In Re: Methyl Tertiary Butyl Ether ("MTBE") Products Liability Litigation

Filing 4213

ORDER OF DISMISSAL: After having considered the Stipulation and Request by Petrobras America Inc. for Dismissal, the Court hereby ORDERS, ADJUDGES, AND DECREES that Plaintiff Commonwealth of Puerto Rico's claims against Petrobras America Inc. are hereby DISMISSED, subject to any appeal of the July 16, 2013 Opinion and Order and/or the December 30, 2013 Opinion and Order referenced in the Stipulation as well as this Order. If the Court's July 16, 2013 Opinion and Order, December 30, 2013 Opinion and Order, and this Order are affirmed on appeal, or become final because an appeal is not filed, the dismissal of the above claims against PAI shall be with prejudice. Each side shall bear its own costs. IT IS SO ORDERED. (Signed by Judge Shira A. Scheindlin on 5/21/2015) (Attachments: # 1 Exhibit A, # 2 Exhibit B-1, # 3 Exhibit B-2, # 4 Exhibit C, # 5 Exhibit D)Filed In Associated Cases: 1:00-cv-01898-SAS-DCF, 1:07-cv-10470-SAS(ajs)

Corporation Income Tax Return
TAXABLE YEAR BEGINNING ON
_08/QL __ , _69.Q_g AND ENDINGON_jlf~_1_ _ , ~Q.02

Postal Address

10777 WESTHEIMER ROAD SUITE 1200

TX

HOUSTON

77042
Zip Coda

Check the corresponding box, If applicable

IXJ

First return

CJ

Last return

Contracts with Governmental Entitles

r!J Yes

0

No

CHANGE OF ADDRESS

Oves

0No

2003 RETURN

Ospanrsh

Delaware
E·rnall

!!I eng usn

1. Net operating income (or loss) (From Part V, line 49) ................................................................................. (1) 1------.._;:_
2. Less: Net operating lossdeduclionfrom preceding year(Subrnitdetall) ........................................................ (l!J 1------._:~~
3. Net income (or loss) .................................................................................................................................... (3)

4.
5.
6.
7.

Less: Dividendsorprofitsreceived from domestlccorporationsorpartnerships ..........................................
Net income subject to normal tax (Subtract line 4 from line 3) .....................................................................
Less: Surtax net income credit ......................................................................................................................
Net income subject to surtax (Subtract line 6 from Hne 5) ..............................................................:............

8. Normal tax (Multiply line 5 by 20%) ...............................................................................................................

(4)

1--------=--f

(5) 1---------=

4

(6) 1--------.:::..
(7)

(8)1--------=-~

9. Surtax (See Instructions)............................................................................................................................... (9) 1--------=-~

10. Amount of recapture (See instructions) ......................................................................................................... ( 1 0 ) 1 - - - - - - - - = 11. Total Tax (Add lines 8 through 10) ................................................................................................................ (11) 1 - - - - - - - = - 1
12. Alternative Tax-Capital Gains (ScheduleD Corporation and Par inttrship, Pari VII, lin6 46) .......................... {12) 1-------._;;-1'
13. Tax Determined (Line 11 or 12, whichever is smaller) ................................................................................... (13) 1-------.:::..f
14. Recapture ofinvestmentcreditclalmedinexcess (Schedule BCorporation and Partnership, Part l,lfne3) (14J 1---------..::~:q
15. Tax credits (Schedule B Corporation and Partnership, Part II, line 17) .......................................................... (15) 1------...::..:11¥:1
16. Tax liability before alternative minimum tax (Subtract line 15 from the sum of llnes 13 and 14) ............ (16) 1------._;;--lilt.l.l
17. Alternative minimum tax(ScheduleA Corporation and Partnership, PartV, 1ine32) ....................................... (17) 1------~:_j;
18. Branch profits tax (Form AS 2879, line 11) ................................................................................................... (18) 1-------=-!ffill
19. Total Tax Liability (Add lines 16 through 18) ................................................................................................. (19)1------..::..
20. Addition to the Tax for Failure to Pay Estimated Tax(Schedule T Corporation and Partnership,
Part Ill, line 45) .............................................................................................................................................. (20)~-o-----~~
Less: OtherPaymentsandWithholdings (Schedule B Corporation and Partnership, Part Ill, line 7) .......... (21) 1--------=~~
Balance oftax due (lfthesum of lines 19 and 20 is larger than llne 21, enter the difference
..-------'---...,....,
otherwise,online24)
a) Tax ..........................................................................---·r--------::-i
b) Interest .....................................................................-- '1------~
c) Surcharges ............................................................. ·---....._ _ _ _ _ __
d) Total (Add lines 22(a) through 22(c)) ..............................................;...........
Amount paid with this return ......................................................................................................................
Amount overpaid (If the sum oflfnes 19 and 20 is smaller than line 21, distribute the difference between
lineA orB):
A. To be credited to estimated lax for 2003 ..................................................................................... (24A) 1 - - - - - - - - - F . ! i ' ; r
B. To be refunded ...........................................................................................................................
Computer Expert Group

EXHIBIT B

1 . Net sales .................................................................................................................... ..........
Less: Cost of goods sold or direct costs of production
2. Inventory at the beginning of the year 0 "C"
O·c• or "MV"
(a) Materials .............................................................................. (2a)
(b) Goods in process ................................................................. (2b)l----~fW!.if
(c) Finished goods or merchandise ............................................... (2c)
3. Purchase of materials or merchandise ............................................... (3) t - - - - - - 7 f f l m l
· 4. Direct wages ....................................................................................
(4)
1------::+.
5. Other direct costs (Detail In Part VI) ........................................................ (5) 1------i:l'
6. Total cost of goods available for sale (Add lines 2 thro,llilh 5).............. (6) 1 - - - - - - - 1 '
7. Less: Inventory at the end of the year
U "c" or "MY"
(a) Materials ............................................ (7a) 1 - - - - - - : - £
(b) Goods in process ..................................(7b) 1------~fiml
(c) Finished goods ormerchandlse .......... (7c) .':ii:~~'j:;"k:;ji;;';-:::';;;:;:;:;n::;::1\---'='-----..:..
8. Gross profllon sales or production (Subtractthe result of line61ess line 7,
).................................. ...... (8)
9. Net capital gain (ScheduleD Corporation and Partnership, PartVI,IIne30) ....................................................... (9)1-------"10. Net gain (orloss)from thesaleofpropertyotherthan capital assets (ScheduleD Corp. andPart.,PartVll~ line47) .......... (10)
11. Rent .................................................................................................................................................................. (11)1------"-+~
12. Interest ............................................................................................................................................................. (12)
13. Commissions ................................................................................................................................................... (13) 1-----"""+!ml
14. Dividends from corporations and profits from partnerships; (a) Domeslic _____q_ (b) Forelgn ______Q. (14)
15. Distributable share on netlncomefrom special partnerships (ScheduleR, Part! I, lineS) ...................,................. (15) f------...,.-!'!mi
16. Distributable share on netlosses from special partnerships (ScheduleR, Part II, line 13) ................................... (16) 1-----~
17. Taxable farming profit (ScheduleS Corporation and Partnership, Partl,line9) ................................................... (17)
18. Freight and fares .............................................................................................................................................. (18) 1-------:;.f.
19. Miscellaneous income ...................................................................................................................................... (19)1------320. Total
income
lines 8

D·c·

....................................................... (21)

22. Salaries, commissions and bonuses to employees........................................................... (22) t----~-liY.ll
23. Commissions to businesses .............................................................................................. (23)
24. Social security tax (FICA) ................................................................................................. (24) !----___;~
25. Unemployment
tax ........................................................................................................... (25) t------~iiill
26. State Insurance Fund premiums ...................................................................................... (26)
1-----""-1
27. Medical or hospitalization Insurance ................................................................................. (271 1 - - - - - - - = 28. Insurances ....................................................................................................................... (28) !------=29. Interest (See instructions).................................................................................................. (29) 1-----..!!.
30, Rent ................................................................................................................................. (30) 1-----.:::.g~
31. Propertytax:(a)Personal________
~(b)Real_
--~ ........................ (31)1------=32. Other taxes, patents and licenses (See instructions) ......................................................... (32) f - - - - - - - > < 33. Losses from fire, stonm, other casualties or theft ................................................................ (33) 1-----~*1
34. Motor vehicle expenses .................................................................................................... !34) t------"--i'-"il
35. Meal and entertainment expenses (Totai _____________Q.) (See instructions) (35) 1------=-r.;;m
36. Travel expenses ............................................................................................................... (36) f--,.-----~!;;;1
37. Professional services ...............................................................:........................................ (37) 1 - - - - - . . . : : .
38. Contributions to pension or other qualified plans (See Instructions)................................... (38) 1-----...::.
39. Flexible depreciation (See instructions. Submit Schedule E) ............................................ (39) 1------_::..
40. Accelerated depreciation (See instructions. Submit Schedule E) ...................................... (40) 1 - - - - - - . . . : .
41. Current depreciation and amortization (See instructions. Submit Schedule E) .................. (41)
t------~*1
42. Bad debts (See instructions) .............................................................................................. (42) t------...:.r.i%1
43. Charitable contributions (See instructions) ....................................................................... (43) 1-----~*1
44. Repairs (See Instructions)................................................................................................. (44) 1------=t.r.ill
45. Deduction for employers who employ handicapped persons (See instructions)............... (45) 1-----~t@
46. Contributions to educational contribution accounts for the employees' beneficiaries...... (46) 1-----....:.f.;m
47. Other deductions (See instructions) ................................................................................. (47)
~------~~r---------~~
48. Total deductions (Add Jines 21 through 47) ..........................................................................................................
49. Net
income (or
for the year (Subtract line 48 from line

os.02

dule A Corpor"""'''"'...'
and Partnership

200~-

ALTERNATIVEMINIMUMTAX
Taxable year beginning on_ 08/07_, ~~and ending on ,_ _
12131

