North Carolina Partnership Income Tax Return
Extracted from PDF file 2017-north-carolina-form-d-403.pdf, last modified October 2017
Partnership Income Tax Return2017 D-403 Partnership Income Tax Return Web 10-17 17 For calendar year 2017, or fiscal year beginning (MM-DD) and ending (MM-DD-YY) Legal Name (USE CAPITAL LETTERS FOR NAME AND ADDRESS) Federal Employer ID Number Legal Name Continued If LLC, Enter N.C. Secretary of State ID Address Fill in all applicable circles: Initial Return Amended Return Final Return Entity is LLC Entity has Nonresident Owners Apartment Number State City Zip Code County (Enter first five letters) NC-NPA Forms attached NC-478 is attached Publicly Traded Partnership Part 1. Computation of Income Tax Due or Refund (See Form D-403A, Instructions for Partnership Income Tax Return.) 1. Total income or loss (From Part 6, Line 12 or Federal Form 1065, Schedule K, Lines 1-11) 1. 2. Guaranteed payments to partners 2. 3. Line 1 minus Line 2 4. Additions to income (From Part 7, Line 4) If amount on Line 1, 3, 5, 7, 8, 9, or 10 is negative, fill in circle. 3. 4. Example: 5. Add Lines 3 and 4 5. 6. Deductions from income (From Part 7, Line 9) 6. 7. Net distributive partnership income (Line 5 minus Line 6) 7. 8. Nonapportionable net distributive partnership income (From Part 3, Line 1) 8. 9. Apportionable net distributive partnership income (Line 7 minus Line 8) 9. 10. Nonapportionable net distributive partnership income allocated to North Carolina (From Part 3, Line 2) 10. 11. Tax due for nonresident partners (Enter Partners’ Total from Part 4, Line 18) 11. 12. Tax credits allocated to nonresident partners (Enter Partners’ Total from Part 4, Line 19) 12. 13. Net tax due for nonresident partners (Enter Partners’ Total from Part 4, Line 20) 13. 14. Tax paid with extension and other prepayments of tax (If filing an amended return, see instructions) 14. 15. Tax paid by other partnerships or by S corporations 15. 16. Tax withheld from personal services income 16. 17. Add Lines 14 through 16 17. 18. Total tax due for nonresident partners (If Line 13 is more than Line 17, subtract and enter the result.) 19. 19a. Penalties 19b. Interest 18. , .00 , .00 (Add Lines 19a and 19b and enter the total on Line 19c) 19c. 20. Total Due for nonresident partners (Add Lines 18 and 19c and enter the result. The manager of the partnership must pay this amount with the return.) 20. 21. Amount to be Refunded (If net tax due on Line 13 is less than Line 17, subtract and enter the result.) 21. , , , , , , , , , , , , , , , , , , , $ , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 Page 2 Legal Name (First 10 Characters) D-403 Web 10-17 Federal Employer ID Number Important: Refer to the Instructions before completing Parts 2 and 3. Part 2. Apportionment Percentage for Partnerships That Have One or More Nonresident Partners and Operate in North Carolina and in One or More Other States 1. Within North Carolina (a) Beginning Period (b) Ending Period 2. Total Everywhere (a) Beginning Period (b) Ending Period 1. Land 2. Buildings 3. Inventories 4. Other property 5. Total (Add Lines 1-4) 6. Average value of property Add amounts on Line 5 for (a) and (b); divide by 2 7. Rented property (Multiply annual rents by 8) Factor 8. Property Factor (Add Lines 6 and 7; % divide Column 1 by Column 2 and enter factor) 9. Gross payroll 10. Compensation of general executive officers 11. Payroll Factor (Line 9 minus Line 10; % divide Column 1 by Column 2 and enter factor) 12. Sales Factor (Divide Column 1 by Column % 2; multiply the result by 4 and enter factor) % 13. Total of Factors (Add Lines 8, 11, and 12) 14. N.C. Apportionment Factor (Divide Line 13 by 6 or the number of factors present; enter result here, % and on Part 4, Line 12 for each nonresident partner.) Partnerships Apportioning Income to N.C. and to Other States Using Single Sales Factor Partnerships that would meet the definition of “excluded