I need to file a Philadelphia BIRT or NPT for multiple Federal income schedules under a single account number with all the income combined. How do I do this in Drake Tax?
The following information applies to Drake20.
You can consolidate several Federal income schedules into a single Philadelphia BIRT (Business Income and Receipts Tax) or NPT (Net Profits Tax) report with the following entries.
- Enter the same number (“1” for example) on the following Federal screen(s), as applicable:
- Federal Schedule C screen > Carryovers/State Info tab > LLC# field
- Federal Schedule F screen > Carryovers/State Info tab > LLC# field
- Federal Schedule E screen > The LLC# field located towards the bottom right hand corner
Note – The LLC# box on the K1P, K1F, or K1S screen should not be used to tie a K1P, K1S, or K1F to the BIRT or NPT as it should have filed at the entity level. Trying to file a BIRT or NPT for a K1 would result in a double tax payment on the same income.
- Enter the matching LLC # on the top left corner of the follow Philadelphia screens:
- NPT, Net Profits Tax – Main Form
- BIRT, Bus Income and Receipts Tax – Main Form
Matching LLC# on the Philadelphia NPT and BIRT and their related Federal screens permits several schedules to be filed under one Philadelphia account # and one report – saving considerable time and effort.