Instructions for Form IC-305 Schedule A-07 Wisconsin Apportionment Percentage for Interstate Air Carriers - Wisconsin

Form IC-305 Schedule A-07 Wisconsin Apportionment Percentage for Interstate Air Carriers - Wisconsin

This document contains official instructions for Form IC-305 Schedule A-07, Wisconsin Apportionment Percentage for Interstate Air Carriers - a form released and collected by the Wisconsin Department of Revenue. An up-to-date fillable Form IC-305 Schedule A-07 is available for download through this link.

FAQ

Q: What is Form IC-305?
A: Form IC-305 is a schedule used by interstate air carriers in Wisconsin to calculate their apportionment percentage.

Q: What is the purpose of Form IC-305?
A: The purpose of Form IC-305 is to determine the portion of an interstate air carrier's income that is subject to Wisconsin taxation.

Q: Who needs to complete Form IC-305?
A: Interstate air carriers that operate in Wisconsin and have income from sources both inside and outside the state need to complete Form IC-305.

Q: What does the apportionment percentage represent?
A: The apportionment percentage represents the portion of an interstate air carrier's income that is allocable to Wisconsin for tax purposes.

Q: How is the apportionment percentage calculated?
A: The apportionment percentage is calculated using a formula that takes into account factors such as miles flown in Wisconsin, revenue passenger miles, and available seat miles.

Q: When is Form IC-305 due?
A: Form IC-305 is due on or before the due date of the interstate air carrier's Wisconsin income tax return.

Q: Are there any penalties for not filing Form IC-305?
A: Failure to file Form IC-305 may result in penalties and interest being imposed by the Wisconsin Department of Revenue.

Q: What should I do if I need help completing Form IC-305?
A: If you need assistance with completing Form IC-305, you can contact the Wisconsin Department of Revenue for guidance.