corporation” or the definition of “capital intensive corporation” in G.S. 105-130.4 if they were corporations and certain public utilities treated as partnerships must apportion North Carolina income tax using the sales factor alone. These partnerships need not complete the property and payroll factor sections above. Divide Line 12, Column 1 by Line 12, Column 2 and enter result here and on Part 4, Line 12 for each nonresident partner. % Special Apportionment Special apportionment formulas apply to certain types of partnerships such as telephone companies, motor carriers, and railroad companies. If you use a special apportionment formula, enter the computed apportionment factor here and on Part 4, Line 12 for each nonresident partner. % Part 3. Nonapportionable Net Distributive Partnership Income Complete this schedule if you have income classified as nonapportionable income. See the instructions for an explanation of what is apportionable income and what is nonapportionable income. (A) Nonapportionable Income (B) Gross Amounts (C) Related Expenses (D) Net Amounts (E) Net Amounts Allocated (Column B minus Column C) Directly to N.C. 1. Nonapportionable Income (Enter the total of Column D here and on Part 1, Line 8) 2. Nonapportionable Income Allocated to N.C. (Enter the total of Column E here .00 .00 and on Part 1, Line 10) Explanation of why income listed in chart is nonapportionable income rather than apportionable income: (Attach additional sheets if necessary) Page 3 D-403 Web 10-17 Legal Name (First 10 Characters) Federal Employer ID Number If more than two partners, include separate schedule for additional partners. Only one Total is needed. Part 4. A. Partners’ Shares of Income, Adjustments, Tax Credits, and Other Items Complete Lines 1 through 8 for all partners. Complete Lines 9 through 17 for all nonresident partners. Complete Lines 18 through 20. B. Computation of North Carolina Taxable Income for Nonresident Partners C. Computation of Tax Due for Nonresident Partners on Whose Behalf the Partnership Pays the Tax A Attach other pages if needed. Partner 1 Partner 2 Partners’ Total 1. Identifying Number 2. Name 3. Address % 4. Partner’s share percentage % 5. Type of partner (Ex: Ind., Corp., Part.) 6. 7. 8. Additions to income (loss) (To Form NC K-1, Line 2) Deductions from income (loss) (To Form NC K-1, Line 3) Share of Tax Credits (To Form NC K-1, Line 4) NC Resident No Yes B NC Resident No Yes 9. Guaranteed payments to nonresident partners applicable to income on Part 1, Line 9 10. Percentage from Line 4 times amount on Part 1, Line 9 11. Add Lines 9 and 10 12. Apportionment percentage from Part 2 % % 13. Multiply Line 11 by Line 12 14. Guaranteed payments to nonresident partners applicable to income on Part 1, Line 10 15. Percentage from Line 4 times amount on Part 1, Line 10 16. Separately stated items of income attributable to nonresident partners 17. North Carolina taxable income (Add Lines 13, 14, 15, and 16) C 18. Tax Due (Multiply Line 17 by 5.499%) 19. Tax credits allocated to nonresident partners from Line 8 above 20. Net Tax Due (Line 18 minus Line 19) NC-NPA Form attached No Yes NC-NPA Form attached No Yes Important: The Partnership must provide each Partner an NC K-1 for Form D-403 or other information necessary for the Partner to prepare the appropriate North Carolina Tax Return. % Page 4 Legal Name (First 10 Characters) D-403 Web 10-17 (Complete Parts 5 and 6 only if you do not attach a copy of your federal income tax return.) Part 5. Ordinary Business Income (Loss) .00 . .