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Page 3 of Return-Form 206
SCHEDULE A-Statement of deductions claimed for repairs, depreciation and depletion In Items 9 (o) and 12 (d)
SCHEDULE B- Explanation of deductions claimed in Items 9 (p), 9 (a), 9 (r) and 12 (1)
STATE OF New YORK - COUNTY OF..
I swear (or affirm) that to the best of my knowledge and belief the statements contained in this return and the accompanying schedules and statemente (it any) are true, and that this return is a
The partnership must report its net income for the calendar
year 1919, unless its books of account were regularly closed in Partnerships as such are not subject to taxation under the
1919 at the end of some month other than Deoember, in which law, but every partnership deriving income (a) from property
ease the retum must be made on the basis of the fiscal yoer which owned within the State of New York, or (b) from a business, ended in 1919. trade, profession or occupation carried on in the State of New York must make a return of its income on this form regardless of
D. WHEN AND WHERE THE RETURN the amount of its gross or net income, and regardless of the residence of the partners.
SHOULD BE FILED. A partnership carries on a business trade, profession or occu
This return should be filed at the office of the New York State pation within the State, if it has, maintains and operates an
Income Tax Bureau, Albany, N. Y., and may be sent or mailed Office, a shop, a store, a warehouse, a factory, an agency or other
to that address. place where its affairs are systematically and regularly carried on.
E. INDIVIDUAL RETURNS OF PARTNERS. The New York State Income Tax Law makes no distinction between limited partnerships and general partnerships, and
Distributive shares taxable to partners. Each partner must all limited partnerships doing business within the State of New
include in bis individual return his distributive share, whether York must likewise make returns of income on this form.
or not such sbare is distributed to, or withdrawn by the partner, An organization, the partnership interosts in which are not
of the net income of the partnership, during the partnership's transferable without the consent of the members is a partner
Accounting period (wbether fiscal of calendar year) which ship and not an association. Any so-called association or organi.
ended during his taxable year (whether fiscal or calendar yea). zation not taxable under Article 9-4 of the Tax Law (The
Every distribution or credit shall be deemed to be a ratable dit Corporation Franchise Tax) and not exempted under such tribution of income of en
tribution of income of each kind (taxable and non-terable) article, will be regarded as a partnership within the meaning of received during the year. the Income Tax Law.
A resident member of a partnership must include in his retera The New York State Income Tax Law. differs from the Federal
erel his distributive share of the profits of every partnership, even Income Tax Law in that personal service corporations are not
though it did no business within the State New York wind classed as partnerships, and therefore are not distinguished from
derived no income from sources within the State. I regidest other corporations. Personal service corporations are not required
is a mcmber of a partnerskip that derives no income from sources to file any returns of income on this form, nor are the stockhald
within the State or fails to file & partnership return, be may be ers of personal service corporations required to report their dig.
required to make a return of the net income of the partnership tributive shares of the income thereof except insofar as they are
A nonresident member of a partnership must include in bis distributed in the form of salaries or dividends.
return his distributive shara of that portion of the partnerski
income which was derived from sources within the Stats i B. ACCRUED OR RECEIVED INCOME.
nonresident is a meinber of a partnership that derived income
(a) from property owned both scithin end soithout the State, or Partnership returns may be made
(b) from business carried on both within and thout the State, (a) On a cash basis; that is, reporting income received there should be attached to and filed with the return, schedule and expenses, etc., paid, or
of apportionment of income on Form 204-A prepared in Record (b) On an accrual basis, that is, showing income accrued ance with the instructions on that form. and expenses, etc., incurred or accrued,
Tesetion of partners in partnership with fisool year rating in accord with the method of accounting regularly employed in in 1919,- If the fiscal year of a partnership begaa in 1918 and keeping the books of the partnership, provided such method ended in 1919, each partner shall report that proportion of his clearly reflects the true income. If the partnership books are not distributive share of the net income of the partnership which kept on accrual basis, it should report income received and ex. the portion of the partnership's accounting period falling withia penses, etc., paid, but in any event must not fail to include all its his taxable year bears to the full year. income even if not entered on the partnership books.
Charitable contributions by partnershipe.- In computing the If the partnership reports income on a cash basis, it must net income of partnershipe, charitable contributions may not be include all income.constructively received, such as bank interest deducted. Each partner may, however, deduct from his personal credited to its account, or interest coupons due and collectible, return bis proportionate share of such charitable contributions but not collected.
made by the partnership as are allowable deductions to
individuals. C. PERIOD TO BE COVERED BY RETURN. The dates on which the period covered by the return began
F. PENALTIES. and ended, if other than the calendar year 1919, must be plainly
Penalties attach for failing to make a return on time, er for stated at the head of the return.
making a false and fraudulent return.
corned both partnership that the State
SPECIFIC INSTRUCTIONS NOTE: Tse following instructions are numbered to correspond with the questions of the return, and relate to the corresponding quoc sons and items there.
