Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Federal input screens

Screen SecIII - Branch Profits Tax and Tax on Excess Interest (1120)

Branch Profits Tax

The application automatically transfers the adjustments for federal income tax, excess capital losses over capital gains, and tax-exempt interest. To view the values that are included in the printed statement prior to printing, review the Forced Statement Items Worksheet, Page 6.
The application calculates the net equity as of the end of the prior tax year and the end of the current tax year based on the data you enter in this screen, and prints the information on the U.S. Net Equity Worksheet. Enter amounts in these fields only if you want to use a different amount than what is shown on Schedule L. These fields must be used together. If you enter amounts in the beginning of year column, you must also enter amounts in the end of year column. The information entered prints in a statement attached to the return.
Enter the tax rate on branch profits specified in the treaty if treaty benefits apply. If this field is blank, a tax rate of 30 percent is used to calculate the amount of branch profits tax.

Tax on Excess Interest

Enter the tax rate on excess interest if treaty benefits apply. If this field is blank, a tax rate of 30 percent is used to calculate the amount of tax on excess interest.
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close