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 1. a. Gross receipts or sales Federal Employer ID Number Part 6. Partners’ Distributive Share Items 1. Ordinary business income (loss) b. Returns and allowances 00 2. Net rental real estate income (loss) c. Balance (Line 1a minus Line 1b) 2. Cost of goods sold (Attach schedule) 3. Gross profit (Line 1c minus Line 2) 4. Ordinary income (loss) from other partnerships, estates, trusts (Attach schedule) 5. Net farm profit (loss) (Attach schedule) 6. Net gain (loss) (Attach schedule) 7. Other income (loss) (Attach schedule) 8. Total Income (Loss) Add Lines 3 through 7 9. Salaries and wages (other than to partners) (Less employment credits) 10. Guaranteed payments to partners 11. Repairs and maintenance 12. Bad debts 13. Rent 14. Taxes and licenses 15. Interest 16. a. Depreciation b. Depreciation reported elsewhere on return .00 .00 .00 .00 .00 .00 .00 c. Balance (Line 16a minus 16b) 17. Depletion 18. Retirement plans, etc. 19. Employee benefit programs 20. Other deductions (Attach schedule) 21. Total Deductions Add the amounts shown in the far right column for Lines 9 through 20 22. Ordinary Business Income (Loss) Line 8 minus Line 21; enter amount here and on Part 6, Line 1 Explanation of changes for Amended Return 3. Other net rental income (loss) 4. Guaranteed Payments 5. Interest income 6. Ordinary dividends 7. Royalties 8. Net short-term capital gain (loss) 9. Net long-term capital gain (loss) 10. Net section 1231 gain (loss) 11. Other income (loss) (Attach schedule) 12. Total Income (Loss) Add Lines 1 through 11 and enter amount here and on Part 1, Line 1 Part 7. Adjustments to Income (Loss) .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 (See Form D-401, Individual Income Tax Instructions) Additions to Income .00 .00 .00 .00 1. Interest income from obligations of states other than North Carolina 2. State, local, or foreign income taxes deducted on the federal return 3. Other additions to income (Attach schedule) 4. Total additions to income (Add Lines 1, 2, and 3 and enter total here and on Part 1, Line 4) Deductions from Income .00 .00 .00 .00 .00 5. Interest income from obligations of the United States or United States’ possessions 6. State, local, or foreign income tax refunds reported as income on federal return 7. Adjustment for bonus depreciation 8. Other deductions from income (Attach schedule) 9. Total deductions from income (Add Lines 5, 6, 7, and 8 and enter total here and on Part 1, Line 6) (Attach additional sheets if necessary) I certify that, to the best of my knowledge, this return is accurate and complete. If prepared by a person other than the managing partner, this certification is based on all information of which preparer has any knowledge. Signature of Managing Partner Signature of Preparer Other Than Managing Partner Date Daytime Telephone Number (Include area code) Date Address If entity is an LLC and it converted to an LLC during the tax year, enter entity name prior to conversion: Preparer’s Daytime Telephone Number (Include area code) FEIN SSN PTIN: (Fill in applicable circle) Preparer’s FEIN, SSN, or PTIN MAIL TO: North Carolina Department of Revenue, P.O. Box 25000, Raleigh, North Carolina 27640-0640
More about the North Carolina Form D-403 Corporate Income Tax Tax Return
We last updated the Partnership Income Tax Return in February 2018, and the latest form we have available is for tax year 2017. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the North Carolina Department of Revenue. You can print other North Carolina tax forms here.
Related North Carolina Corporate Income Tax Forms:
|Form Code||Form Name|
|D-403V||Partnership Income Payment Voucher|
|Form D-403A||Partnership Income Tax Instructions for Form D-403|
|Form D-403TC||Partnership Tax Credit Summary - web fill-in|
North Carolina usually releases forms for the current tax year between January and April. We last updated North Carolina Form D-403 from the Department of Revenue in February 2018.
Form D-403 is a North Carolina Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of North Carolina Form D-403
We have a total of seven past-year versions of Form D-403 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
While we do our best to keep our list of North Carolina Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.