http://www.kenniffonline.com/retained-profits-definition/
Instructions for RCT-101 Tax Form Pennsylvania LLC – Book of Income individual members?
Can anyone direct a full set instructions explaining how to fill the ACE-101 form. I would be happy with an incomplete set since I can not find the instructions of any party, including PA tax home (surprisingly). PA may feel this way is self-explanitory. I'm hanging on the definition of Book Income. I thought I was the benefit 'equity after all taxes and wages and other things were paid. My client SMLLC is simply a consultant who has a lot of income, but other than mileage, no cost, no employees and no retained earnings. Since making an Annex C, all revenues go to your personal tax return and taxed to the AP-40. In a part, I tend to enter $ 0 for the book income because there are no profits. On the other hand, if I enter the Sch C net income does not take into account federal government liabilities, or local taxes which is shared with other family income and difficult to distribute only to the LLC. Help!
Please see the following link: http://www.revenue.state.pa.us/revenue/lib/revenue/2007_rev-1200.pdf
Melina vs Alicia Fox (Divas champion/LumberJill)