Taxpayer's Name

_, ~,9~~

Employer's ldentifi cation Number
76·0235183

PETROBRAS AMERICA, INC.

~~~~~~~~~~~~~
1. Net income subject to normal tax excluding net operating loss from preceding years
2. Adjustments: a. Flexible depreciation ............................................................--·~-----...::..
b. Installment sales .................................................................--·f------'c. Long -term contracts ...........................................................--·~-----'""'+
d. Expenses related with exempt Interest ...................................
e. Accelerated depreciation .................................................... .
f. Total adjustments (Add llnes 2(a) through 2(e)) ....................................................... ·-··t------'-*'"'-1
3. Alternative minimum net Income before the adjustments of Part II and the operating loss (Add lines
1 and 2(f)) ........................................................................................................................

·•Partll
4. Netlncome(orloss) per books ..............................................................................
5. Goodwill amortization expense .............................................................................
6. Income tax expense per books .............................................................................
7. Add lines 4,5 and 6 ..............................................................................................
B. Exempt Interest income net of related expenses .................................................. ..
9. Dividends and profit distributions received from domestic corporations or
partnerships, orfrom industrial or tourism development Income .................... .
10. Industrial development income, exempt tourism development income or bona fide
agricultural business Income .........................................................................
11. Income (or loss) recog nlzed under the equity method .......................................... ..
12. Reserveforcatastrophiclosses ...........................................................................
13. Addlines8through 12.................................................................................................................... ,••,~------"14. Subtract line 13from line 7 ........................................................................................................... ..
15. Subtract line 3from line 14.1fllne31s larger than line 14, enterzero ................................................... , ..,~-----....::...t*WI
16. Adjustment for the excess of the adjusted net Income per books over the alternative minimum net
income ofUne 3 (Multiply line 15 by 50%) ................................................................................................

17. Alternative minimum net Income before the net operating loss (Add lines 3 and 16) ....................... .
18. Net operating loss to detam1ine the alternative minimum t::x (See instructions) ................................... ''"'l-------=19. Subtract line 18 from line 17 (Enter here the difference, but not less than 10% of line 17) ................. ( 1 9 ) 1 - - - - - - = 20. Exemptamount(See instructions) .................................................................................................. I2Dlf----=;.;;..:;,..
21. Alternative minimum net income (Subtract line 20 from line 19) ......................................................... .

22.
23.
24.
25.
26.

Tentative minimum tax (Multiply line 21 by 22%) ............................................... .
Alternative minimum net income before net operating loss deduction (Llne 17) • ,,.,1-----..::..rl!l!tll
AIIO'Nable exempt amount without considering the net operating loss (See instructions).
Subtract line 24 from line 23 ............................................................................ ,,.,f-----...:..sa
Multiply line 25 by 22% .................................................................................. ''""------=l-------~=1
27. Multiply line 26 by 10% ........................................................................:....................................... ..
28. Credit limitation (Subtract llne 27 from line 22) ............................................................................... ' ' " ' t - - - - - - - t
29. Alternative nilnimum credit for foreign taxes paid (This amount cannot exceed the amount on line 28.
See instructions) .......................................................................................................................... · ........

30. Tentative minimum tax (Subtract line 29 from line 22) ...........................................,......................... '""'f-------=31. Adjusted regular tax (See Instructions) .................................................................................................. ,.,,1-----__::-f.l
32. Alternative minimum tax (Subtract line 31 from line 30. If line 31 is largerthan line 30, enter zero, otherwise,
enter the difference on Form 480.10 or 480.20, Part Ill, line 17) .......................................................
Conservation Period; Ten

years

Computer Expert Group

Form AS 2879
Rev. 12.96

Taxpayer's Name
PETROBRAS AMERICA. INC.

Foreign Corporations and Partnerships
Tax on Dividend Equivalent Amount
and Effectively Connected interest
(Branch Profits Tax)

2002
Employer Identification Number
76-0235183

NOTE TO THE TAXPAYER: This schedule applies to foreign corporations and partnerships that derived less than 80 percent of
their combined total gross Income, during the taxable year and the preceding two taxable years, from sources within Puerto Rico
or from Income treated as effectively connected with the operation of a trade or business In Puerto Rico (see instructions). If the
corporation or partnership derived 80 percent or more of its combined total gross income as described here, do not complete this
schedule.

1.Enter regular income before any.net operating Joss deduction (Income Tax Return Forms 480.1, 480.10,
480.2; 480.20, Part I, line 1 or Forms 480.3(11) and 480.30(11), Schedule P, line 17) ............................. (1)

0 00

t-------+--1

2.Additions:
a) Enter excess of flexible depreciation over straightwline depreciation .••••••••.•.••••• (2a>t------o+-oo-l
b) Exempt interest income under Section 1022(b)(4) of the Puerto Rico Internal
Revenue Code of 1994, as amended (Code), net of related expenses............... (2b)l-----o+-oo-l
c) Other addtitions (See Section 1119 of the Code):

(2 _ _ _ _
c)._
o..~.-oo-l
3.Total additions. (Add lines 2(a) through 2(c)) ...................................................................................... (3>t-----o-+o_o-i
4. Deductions:
00
a) Taxes paid (Enter the sum of normal tax, surtax, and alternative minimum tax). ( 4 a ) t - - - - - 0-f--l
b) Previous year Branch Profits Tax .................................................................... (4b)l------o+-oo_,
c) Enter interest deduction attributable to interest derived from exempt obligations
0 00
(Applicable to financial institutions only. See Instructions)................................. (4c) .
d) Meals and entertainment (Non-deductible) ..................................................... (4d)
o oo
e) Penalties ...................................................................................................... (4e)
0 00
f) Other deductions (See Section 1119 of the Code) ............................................ ct)
o oo
4

5. Total_deductions (Add lines 4(a) through 4(f)) ........................~ .........................................:................. (5)

·

0 00

6. Effectively connected earnings and profits (Subtract line 5 from the sum of lines 1 and 3) ................. (6)

0 00

7.Enter Puerto Rico net equity at the end of the current taxable year .................................................... (7)

0 00

B. Enter Puerto Rico net equity at the end of the previous taxable year .................................................. (8)

0 00

9.1ncrease/decrease In Puerto Rico net equity (Subtract line 8 from line 7. See Instructions) .................. (9)

0 00

10.Dividend equivalent amount (Subtract line 9 from line 6. See instructions) ...................................... (10)

0

00

11. Branch profits tax liability (Multiply line 10 by 10%) ........................................................................ (11)

0

00

Computer Expert Group

PETROBRAS AMERICA, INC.
ACCOUNT NO. 76-0235183

STATEMENT TO BE ATTACHED AND MADE PART OF THE
PUERTO RICO CORPORATION INCOME TAX RETURN
FOR THE YEAR ENDED DECEMBER 31, 2002

Certified Financial Statements are not made part of this Return since the
gross revenues did not exceed one million dollars for the year ended
December 31, 2002 (S.ection 1018 (c) of the Puerto Rico Internal Revenue
Code of 1994, as amended). ·

,.

.

J"odlfllo SC 2644
Form~
Rev. 01.03'

llmllllllllllll.IIDI1111111111

Ullll ~~

ESTAOO LIBREASOCIADODEPUERTO RICO·COMMONWEALTH OF PUERTO RICO
Departamento de Haclenda ·Department ol the TreaSUfY
DE PRORROGAPARARENDIR LAPLANILLA OE CONTRIBUCION SOBRE INCliREioOS
Request for EJCienslon ofTlmeto File the Income Tax Reltlm

•

. . ]' ·- . . . ·-· ·.. . . . . . . . . . ·r·
.
.
!............1. .... LJ.....I L. . L. . L. ..!........!
1·· ... ,.....

""r

..1

N11mbre dellndlvldllo
Individual's First Name

lnlclal
Initial

ApeJJJdo Pat&m"
Last Nama

Ape!Jido Mat.mo
second Last Name

Hambrtde 1~ Corporaclon,Socledad, suce;lon oFidtlCIII>Ilrr>.·Corporallon, Partnerohfp, E6tate orTrusl Name

ocupaclonlNt~~oc:lo
occupatlon/Bu~Jness

UNFINISHED CRUDE 01~ IMPORTER

Parte~ Part

II: lnfonnacion del (de los) Patrono(s) pata quien(es) Trabaja ·Information of the Employer(s)forwhom you Work

Hombre dtl Palrono- Employer's Nome

Dlrtecllm-Addrest~

1.
Nr>mbro del Patrono- Employer's Name

Hlimt11Ddilldcnllllcacl6nPatmnaJ.fm~ Jdenllfica1ionNuMber

Dlraccllln-Address

C6dJgo Postal- Zlp Code

r--r"-1 r··-r··· ...,. . .,--r--i. . . . .r. . . . l

Codlgo Postal- ZJp Code

2.

t,_).,.,]l.,_l. ... L.LL..l....... l ... ..

Parte ~Part Ill: lngresos • Income
1. lngreso segOn Comprobante de Relenc16n o lngreso Eatlmado ,, ............... ,,,, ,,, ••• , •• , •••• ~ ......... ..
lnctlme as per Wrthholdlng Statement or Estimated Income

2, Otrcs lngteftO:& ............... ,. •••••••••••••••• ••••••••••••• a••••••••• ' •• ~ ........................ t •••••••• '
Other Income

' •• •••••••

3. Total de lngreso Sl'tlto ....................................................................................... , ...... .
Total Gross Income

r-..r·r. ··l r. . r-nr. . r- ···ra·l roTol
-L....

!...••.1
...

L
..

I ........ _,_l --...

L .......!,.• _! •.......J ....-.J

rrT!........-, r··.......l.._._,r(_,..................._. roTol..
. .. . i .......r····TOI ...............
............

f""f_T_ ... f"···r·:-·-. r·-········ ......... I"""T"""I
.L.J i .......L.LI L.....L......J...?...l .,Q..!..~..J

L •.J......

Parte. Part IV: Jmporte lncluJdo con esta SoJicilud ·Amount Included with this Request
1. Balance Pendlante de Pago .... •• ••• •··· ............. , ............ • • • .. • ............... • ...... •• ••• ........... ,.

Balance of Tax Due
%. Contribuci6n Mlcional Especiai{AnoJo

N lncontivos) •.. .. ••.. • • .. .. •• .... .. •.. (CIFRA DE INGRESO 0215)

Spsclal Surtax (Sl::hedu/e N lncenllves}

r-r-r··"l r""[Tl C"T"'"""o1· f'.....TOl
o
t......
!...._
- .........

3. Prepago dellmpuesto sabre ~epatriaci6n (Formulario 480.3{11}, Parte IV) .. ..
Prepayment ofTolfgateTax (Fonn 460.30(11}, Part M

(CIFRA DE tNGRESO 0242)

4, Contrlbuci6n sobre Jngresos Opcional para NegCllilos Exentos (Anejo 0 lncenlivos) {CIFRA DE INGRESO tl213)
Optional Income Tax for Exempt Businesses (Schedule 0 lncenUves)

•

-,,--;r-l!_. ,..lr~. . -1:-111,..........·!~ ······1~'"o-·l. .~~--o··-~--o""tli
. i
- ......... _,,_,,, ~-.. ..... _
....................._._, ·.-J........

VEASE AL DORSO ·SEE ON BACK

1" ·- .... ___ ....... ••• ......

.!........·

~-T-r·-~

r·. ~ ! .,. m;T . . . . (jl "'Ql"i)l
!.. . . ·. __ ]!....... . :. .... ..L .. I I... ...J........I

j""""j'"'T"""I

<'. "···---· I"""'. .T···"""To! foTol
!. ""m . . . . . . . . .. . . . . . .

·........- .........
--......... \... .....

l

Computer Expert Group

;.•

,Mode!oSC2544, Rev. 01.03 ·P6glna2

I~1~1111~ ll~lll~liii~JmiiiiiiN IIIII Ull
Clase de contribuyente. Type of taxpayer

f""'l 1. lndividuo • Individual

t.. ......l

['"'"'1
... ,.!

,, __1

"""!
!...... l

l..~.J .&. Corporac16n ·Corporation
,.-""\

I

i 5.

........!

[ ] 3. Fideicomiso· Trust

2. Sucesi6n ·Estate

Corpolaclon baJo el Prograrm.1 de Incentives
Contriblrtlvos de Puerto Rico· Partnemhlp under the Puerto
Rico Tax lncentfvea Program

8. Socledad • Partnership

!' .• "I 9, Socledad bajo el Programa de !nc:entivos COII1ributivos de Puerto Rico
L ....l Corporation under the Puerto Rico Tax Incentives Program
[ ] 10. Socledlld Especial· Special Partnership

f"""1
_,_J

6. CorporachSn Especial ProFlledad de 'Tiabajadores. ·

f'.........'
"""i

7. Corporacl6n de lndlvldu'D$ ·Subchapter N Corporation

~

Employees - owned Special Corporation

f ... 'i 11. Organlzacl6n Sin Fines de Lucro ·Nor"! Profit organlza1ion
L .... J

!"""'I 12. Corporacl6n o Socledild acog!da a Ia Seccl6n 936 del C6dlgo de Rentas lntemas Federal
~•••..!
Corporation or partnershil) that has an election Under Section 936 of the Federal Internal Revenue
Code

[J 1. lndivlduo -Individual

[ ] 2. Suceslon -Estate

[ ] 3. Fldelcomlsa -Trust

-Reasons
THE FINANCIAL INFORMATION NECESSARY TO PREPARE THE RETURN WILL NOT BE AVAILABLE BEFORE APRIL 15,2003,

Juramenta· Oath
Declare bajo penalidad de perjurio, que Ia Informacion aqui suministrada ha sido examinada por mi y que segun mi major infonnaciOn ·y creencia es
cierta, coll'llcta y completa.
1hereby declare under penahy of pel'jufY, thai thls lnformallon has been examined by me and to the best of my knowledge and belief Is true, COI'Tect and complete.

t1

rl/!

I'' ...................... ,...................

I
I

N_ ......... ---..- ....................,_.................. __ ............................_.............

1

I
!

.

t,_,..,............- ..- ...................................::-:--.....:............._,_,,...............,_,,_.,......................................1

Firma del

entante autorizado

Signature of the duly aulhori2::e<l agent

•

Computer Expert Group

'

'

Assets

1 . Gash on hand and in banks .......... .
2. Accounts receivable ......................
3. Less: Reserve for bad debts .........
4. Notes receivable ............................
5. Inventories ....................................
6. Investments ..................................
7. Depreciable assets ........................

8. Less: Reserve for depreciation ... ..
9. Land .............................................
10. Other assets .................................
11. Total Assets .................................
Liabilities and Stockholder's Equity
Liabilities
12. Accounts payable ..........................
13. Notes payable .................................
14. Accrued expenses .........................
15, Other liabilities ...............................
16. Total Liabilities .........................:..
Stockholder's Equity
17. Capital stock
(a) Preferred stocks .........................
{b) Common stocks .........................
8. Additional paid In capital .................
Retained earnings ..........................
20. Reserve ..........................................
21. Total Stockholder's Equity ........ ..

1. Netincome(orloss)perbooks .........

1-------=-iiM.il 7.Jncome recorded on books this year

2. Income tax .......................................
3. Excess of capitallosses over capital
gains .............................................

(3) 1-------=-m.;m

4. Taxable Income not recorded on
books this year(ltemlze)
(a)
(b)

(c)_____
o
0

<~0
(d)
0
Total.............................................
5. Expenses recorded on books this
year not claimed on this return
{Itemize, use schedule if necessary)
(a) Meal and entertainment( amount
not claimed) ___________!
(b) Depreclation_ _ _ _ _ _
o

(4lf------~

not

Included on this return (Itemize, use
schedule If necessary)
(a) Exempt interest _________o_
(b)_
0

o

(d)____
0
Total ....................................................... (7ll-----__.;:_-l.!.
8. Deductions on this tax return not charged
againstbookincomethlsyear{ltsmiza,use
schedule if necessary)
o
(a) Depreciation
(b) _ _ _ _ _ _ _ _ _ _ _ _L

(c)-____ Q_
(d) _ _ _ _ _ _ _ _ _ _ _?_
Total .......................................................
9. Total (Add lines 7 and B) ............................. '"'1-------"-l'm.t
Net taxable income (or Joss) per return
(Subtract line 9 from line 6) ................ ...

(c)------------~

(d) ___________ ~
Total ................................................
lines 1 through

6. Total

1. Balance at the beginning oflheyear
2. Net income per books ....................

3. Other increases

(Itemize, use
schedule if necessary)------~
0

4. Total

(2) f--'-----~~

(a) Cash ............................. l""l~------'E(b) Property ........................ I•Dll-------=(c) Stocks .......................... l""ll-----.....;-r®.:~
Otherdecreases(Usescheduleifnecessary)
Total (Add lines 5 and 6) ..............................
Balance at end ofyear(Subtractline 7 from
4) ..........................................................

Social security number

Total compensation to officers

If a foreign corporation, Indicate If the trade or business In
Puerto Rico was held as a branch ..................................... .
If a branch, what[Jil represents the Income from sources
within Puerto Rico from the total Income of the corporation?
3. Is the corporation under Section 936 of the Federal internal
Revenue Code? .....................................................................
Did the corporation keep any part of Its records on a
computerized system during this year? .................................... ..
5. The corporation's books are in care of:

Name_~q_~~~------------­

Address 10777 Westhelmer Road, Suite 1200
Houston
TX
77042

6. I !l!!!.cate the accounting method used for book (tax) purposes:

U

Cash

Percentage of stocks owned

Compensallon

(Enter In Part V, line 21} ...............................................................................................................

1.

CJ Other(speclfy}:

time
devoted to
Industry or business

l!J

Accrual

7. Old the corporation file the following documents?:
(a} Informative Return (Forms 480.5, 480.6A, 480.66} .... (7a)
(b} Withholding Statement (Form 499R·21W·2PR) ............ (7b)
If the gross Income exceeds $1,000,000, are financial
statements audited by a CPA licensed In Puerto Rico Included
with this return?......................................................................

9.Number of employees during the year: __________
o_

0. Did the corporation claim a deduction for expenses connected
with:
(a)Vessels? ................................................................................... (10a)
(b) Living expenses? ...................................................................... {10b)
(c) Employees attending conventions or meetings outside Puerto
Rico or the United States?...................................................... (10c)
11. Old the corporation distribute dividends other than stock
dividends or distributions In liquidation in excess of the
corporation's current and accumulated earnings? ......... ..
the corporation a partner In any special partnership? ............. ..
Name of the special partnershiP-----·------·
Employer's identification n u m b e r - - - - - - - - - - 3.Js the corporation a member of a controlled group? ...................... .
Enterthe amount of exempt interest:
0
5. Enter the amount corresponding to charitable contributions to
municipalities Included In Part V,llne 43:
0
16.1nd!cate if Insurance premiums were paid by an
unauthorized Insurer .............................................................. .
17.Employer's number assigned by the Department of Labor and
Human Resources:
N/A
18. Number of stockholders:

We, the undersigned, president lorvlce•P,resldent~ or other P.rinci!lal officer) and treasurer (or asslstanttreasurer),(oragentofthe corP. oration
for which this income tax return is maae, each Tor himself declare under penalty of perlury, that this return lncruding schedules and
statements attached) has been examined by usi and to the best of our knowledge and belief, Is a true1 correct, and complete return, made In
good faith, pursuantto the Puerto Rico lnterna Revenue Code of 1994, as amended, and the Regulations thereunder.