CONCERNING PAGE 1 OF RETURN INSTRUCTION 7 – RECONCILIATION INSTRUCTION 3 -- NON-TAXABLE IN. State of New York. (but laterest on the WITH U. S. RETURN:
obligations of other states and their political
subdivisions is taxable). If there is any considerable difference be Tbe following clancos of income are exempt
(d) Interest on bonds or other obligations tween the total net income you did (or w11) from taxation aad need not be reported on report on your U. S. return and item 19 of page 2 of tbe return but should be entered
on which the investmeat tas was paid to the
State of New York between Juge i 1917, and this return you should prepare a statement and reported in reply to question 8: reconcillog all differences, which, if not filed
May 14, 1919, for the period of years for birt
(0) Interest Upon bond, or other obliga. such tax sball bave beca paid. with the return, should be retained, as you tiods of tbe United States. may be required to submit such a statement
(e) Proceeds of Ille Imrance policles sod Ister.
(b) Interest on seegritles issued under the
contracts hald on the deals of ide un Partnerabips may submit la Meu of the provislons of the Federal Faria Loan Aet.ot to individual honeticiaries (but tbe lorose statement of income called for 01 pages 2
he war therefron muct be reported); but the amount and 3 of the return, copies of schedules A, Finance Corporation.
by which the total received on serreader of B C and D and supporting schedules (c) Interest on bonds or other obligations expiratioa of polselee caring the use of the tbereto, submitted on its United States re of the State of New York or or any unic. ineared exceeds the total premtams paid, is turn for the same period.
ipal corporation or political subdivision of the incoa Qod 20be reported lo fece 15
FORM 204—PARTNERSHIP RETURN-PAGE 2 OF INSTRUCTIONS
CONCERNING PAGE 2 OF RETURN
NOTC: Tbe following instructions are nabered to correspond with the questions of the return, and relate to the correspondlag questione
and items there!a.
13 of 14.. See Instruct record divided
INSTRUCTION 9 -- INCOME FROM The announ: claimed for depreciation sbould INSTRUCTION 13-PROFIT (OR LOSS) BUSINESS OR PROFESSION (IN. be based on some approved accounting
FROM THE SALE OR EXCHANGE CLUDING FARMING):
met bod and mot be based on the cost of the
OF STOCKS AND BONDS NOT Partnerships basing several bealnes es may acquired before that date).
DEALT IN AS A BUSINESS: submit a separate chedule for each business Item - Bad Debts: Report here only debts Sale pricc: State the actual consideration in the same form as that abows On the return whicb you have ascertained to be worthless a
* or price or in the case of an exchange, the
no and eater the combined total net incomo on and have cherged of during the year. In case Item u of the retura.
fair market value of the property recelved. of bad debts created prior to January 1, 1919, Report here income from:
Report the fair market value at time of gift only tbe lalr market value on that date can (a) Sales of mercbandise, or of the products be deducted 20 a losa.
of securitles given to others, of maoufacturing, construction, mising and
Cost: Enter the original cost of the prop. agriculture.
INSTRUCTION 10-INCOME FROM IN- erty, or if it was acquired before January 1, (-) Farms, Osbing and logging operations.
1919, the fair market value on that date. For (e) Business service, such as transportation, storage, laandering, hotel and restaurant ser
(8) Do not include Interest accrued prior to the manner of determining the fair market vlce, livery and garage service, etc.
January 1, 1919, even if received'on or after value on January 1, 1919, ses regulations. (a) A profession such as medicine, law or bat. 00 dentistry.
(5) Interest on municipal and state bonde,
ato bonds of the INSTRUCTION 14 --PROFIT (OR LOSS) la gederal, report in Item 9 any income la the earaldg of wbied expenses for labor rent. State of New York, 18 taxable, and must be FROM THE SALE OR EXCHANGE etc., are incurred. Do not report bere divi. reported here.
OF LANDS, BUILDINGS AND OTHER dends from personal service corporations
INSTRUCTION which should be entered under Item 11.
