Vermont Income Adjustment Calculation: Pass-Through Vermont Sourcing (Schedule BI-477, 2025)

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# PASS-THROUGH NON-APPORTIONABLE INCOME

1. Net Rental Real Estate

Income (loss). . . . . . . . 1A. _ __ .00

1. Other Net Rental

Income (loss). . . . . . . . 2A. _ __ .00

1. Guaranteed Payments for Capital. . . . . . . . . . . 3A. _ __ .00
2. Guaranteed Payments for Services. . . . . . . . . . 4A. _ __ .00
3. Royalties. . . . . . . . . . . . 5A. _ __ .00
4. Net Long Term

Capital Gain (loss). . . . 6A. _ __ .00

1. Net Short Term

Capital Gain (loss). . . . 7A. _ __ .00

1. Net I. R. C. § 1231

Gain (loss) . . . . . . . . . . 8A. _ __ .00

1. Recharacterization of

Part III. . . . . . . . . . . . . . 9A. _ __ .00

1. Total Non-Apportionable

# Vermont Sourced

1B. __ .00
2B. __ .00
3B. __ .00
4B. __ .00
5B. __ .00
6B. __ .00
7B. __ .00
8B. __ .00
9B. __ .00
Lines 1 through 9). . . 10A. _ _ .00 10B. _ .00

# VERMONT ADJUSTMENTS TO NON-APPORTIONABLE INCOME

1. Bonus Depreciation

For Vermont Sourced
Income Above items). . . . . . . . . . . . . 11A. _ _ .00 11B. _ .00

1. Other Add-backs and adjustments (Non-apportionable items). . . . . . . . . . . . . 12A. _ _ .00 12B. _ .00

1B. APPORTIONABLE INCOME CALCULATION
PART III. PASS-THROUGH APPORTIONABLE INCOME

1. Vermont Sales and Receipts Factor as a percent of Everywhere (Schedule A, Line 45). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. _ . _% .

Federal

1. Ordinary Business

Income. . . . . . . . . . . . 14A. _ _ .00 14B. _ .00

1. Interest Income. . . . . . 15A. _ _ .00 15B. _ .00
2. Dividend Income. . . . 16A. _ _ .00 16B. _ .00
3. Other Income (Specify) _. . 17A. _ .00 17B. _ .00
4. I. R. C. § 179

Deduction. . . . . . . . . . 18A. _ _ .00 18B. _ .00

1. Other Deductions (Specify) _. . 19A. _ .00 19B. _ .00
2. Recharacterization of

Part I. . . . . . . . . . . . . . 20A. _ _ .00 20B. _ .00

1. Total Apportionable

Income (before Vermont

Adjustments) (ADD Lines

14 through 20). . . . . . 21A. _ _ .00 21B. _ .00
PART IV. VERMONT ADJUSTMENTS TO APPORTIONABLE INCOME

1. Bonus Depreciation

Adjustment (Apportionable items). 22A. _ _ .00 22B. _ .00

1. Other Add-backs and

Adjustments (Apportionable items). 23A. _ _ .00 23B. _ .00
PART V. COMPLEX STRUCTURES: DISTRIBUTIVE SHARE OF SEPARATE SOURCE INCOME AND ADJUSTMENTS FROM LOWER-TIER PASS-THROUGHS (NO UNITARY RELATIONSHIP) .
Federal

1. Income (loss) from lower-tier partnerships/PTEs (Attach

Affiliation Schedule BA-410 and necessary worksheets). . . . . . . . . 24A. _ _ .00 24B. _ .00

1. Vermont Adjustments from lower-tier partnerships/PTE . . . . 25A. _ _ .00 25B. _ .00

PART VI. INCOME ADJUSTMENT

1. Federal Total (ADD Lines 10A, 21A, and 24A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26. __.00
2. Total Vermont Adjustments (everywhere) (ADD Lines 11A, 12A, 22A, 23A, and 25A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27. __.00
3. Federal Adjusted Gross Income Equivalent from federal Form 1120-S or federal Form 1065, Sch. K with Vermont adjustments (ADD Lines 26 and 27) . . . . . 28. __.00
4. Vermont Sourced Total (ADD Lines 10B, 21B, and 24B). . . . . . . . . . . . . . . . . . . . . . 29. __.00
5. Total Vermont Adjustments (Vermont) (ADD Lines 11B, 12B, 22B, 23B, and 25B). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30. __.00
6. Vermont Income with Vermont Adjustments (ADD Lines 29 and 30). . . . . . . . . . . . . 31. __.00
7. Income Adjustment % (DIVIDE Line 31 by Line 28. MULTIPLY the result by 100 and carry the result out to the sixth decimal place.) . . . . . . . . . . . . . . . . . . 32. _ . _%

Also enter on Schedule BI-473, Line 2.

# SCHEDULE A VERMONT APPORTIONMENT

PART VII. VERMONT SALES AND RECEIPTS FACTOR .
Everywhere

1. Sales or gross receipts.33A. _ __ .00
2. Sales of services. . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . 34B. __ .00
3. Sales of tangible personal property delivered or shipped to purchasers in Vermont from outside Vermont. . . . . . . . . . 35B. __ .00
4. Sales of tangible personal property delivered or shipped to purchasers in Vermont from within Vermont . . . . . . . . . . 36B. __ .00
5. Special Industries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37B. __ .00
6. Apportionable interest and dividends. . . . . . . 38A. _ _ .00 38B. _ .00
7. Royalties. . . . . . . . . . . 39A. _ _ .00 39B. _ .00
8. Gross rents. . . . . . . . . 40A. _ _ .00 40B. _ .00
9. Other apportionable business income (Attach detailed supporting statement). 41A. _ _ .00 41B. _ .00
10. Total Gross Receipts for filing entity (ADD Lines

33 through 41) . . . . . 42A. _ _ .00 42B. _ .00

1. Apportionment Factors from Lower-Tier

Unitary Activity. . . . . 43A. _ _ .00 43B. _ .00

1. Total Gross Receipts (ADD

Lines 42 and 43). . . . 44A. _ _ .00 44B. _ .00

1. Vermont Gross Receipt factor (DIVIDE Line 44B by Line 44A. MULTIPLY the result by 100 and carry the result out to the sixth decimal place.). . . . . . . . . . 45. _ . _%

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# SCHEDULE B WAGE AND PROPERTY FACTOR REPORTING

PART VIII. SALARY AND WAGES (required for reporting only) .
Everywhere

1. Total SALARIES

AND WAGES. . . . . . 46A. _ _ .00 46B. _ .00
PART IX. PROPERTY FACTOR (average value during year) .
Everywhere

1. Inventories. . . . . . . . . 47A. _ _ .00 47B. _ .00
2. Buildings and other depreciable assets (original cost). . 48A. _ _ .00 48B. _ .00
3. Depletable assets (original cost). . . . . . . 49A. _ _ .00 49B. _ .00
4. Land. . . . . . . . . . . . . . 50A. _ _ .00 50B. _ .00
5. Other assets (Attach schedule). . . . 51A. _ _ .00 51B. _ .00
6. Rented real and personal property (Multiply annual rent by 8) . . . . . . . . . . 52A. _ _ .00 52B. _ .00
7. Total PROPERTY

(ADD Lines 47 through 52). . . . . . . . 53A. _ _ .00 53B. _ .00
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