----------

President's or vice-president's signature

NOTARY
SEAL

Affidavit No.-------

Treasurer's or assistant treasurer's signature
Agent

Sworn and subscribed before me by
- - - - - - - - - - - - - - - - - · of legal age, - - - - - - - - - - - - [olvllstatus],
- - - - - - - - - - - - [occupation], and resident of - - - - - - - - - - - - - - - • - - - and b Y - - - - - - - - - - - - - - · oflegelage, _
[civilstatus],
_[occupation],
and resident of - - - - - - - - - - · ---· - - - - - - · personally known to me or identified by means of ______________, at
- - - - - - - - - - · - - - - - - - - - • this __ day of - - - - - - - - - • - - - - - ·

:.,._j,

0_3

COiv.IM:ONWEALTH OF PUERTO RICO
DEPARTMENT OF THE TREASURY

200_

J

Corporation Income Tax Return
TAXABLE YEAR BEGJNNING ON

__

,2003

01/01

Postal Address
10777 Westheimer Road, Suite 1200
Houston, TX
Zip Code

ofPrincipal Industry or Business (i.e. Hardware, Cafeteria, etc.)
Unf'mished Crude Oil Importer
I

CHANGE OF ADDRESS

0

First return

0

Lastretum

0

Contracts with Governmental Entities

IKJ Yes

Yes

ll£1

Delaware

No

2004 Retwn

0

Spanish

E-mail

!!] English

1. Net operating income (or loss) (From Part V, line 49) ............................................................................. (I) 1-------:~~~~~
2. Less: Net operating loss deduction from preceding year (Submit detail) ........................................................... (2) 1--------.::-~
3. Net income
4. Less: Dividends or profits received from domestic corporations or partnerships .................................................. (4)1--------.::....f.*-f

5. Net income subject to normal tax (Subtract line 4 from line 3) ................................................................ ..
6. Less: Surtax net income credit ........................................................................................................ .
7. Net income subject to surtax (Subtract line 6 from line 5) ....................................................................... .
8. Normal tax (Multiply line 5 by 20%) ............ .. : .................................................................................. (8) 1-----_.::=:..:..:::....t;~
9. Surtax (Sec instructions)............................................................................................................... (9)
r-------~~~_g~

10. Amount of recapture (See instructions)... ... ... .. . .. . ... ... ... .. . ... ... ... .. . .. . ... ... ... .. . ... .. . ... .. . ... .. . ... .. • . .. .. . ... .. . .. . . (10) 1------..:..::=:.::...~
11. Total Tax (Add lines 8 through 10) .................................................................................................. (II)
12. Alternative Tax- Capital Gains (ScheduleD Corporation and Partnership, Part VII, line 46) .................................. (l 2) ,__ _ _ _....;;.;;;;..:.;_.;..:~~
13. Tax Determined (Line 11 or 12, whichever is smaller) ... ... ... ... ... ... ... ... .. . ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... .. (1 3)

14. Recapture of investment credit claimed in excess (Schedule B Corporation and Partnership, Part I, line 3) ..................
15. Tax credits (Schedule B Corporation and Partnership, Part II, line 18) ... .. . .. . .. . .. . .. . .. . .. . ... .. . .. . ... ... . .. .. . . .. . .. .. . .. . .
16. Tax liability before alternative minimum tax (Subtract line 15 from tho sum of lines 13 and 14) ...........................
17. Alternative minimum tax (Schedule A Corporation and Partnership, Part V, line 33) ...........................................
18. Branch profitstax(Form AS 2879, line 11) ..........................................................................................

r-------~~~-ffl~

(1 4) 1--------"'--~
(15)

c16) 1--------..:;_!;'i,H
(1?)
(1 8 )1----------~~

19. Tax on eligible interest (See instrnctions) ........................................................................................... (19)
20. Total Tnx Liability (Add lines 16 through 19) .................................................................................... (20)
1-------------"--21. Addition to theTax for Failure to Pay Estimated Tax (Schedule T Corporation and Partnership,

r-----------------

Part III, line 44) ........ : .............................................................................................................. .
22. Less: Other Payments and Wlthholdings (Schedule B Corporation and Partnership, Part III, line 8) ..................... .
23. Balance of tax due (If the sum of lines 20 and 21 is larger than line 22, enter the difference here,
otherwise, on line 25) a) Tax ....................................................................... (23a)l-----------!im;.!
b) Interest ................................................................. .
c) Surcharges .............................................................. .
d) Total (Add lines 23(a) through 23(c)) ................................................................. (23d)r------------'--!;;;;t
24. Amount paid with this return .. . .. . ... .. . . . . .. . .. . . . . . . . . .. .. . .. . .. . .. . . .. .. . .. . .. . .. . . . . .. . .. . ... .. . .. . . .. .. . . .. ... . . . .. . .. . ... . . . .. . (24) 1---------~tt.:l
25. AmolUlt overpaid (If the sum of lines 20 and 21 is smaller than line 22, distribute the difference between
line A or B):
A. To be credited to estimated tax for 2004 ........................................................................... .
B. To be refunded ........................................................................................................ .
Conservation Period: Ten (10) years

Computer Expert Group

Form 4S·D.20 Rev. 05.03

Inc.

1. Net sales .............................................................................................................. (1)

/

Less: Cost of goods sold or direct costs of production
1----..:._.....:...._-f
2. Inventory at the beginning of the year
"C"
[i] "C" or "MV"
(a) Materials ...................................................................... (2a) 1-----....::.-f
(b) Goods in process ............................................................. (2b)l-----_;;_~*l
(c) Finished goods or merchandise............................................. (2c)t--------"'-f.:ii#f
3. Purchase of materials or merchandise ............................................ ..
4. Directwages............................................................................ (4)1-----_;;_-f.if.:if.f
5. Other direct costs (Detail in Part VI)............................................... (5) 1-----~*-"'~
6. Total cost of goods available for sale (Add lines 2 through 5~ . ................ (6)1--~~~~
7. Less: Inventory at the end of the year
"C" ....----..._--.....,=:~
(a) Materials........................................ ( 7 a ) l - - - - - - " - (b) Goods in process................................ (7b)f------=-i
(c) Finished goods or merchandise.. .. . . .. ... .. . (?c)
203,805,010

0

0

8. Gross profit on sales or production (Subtract the result of line 6 less line 7, from line 1) ........................................... ..
9. Net capital gain (ScheduleD Corporation and Partnership, Part VI, line 30) ......................................................... .
10. Net gain (or loss) from the sale of property other than capital assets (ScheduleD Corp. and Part., Part VIII, line 47) ............. ..
11. Rent... . .. ... ... .. . ... .. . ... .. . ... ... ... .. . . .. ... . .. .. . . .. . .. ... .. . . .. ... ... . .. ...... .. . .. . ... .. . .. . .. . ... . .. .. . ... ... ... .. . . .. ... ... .. . . .. . .. ... (I ·1------1¥,;:;:;:;
12. Interest......................................................................................................................................... .
13. Commissions ................................................................................................................................. ..
14. Dividends from corporations and profits from partnerships: (a) Domestic
0 (b) Foreign
0
15. Distributable share on net income from special partnerships (Schedule R, Part II, line 8) ....................................... ..
16. Distributable share on net losses from special partnertships (ScheduleR, Part II, line 13) ....................................... ..
17. Taxable forming profit (ScheduleS Corporation and Partnerships, Part I, line 9) .................................................. .
18. Freight and fares ............................................................................................................................. .
19. Misceiianeous income....................................................................................................................... .
Total
lines 8
21. Compensation to officers (See instructions for Part X) ................................................... ..
22. Salaries, commissions and bonuses to employees ........................................................... .
23. Commissions to businesses ..................................................................................... (23)1-----.....;:;-f
24. Social security tax (FICA) ....................................................................................... (24)1----=...;"'--r.
25. Unemployment tax ............................................................................................... (25)1----~~g
26. State Insurance Fund premiums .. . ... .. . .. . .. . .. . .. . ... . .. .. . .. .... ... ... .. . ... .. . ... ... ... .. . ... .. . .. . .. . .. . .. (26)1-------'=-=-f.;o;:
27. Medical or hospitalization insurance ........................................................................ ..
28. Insurances .. · .. · .. · ........ · .. · .. · .. · ........ · .. · ........ · .. · .. · .. · .. · .. · ........ · .. · · .... · .. · .. · · .... · .. · .. · .. · · ..
29. Interest (See instructions) ........................................................................................ (29)1-----....!!-f.ii
30. Rent .................................................................................................................. (30)1------=c::...;;;:;,
31. Property tax: (a) Personal
0
(b) Real
0 ................................. (31)1-----~~
32. Other taxes, patents and licenses (See instructions) ........................................................ .
33. Losses from frre, storm, other casualties or theft ........................................................... .
34. Motor vehicle expenses .......................................................................................... (34)1-----.....::.-rno
35. Meal and entertainment expenses (Total
o
(See instructions) ..................... (35 )1-----.....::.-e;~
36. Tmvel expenses ................................................................................................... (36)1----..!..1!~--ffii;;;:;:;J
37. Professional services ............................................................................................ .
38. Contributions to pensions or other qualified plans (See instructions) ................................. ..
39. Flexible depreciation (See instructions. Submit Schedule E) ............................................. ..
40. Accelerated depreciation (See instructions. Submit Schedule E) ........................................... (40)t------"--;.;:o""'"'
41. Current depreciation and amortization (See instructions. Submit Schedule E) ........................... (41)1-------=:.-R~
42. Bad debts (See instructions) .................................................................................... .
43. Charitable contributions (See instructions) .................................................................... (43)
1-----!!...f.~

44. Repairs (See instructions) ...................................................................................... .
45. Deduction for employers who employ handicapped persons (See instructions) ........................ .
46. Contributions to educational contribution accounts for the employees' beneficiaries ................... <46)1------.....::.-.m;:&.~
47. Other deductions (See instructions) ............................................................................ (47),___---'==<-=....mq------.,=,.1
48. Total deductions (Add lines 21 through 47) ............................................................................................. (48) I-__;~~~
49. Net
for the
line 48 from line 20. Enter here and in Part line

~chedule
Rev. 05 ·03

A Corporation
and Partnership

200 3

ALTERNATIVE MINIMUM TAX
Taxable year begiMing on

01/01

, 2003 and ending on

12/31

2003

Employer's Identification Number
76-0235183

Taxpayer's Name

Petr.obras America, Inc.

·. Pnrti. · --~------------------------------------------L---------------~
1. Net income subject to normal tax
net
Joss from
years and cxcl

net capital gain that you had elected to pay taxes at the special rates (See instructions) ........................ r-::.:...:~.:..:..:.:::...:.:.:...::.:~-rl*-!----=2:!:,0:.::6:::0!::,8::::9=.2_.u:
4
2. Adjustments:
a. Flexible depreciation .................. .:. ... ... ... ... ... ... ...... ... ... ... ... ... ... ... .. (2a) 1------.:.....~1;'1
b. Installment sales........................................................................... (2b) 1------~~i;'l
c. Long-term contracts ... .. . . .. .. . ... .. . ... ... . .. .. . .. . ... .. . .. . . .. ... ... ... . .. . .. .. . .. . .. . . (2c) 1------~..g,:$l
d. Expenses related 'With exempt interest ... .. . . .. ... .. . ... ... . .. .. . ... . .. ... .. . .. . .. . ... (2d) 1------.:.....~i;'l
e. Accelerated depreciation .. . .. . ... .. . ... ... ... .. . .. . .. . ... ... .. . .. . ... ... ... .. . . .. ... .. . . (2e) '-------~~¥1-------...,d
f. Total adjustments (Add Jines 2(a) through 2(e) ..................................................................... {2f) 1 - - - - - - ofPart II and the
... ... ... .. . .. (3)

- - -------· -Partll .
4.
5.
6.
7.
8.
9.

Net income (or loss) per books .............................................................................. ..
Goodwill amortization expense .............................................................................. .
Income tax expense per books ................................................................................ .
Add lines 4, 5 and 6 ............................................................................................. .
Exempt interest income net of related expenses .. . ... ... ...... ... ... ... .. . ... ... .. . ... .. .... ... .. . ...... .. . (8)1------~
Dividends and profit distributions received from domestic corporations or
partnerships, or from industrial or tourism development income ....................................... ..
10. Industrial development income, exempt tourism development income or bona fide
agricultural business income ................................................................................. ..
11. Income (orloss) recognized under the equity method .................................................... ..
12. Reserve for catastrophic losses ................................................................................. (12)

f-----___;_-#.i;~

13. Net long-term capital gain (See instructions) ................................................................ (13) L------:....1~4-------::-,d
14. Add lines 8 through 13 ......................................................................................................................... (14)
t-------1'~

15. Subtract line 14from line? .................................................................................................................. ..
16. Subtract line 3 from line 15. If line 3 is larger than line 15, enter zero ................................................................. (1
17. Adjustment for the excess of the adjusted net income per books over the alternative minimum net income of line
3 (Multiply line 16 by 50%) ................................................................................................................... (17)

· Partm
18. Alternative minimum net income before the net operating loss (Add lines 3 and 17) ............................................... (18)1------_g
19. Net operating loss to detennine the alternative :mirllmum tax (See instructions) ...................................................... (19) t-----.....::..----1*-m:~
20. Subtract line 19 from line 18 (Enter here the difference, but 11otless than 10% of line 18) ......................................... (20) I--~~~~~
21. Exempt amount (See instructions) ............................................................................................................ (21) 1---------t~
22. Alternative minimum net income (Subtract line 21 from line 20) ....................................................................... (22)

· PnrtN ·
23. Tentative minimum tax (Multiply line 22 by 22%) ............................................................... 'r"~":.:.'.:.:".:..:":.:..:"~·:.:.".:.:".:..:":.:..:":..:.·:.:.".:..'&.;8-----...:---ll~
24. Alternative minimum net income before net operating loss deduction (Line 18) ..................... ..
25. Allowable exempt amount without considering the net operating loss (Sec instructions) ............ ..
26. Subtract line 25 from line 24 ................................................................................... .
27. Multiply line 26 by 22% ....................................................................................... .
28. Multiply line 27 by 10% ....................................................................................................................... (28) 1----..:._--f=-:t
29. Credit limitation (Subtract line 28 from line 23) ........................................................................................... (29) 1----=.c'-'-30. Alternative minimum credit for foreign taxes paid (Tins amount cannot exceed the amount on line 29.
See
31. Tentative minimum tax (Subtract line 30 from line 23) ................................................................................... (31)

~------~---¥.~

32. Adjusted regular tax (See instructions) ...................................................................................................... (32) t----==.!.:...:..:.._-f
33. Alternative minimum tax (Subtract line 32 from line 31. Ifline 32 is larger than line 31, enter zero, otherwise,
the difference on
years

Schedule B Corporation
and Partnership

Rev. os.o3

RECAPTURE OF INVESTMENT CREDIT
CLAIMED IN EXCESS, TAX CREDITS, AND
OTHER PAYMENTS AND WITHHOLDINGS

200 3

Taxpayer's Name

Employer's Identification Number
76-0235183

Name of entity:
Employer's identification No:
Investment Credit:
Tourism Development .........

oo• . . . . . . . . . . . . . . .

00.

00 . . . . . . .

00. 00. . .

1

Solid Waste Disposal ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 2
Agricultural Incentives .......................................
Capital Investment Fund
00 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

oo• . . . . .

3

oo• . . • . . .

4

Theatrical District of Santurce ........ , .. . .. . .. . ... .. . .. . .. . .. . .. . .. 5
Film Industry DevelopmeJlt ... .. . ... ... ... .. . .. . ... .. . .. . ... ... ... .. 6

DooOOOooooOOooooOOoooOoooooooooooo

Dooooooooooooooooooooooooooooooooo

2

Doo•ooooooooooooOOoooooooooOoooooo

4

oo•oooooooooooooooooooooooo

5

o .................................

o ..................

Other:

10

ooooooooooooooo

1

00 . . . . . . . . . . . . . . . . . . . . . . . . . . .

00 • • 0 0 . 0 0 . . . . . . . . . . . . . . . . 0 0 . 0 0

0 ................................. 6

Housing Infrastructure .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. 7

00 . . . . . . . . . . . . . . . . . . .

D ................................. 2
D ....
3
0 ................................. 4
D ...
5
0
6
D ................................. 7

3

ooooooooooooooo

o ..................
o ......

Construction or Rehabilitation ofRentat Housing
Projects for Low or Moderate Income Families.................. 8
Acquisition of an Exempt Business that is in the .
Process of Closing its Operations in Puerto Rico ................. 9

D ............

1

ooooooooooooooooooooooooooooooooo

7

0 ................................. 9

00 . . . . . . . . . . . . . . . . . . . . . . . . . . .

0 ................................. 10 D

Total investment credit claimed in excess .......................................
Recapture of investment credit claimed in excess paid in previous year ......................................... .
Recapture of investment credit claimed in excess paid this year (Enter on Form 480.10 or 480.20,
