist, 
 business activities reported on page 1 of your federal income tax    divide the sum of the percentages by the number of factors 
 return (Form 1041).                                                  used. 
 
 Line 4 - Show on this line the allocation percentage you             Schedule C - Resident Beneficiaries Share of Exclusions  
 determined in schedule A. If you conducted all of your business      Get the information for this schedule from the comparable areas 
 in the City of Port Huron, enter 100%.                               of the trust’s or estate’s federal return.  Show only information 
                                                                      and amounts for beneficiaries who are City of Port Huron 
 Line 6 - Show on this line the net profit (or loss) from the rental  residents. Fiduciaries must report the amounts in columns 5, 6 
 of real and tangible personal property located in the City of Port   and 9 to each resident beneficiary. The beneficiary will show 
 Huron.                                                               these amounts as exclusions on their individual return PH-1040. 
                                                                      
 Line 7 - Show on this line capital gains (or loss) from the sale or  Assistance 
 exchange of real and tangible personal property located in the       If you have any questions or need help, call (810) 984-9741 
 City of Port Huron.                                                  or email us at incometax. @porthuron.org You can also 
                                                                      visit our office in Room 112 of the Municipal Office Center, 
                                                                      100 McMorran Boulevard, Port Huron, Michigan 48060.