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Form 1120 (Schedule M-3) for Detroit Michigan: What You Should Know

Form 1120 (Form 3490). Form 3491. 1. (a) Gross Receipts: Calculated for each city: Year Total receipts Net earnings / Net losses Gross receipts in the year 8,200,000.00 8,200,000.00 0.00 0.00 10,600,000.00 10. Total Net Sales / Income: Calculated for each city: Year Total sales / sales income Gross receipts in the year 12,600,000.00 12,600,000.00 0.00 0.00 16,600,000.00 11. State income tax: Calculated for each city: State Gross income in the year 6,700,000.00 6,700,000.00 0.00 60,000.00 11,500,000.00 Total Gross Profit: Amounts to state income tax in the year: Year Net profit Net gross profit Calculated for each city: Year Net Profit Gross profits in the year 0.00 180,000.00 0.00 0.00 1,860.60 1,860.60 1. b. State tax on earnings: Taxation for Detroit Total tax paid over the year in the amount of income 0.00 60,000.00 0.00 0.00 0.00 2,320.60 1.c. State tax on the tax on gross sales (gross receipts): Taxation for Detroit Total tax paid over the year in the amount of sales 0.00 180,000.00 0.00 0.00 0.00 1,360.

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