Part ill, line 14. See instructions) .......................................................................................... .

4.

Excess of credit due next year, if applicable (Subtract line 2 and 3 from line 1. See instructions) ........ ; ..... .

00 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1. Credit for taxes paid to the United States, its possessions and foreign countries (Schedule C Corporation
and Partnership, Part N, line 7)
2. Credit for increase in investment (See instructions) ........................
3. Credit for investment in Capital Investment, Tourism, other funds, or direct investment (Submit Schedule Q) ........... .
oo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

oo• oo• . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4.
5.
6.
7.
8.
9.
10.
11.
12.

Credit attributable to losses in Capital Investment, Tourism or other funds (Submit Schedules Q and Ql) ............... .
Credit for Contribution to the Educational Foundation for Free Selection of Schools ........................
oo• . . . . . . . . . . . . . . .

Credit for alternative minimum tax paid in previous years (See instructions) ......

oo• •oo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Creditfor the purchase oftax credits (Complete Part IV) ...............................

0

00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..

0

Credit for investment Act No.362 of 1999:
Film Project and/or
Infrastructure Project ................. ..
Credit for investment in Housing Infrastructure .........
Credit for investment in the Construction of Rehabilitation ofRental Housing Projects for Low or
Moderate Income Families ............................................................................................................ ..
Credit to investors in an exempt business that is in the process of closing its operation in Puerto Rico ...
--r-------Credit for purchases of products manufactured in Puerto Rico and Puerto Rican agricultural products
(Submit Schedule B 1 Corporation and Partnership) ................................................................
Credit for contributions to Santa Catalina's Palace Patronage (See instructions) ....
Credits carried from previous years (Submit Details) ......................
(1
Other credits not included on the preceding lines (Submit detail) (See instructions) ...
(1
Total Tax Credits (Add lines 1 through 15) ......................................................
Total tax determined (Form 480.10 or480.20, Part ill, line 13) .................................
oo• . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . oo• . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

00 . . . . . . . . . .

.. . . ..

,-

00 . . . . . . . . . . . . . . .

13.
14.
15.
16.
17.

oo . . . . . . . . . . . . oo• . . . . . . . . . . . . . . . . . . . . . . . . . . .

00 . . . . . . . . . . . . . . .

oo• . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

00,

..

oo• . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

oo• . . . . . . . . . . . . . . . . . . oo• •oo . . . . . . . . . .

oo . . . . . . . . . . . . . . . . ooo ,

00

. . . . 00

,

00

•

18. Credit to be claimed (The smaller of line 16 or 17. Enter on Form 480.10 or 480.20, Part ill, line 15) .................. ..
19. Carryforward credits (Subtract line 18 from line 16. Submit detail) .......................................

oo• . . . . . . . . . . . . . . . . . . . . . (

Conscrvnt!on Period: Ten (10) yc.1rs

D
D

0
D

D

D ................................. 8 0
D ....
9 0

8

2.
3.

1.

D
D

Cornputer E~'Pert Group

Schedule B Corporation and Partnership- Page 2

I.
2.

~·

'

3.
4.

Tax paid with automatic extension of time ...................................................................................... .
Estimated tax payments for 2003 .................................................................................................. .
Tax paid in excess on previous years credited to the estimated tax ......................................................... ..
Tax withheld at ~ourcc .............................................................................................................. .

5.

Services rendered (Form 480.6B) .................................................................................................. .

6.

Tax withheld at source on distributable share to partners of special partnerships (Form 480.6SE) ..................... ..

7.

Tax withheld at source on eligible interest .................................................................................... ..

8.

Total Other Payments and Withholdings (Add lines 1 through 7. Enter on Form 480.10 or
480.20, Part III, line 22) ............................................................................................................ .

• •11!1!

Breakdown of the Purchase of Tax Credits

Check the block corresponding to the act (or acts) under which you acquired the credit and enter the amount:

0 Tourism Development .............................................................................................................. .
0 Solid Waste Disposal ............................................................................................................... .
O Agricultural Incentives .............................................................................................................. .
4. 0 Capital Investment Fund .......................................................................................................... ..
5. O Theatrical District ofSanturce ..................................................................................................... .
6. 0 Film Industry Development ........................................................................................................ .
7. O Housing Infrastructure .............................................................................................................. .
8. O Construction or Rehabilitation of Rental Housing Projects for Low or Moderate Income Families .................... .
9. 0 Acquisition of an Exempt Business that is in the Process of Closing its Operations in Puerto Rico ..................... .
10. 0 Other:
............................................................ .
1.

2.
3.

11. Total credit for the

nmmnR~P.

of tax credits (Same as Part n, line 7) ............................................................... .
Conservation Period: Ten (10) years

.-S-ch_e_d_u-le-T~C~o-rp_o_r_a-:ti-on--r--A-D~D:-I-::T-::I"':"O-N'"""T....,O":"""':'T-::H~E:-T-A-X-F-O____F':""A--IL~URE~R

and Partnership
Rev. 05.03

ESTIMATED TAX IN CASE OF
CORPORATIONS AND PARTNERSHIPS
Taxable year beginning on

01/01

2003

and ending on

12131

2003

2003
0
Employer's Identification Number

Taxpayer's Name

76-0235183

Petrobras America, Inc.

...-. Pm11 ;

TO PAY

~--------------------------------------------~---------------Estimated Tax Required

I. Tax liability (Add lines 13, 14, 17 and 19 of Part ill, page 1 of the return) .................................................... '''l--~~~¥:1!
2. Credits and overpayments (See instructions) ........................................................................................-,t-------;;:;'!'.'1
3. Estimated tax (Subtract line 2 from line 1. Ifit is zero, do not complete this Schedule) ..................................... ,-,t---=='-~~
Line I multiplied by 90% ............................................................................................................ .
Subtract line 2 from line 4 (If it is zero or less, enter zero) .................................................. :....................-,l---..~.~~=.....f.'~
Tax to be paid based on the income tax return from previous year (See instructions) .........................................-,1-------ffi%
Tax to be paid based on the income tax return from previous year determined according to the rates corresponding
to the current taxable year (See instructions) ...................................................................................... .
Enter the smaller of lines 5, 6 and 7 ................................................................................................. .

. Basis Period (See instructions) ........................................................... .
10. Enter the net income for each basis period .......................................... .
11. Divide line 10 between the number of months of the basis
period on line 9 . .. .. ... ....... .. ... .. ... .. ....... .. .. ........ ..... ... .. .. ........ .. .. .. .. . ... .. .. .. .
12. Net income placed on an annual basis (Multiply line 11 by 12) ........... .
13. Determine the normal tax on the net income placed on an
annual basis of line 12 (Line 12 by 20%) ............................................ .
14. Determine the surtax on the net income placed on an
annual basis of line 12 ......................................~ ................................. .
15. Determine the recapture on the net income placed on an
annual basis of line 12 .............. .... .... .. ... .. .. ............ ... ..... .. .. ... . . . . .. . .. . .. . . ..
16. Enter the recapture of investment credit claimed in
·
excess or others .... .. .. ... .. ............. .... .. ............... ...... .. .... . . . . . . . . . . .. . . . . . .. . ..
17. Determine the alternative minimum tax on the net income
placed on an annual basis ofline 12 ................................................... .
18. Total annual basis tax (Add lines 13 through 17) ............................... ..
19. Multiply line 18 by 90% ...................................................................... .
20. Enter the credits and other payments per period (See instructions)
21. Estimated Tax to be Paid (Subtract line 20 from line 19. If it is
less than zero, enter zero) .................................................................... .
. Add the amounts of all previous columns of line 29 (See
instructions) ................. ." ..................................................... .
23. Subtract line 22 from line 21 (If it is less than zero, enter zero) .......... .
24. Number of installments ........................................................ ..
25. Estimated Tax to be Paid per Installment Placing the Net
Income on an Annual Basis (Line 23 divided between line 24) .........

26. Subtract line 22 from line 8 ................................................... ..
27. Number of installments ......................................................... .
28.Line 26 divided between line 27 ............................................. ..
. Installment of Required Minimum Estimated Tax (Enter the
smaller of line 25 and line 28. Transfer to line 31 ........................ ..
Conservation Period: Ten (10) Years

Computer Expert Group

Rev. 05.03'

Schedule T Corporation and

(a)

0. Due date (See hi·iliiWti008)--------------~ First Installment
CALENDAR YEAR
FISCAL YEAR (Enter the corresponding dates) ................ .
1. Amount of minimum estimated tax per installment (If you
completed Section A and B of Part I, enter line 29. Otherwise,
see instructions) .............................................................. .
2. Amount of estimated tax paid per installments (Sec instructions)
3. Payment date (See instructions) ........................................ ..
4. Line 40 from previous column ............................................ ..
5. Add lines 32 and 34 ......................................................... .
6. Subtract line 31 from line 35 (If it is zero or less, enter zero) .... ..
7. Failure to Pay (Ifline 36 is zero, subtract line 35 from line 31.
Otherwise, enter zero) ...................................................... .
8. Add lines 37 and 39 from previous column ............................ .
9. If line 38 is equal or larger than line 36, subtract line 36 from
line 38 and go to line 34 of next column. Otherwise, go to line 40
0. Overpayment (If line 36 is larger than line 38, subtract line 38
from line 36, and go to line 34 of next column. Otherwise, enter
zero) ............................................................................ ..

(b)
Second Installment

(c)

Third Installment

·Page:

(d)
Fourth Installment

0
·0

Partm

to the Tax for Failure to Pay

I. Multiply line 37 by 20% (See instructions) .............................. ..
2. Number of days from the due date to the payment date (See
Instructions) ...................................................................... .
Line 42
365
X line 41 (See instructions) ................................ ..
4. Addition to the Tax for Failure to Pay (Add the amounts from
columns ofiine 43. Transfer to page 1, Part III, line 21 ofthe return)

3.

Part IV
Amount due and not paid
before the payment
(a)

_@_

365

Amount due and not paid
before the payment

_@_

365
(e)

(a)

20%by_@_

365

Conservation Period: Ten (10) Years

Computer Expert Gro11p

Form AS 2879
Rev.12.9o

Taxpayer's Name

Foreign Corporations and Partnerships
Tax on Dividend Equivalent Amount
and Effectively Connected interest
(Branch Profits Tax)
Employer Identification Number

Petrobras America. Inc.

76-0235183

NOTE TO THE TAXPAYER:
This schedule applies to foreign corporations and partnerships that derived less than 80 percent of
their combined total gross income, during the taxable year and the preceding two taxable years, from sources within Puerto Rico
or from income treated as effectively connected with the operation of a trade or business in Puerto Rico (see instructions). If the
corporation or partnership derived 80 percent or more of its combined total gross income as described here, do not complete this
schedule.

1. Enter regular income before any net operating Joss deduction (Income Tax Return Forms 480.1, 480.1 0,
480.2; 480.20, Part I, line 1 or Forms 480.3(11) and 480.30(11), Schedule P, line 17) ............................. (1)

2,060,892

oo

1--.;__-'--+-~

2.Additions:
a) Enter excess of flexible depreciation over straight-line depreciation ................. (2a>t------o-t-o_o-l
b) Exempt interest income under Section 1022(b)(4) of the Puerto Rico Internal
Revenue Code of 1994, as amended (Code), net of related expenses ............... (2b)l------o-+-o_o-l
c) Other addtitions (See Section 1119 of the Code):

< c)L-.._ _ _ _
o-~....o_o-l
2

3. Total additions. (Add lines 2(a) through 2(c)) ...................................................................................... < >1----o-+o_o-l
3
4. Deductions:
a) Taxes paid (Enter the sum of normal tax, surtax, and alternative minimum tax). (4a)t---803 74
_ _ ..:..•_ _7-I-O_o-l
b) Previous year Branch Profits Tax .................................................................... (4b}1------0-+-o_o-1
c) Enter interest deduction attributable to interest derived from exempt obligations
(Applicable to financial institutions only. See instructions).. ............................... (4 c)
o oo
d) Meals and entertainment (Non-deductible) ..................................................... (4 d)
o oo
e) Penalties ...................................................................................................... (4e)
0 00
f) Other deductions (See Section 1119 of the CodeL.......................................... (4 1)
0 00
5. Total deductions (Add lines 4(a) through 4(f)) .................................................................................... (5)

803,747 00

6. Effectively connected earnings and profits (Subtract line 5 from the sum of lines 1 and 3) ................. (S)

1,257,145 00

7. Enter Puerto Rico net equity at the end of the current taxable year .................................................... (7)

0 00

B. Enter Puerto Rico net equity at the end of the previous taxable year .................................................. (B)

0 00

9.lncrease/decrease in Puerto Rico net equity (Subtract line 8 from line 7. See instructions) .................. (s)

0 00

10.Dividend equivalent amount (Subtract line 9 from line 6. See instructions) ...................................... (1o)

1,257,145 00

11. Branch profits tax liability (Multiply line 10 by 10%) ........................................................................

(11)

125,715 00
Computer Expert Group

~

PETROBRAS AMERICA, INC.
ACCOUNT NO. 76-0235183

STATEMENT TO BE ATTACHED TO AND MADE PART OF THE
PR CORPORATION INCOME TAX RETURN
FOR THE YEAR ENDED DECEMBER 31, 2003

OTHER DEDUCTIONS
PAGE 2, PART V, LINE 47

Duties
Freight
Unloading Inspection Expenses
Storage
Bond Insurance
Outsourcing Work
Real Estate Rent Fees

$340,753
259,287
115,080
1,675,003
202,500
14,737
11,277

Telecommunication Services
Copies and Reproductions
Magazines and Newspapers
Other Miscellaneous Expenses

6,675
4,351
6,486
17,927

TOTAL

$2,654,076

dl

PETROBRAS AMERICA, INC.
ACCOUNT NO. 76-0235183

STATEMENT TO BE ATTACHED TO AND MADE PART OF THE
PR CORPORATION INCOME TAX RETURN
FOR THE YEAR ENDED DECEMBER 31, 2003

An examination of the financial statements of the company by an Independent Certified
Public accountant for the year ended December 31, 2003 is presently in process. Upon
completion of the examination, the required financial statements and the Accountant's
Report thereon will be submitted.

Assets
1. Cash on hand and in banks .............. .
2. Accounts receivable..................... ..
3. Less: Reserve for bad debts ............ .
4. Notes receivable ......................... .
5. Inventories ................................ .
6. Investments ................................ .
7. Depreciable assets ....................... .
8. Less: Reserve for depreciation ......... .
9.Land ....................................... ..
10. Other assets ................................ (10)
11. Total Assets ............................... (11)
Liabilities and Stockholder's Equity
Liabilities
12. Accounts payable ......................... ( 1 2 ) f - - - - - - - l m
13. Notes payable .............................. (13) 1-----.::-~m
Accrued expenses ......................... (14)1-----~-e~
15. Other liabilities............................ (IS)f-----...;;....-+.o:>.
16. Total Liabilities .......................... (16)
Stockholder's Equity
17. Capital Stock
(a) Prefered stocks ..................... (17a)f-----.::(b) Common stocks ..................... (17b) 1------=--8. Additional paid in capital ............... (18)1-------><....-,
19. Retained earnings ......................... (19)1----_..:..~
Reserve .. . ... .. . .. . .. . . .. .. . .. . .. . . .. .. . .. . (20)
. Total stockolder's Equity ............. (21)
Total Liabilities and Stockholder's

(22)

7. Income recorded on books this year not
1. Net income (or loss) per books ........... .
included on this return (Itemize, use
2. Income tax ................................. ..
schedule if necessary)
3. Excess of capital losses over capital
(a) Exempt interest
o
gains........................................... ,-,l-------ffirn
4. Taxable income not recorded on
(b)
0
books this year (Itemize)
00
0
(d)
0
o
(a)
Total. ............................................... ..
(b)
0
8. Deductions on this tax return not charged
(c)
o
against book income this year (Itemize,
(d)
0
use schedule if necessary)
Total.. ....................................... .
(a)Depreciation
o
5. Expenses recorded on books this year
(b)
0
not claimed on this return (Itemize,
use schedule if necessary)
(c)
o
(a) Meal and entertainment (amount
(d)
0
Total ............................................... .
not claimed)
o
9. Total (Add lines 7 and 8)...................... .
(b) Depreciation
o
(c)
o
10. Net taxable income (or loss) per return
(d)
0
(Subtract line 9 from line fi) ..................... (1
Total.......................................... (5),__ _ _ __
6. Total (Add lines 1 through 5) .......... ..
(a) Cash ........................... ..
(b) Property ........................ ,__,, _ _ _ _ _ _...::.....~
1
(c) Stocks .......................... .
Other decreases (Use schedule if necessary) ...... .
. Total (Add lines 5 and 6) ............................ ..
1 - - - - - - - + ; a s . Balance at end of year (Subtract line 7 from
4. Total (Add lines 1, 2 and 3) ................ (4)
line4) ................................................... .
Period: Ten (10) years

Social security number

Name of officer

Percentage oftime
devoted to
industry or business

Percentage of stocks owned
Compensation

0

0

0
0
0
Total compensation to officers (Enter in Part V,line 21)

1. If a foreign corporation, indicate if the trade or business in
Puerto Rico was held as a branch .................................... ..

0

lfl§)Eti ~10. Did the corporation claim a. deduction for expenses connected
with:

2. If a. branch, what ~ represents the income from sources
within Puerto Rico from the total income of the corporation?