11 - INCOME
PROPERTY NOT DEALT IN. AS A
FROM Income recelved from the sale of lands, DIVIDENDS:
BUSINESS: buildings, equipment, stocka, bonds and other (2) Berort bere all dividends recelved in Sale prkce: State the actual consideration or property not dealt in as a business abould be 1919 whether paid in casa, stock or other price or in the case of an exchange, the fair reported usder Items 13 or 14. property czcept dividends received in 1919
market value of the property received. ReIncome Accrued or Reoelvod: See Instrue. which were declared payable to stockholders port fair market value at time of gitt of tlon B on the reverse side of this page.
lands, etc., given to others. Locome from Professions: In reporting in. (b) Whon dividends are paid la property come from a professloo, disregard the sebe- or stock of tbe corporation the falr market
Cost: Enter In Item F the cost of the propdule of " cost of goods gold” and include all salue of property or stock of the corporation crty, or it was acquired before January 1. your business expenses under the head of at the triae iade payable should be reported, 1919, Ste fair market value on that date. otber business deductions." (Items 1-t.) And & statement should be attached to the Depreciation: See Instruction 9 above.
Jismo dto -Cont of poods sold: Do not return explaining the valuation placed on Include coat of business equipment or faral. Guch dividends. tore, expenditures for permanent improve (c) The time wben the pronta distributed INSTRUCTION 17 --GENERAL DEDUCments to property, or living and family ex. in dizidends were earned by the corporation TIONS. Depseg of any partner. Do not include inter 19 of no signidcance under tbe State Income est on your own tovestment in your business. Ta haw that law ditering somewbat in that (a) Interest on indebtednces: Show the OTRER BUSINESS DEDUCTIONS
respect from tbe Federal Income Tax Law. total interest pald by the partnership. On 'ten 1 -Salaries: 18 salary or other com.
(d) Include bere dividends from personal partnersblp indebtedness. If the partnerabip pensation paid to any partner is included in
service corporations. The State Income Tax hag Do nod-taxable income, It may deduct all Mo Item report the amount thereof lo columa Law altera from the Federal Income Tax Interest pald by it. If It bas bon-taxable la4 of Item 4 on page 1 of the return.
Law in that personal service corporations are come, it is entitled to deduct only a propor Interest: Do not include bere interest on
Dot classed with partnerships, and therefore business indebtedness. All deductible Interest.
tion of the Interest paid, to be determined as are not dlstinguished from other corporations. is to be claimed specifcally as a deduction in
follows: To the gross taxable income of the Item 17a.
INSTRUCTION 12 - INCOME FROM partnership add its non-taxable income. That Item #-Tool: Do not include taxes for
will give its "total gross" Income. The
RENTS AND ROYALTIES: local benefits of a kind tending to increase
partnersblp is entitled to deduct that prothe value of the property assessed as for pay Arrount of rent: If you accept crops or
portion of its Interest paid walch its gross ing, etc., por income taxes.
other property in lieu of cash rents, report Item 0 Repairs, depreciation and depletion: the income as though the rent bad been paid laxable income bears to its total gross income
18 Interest paid or credited to any partner in cash. Report here:
(8) Micor repairs required to keep prop Repairs, depreoiation and depletion. See ID. is included hereta, report the amount thereot erty ja osable condition;
struction 9 above.
· in column 4 of Item 4 on page 1 of the returó. (b) A reasonable allowance for exbadstion, Tares: Keport taxes on rected or leased
() Tases: Report here all taxes paid by wear and tear to tbe extent not offset by re property. Do not include taxes for local
tho partnership not already claimed as a depaire, replacements or losece claimed ag de benefits of a kind tending to increase the
duction in the foregolpe part of the return dactions in this return; value of the property assessed.
excops (a) taxes for local benents of a klad (c) Ady claim for depletion of mipep. on Interest: Do not include letereat inenr and gas wella or timber lands.
or continued to purchase or carry the prod. tending to Incroase the value of the property Do Dot claim depreciation for articles tbat erty. Dedactible Interest should be claimed assessed, (b) income taxes or (c) cotate of
Inheritance taxeo. specifically under Item 17-a. Dave bees are foto your loveatory.
NEW YORK STATE INCOME TAX-FIDUCIARY RETURN
For the Calendar Year 1919 or Fiscal Period, begun
To be used by the fiduciary of every estate or trust (resident and non-resident) the income of which is distributed or distribe table and taxed to beneficiaries, if any beneficiary receives or is entitled to receive from the state or trust a distributive share of ito taxable income of $1000 or over during the taxablo year. SEE INSTRUCTIONS.
NO TAX IS PAYABLE WITH THIS RETURN
DO NOT WRITE IN THE ABOVE BLOCK -- PRINT NAMES AND ADDRESSES PLAINLY BELOW
5. Did you (or will you) file a fiduciary return for this estate or trust for the period covered by this return, with a U.S. Collector of Internal Revesz 6. If so, what amount of Total Net Income did you (or will you) report?.............. .. 7. If the total net incore reported on the U. S. retum differs from the amount of item 20 on this return, tive principal items of dederende, er,
prefer, attach statement reconciling all d Dercocs.
8. Enter bere all NON TAXABLE INCOME received by (or secrued to the estate or trust. (See Lostruction 8 for non latable income)