(a) Vessels? ....................... , .................................... ..
(b) Living expenses? ................................................... ..
(c) Employees attending conventions or meetings outside Puerto
Rico or the United States? ........ , .. , ............................... .

3. Is the corporation under Section 936 ofthe Federal Internal
Revenue Code? ..... , .. , .................... , .......................... .
4. Did the corporation keep any part of its records on a
computerized system during this year? .............................. ..

11. Did the corporation distribute dividends other than stock
dividends or distributions in liquidation in excess of the
corporation's current and accumulated earnings? .. . ... .. . .. . .. • .. • .. . . (I

5. The corporation's books are in care of:
Name
Address

The Corporation
10777 Westheimer Road, Suite 1200
Houston
TX
77042
6. Indicate the accounting method used for book (tax) purposes:

0

0

Cash
Other (specifY):

12. Is the corporation a partner in any special partnership? ............... .
Name ofthe special partnership
Employers identification number
13. Is the corporation n member of a controlled group? .................... (I
14. Entertlte amount of exempt interest:
0

IXJ Accrual

7. Did the corporation file the following documents?:
(a) Informative Return (Form 480.5, 480.6A, 480.6B) ..... , ..... .
(b) Withholding Statement (Form 499 R-2fW-2PR) .............. .
8. If the gross income exceeds ~ 1,000,000, are financial
statements audited by a CPA licensed in Puerto Rico included

.

15. Enter the amount corresponding to charitable contributions to
municipalities included in Part V, line 43:
16. Indicate if insurance premiums were paid by an
unauthorized insurer ........ , .............. , .......................... .
17. Employer's number assigned by the Department ofLabor and

with this return? .. • ..... · .. · .. · .. · .. • .. · .. · .. • .. • .. · .. · .. · .. · .. • .. · .. · ·
We, the undersigned, president (or vice-president, or other principal officer) and treasurer (or assistant treasurer), or agent of the corporation
for which this income tax return is made, each for himself declare under penalty of perjury, that this return (including schedules
and statements attached) has been examined by us, and to the best of our knowledge and belief, is a true, correct, and complete return, made in
good faith, pursuant to the Puerto Rico Internal Reve~amended, and the Regulations here

-

Agent

~Title ':ithe person administering oath
I declare under penalty ofperjury that this return (including schedules and statements attached) has been examined by me, and to the best of my lmowledge
and belief is a true, correc~ and complete return. The declaration ofthe person who prepares this return is with respect to the infonnation received and this
be verified

PR
Ccm1puter 1:).-prrt Group

M odtSio SC 2644
Form AS
Rev.12.03

ESTADO LIBRE ASOCIADO DE PUERTO RICO· COMMONWEALTH OF PUERTO RICO
Departamento de Hacienda· Department of the TreasU{Y
DE PRORROGA PARA RENDJR LA PLANILLA DE CONTRIBUCION SOBRE JNGRESOS
Request for Extension of Time to File the Income Tax Return
Afio comlenza el_ de _ _ _ de_ y termlna el_ de _ _ _ de_
Year beginning on

01/01

of~ and ending on ~ of

1Q93

P;arte • Part 1: Informacion del Contribuyente -Taxpayer's Information
Numero de Seguro Social

Numero de ldentificacl6n Patronal

Social Security Number

Employer's Identification Number

DOD DDDDDD
Nornbre del !nd!vlduo
Individual First Name

!n!c!al
lnlflal

Apellldo Paterno
Last Name

Ape!Jido Materna
Second Last Name

Nombre de Ia Corporacl6n, Soc!edad, SucesJ6n o Fldelcomlso •

Corporation, Partnership, Estate or Trust Name

Petrobras America Inc.
D!recci6n Postal- Poslal Address
10777 Westhelmer Road, Suite 1200
Telefono Res!denc!a
Residence Telephone

Code 77042
Telefono otlclna
Office Telephone

Ocupacl6n/Negoclo
Occupation/Business

DDDDDODDDD

Unfinished Crude Oil Importer

Parte- Part II: lnformaci6n del (de los) Patronos(s) para quien(es) Trabaj Information of the Employer(s) for whom you Work
Nombre del Patrono • Employer's Name

Direccl6n- Address

Nombre del Patrono • Employer's Name

C6dlgo Postal- Zip Code
Dlrecc!6n ·Address

1.

~umero de Jdentlficacl6n Patronal- Employer's Identification Number

DDDDCDDDD
Numero de ldentlf!cacl6n Patronal- Employer's Identification Number

C6d!go Postal - Zip Code

2.

Parte- Part Ill: Jngresos Income

DDDDCDDDD
ODD DOD DO~ @]@]
ODD ODD
fQlfQl
L:::JLJ
DOD ODD DO~ 00

1. lngreso seglln Comprobantes de Retencl6n o lngreso Estlmado ........................................................
Income as per Withholding Statement or Estimated Income

2. otros lngresos ...............................................................................................................
Other Income

DO~

3. Total de lngreso Brute ......................................................................................................
Total Gross Income

Parte- Part IV: 1m porte Jncluido con esta Solicitud Amount Included with this Request
1. Balance Pendlente de Page·· ............. •••••••••••••••••••• .......... ••• ..................................................
Balance of Tax Due

2. Contrlbuclon Adlcional Especial (Anejo N Jncentlvos) ...................................... (CIFRA DE JNGRESO 0215)
Special Surfax (Schedule N Jncenlives}
3. Prepago dellmpuesto sobre Repatrlaci6n (Formu!arlo 480.3(11), Parte IV) ................. (CIFRA DE INGRESO 0242)
Prepayment of Tollgate Ta« (Form 480.30(10, Parte IV)
4. Contribucl6n sabre lngresos Opclonal para Negocios Exentos (Anejos 0 lncentlvos) •••• (CIFRA DE INGRESO 0213)
Optional Income Tax for Exempt Business (Schedule 0 Incentive}

VEASE AL DORSO • SEE ON BACK

DDQJ ~~~ ~~~ ~~
DOD DOD DO~ 0~
DUD ODD DO~ 0~
ODD DOD DO~ 0~
Computer Expert Group

,, .
··Modele SC 2644, Rev 12.03 • Pagina 2

Solicitud de Pr6rroga Automatica- Request for Automatic Extension of Time
Clase de contribuyente • Type of taxpayer

0

D

1. lndlvlduo • Individual

0

4. Corporation • Corporation

D

0
D
0

0

2. sucessi6n - Estate

5. Corporaci6n bajo el Programa de Incentives
Contributlvos de Puerto Rico • Corporation under Ihe Puerto
Rico Tax incentives Program

0
0

D
0

s. Corporaci6n Especial Pro pled ad de Trabajadores •
Employees - OWned Special Corporation
7. Corporaci6n de lndlviduos- Subchapter N Corporation

3. Fidelcomiso - Trust

8. Sociedad - Partnership

9. socledad bajo el Programa de Incentives Contribulivos de Puerto Rico
Partnership under the Puerto Rico Tax Incentives Program

10. Socledad Especial- Special Partnership
11. Organlzacl6n Sin Fines de Lueras- Non Profit organization

12. Corporacl6n o Socledad acoglda a Ia Seccl6n 936 del C6dlgo de Rentas lnternas Federal
Corporalfon or partnership that has an eleclfon under Seclfon 936 of the federallnternal Revenue
Code

Solicitud de Pr6rroga Adicional - Request for Additional Extension of Time
Clase de contribuyente -Type of taxpayer

D

D

1. individuo -Individual

2. Sucessl6n - Estate

D

3. Fidelcomiso- Trust

Razones - Reasons
The information necessary to prepare the Income Tax Return will not be available by Apri115, 2004.

Juramenta- Oath
Declare bajo penalidad de perjurlo, que Ia informacion aqui sumfnlstrada ha sldo examlnada per mi y que segun ml mejor Informacion y creencla es
clerta, correcta y completa.
I hereby declare under penally of prejury, !hat this information has been examined by me and to lhe be

-

/ /'c cl,.·

n9

t:h r:.: a

__j)Uio·TIIIe

cy·RA

..J

Fecha -Date
Firma del representante autorlzado
Signature of the duly authorized agent
Dlreccl6n del representante autorlzado ·Address of duly authorized agent

P.O. Box 363566

Computer Expert Group

Vendor :1004466

Document :2000001426 Date: 04/15/2004

Your Reference·

Our Reference

Date

INV# 04152004 A

1900001418

04/15/2004

Gross amount

1,045,000.00

PUERTO RICO EST. TAX PMT. 2003 WITH EXTENSION
Sum. total

1;045,000.00

',

•

~-I

•

•

•

•

- - • • • - • • 1 1'-'1

J

'-''-AI~ •._, I &-.'\.IV

Houston, Texas 77042

~1/W ; ftMG Deft.

~--

- -

- - - - - -

-----;:>'

+

~ • Cpmplete iterijs 1~ 2, and 3. Also complete
'
item ~ if R~tricted Delivery is desired.
• Print your name and address on the reverse
so that we can return the card to you.
• Atta~h this card to the back of the mailpiece, ·
or on the front if space permits.

!mJ4?

addressJ:Ii1fgtent ®m
.. enter delivery address below:

• 1. Article Addressed to·:

I
l
1

•

u

J

. ...

..

•

0

~ ~ 'F

l

~ .
!
/':Department of-·the___Treasury
.,· ~ ~1
1 t1
~ rr~~· ~-.. - ~.,_rp t·1{~
\~. ~~'!1.AA"" ;'\, ,-,' J l
!\Bureau of Returns Processing
j
~ ....~..... ftERi\1/J,:>li!r. ~·"· -;:._A..<.j I)
-- ·- ~~·•o.>o
~P 0 . Box 9022501
·
··---,
.._....._..,,.......,.
~!·S~n. Juan, Puerto Rico 00902~25~--~l:jip<i'.-iceType

~It;.~

1\f

·

~~

h ·. . .
:t'

:J
:::1
:::1

.:::ro03

postmark
Here

0 Registered
0

Insured Mail

. . .

.

· P~ Form

3811, July 1999

Express Mail

0

C.O.D.
DYes

.'

':
:i

7003 3110 0004, ·5310 1::.3'21

r-'1
r-'1

0

~tum Receipt for Merchandise

4. Restricted Delivery? (Extra Fee)

2• ...A..>~ur.nbor...ICaou.f.tatiLSe/Jlk;eJabSJ.

2oo31nt.7Df

Cl

·
.
P· R. :Jj1 ~ • iz:t)<

~ertified Mail

..~
i

!~

i

DomeStiCRefumHecelpt

102595·00·M·0952

rn

~:;;:~::::~~~::!!~~~~~:;i!llilim~;:~~~
-

C. Signature

X

--

-

_,_ """"""'""';:;'"""
.__ If YES, enter

1. Article Addressed t()~

...
..!
Department of the Treasury
Bureau of-Returns Processing
P. 0 •. Box 90225-!Jl
San Juan, Puerto Rico 00902-2_501~r·· ce ,ype
" ·

.

.xo03
2.

1\..4;---.1.,..

p. R. 1fi ~ • ~

1\JurnN:u• tr.nov

0

r-z

D Express Mail
,....,_,.;,
~etum Receipt for Merchandise

Insured Mail

0

C.O.D •

Restricted Delivery? (Extra Fee)

0 Yes

from service /abeQ

7003 3110 0004 5310 6321
PS Form

item 17

b-

T.

.. . ~- ertified Mail
D Registered

.

""'~

dmerernfrom

3811, July 1999

102595-00·M.Q952

Domestic Return Receipt

·----------- -------------···------ -~-

----------·--·- -------------------------------

·-

200_4_

200_4_
Corporation Income Tax Return
01/01

I

Employe~s

2004

Identification Number

Postal Address
10777 Weslheimer Road, Suite 1200
Houston, TX

10. Amount of recaplure (See insiructions) ................................ , ........ , ....................................... ,................ .
11. Total Tax (Add lines 8 through 10) ......................................................................................................
12. AlternatiVe Tax- Capital Gains (ScheduleD Corporation and Partnership, Part VII, line 54) .............................................
13. Tax Determined (Una 11 or 12, whichever is smaller) ...................................................................................
14. Recapture of credit claimed in excess (Schedule B Corporation and Partnership, Part I, line 3) ... . .. .... .. ... .. . ... ... .. • ••• .. • ... ... ... (l 4) 1 - - - - - - - - " - 1 " ' * 1
15. Tax credits (Schedule B Corporation and Partnership, Partll,llne24) ... ... ... ... ... ...... ... ... ...... ... ... ...... ...... ... ......... ... (15)
16. Tax liability before alternative minimum tax (Sublraclline 15 from lhe sum of lines 13 and 14) ... ... ... ... ... ... •.• ... ... ... ... ... ...
1--------=--!ai
17. Alternative minimum tax (Schedule A Corporation and Partnership, Part V, line 33) ......................................................
18. Branch profits tax (Fonn AS 2879, line 11) ........ , ..................................................................................... .
19. Tax on eligible interest (See insiructlons) .................................................................................................
20. Total Tax Liability (Add lines 16 through 19) ............................................................................................
21. Addition to theTax for Failure to Pay Estimated Tax (Schedule T Corporation and Partnership,
Part Ill, line 46) ....................... , ........................................ ,.... ...... ... ...... ... ... ... ... .. • ... ... ... ...... .. . ... ... (21) 1 - - - - - - - + . e . t
Less: other Payments and Withholdlngs (Schedule B Corporation and.Parlnership, Pari Ill, lineS) ... ...... ... ... ... ... ... ... ... ... (22)1-------'---'=t
23. Balance of tax due (If the sum of lines 20 and 21 is larger than line 22, en1er the difference here,
otheiWise, on line 25)

a) Tax ..... , ............................................................... ..
b) Interest ................................................................ ..

c) Surcharges ...............................................................

d) Total (Add lines 23(a) through 23(c)) ... ... ... ... ... ... ... ... ••• ... ... ... ... ... ... ...... ... ... ... ... ... ... (230)1--------=--fi\3
24. Amount paid with this return .............................................................................................................. (24)1------_...:~~Amount overpaid (If the sum of lines 20 and 21 is smaller than line 22, distribute the difference between
line A orB):
A To be cred~ed to estimated tax for 2005 .......................................................................... , ..... .
B. To be refunded .......................................................................................................... .
ConscrvaUon Period: Ten (101 year.~

Computer Expert Group

Corporation • Page 2
48~.20 Rev..•S.n4
76-0235183 - Petrobras America. Inc.• Puerto Rico Ooeratlons
1. Net sales .. ... ... ... ... ... ... ... ... ... ... ... ..
. ......... .:. ........................... ... G).............
{1)
241,227,163 00
Less: Cost of goods sold or direct costs of pr•. ..• lion
1----...:._...:......_1--..:f
2. Inventory at the beginning of the year
0 "C"
0 "C" or 'MV"
(a) Materials ........................................................................ (2a) 1-----_..:0~.··;::::00"'!.:
(b) Goo ds . process ... .. . ... .. . .. . .. . .. . ... .. . .. . .. . .. . .. . .. . .. . .. . ... ... ... .. . .. . (2bJ 1-----....::..#H
o .•·.a.·.O.
1n
(c) Finished goods or merchandise................................................. (2c) l---1""0~::.53::.!7.t::0~05 ,=.b0;;,;j·
4 .
3. Purchase of materials or merchandise.. .. . .. . .. . ... .. . .. . ... ... .. . .. . .. . ... ... ... .. . .. . (3) I--....!:!23:.;!41.!,;73~6~8:::.:48 •,=.'00H•
4
4. Direct wages .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . ... .. .. .. .. . .. . .. . ... .. . . .. .. . ... .. . .. . .. (4) 1-------'o:.....r'""OO"'-~·•
5. Other direct costs (Detail in Part VI)... .. . .. . .. . .. . .. . ... .. . ... .. . .. . ... . .. .. . .. . ... .. . .. (SJ t---------'0""-+•""''00~::
6. Total cost of goods available for sale (Add lines 2 througb.5}.. ... ... .. . ... ... ... ... .. . (6) t---2_45..:..,2_73..:..,8_53-+·'-"oo~··•
7. Less: Inventory at the end of the year
"C'
"C" or "MV"
·.·.:·.,
(a} Materials .. . .. . ... .. . ... ... . .. .. . .. . .. . .. . .. . ... .. . (7aJ
o • oo•. •
(b) Goods in process .. . .. . ... .. . .. . .. . .. . .. . .. . .. . .. . (7bJ
o ' 00:
(c) Finished goods or merchandise...... ... .... .. .. . (7c)
12 003 054 • oo
.•
12,003,054 W
233,270,799 do::,
8. Gross profit on sales or production (Subtract the result of line 6less line 7, from line 1) ... ... ... ... ... ... ... ... ... ... ... ... ... ... .. . ... ... ... (BJI---'7.:..:.,9..:..56;.!,;,3:..::.6..:..4+''~·Pa;;:;.•.i"-1.:
9. Net capital gain (Schedule D Corporation and Partnership, Part VI, line 30) .. . .. . .. . .. . .. . ... .. . .. . .. . .. . ... ... ... .. . .. . .. . .. . .. . ... .. . .. . ... (9)1------:.o-F:..:o..._oH::,:,
10. Net gain (or loss) from the sale of property other than capital assets (ScheduleD Corp. and Pari., Part VIII, line 55)... .. . .. . ...... .. .. .. ... .. . . (10)1-----...:..0+}:P:;:O''"'-J:'::
11. Rent ............................................................................................................................................... (11Jt----....,o-F;.o7
o""~(
12. Interest............... ... ... ... ... .. . ... ... ... ... ... ... .. . ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... .. . ... . .. ... . (12Jt----...:.o-+:;:;to:::,:O•;;,;.~:
13. Commissions..................... ... .. . ... ... ... ... .. . ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... (13Jf-____o 0::g•po:;;,.}'iJ;
4
14. Dividends from corporations and profits from partnerships: (a) Domestic
0 (b) Foreign
0
(14)1------=-0+.hD;;:.P'-':'1.\
15. Distributable share on net income from special partnerships (Schedule R, Part II, line 8) ... . .. ... ..• ... ... ... •.. ... •.. ... ... ... ... ... ... ... (15Jt----...:o+•::;-o+-}l•H:::
16. Distributable share on net losses from special partnertships (ScheduleR, Part II, line 13) ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... (16Jt----...:o-+c:=•o~o:,>
17. Taxable forming profit (ScheduleS Corporation and Partnerships, Part I, line 9) ... ... ... ... ...... ... ... ... ... ... ... ... ... ... ...... ...... .... (17Jt-_ _ _...:o+.·,:o~o·;..;.~·
18. Freight and fares ................................................................................................................................. (18Jt----....:o4!'-::0~0-"~·::·
19. Miscellaneous income........................... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... . .. ... ... ... ... ... ... ... ... ... . .. ... . .. . .. ... ... ... (19Jt-_ _ _.....,.o.,·:,:::··:,p~o.
.,:"
20. Total gross Income (Add lines 8 through 19) ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... (20)
7,956,364 :)00>
21. Compensation to officers (See instructions for Part X) .. . .. . ... .. . ... . .. ... .. . ... .. . ... .. . .. . .. . .. . ... .. . .. . .. . ... (21)
o 00 •
22. Salaries, commissions and bonuses to employees... ... ... .. . .. . ... .. . .. . .. . ... ... .. . .. . ... .. . .. . .. . ... ... ... .. . . (22)
138 004 •!XJ>
23. Commissions to businesses .. . .. . .. . . .. ... . .. .. . .. . ... ... ... .. . .. . ... .. . .. . .. . .. . .. . ... ... .. . .. . .. . .. . .. . .. . .. . .. . . (23)
o /oo::
24. Social security tax (FICA)... .. . .. . ... ... ... . .. .. .. .. .. .... .. .... ... .. . ... .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . ... . (24)
9354 :::oo::
25. Unemployment tax .. . .. . .. . .. . .. . ... .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . ... .. . ... ... .. . .. . .. . .. .. .. .. . .. . .. . .. . .. . ... .. . .. (25)
404 . :·OP:.:
26. State Insurance Fund premiums ................................................................................... (26)
325 .•bll'
27. Medical or hospitalization insurance ............................................................................... (27)
24 606 :&:
28. Insurances .. . .. . .. . .. . . .. .. . ... .. . ... .. . ... .. . .. . .. .. .. .. . ... .. . .. . ... ... .. . .. . .. . ... ... .. . .. . ... .. . .. . ... ... ... .. .. (28)
15190 ·:::ob'·:
29. Interest (See instructions) ... .. . ... ... ... ... .. . ... ... ... .. . ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... (29)
o 'jJO;
30. Rent .............................................................................
(30)
14180 ·:::p.O\
31. Property tax: (a) Personal
o
(b) Real
o ... .. . .. . .. . ... .. . .. . ... ... .. . .. . .. . ... .. . . (31)
o )QQ
32. Other taxes, patents and licenses (See instructions) .............................................................. (32l
o ·do:
> 33. Losses from fire, storm, other casualties or theft .................................................................. (33)
0 •do:
~ 34. Motor vehicle expenses... .. .. .. .. . .. . .. .. .. .. .. .. .. . .. . ... ... .... .. .. . ... ... .. . .. . ... ... .. . .. . .. . ... .. . .. . .. . .. . ... (34)
203 ·.PO'•
c.. 35. Meal and entertainment expenses (Total
2,272 ) (See instructions) ............................ (35)
1136 ::j'o.o:
36. Travel expenses ... ... .. . ... ... ... ... .. . .. . ... ... ... ... ... ... ... ... ... ... ... ... ... ... .. . ... ... ... ... ... ... ... ... ... . (36)
14 345 '.:.eo:
37. Professional services ... ...... .. . ... ... ... ... ... ... ... .. . ... ... ... ... ... ... ... ... ... ... ... .. . .. . ... ... ... .. . ... ... .. (37)
97 742 . '0.o'i
38. Contributions to pensions or other qualified plans (See instructions) ... ... ... ... ... .. . ... ... ... ... ... ... ... ... ... (38)
1425 .oo:•
39. Flexible depreciation (See instructions. Submit Schedule E) ... ... .. . ... .. . .. . .. . .. . .. . .. . .. . .. . ... ... .. . .. . .. . ... (39)
o DO,
40. Accelerated depreciation (See instructions. Submit Schedule E) ................................................. (40)
o .00•
41. Current depreciation and amortization (See instructions. Submit Schedde E) ................................... (41)
o 00·
42. Bad debts (See instructions) .. . .. . .. . ... .. . .. . ... .. . ... ... .. . .. . ... ... .. . ... .. . ... .. . .. . .. . ... .. . .. . .. . .. . .. . ... .. . . (42)
0 oo,:
43. Charitable contributions (See instructions) .. . .. . ... .. . ... .. . .. . .. . ... .. . .. . .. . .. . .. . .. . ... .. . .. . .. . .. . .. . ... ... .. . . (43)
0 00:
44. Repairs (See instructions) .. . .. . .. . .. . .. . .. . .. . .. . ... .. . ... ... .. . .. . .. . ... .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . ... ... ... .. . (44)
o , oo'
45. Deduction for employers who employ handicapped persons (See instructions) .................................. (45)
0 ' oo,:
46. Contributions to educational contribution accounts for the employees' beneficiaries (See instructions) ... ... ... (46J
0 {),0:
47. Other deductions (See instructions) ................................................................................ (47)
8 687 544 .o.o·
48. Total deductions (Add lines 21 through 47) .................................................................................................. (48) t---"9,:.:..01:..:.;0,:.:..45:..::.8-+-·o.;.;;o:-1
49. Net operating income (or loss) for the year (Subtract line 48 from line 20. Enter here and in Part I, line 1) .............................. (49)
11.054.0941 oa
Item
@)
Amount
Item
Amount
1.Salaries,wagesandbonuses .................... (1)
o :oo. 8.Repairs ................................................ (8Jt-----:-o-t·~.o~o.,,.,.:
2. Social security tax (FICA) ... ... .. . ... ... ... .. . .. (2)
0 : 00. 9. Utilities ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... (9)1----~0-+-!':·0!l.!.O-I
..
> 3. unemp 1
o : 00 1D. Flexible depreciation (Submit Schedule E)... .. . .. . .. (10)1------=-o-I.~O~D-1
oymen t tax ............................. . (3)
t
4 st t 1
F d
·
(4)
o ,ao·11.Accelerateddeprecia!ion(SubmitScheduleE) ....... (11)1-----"'o-1:~0~0-1
~
. a e nsurance un premiums................
. 12 C
td
. t' (S b 't s h d E)
, )
0 oo··.
(5J
urren eprecia iOn u mi c e u1 ..
.. 12
0 00 13.. Other expenses (Submit detail).. .... ..e... .......... .... .... (13) 1----~--h.l<!L..I
5. Med'Ica1or hosp1.1 r rIon .
a Iza
Insurance .. .. .. .. .. .
..
o : 00
0 · 00· 14. Total other direct costs (Add lines 1 through 13. Same t-----"-.;:-:~
6. Other insurance................................. · (6
)
7. Excise taxes ........
(7)
o 00 .
as Part IV, line 5) ...... ...... .... .. .. .... .. .... ....... (14)
o 00 ·
Form

D

0

00 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 . .

00.. . . . . . .

. . . . ..

.... ..

. . . . ..

Conservallon Period: Ten (10) years

Computer Expert Group

Schedule A Corporation
and Partnership

Rev. 05-0 4

200 4

ALTERNATIVE MINIMUM TAX
Taxabe year beginning on

01/01

, 2004 and ending on

12/31

~004

Employe~s

Taxpayer's Name

Identification Number

76-0235183
Petrobras America, Inc. • Puerto Rico Operations
Part I
Adjustments In the Computation of the Alternative Minimum Net Income Before Books Adjustments and Operating Losses
1. Net income subject to normal tax without considering net operating loss from preceding years and excluding the
net capital gain that you had elected to pay taxes at the special rates (See instructioFJS)· ............................... 'i-':.:.."·:. .:.·:. .:.·.:.:..":.:..'':.:..":.:..··:.:..··:.:..·--r:~14----.l..:.(1!:,0.:..54:!.:,0::9:.:J.4)-l:~ao~.:~
2. Adjustments:
a. Flexible depreciation ... ... ... ... .. . .. . .. . ... .. . .. . ... ... ... ... ... .. . ... ... ... ... ... ... ... .. (2a)
0 =oO:
b. Installment sales ... .. . . .. ... .. . .. . ... ... .. . .. . .. . ... .. . ... . .. ... ... ... ... .. . ... ... .. . ... ... . (2b)
0 :.o.o/'
c. Long-term contracts •.. ... ... .. . ... ... ... ... . .. ... ... ... ... .. . .. . .. . ... ... ... ... .. . .. . ... ... . (2c)
0 :.OJt
d. Expenses related with exempt interest .. . •.. ... ... ... .. . .. . ... .. . ... ... ... ... .. . .. . ... . .• . (2d)
0 lUO)
e. Accelerated depreciation ... ... ... .. . •.. ... ... ... .. . ... ... ... ... ... ... ... ... .. . .. . .. . ... ... . (2e)
0 ::0.0;;
f. Total adjustments (Add lines 2(a) through 2(e) ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... .. . ... ... ... (2Q 1------+'.;·llO.:.;,t':
3. Alternative minimum net income before the adjustments of Part II and the operating loss (Add lines 1 and 2(Q) .. ....... ...... ...... ...... ... (3)
(1,054,094) :bir'
Part II
Adjustments for the Excess of the Net Income per Books over the Alternative Minimum Net Income Before Adjustments
Net income (or loss) per books ... ... ... ... ... ... .. . ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... (4) ~--..:.(1..:.,0_5..:.5,2_4..:.9)+~-:;;.;0o;:;;J:i
Goodwill amortization expense.................................................................................... (5)1-----~o+;-~oo;..,.!·:··
Income tax expense per books ... ... ... ... ... ... ... ... ... ... ... ...... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... (6) L.....-----...l:-'0:::(}.:1-:- - - - - - - r d
Add lines 4, 5 and 6 .. . .. . ... ... ... .. . ... ... .. . .. . .. . .. . ... ... ... ... .. . .. . .. . ... .. . .. . ... ... .. . ... ... ... ... ... .. . ..
{7)
Exemptinterest income net of related expenses ... .. . .. . .. . .. . ... .. . .. . ... ... .. . .. . ... ... ... .. . .. . ... .. . .. .. .. .. (8) 1-----....:o::.....f:oo::···~:'
Dividends and profit distributions received .from domestic corporations or
:: ···
partnerships, or from industrial or tourism development income ... .. . .. . .. . ... .. . ... .. . .. . ... .. . .. . ... ... ... .. . . (9)
o iM.:
10. Industrial development income. exempt tourism development income or bona fide
··· ·..
agricultural business income...... .. . .. . ... .. . ... .. . .. . ... .. . .. . ... ... ... ... ... .. . ... .. . ... .. . ... ... .. . .. . .. . .. . .. . (10)
roil
4.
5.
6.
7.
8.
9.

11. Income (or loss) recognized under the equity method ... .. . .. . ... .. . ... .. . .. .... ... .. . .. .... .. .. .. .. . .. .. .. ... ... {11)
12. Reserve for catastrophic losses ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... .. . ... ... ... ... ... .. (12)

o ~00'
o ·oo.·

13. Net long-term capital gain (See instructions) ... ... ... .. . ... ... ... ... ... .. .... ... ... .. . .. . ... ... ... ... ... ... ... ... (13)
0 00·
14. Add lines 8 through 13 ........................................................................................................................... (14) 1------o-+""'oa'"-~':
15. Subtract line 14 from line 7 ....................................................................................................................... (15)
16. Subtract line 3 from line 15.1f line 3 is larger than line 15, enter zero .......................................................................... (16)
17. Adjustment for the excess of the adjusted net income per books over the alternative minimum net income of line
3 (Multiply line 16 by 50%) ........................................................................................................................ (17)

Part Ill

_"i)_Q''

0 00:;

Com utation of the Alternative Minimum Net Income

'
18. Alterna t. mm1mum ne t.mcome be.ore th e net operat'mg Iass (Add I'1nes 3 an d 17) ... ... .. . ... .. . .. . ... ... ... .. . .. . ... ... .. . .. . .. . ... .. . ... .
1ve . .
19. Net operating loss to determine the alternative minimum tax (See instructions) ................................................................
20. Subtract line 19 from line 18 (Enter here the difference, but not less than 10% of line 18) .. . ... ... ... .. . ... . .. ... ... ... .. . .. . ... .. . ... ... .. . .
ms
21 . Ex emp t amoun t (s ee · truc t·1onsl ... .. . ... .. . .. . . .. ... .. . .. . .. . ... .. . ... .. . .. . .. . .. . ... ... .. . .. . .. .. .. .. . .. . .. . .. . .. . .. . .. . .. . .. . ... .. . .. . .. . ...
22. Alternative minimum net income (Subtract line 21 from line 20) .. . ... ... .. . .. . ... . .. .. . . .. ... .. . .. . ... .. . ... .. . .. . ... .. . .. . ... .. . .. . .. . .. . .. . ..

Part IV

(1,055,249)

1------4~

t------o:....r'"-'oo,·::

(18) 1 - - -(1,054,094) e_._t
- - - - t :.:o.\o·. :'.·
(19) 1------"-o-+•
.,_:oo""~,
(20) 1----~=-o+:·~bO:i'
(21) 1----.:..~.:....r:=,=-.J
5o,ooo ,o·o:
(22)

o •Oo::

Computation of the Alternative Minimum Credit for Foreign Taxes Paid

·oo:

23. Tentative minimum tax (Multiply line 22 by 22"/o) .. . ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... .. . ... ... ... ... ... ... ... ... ... ... ... ... (23)
o
24. Alternative minimum net income before net operating loss deduction (Line 18) .. . ... .. . .. . ... ... .. . .. . . .. .. . .. . (24)
0 ;do
25. Allowable exempt amount without considering the net operating loss (See instructions) . .. ... ... .. .. .. .. . .. . .. . (25)
o :oo:
26. Subtract line 25 from line 24 ... .. . .. . ... .. . ... . .. .. . .. . .. . .. . ... .. . .. . ... ... ... .. . ... ... .. . .. . .. . ... .. . .. . .. . .. . .. . (26)
0 00
27. Multiply line 26 by 22"/o .. . ... ... ... ... ... ... .. . .. . ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... .. (27)
0 :00:.
0 00:'
28. Multiply line 27 by 10% ........................................................................................................................... (28) 1--------+-==t
0 00·
29. Credit limitation (Subtract line 28 from line 23) .. . .. . ... ... .. . .. . .. . .. . .. . ... ... .. . ... .. . ... .. . ... .. . .. . .. . .. . .. • .. . .. . .. . ... .. . .. . .. . ... .. . .. . .. (29) 1-----.:....r~
30. Alternative minimum credit for foreign taxes paid (This amount cannot exceed the amount on line 29.
0 ::QO•'
See instructions ................................................................................................................................. ·(30)
PartV
Computation of the Alternative Minimum Tax
0 ·"00'
31. Tentative minimum tax (Subtract line 30 fi'om line 23) ........................................................................................... (31) 1------+~
0 00'.
32. Adjusted regular tax (See instructions) ........................................................................................................... {32) J-------+"-""1
33. Alternative minimum tax (Subtract line 32 from line 31. If line 32 is larger than line 31, enter zero, otherwise, enter the difference
0 00'
on Form 480.10 or 480.20, Part Ill, line 17 ...................................................................................................... (33)
ConseiVallon Period: Ten (1 0) years

Computer Expert Group

Schedule 8 Corporation
os.o4 and Partnership

Rev.

L_..;APTURE CREDIT CLAIMED IN EXCESb,
TAX CREDITS, AND
OTHER PAYMENTS AND WITH HOLDINGS
Taxabe year beginning on

01/01

ending on

12/31

200__!

, 2QQ!.

Taxpayer's Name

Employer's Identification Number
76-0235183

Petrobras America, Inc. -Puerto Rico nnl!r::~tinr1!':

Name of entity:
Employer's identification No:
Credit for:
Tourism Development ................................................ .
Solid Waste Disposal .. . .. . .. . .. . ... .. . .. . .. . .. . .. . .. . .. . .. . .. . ... .. . .
Agricultural Incentives .. . .. . .. . .. . .. . .. . ... .. . .. . .. . .. . .. . .. . .. . .. . .. . ..
Capital Investment Fund................................................
Theatrical District of Santurce .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . ... .. . .. . ..
Film Industry Development ... ... ... ... ... ... ... ... ... ... ... ... ... ... ..
Housing Infrastructure... .. . ... .. . .. . .. . .. . .. . .. . .. . .. . . .. .. . .. . .. . .. . .. .
Construction or Rehabilitation of Rental Housing
Projects for Low or Moderate Income Families .. . .. .. .. .. .. .. .. . ... .. .
Acquisition of an Exempt Business that is in the

2
3

4
5
6
7
B

................................. 1
................................. 2
................................. 3

................................. 4
................................. 5

................................. 6
................................. 7

.. ...............................
.................................
.................................
.................................
.................................

1
2
3
4
5

................................. 6

7

D ,.. .. .... .. .... .. .... ... ... .. .... B D .. ... .. .. ... .. ... .... .. .. .. .... ..

B

~~on~:~~~~~!~~~~~~~~~~~~~.i~.:.~~r~~-~i·c·~· ·.·.·::.·.·:.·. ·.·.'. '.'.'. '.'.'. '.'.'. 1~ I=J ::::::::::::::: :::::::::::::::::: 1~ I=J ::::::::::::::::::::::::::::::::: 1~
Other:
................... 11 l:j ................................. 11 l:j ................................. 11

1. Total credit claimed in excess .. . ... ... ... ... ... ... .. . ... .. . ... ... ... ... ... ... ... ... ... ... ... ... ... .. . ... ... ... ... .. . ... ... ... ... ... ... .. . (1)
2.
3.

Recapture of credit claimed in excess paid In previous year, if applicable ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ..
Recapture of credit claimed in excess paid this year (Enter on Form 480.10 or 480.20,
Part Ill, line 14. See instructions) ......................................................................................................... .
4. Excess of credit due next year, if applicable (Subtract line 2 and 3 from line 1. See instructions) ................................... .

1---------l~:.,l

1. Credit for taxes paid to the United States, its possessions and foreign countries (Schedule C Corporation
and Partnership, Part IV, line 7) ............................................................................................................
2. Credit for increase in investment (See instructions) ...................................................................................... .
3. Credit for investment in Capital Investment, Tourism, other funds, or directinvestment (Submit Schedule Q) .......................... .
4. Credit attributable to losses in Cap~allnvestment, Tourism or other funds (Submit Schedules Q and 01) ........................... .
5. Credit for Contribution to the Educational Foundation for Free Selection of Schools ................................................... .
6. Credit for alternative minimum tax paid in previous years (See instructions) ............................................................ .
7. Credit for the purchase of tax credits (Complete Part IV) ................................................................................ .
8. Credit for investment Act No.362 of 1999:
0 Film Project and/or 0 Infrastructure Project ................................. .
9. Credit for investment in Housing Infrastructure .............................................................................................
10. Credit for investment in the Construction of Rehabilitation of Rental Housing Projects for Low or
Moderate Income Families ..................................................................................................................
11. Credit to investors in an exempt business that is in the process of closing its operation in Puerto Rico .. . ... ... .. . .. . .. . ... .. .. .. .. . .. . (1
12. Credit for purchases of products manufactured·in Puerto Rico and Puerto Rican agricultural products
(Submit Schedule 81 Corporation and Partnership) ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... .. . ... ... ... ... ... .. . ... ... ... ... ... ... .. . (12)1-------1-~
13. Credit for contributions to Santa Catalina's Palace Patronage (See instructions) ........................................................ (13)
1--------r~
14. Credit for the establishment of an eligible conservation easement or donation of eligible land (See instructions) ..................... ..
15. Credit for construction investment in urban center (See instructions) .. . .. . .. . .. . .. . .. . ... .. . .. . .. . .. . .. . .. . .. . .. . ... .. . .. . .. . .. . .. . .. . .. . (1
16. Credit for merchants affected by urban centers revitalization (See instructions) .......................................................... (1
17. Exemption for persons that operate as publisher (See instructions) ...................................................................... (17)
1-------~-r~
18. Exemption for persons that operate as printer (See instructions) .......................................................................... (18)
19. Exemption for persons that operate as bookseller (See instructions) ..................................................................... (19)1--------t.;,:-1
20. Credits carried from previous years (Subm~ Details) .................................................................................... ..
21. Other credits not included on the preceding lines (Submit detail) (See instructions) ..................................................... .
22. Total Tax Credits (Add lines 1 through 21) ................................................................................................ .
23. Total tax determined (Form 480.10 or 480.20, Part Ill, line 13) .. . ... ... ... .. . ... ... .. . ... .. . .. . .. . .. . ... .. . ... ... .. . .. . ... ... .. . ... ... ... (23)
24. Credit to be claimed (The smaller of line 22 or 23. Enter on Fonn 480.10 or 480.20, Part Ill, line 15) ................................. (24) 1--------------~~~
25.
credits
line 24 from line 22. Submit
...... ... ...... ... ... ...... ...... ... ... ...... ...... ... ... ...... ... ... ..
1----------~~~
Conservation Period: Ten (10) years

Computer Expert Group

Schedua B Corporation end Partnership • Page 2

)S

1.
2.
3.
4.

Tax paid with automatic extension of time
.......................................................................................
Estimated tax payments for 2004
...................................................................................................
Tax paid in excess on previous years credited to the estimated tax (See instructions) ............................................. .
Tax withheld at source ..................................................................................................................

5. Services rendered (Form 480.68) ......................................................................................................
6. Tax withheld at source on distributable share to partners of special partnerships (Form 480.6SE) ................................ .
7. Tax withheld at source on eligible interest .............................................................................................
8. Total Other Payments and Withholdings (Add lines 1 through 7. Enter on Form 480.10 or480.20,
IRIIII Part Ill, line 22) ........................................................................................................................ .

Breakdown of the Purchase of Tax Credits
Check the block corresponding to the act (or acts) under which you acquired the credit and enter the amount:

0 Tourism Development .................................................................................................................. .
2. O Solid Waste Disposal .................................................................................................................. .
1.

3.

O Agricullurallncentives .................................................................................................................. .

0

4.
Capital Investment Fund ............................................................................................................... .
5. O Theatrical District of Santurce ......................................................................................................... .

0

6.
Film Industry Development ............................................................................................................ .
7.
Housing Infrastructure ..................................................................................................................
8. O Construction or Rehabilitation of Rental Housing Projects for Low or Moderate Income Families ................................. .
9.
Acquisition of an Exempt Business that is in the Process of Closing its Operations in Puerto Rico ............................... ..

O

0

O

10.
Conservation Easement ............................................................................................................... .
11. 0Urban Centers Revitalization ............................................................................................................ (1 '1---------f-l<>g
12. Oother:
13. Total credit for the purchase of tax credits

..................................................................... .
as Part II, line 7) ....................................................................... .
Conservation

J'l"'lDJTION TO THE TAX FOR FAILURE TO p... v
ESTIMATED TAX IN CASE OF
CORPORATIONS AND PARTNERSHIPS

le T Corporation
and Partnership

0

Ta><abkl
axpaye~s

Name

Petrobras America, Inc. - Puerto Rico
Estimated Tax Required
Part r

200A_
Employer's ldentificalion Number

76-0235183

1

1. Tax liability (Add lines 13, 14, 17 and 19 of Part Ill, page 1 of the return) ............................................................................ C 1 J t - - - - 2. Credits and overpayments (See instructions) ................................................................................................................ (2J t-----'-=~
Estimated tax (Subtract line 2 from line 1. If it is zero, do not complete this Schedule) .......................................................... (3J t----1..!.=~~
4. Line 1 multiplied by 90% ............................................................................................................................................. (4J 1----~;:tt
5. Subtract line 2 from line 4 (If it is zero or less, enter zero) ............................................................................................... (5JJ------+.~
6. Tax to be paid based on the income tax return from previous year (See instructions) ........................................................... (6J 1 - - - - - 7. Tax to be paid based on the income tax return from previous year determined according to the rates
corresponding to the current taxable year (See instructions) ............................................................................................ (7J 1-----Enter the smaller of lines 5, 6 and 7 ............................................................................................................................

9. Basis Period (See instructions) ......................................................................... C9J ~:.:.:.::.::::....___,=f.!.=::.:::..-...,~==-~
10. Enter the net income for each basis period ....................................................... (10J J-----e~----e:lffl----~+---11. Divide line 10 between the number of months of the basis
period on line 9 .................................................................................................. (11J t - - - - t . i
12. Net income placed on an annual basis (Multiply line 11 by 12).......................... c121 t------f.l~---~H-----e
13. Determine the normal tax on the net income placed on an
annual basis of line 12 (Line 12 by 20%) ........................................................... (13} t------1*~--14. Determine the surtax on the net income placed on an
annual basis of line 12 ...................................................................................... (14J 1 - - - - 15. Determine the recapture on the net income placed on an
annual basis of line 12 ...................................................................................... (15J 1 - - - - f . l ! l . B - - - 16. Determine the Alternative Tax- Capital Gains ............................................... (16J 1 - - - - 17. Tax Determined (Enter the smaller between the sum of lines 13 through 15, or line 16)...... C17J
18. Enter the recapture of investment credit claimed in
1----excess or others .............................................................................................. (1BJ 1----+.
19. Determine the alternative minimum tax on the net income
placed on an annual basis of line 12 ................................................................. C1 9J t - - - - - l t . ! i M - - - 20. Total annual basis tax (Add lines 17 through 19) .............................................. C20l r---~®:t------f.ol'!tffi----21. Multiply line 20 by 90% ......................................................................................(211 t - - - Enter the credits and other payments per period (See instructions) ..................... (22J
Estimated Tax to be Paid (Subtract line 22 from line 21. If it is
1 - - - - - ;mm----___,;
less than zero, enter zero) ................................................................................. (2JJ
24. Add the amounts of all previous columns of line 31 (See
instructions) ........................................................................................... (24J
25. Subtract line 24 from line 23 (If itis less than zero, enter zero) .......................... (25J 1----~~---~~----="1-------l~
Number of installments ................................................................................. (261 ,___..:.__..,..,
27. Estimated Tax to be Paid per Installment Placing the Net Income on an
Annual Basis (Line 25 divided between line 26) ............................................ C27 l

ConseJVallon Period: Ten (10} Years

Rev. 05.04

Part II

Failure to Pay

(a)
First Installment

32. Due dale (See instructions)
ll) CALENDAR YEAR
FISCAL YEAR (Enter the corresponding dates) .............................................. (32) ~===::::;;;:;

Second ln.,u.rment

0

33. Amount of minimum estimated tax per installment (If you
completed Section A and B of Part I, enter tine 31. Otherwise,
see instructions) ........................................................................................... (33) l - - - - - € a - - - - - e a - - - - - ; : ; ;
34. Amount of estimated tax paid per installments (See instructions) ..............................(34) 1------"""""+---=-"'-'-'=-"""'""+-----";..::,.;c.;;.;:....o
35. Payment date (See instructions) ........................................................................ (35)
36. line 42 from previous column ........................................................................... (36J ~-E:ig([illffi]illf]l®,t=~:==~~l==:j45JiQQ:~®.t==::illl:fiOO:Jmi!J
37. Add lines 34 and 36 ....................................................................................... (37) 1-----~Mt----"'=""'38. Subtract tine 33 from line 37 (If it is zero or less, enter zero) .................................... (3BJ I-----T.$.f.fr----"'=""'39. Failure to pay (If line 38 is zero, subtract line 37 from line 33.
Otherwise, enter zero) .................................................................................... .!39)
40. Add lines 39 and 41 from previous column .......................................................... (40)
41. If line 40 is equal or larger than line 38, subtract line 38 from
line 40 and go lo Une 36 of next column. Otherwise, go to line 42 ....................................... (41)
42. Overpayment (If line 38 is larger than line 40, subtract line 40
from line 38, and go to line 36 of next column. Otherwise, en(er
zero) ..........................................................................................................J42J

Part Ill
43. Multiply line 39 by 20% (See instructions) ......................................................... (43) 1------""'=t------""'=t-----.J;:;:li~-----..r:;::;~
44. Number of days from the due date to the payment date (See
lnslructions) ................................................................................................ (44) 1 - - - - _ : ;
45.
line 44
----s65' X line 43 (See instructions) ..................................................... (45)
46. Addition to the Tax for Failure to Pay (Add the amounts from
columns of line 45. Transfer to page 1, Part Ill, line 21 of the return) ....................... (461
P;~rtiV

Amount due and not paid
before the payment
(a)

(e)

Multiply (a) by 20% by

Amount due and not paid
before the payment
(a)

(e)

Conservallon Period: Ten 110) Years

Computer Expert Group

~-----------------.-------------------------------------------.--------------------~

Form AS 2879
Rev.12.96

Fore 1 Corporations and Partners: ·s
Tax on Dividend Equivalent Amount
and Effectively Connected interest
(Branch Profits Tax)

Taxpayer's Name

Petro bras Anlerica, Inc. - Puerto Rico Onerations

2004
Employer Identification Number

76-0235183

NOTE TO THE TAXPAYER:
This schedule applies to foreign corporations and partnerships that derived less than 80 percent of
their combined total gross income, during the taxable year and the preceding two taxable years, from sources within Puerto Rico
or from income treated as effectively connected with the operation of a trade or business in Puerto Rico (see instructions). If the
corporation or partnership derived 80 percent or more of its combined total gross income as described here, do not complete this
schedule.

1. Enter regular income before any net operating loss deduction (Income Tax Return Forms 480.1, 480.10,
480.2; 480.20, Part I, line 1 or Forms 480.3(11) and 480.30(11), Schedule P, line 17) ............................. (1)

(1,054,094) 00

2.Additions:
a) Enter excess of flexible depreciation over straight-line depreciation ................. (Za>t------0 00
-+-_ _,
b) Exempt interest income under Section 1022(b)(4) of the Puerto Ri~o Internal
0 00
Revenue Code of 1994, as amended (Code), net of related expenses ............... (Zblt-----+--1
c) Other addtitions (See Section 1119 of the Code):

(Zc).___ _ _o__.__oo-l

3. Total additions. (Add lines 2(a) through 2(c)) ...................................................................................... < 1 - - - - - o+-00-1
3>
4. Deductions:
a) Taxes paid (Enter the sum of normal tax, surtax, and alternative minimum tax). (4a)t----o-+o_o-t
b) Previous year Branch Profits Tax .................................................................... (4blt----o-l-_oo-l
c) Enter interest deduction attributable to interest derived from exempt obligations
(Applicable to financial institutions only. See instructions) ................................. (4c)
O oo
d) Meals and entertainment (Non-deductible) ..................................................... (4dl
1,136 oo
e) Penalties ...................................................................................................... (4e)
5 00
f) Other deductions (See Section 1119 of the Code) ............................................ (41)
14 00
1,155 00
5. Total deductions (Add lines 4(a) through 4(f)) .................................................................................... (S>t-------+--1
(1,055,249) 00
14,768,695

00

15,821,634 00
8. Enter Puerto Rico net equity at the end of the previous taxable year .................................................. (Blr-----1---t
0 00
9.lncrease/decrease in Puerto Rico net equity (Subtract line 8 from line 7. See instructions) .................. (Slr---------+--1
0 00
10.Dividend equivalent amount (Subtract line 9 from line 6. See instructions) ...................................... (1o>r---------+--t
0 00
11.Branch profits tax liability (Multiply line 10 by 10%) ........................................................................ (11>'-------'--1
Computer Expert Group

,:"-:,

PETROBRAS AMERICA, INC.- PUERTO RICO OPERATIONS
ACCOUNT NO. 76-0235183

STATEMENT TO BE ATTACHED TO AND MADE PART OF THE
PR CORPORATION INCOME TAX RETURN
FOR THE YEAR ENDED DECEMBER 31, 2004

OTHER DEDUCTIONS
PAGE 2, PART V, LINE 47

Duties
Freight
Barge Charges
Unloading Inspection Expenses
Storage
Bond Insurance
Outsourcing Work

$388,812
4,253,052
673,797
706,704
2,317,501
203,256
19,678

Telecommunication Services
Copies and Reproductions
Agencies Services
Postal Services
Expatriate Relocation Expenses
Subscriptions
Employee Training & Courses
Other Miscellaneous Expenses

10,257
1,337
1,165
1,305
1,219
1,332
4,160
103,969

TOTAL

$8,687,544

f:":=·:O:..·:·:-:•:-:-:-:·:·:.:-.:-:-x-:-:·:-:--..:-:-:-:oYhW :--..:-:-y..:..-:«-»:"'
.
..

{!

:-:-:-:.-.;.;.;.:-:·:·:·:-:-:-:.--:·w.·}:·:-:-:·:·:.:-:.;.:-:·:-:·:·:·:-:.-...:·:·:·:-:· :.:·:.;.;.o,.:.:v:·:·:.:-:-:-:-:.:-:-···:-:-:·:....:-:·:·:·:·:·:-··:-:-:·:-:-:·:«-:·:..·:-:-»:·:-:...-:-:·:«•:·:·:·»:-:-:.;.o..:-:-:-:-:-:-:·:·Y-:..«-:·-:·:·:-:·w.-:-:·:·:-:<-:-:.:..
.«.;.:.;.:.:.;.>:-:·x.;.·:·:«·:•w :.-• :.:-:.;.;.x.;.;.-.:.;....:-:ow..··:.;.:.:.-·>!·X:::?."
..

PETROBRAS AMERICA, INC.- PUERTO RICO OPERATIONS
ACCOUNT NO. 76-0235183

"

STATEMENT TO BE ATTACHED TO AND MADE PART OF THE
PR CORPORATION INCOME TAX RETURN
FOR THE YEAR ENDED DECEMBER 31, 2004

NET OPERATING LOSS CARRFYFORWARD FOR AMT PURPOSES
SCHEDULE A PART III, LINE 19

'YEAR
CREATED

LOSS
AMOUNT

2004

$1,054,094

TOTAL

AMOUNT
USED

BALANCE

$

$

1,054,094

$

$

1,054,094

TOTAL NOL AMT CARRYFORWARD TO 2005

EXPIRATION
YEAR

2011

)i)l

i§i

,.,

~~

ACCOUNT NO. 76-0235183
STATEMENT TO BE ATTACHED TO AND MADE PART OF THE
PR CORPORATION INCOME TAX RETURN
FOR THE YEAR ENDED DECEMBER 31, 2004

NET OPERATING LOSS CARRFYFORWARD FOR REGULAR TAX PURPOSES
PAGE 1, PART I, LINE 2

'YEAR
CREATED

LOSS
AMOUNT

BALANCE

$

2004
TOTAL

AMOUNT
USED

$1,054,094

$

1,054,094

$

$

1,054,094

TOTAL NOL CARRYFORWARD TO 2005

$1,054,094

EXPIRATION
YEAR

2011

STATEMENT TO BE ATTACHED TO AND MADE PART OF THE
PR CORPORATION INCOME TAX RETURN
FOR THE YEAR ENDED DECEMBER 31, 2004
CHARITABLE CONTRIBUTIONS CARRYFORWARD

YEAR

AMOUNT
USED

AMOUNT
$

14

$

$

12/31/2004

14

BALANCE

$

Amount available to carryforward to future years

$

14

$

14

EXPIRATION
DATE
12/31/2009

PETROBRAS AMERICA, INC.- PUERTO RICO OPERATIONS
ACCOUNT NO. 76-0235183
A STATEMENT TO BE ATTACHED TO AND MADE PART OF THE
PR CORPORATION INCOME TAX RETURN
FOR THE YEAR ENDED DECEMBER 31, 2004
An examination of the financial statements of the company by an independent certified public
accountant for the year ended December 31, 2004 is presently in process. Upon completiou of the
examination, the required financial statements and the Accountaut's Report thereon will be
submitted.

PricewaterhouseCoopers LLP
254 Munoz Rivera

BBVA Tower, 9th Floor
Halo Rey PR 00918
Telephone [phone]
Facsimile [phone]

April 8, 2005
Depruiment of the Treasury
Bureau of Retums Processing
P.O. Box 9022501
San Juru1, Puerto Rico 00902~2501

Dear Sirs:
PETROBRAS AMERICA, INC.
ACCOUNT NO. 76~0235183

On behalf of the above client, we respectfully request for automatic extension of time until
July 14, 2005, within which to file the P.R. Corporation Income Tax Return for the year ended
on December 31, 2004.
The extension request shows no tax liability due.
Please aclmowledge receipt of this letter by date stamping the attached copy. If you have any
questions please call us.

Very~

He~r
Enclosures As stated
cc: Mr. Elau Lau- Petro bras America, Inc

Modelo SC 2644
Form'S
Rev. 12.v3

ESTADO LIBRE ASOCIADO DE PUERTO RICO- COMMONWEALTH OF PUERTO RICO
Departamento de Hacienda ·Department of the Treasury
: SOLICITUD DE PRORROGA PARA RENOIR LA PLANILLA DE CONTRIBUCION SOBRE INGRESOS
Request for Extension of Time to File the Income Tax Return
Aiio comienza el_ de _ _ _ de_ y term ina el_ de _ _ _ de_
Year beginning on _1_1_1_ of 2004 and ending on ~ of 2004

Parte - Part 1: Informacion del Contribuyente -Taxpayer's Information
Numero de Seguro Social

Numero de ldentificaci6n Patronal

Social Security Number

Employer's Identification Number

DDDDDDDDD
Nombre dellndividuo
Individual First Name

lnlclal
Initial

Apellldo Paterno
Last Name

Apellldo Materna
Second Last Name

Nombre de Ia Corporacl6n, Socledad, Sucesi6n o Fldelcomlso •

Corporation, Partnership, Estate or Trust Name

Petrobras America, Inc.
Dlreccl6n Postal - Postal Address
10777 Westheimer Road, Suite 1200
Code
Tehifono Resldencla
Residence Telephone

77042

Teletono Oflclna
Office Telephone

Ocupacl6n/Negoclo
Occupation/Business

DDDDDDDDDD

Unfinished Crude Oil importer

Parte- Part II: Informacion del (de los) Patronos(s) para quien(es) Trabaj Information of the Employer(s) for whom you Work
Nombre del Patrone • Employer's·Name

Nombre del Patrone -

Numero de ldentlflcacl6n Patronal- Employer's Identification Number

Dlreccl6n - Address

Dlreccl6n ~ Address

DDDDDJDDD

C6dlgo Postal- Zip Code

1'
Employer's Name

Numero de ldentificacl6n Patronal- Employer's Identification Number

DDDDDJDDD
Z "· ·························· ODD DOD DD~ @]@]
···,·,
~r,~·~v~~~}t,~~l?... ................... ODD DOD DO~ @]@]
.t~" If.,~·\.<>'~ ""' ~'
~- -~ ~ ·~'I,
~
DOD DOD DDinllnllnl
~t':~!'~l):f~$')\\>o~~~-0···· .. ····· .. 1;;1~.
U ~~
C6digo Postal - Zip Code

2.

Parte- Part Ill: lngresos Income

1. lngreso segun Comprobantes de Retencl6n o lngreso Estlmado .......................
Income as per Withholding Statement or Estimated Income
~ ~(;,0
2. Otros lngresos ................................ ; .................................
Other Income

••

3. Total de lngreso Bruto ...............................................
Total Gross Income
,.,_.,·r~. "~'~~-;.:

·

!'.f:o~

\

~

·

4. Contrlbucl6n sobre lngresos Opclonal para Negoclos Exentos {Anejos 0 Incentives) •••• (CIFRA DE INGRESO 0213)
Optional income Tax lor Exempt Business {Schedule 0 Incentive)

VEASE AL DORSO • SEE ON BACK

DOD DOD DD@J 00
DOD ODD DD@J00
ODD DOD DD@J 00
DOD ODD DD@J 00
Computer Expert Group

Modelo

sc 2644, Rev 12.03 • Pagina 2

Solicitud de Pr6rroga Automatica - Request for Automatic Extension of Time
Clase de contrlbuyente • Type of taxpayer

0
0
0
0

D
0

1. lndlvlduo ·Individual

D

D

2. Sucesslon • Estate

4. Corporation • Corporation

5. Corporacion bajo el Programa de lncentlvos
Contrlbutlvos de Puerto Rico ·Corporation under the Puerto
Rico Tax Incentives Program
6. Corporaclon Especial Propledad de Trabajadores •
Employees· Owned Special Corporation
7. Corporaclon de lndividuos • Subchapter N Corporation

D
D

D
0

3. Fldelcomlso • Trust

B. Sociedad • Partnership

9. Socledad bajo el Program a de lncentlvos Contrlbutlvos de Puerto Rico
Partnership under the Puerto Rico Tax Incentives Program

10. Socledad Especial· Special Partnership

11. Organlzaclon Sin Fines de Lucros • Non Profit organization

12. Corpora cion o Socledad acoglda a Ia Secclon 936 del Codlgo de Rentas lnternas Federal
Corporation or partnership that has an election under Section 936 of the Federal Internal Revenue
Code

Solicitud de Pr6rroga Adicional - Request for Additional Extension of Time
Clase de contribuyente • Type of taxpayer

D

1. lndlvlduo ·Individual

D

2. sucesslon • Estate

D

3. Fldelcomlso • Trust

Razones - Reasons
The Information necessary to complete the return will not be available by April 15, 2005.

Juramento - Oath
Declare bajo pen all dad de perjurlo, que Ia Informacion aquf sumfnfstrada ha sldo examlnada parmi y que segun ml me) or informacion y creencla es
clerta, correcta y completa.
I hereby declare under penalty of prejury, that this information has been examined by me and to the best of my knowledge and belief is true, correct and complete.

Titulo ·Tille

Compulcr Expert Group

Form 480.20 Rev. 0~.04

76-0235183-Petrobras America. Inc.· Puerto Rico OJ?~.;l'er!JW:•fi,o~n~=:.s_ _ _ _ _ _ _ _~co::.llfP~,o~ra:,::tlo::,:n.,:,·:::Pa~g'e;.;,3
Corooration • ComParative Balance Sheet'._-----::::--::-~~-:-:--------1
Beginning of the Year
Ending of the Year
Assets

1. Cash on hand and in banks .. .... .... .. .... .
2. Accounts receivable.........................
3. Less: Reserve for bad debts .. .. .. .. .. .. .. ..
4. Notes receivable... .. . .. . .. . .. . .. . .. . .. . .. . ..
5. Inventories .. . ... .. . .. . .. . .. . .. . .. . .. . .. . .. . ..
6. Investments... .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .
7. Depreciable assets..........................
8. Less: Reserve for depreciation..............
9. Land ... ... ... ... ... ... ... ... ... ... ... ... ... ..
10. Other assets... .. . .. . .. . ... .. . ... .. . .. . .. . .. .
11. Total Assets ................................
Liabilities and Stockholder's Equity

Total
0 00
(1)
42,468,379 00
(2) 1---'--"---4-__,...,j
42,468,379 i 00:
0 :. 00)
(3) ...,<-----=--+--=1------=-......:--J:-~
0 :00
(4)
10 537 005 •oo.
(5)
0 00
(6)
0 :.0.0
(7) 1-------"-h.;:;::;:.j
:
0 :oo
0 QO)
(8) p<-----=-+~------+;.;:,...J
0 ··oo ·
(9)
:
0 bo
(10)
53,005,384 •.00·,
(11)

Total
(1)
(2)
(3) (

0

39,753,222
0

00)

•00

39,753,222

:OQ

00.

(4)

0

•ooi

12,003,054 :QQ:

(5)
(6)

0

0

00

0

(7)
(8) (

00)

:

:

(9)

(10)
(11)

·ad·

..
0 :QQ•
0 •otJ~
0 ;:QQ:.
51,756,276 •00:
:····

:

Liabilities
35,914,760 ::·,oo:
12. Accounts payable .. . ... .. . ... ... .. . ... ... .. . (12) 1---'--"---+~
0 • dd,
13. Notes payable .. . .. . .. . .. . ... .. . .. . .. . .. . .. . . (13) !------"+~
0 ·oo::
14. Accrued expenses ........................... (14) !------=+~
1,268,990 .•:(j(f
15. other liabilities .. . ... ... ... ... ... ... ... ... ... (15) 1--__:==~~
16. Total Liabilities ... ... ... ... ... ... ... ... ... (16)
Stockholder's Equity
17. Capital Stock
(a) Prefered stocks ......................... (17a)
o 00
(b) Common stocks ........................ (17b)
o • (j(j,
18. Additional paid in capital .................... (18)
o 00.
19. Retained earnings........................... (19)
15 821 B3d 00
20. Reserve .. .. .. .. .. .. .. .. .. .... ... .. .. .. .. .. .. (20)
0 ·QO
21. Total stockolder's Equity ................. (21)
.. .
22. Total Liabilities and Stockholder's Equity .. . ... (22)

:

37,183,750

ao

(12)
(13)
(14)
(15)
(16)

.. :

35,779,569 •. 00
0 •C:JO:
0

:

..

:oo

:··

214 : 00
35,779,783 ·Q[i:

.1----'---'---+~

:(

(17a)I--------"O-+;"'oo:-l·:
(17b)l------~o~··:;;oo:-l·

: ...:

(18)~-----.ILJ,n·...:::o~o:

,
15,821,634 :00
53,005,384 i :mt•

19
11 """l,!'l"llLL"~+-•. : : OO::. J'
< ll-_ _....:-~..:~:,w

(20)I---------1nLL.·~00!'-l•'
(21).
(22) ·

:.:
..

15,976,493
51,756,276

•·po:
QO

Reconciliation of Net Income (or Loss) per Books with Net Taxable Income (or Loss) per Return
1. Net income (or loss) per books .. .. .. .. . .. .. .. (1)
2. income tax .. . .. .. .. .. .... .. .. ... .. .. .. .. .. .. .. (2)
3. Excess of capital losses over capital
gains .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . ... .. . .. . . (3)
4. Taxable income not recorded on books this year
(Itemize, use schedule if necessary)
(a)
o
(b)
o
(c)
o
(d)
o
Total .. . .. . . .. .. . .. . .. . .. . . .. .. . .. . .. . .. . .. . .. . (4)
5. Expenses recorded on books this year
not claimed on this return (Itemize,
use schedule if necessary)
(a) Meal and entertainment (amount
not claimed)
1,136
(b) Depreciation
o
(c) Donations
14
(d) Penalties
5
Total .......................................... (5)
6. Total (Add lines 1 through 5).: .............. (6)

(1,055,249) ' oo·
0 ,· oo:
··
0 • .ob.

7. Income recorded on books this year not
included on this return (Itemize, use
schedule if necessary)
..
(a) Exempt interest
o
• .:
(b)
o
I
(c)
o
<•
(d)
o
· ··
Total ... ... ... ... ... ... ... ... ... ... ... ... .. . ... ... ... .. (7lt-------o-r;;-"-QO'-I.:
8. Deductions on this tax return not charged
.,
,
against book income this year (Itemize,
GO
use schedule if necessary)
,
(a) Depreciation
o
'
(b)
o
(c)
o
: ·.
..
(d)
o
0 >bo ·
Total .............................................. .. (8)
0 D_O·
9. Total (Add lines 7 and 8) ........................ .. (9)
:
10. Net taxable Income (or loss) per return
(1,054,094) :oo'
···
(Subtract line 9 from line 6)... ..................... .. (10)
1,155 : 00.
(1,054,094) , 00,

<:

fD

Analysis of Retained Earnings per Books
0 00'
15,821,634 .:oo: 5. Distributions:
(a) Cash ............................. (5a)
(1,055,249) oo
(b) Property ........................ (5b)l--------!'-'-'i
0 00
(c) Stocks ........................... (5c)
0 00
1,210,108
6. Other decreases (Use schedule if necessary) . .. ... ... . ( 6 ) ! - - - - - - - t = f
0 .oo
0
0 •oo
7. Total (Add lines 5 and 6) ... .. . ... ... ... ... ... .. . .. . ... . ( 7 ) ! - - - - - - - t = l
(3)1------o~·o~o 8. Balance at end of year (Subtract line 7 from
4. Total (Add lines 1, 2 and 3) .. . .. . .. . .. . .. . .. . . (4)
15,976,493 ·o.o line 4) .. . .. . .. . .. .. .. .. . .. . .. . .. . .. . .. . .. . .. . ... ... .. . . .. . (8)
15,976,493 :co:
Computer Expert Group
Conservation Period. Ten (10) years

1. Balance at the beginning of the year .......... (1)
2. Net income per books .. .. .. .. .. .. .. .. .. .. .... . (2)
3. other increases (Itemize, use
~ schedule if necessary)
~

-----------

Social security number

Name of officer

Percentage of time
devoted to
industry or business

Percentage of stocks owned
Compensation

Total compensation to officers (Enter in Pari V, line 21) ............................................................................................

9. Number of employees during the year:
· 10. Did the corporation claim a deduction for expenses connected

1. If a foreign corporation, indicate if the trade or business in
Puerto Rico was held as a branch ....................................... .

with:
(a) Vessels? ............................................................. .
(b) Living expenses? ...................................................... .
(c) Empbyees attending conventions or meetings outside Puerto
Rioo or Jhe United Stales? ............................................. ..

2. If a branch, indicate the percent that represents the income from sources
wilhin Puerto Rico from !he total income of the corporation:

%

3. Is the corporation under Section 936 of !he Federal Internal
Revenue Code? ........................................................ .

4. Did the corporation keep any part of ils records on a

11. Did the corporaiion distribute dividends other than stock dividends or

computerized system during this year? .................................. .
5. The corporation's books are in care of:

Name
Address

The Corporation
10777 Weslheimer Road Suite 1200
Houston
TX
77042
6. Indicate !he accounting method used for book (lax) purposes:
0 Cash
Ill Accrual
Other (specify):
7. Did the corporation file the following documents?:
(a) Informative Return (Form 480.5, 480.6A, 480.68) ................... (7a)
(b) Withholding Statement (Form 499 R-21W-2PR) ...................... (7b)
8. If the gross income exceeds $1,000,000, are financial
statements audited by a CPA licensed in Puerlo Rico included
with this return? ..... · .. • ••· .. · .. · .. · .. · •· · •· • .. • ••· .. • .. • .. • ••• ••• .. • ·

0

distributions in liquidation in excess of the corporation's current and
accumulated earnings? ................................................ ..
2. Is the corporation a partner in any special partnership? .................. ..
Name of the special partnership
Employe~s identification number
13. Is the corporation a member of a controlled group? ...................... ..
14. Enter the amount of exempt interest:
0
15. Enter the amount corresponding to charitable contributions to
municipalities included in Pari V, line 43:
0
16. Indicate if insurance premiums were paid by an
unauthorized insurer ................................................ .
17. Employe~s number assigned by the Department of Labor and
Human Resources:
18. Number of stockholders:

We, the undersigned, president (or vice-president, or other principal officer) and treasurer (or assistant treasurer), or agent of the corporation for which this income
tax return Is made, each for himself declare under penalty of perjury, that this return (Including schedules and statements attached) has been examined by us, and to
the best of our knowledge and belief, Is a true, correct, and complete return, made in good faith, pursuant to the P o Rico Internal Revenue Code of 1994, as

'""dod, '"dtho """'"'"' th"'"""~
President's oriJice-!Xllsident's signature
Agent
Affidavit No. _ _ _ _ _ _ __

NOTI\FW
SEAl~

·
.
SPECIALIST'S USE ONLY
I declare under penalty of perjury that this return (Including schedules and statements attached) has been examined by me, and to the best of my knowledge and belief Is a true, correct,
and complete return. The declaration of the person who prepares this return ls with respect to the Information received and this information may be verified,

PO Box 363566

San Juan
Conurvallon Period: Ten (10) ynrs

PR

Zip Code

00936-3566
Computu Expert Group

'endor :1004466

'our Reference

Document :2000003816 Date: 09/13/2004

Our Reference

Date

91304-PUERTORIC
1900003448
AX FbR PUERTO RICO 3RD QTR EST,ID:760-23-5138

Gross amount

09/13/2004

172,500.00

urn total

17.2,500.00

·h;:;

•

{ ..

:

J

.-~

·~

1 dor

:1 004466

Documen t ·2000002746 Date: 07/12/2004
,
Date

our Reference

Jr Reference

1900002684
204-PUERTO
ERTO RJCOSECR ETARY OF TREASURY-2004 EST.INC.
.

Gross amount

07/12/2004

345,000.00

345,000.00

n total

480.E·1
Estado Llbre Asociado de Puerto Rico • Commonwealth of Puerto Rico
Departamento de Hacienda· Department.ofthe Treasury

Rev. 08.00
Rep, 08.02

NOMBRE. Name

PETROBAS AMERICA, INC
DIRECCION ·Address

AttN l

Tcix .Dept.

10777 WESTHEIMER ROAD, SUITE·l200
HOUSTON, TX

77042

~
/

COLECTURIA
Colleclions Office

FECHA DE PAGO
Payment Data
Allo
MES
DIA
Year
Monlh
Day

NUMERO DE SEGURa SOCIAL 0
IDENTIFICACION PATRONAL
Social Securlly or Employer's
ldenflfJcallon Number

Payment Stamp

1
I
I

'------/

.•

C~DIGO POSTAL ·Zip Code

r seiTooE"PA"Go '

1
I
I

,

CODJGO

Code

1· JNOJVJDUO ·Individual
2· CORPORACJON 0 SOCIEDAD

Corporation or Partnership
Ar'lo
CODIGO CONTRIBUTIVO
Code
Tax Year

CO Col •I g,1,1 •II '1·1 "12131sJ,I ·131oi00 GIJ@l§J[ I 13l•lsl olo IJ:o I~
IMPORTE PAGADO
Amount Paid

AMENDED
COMMONWEALTH OF PUERTO RICO
DEPARTMENT OF THE TREASURY

200_5

Corporation Income Tax Return
I I

P.O. Box421688
Industrial Code

Houston

Code 77242

Location of Principal Industry or Business • Number, Street, City
10350 Richmond Avenue, Suite 1400 Houston, TX 77042

Type of Principal Industry or Business (i.e. Hardware, Cafeteria, etc.)

Unfinished Crude Oil Importer
Check the corresponding box, if applicable

D

First return

D

Last return

Contracts with Governmental Entities

IXJ Yes

0

No

CHANGE OF ADDRESS

DYes

!XI No

2006 RETURN

D Spanish lXI

Delaware
E-mail Address

English

1. Net operating Income (or loss) (From Part V, line 49) ........................................................................................................................................

2. Less: Net operating loss deduction from preceding year (Submit detail) .. ~.~!:... ~.Sl'!.S!:!!!!:::\~...~.S~.~~.I:!!:.~ ...~!:.~: ..S~.'?.!!.~!?-.9. .. ~l'J'.7.!:.~!!l.';m.t
3. Net Income (or
.......................................................................................................................................................................................... (3)
4. Less: Dividends or profits received from domestic corporations or partnerships.....................................................................................................
5. Net Income subject to normal tax (Subtract line 4 from line 3) ...........................................................................................................................
6. Less: Surtax net income credit.............................................................................................................................................................................
7. Net income
line 6 From line ..................................................................................................................................

(4) 1-------~;:,.t
(5)

1---=:.:..:.,::..:...:+'i:'-1

(6) 1--------f-'F';,;..J
(7)

Normal tax (Multiply line 5 by 20%) ....................................................................................................................................................................... (8) 1-----......:-r~
9. Surtax (See instructions) ...................................................................................................................................................................................... (9) 1------~1-F:,.,t
10. Amount of recapture (See Instructions) ................................................................................................................................................................. (10)1-------"-"""'-~
11. Special tax (See instructions) ............................................................................................................................................................................... (11)1-------"-I:S':+I
12. Total Tax (Add lines a through 11) ....................................................................................................................................................................... (12)1--------:-+:-::'::-f
13. Alternative Tax· Capital Gains (ScheduleD Corporation and Partnership, Part VIII, line 61) .................................................................................. ''"'1-------"-r.;::,;i
14. Tax Determined (Line 12 or 13, whichever Is smaller) .........................................................................................................................................
15. Recapture of credit claimed in excess (Schedule B Corporation aild Partnership, Part I, line 3) .......... ................................................................... (15) 1-------'-~H
16. Tax credits (Schedule B Corporation and Partnership, Part II, line 24) ................................................................................................................. (16)1--------:trl
7. Tax liability beFore alternative minimum tax (Subtract line 16 From the sum of lines 14 and 15) ........................................................................ (17)1------...::..1'7H
18. Alternative minimum tax (Schedule A Corporation and Partnership, Part V, line 33) ............................................................................................... (18) J-------~:"-1
19. Branch profits tax (Form AS 2879, line 11) ........................................................................................................................................................... (19)1-----~+.'::::-i
20. Tax on eligible interest (See instructions) ............................................................................................................................................................. (20) 1-------::-1+--::Y
21. Total Tax Liability (Add lines 17 through 20) ...................................................................................................................................................... (21)
22. Less: Other Payments and Withholdings (Schedule B Corporation and Partnership, Part Ill, line B) .................................................. ................ (22) J - - - - - - - t - = " ' - 1
23. Balance of tax due (If line 21 is larger than line 22, enter the difference here,
otheiWise, on line 25)
a) Tax ................................................................................................................ (23a) 1 - - - - - - - : - h : " ' ' r l
b) Interest ........................................................................................................... (23b) 1 - - - - - - : : + S i
c) Surcharges ..................................................................................................... (23c) 1--------'-'-""'"+------:-r=f
d) Total (Add lines 23(a) through 23(c)) .............................................................................................................
24. Addition to the Tax For Failure to Pay Estimated Tax (Schedule T Corporation and Partnership, Part Ill, line 46) ............................................
25. Excess of tax paid or withheld (See instructions) .................................................................................................................................................
26. Amount paid with this return (Add lines 23(d) and 24 less line 25) ......................................................................................................................
27. Amount overpaid (Substract lines 22 from the sum of lines 21 and 24. Distribute line 25 between line A or B):
A. To be credited to estimated tax ror 2006 ...............................................................................................................................................
B. To be reFunded ....................................................................................................................................................................................
B.

ConseJVation Period: Ten (10) years

Form 480.20 Rev. 05.05

Corooratlon • Paae 2

1. ~~~~~~~~~r·9~~d~-·~~i;j·~;·d,~~·~t·~~~·i~·~r·j;;~d~~ii~~··

................................................................................... t1)1---....:t....:t.:;..7....:87""•....:s5:..;s+•.,: ,o, ~o:;. .f".

2. Inventory at the beginning of the year
0 'C" D "C" or "MV"
(a) Materials...........................................................................................
(b) Goods in process ........................... ...................................................
(c) Finished goods or merchandise.........................................................
3. Purchase of materials or merchandise............................................................
4. Direct wages ...................................................................................................
5. Other direct costs (Detail in Part VI) .................................................................
6. Total costs of goods available for sale (Add lines 2through 5) .........................
7. Less: Inventory at the end of the year
D "C" D 'C" or "MV"

(2a) 1------'o::....e;.li~!!\Hh
(2b) 1-------'o:..+.~~·o:Ho"
(2c) 1-------'o=+.~;:,ilfo;a~.
(3) l----'-t2=00"'3"'0""4"'5-E*:o~"""'nH':
(4) l-------"o~1'lb~~o
·:
8
{51 1------o~~;;;:o·"'~o:
(6) l---~t2;,:.0;:.::0:;;:.3.::0;!.:45::....j:~~·o~ir

:\~~r

·;oo

V:

·;:::··

I::;'~"

1~i

li/.

~~.::•:;

I;._:~;
{?';
ff~'

o>'{

I :·:,<·~·~·:

0
(a) Materials ............................................... (7a) 1-------....::..f-'¥!'4
t • •
0 t.OO
(b) Goods in process.................................. (7b) 1------::....+:~
. ·. ·
.
2 003 045
0 76Q
(c) Finished goods or merchandise .............. (7c) ~--------"-'-'-""-"'------0~-=- _ _....:..::;=:=;"'-'-'-""+-------,=:::1
iio.._
.
'
f2t5 487' ;,'6{{
8. Gross pro fit on saIes or pro ducuon (S ubtractt he resu Ito f I"me 6t ess I"me 7, .rom I"me 1) ...................................................................................... (B) 1------'~~:!.!....l.~c,.J
1
9. Net capital gain (Schedule DCorporation and Partnership, Part VII, line 34) ............. .......................................................................................... (9) r------7-lf.":'':::i
0 :iJilf:
0
10. Net gain (or loss) from the sale of properly other than capital assets (ScheduleD Corporation and Partnership, Part IX, line 62) ....................
{10lr-------:-i~'rl
0 Wibt
11. Rent .................................................................................................................................................................................................................. (1111------::....j.i~
0 ~no:
12. Interest ....................................................................................................,......................................................................................................... {1211------...=....,E'i-1
0. ro!i1
13. Commissions ................................................................................................................................................................................................... (13)1------~,~H
0 ~Jili;
14. Dividends from corporations and profits from partnerships: (a) Domestic
0
(b) Foreign
o
(14)1------...=....,~;-:-t
0
15. Distributable share on net income from special partnerships (ScheduleR, Part !I, line 8) .................................................................................... (15)1------~R;,;.J
16. Distributable share on net losses from special partnerships (ScheduleR, Parlll, line 13) .................................................................................... {16)1------..!!..j~H
0 <oo~
0 t'ii[f
17. Taxable farming proflt (ScheduleS Corporation and Partnership, Part!, line 9) ................................................................................................... (17lr-------"-b"'H
0 :rolh
10. Freight and fares ............................................................................................................................................................................................... (1Blr-----~~!!H
19. Miscellaneous income ....................................................................................................................................................................................... (19lr-_ _ _ _ _....:o'-Pii'::'oo~;
20. Total gross income (Add Jines Bthrough 19) ...............................~ .................................................................................................................. (20)
(215,487) .;.:Ql)~~

totr

roo:

Item

>
!:!
"'

c..

g

1. Salaries, wages and bonuses ............................
2. Social security tax (FICA) ...................................
3. Unemployment tax .............................................
4. Stale Insurance Fund premiums .........................
5. Medical or hospllalizallon Insurance ...................
6. Other insurance ..................................................
7. Excise taxes ......................................................

Amount
(1)
{2)
(3)

(4)
(5)
(6)
(7)

Item

0 "M' 8. Repairs ................................. ,............................... (B)
0 ·rnr 9. Utilities .................................................................. (9)
0 ~ao·. 10. Flexible depreciation (Submit Schedule E) .............. {10)
0 roo: 11. Accelerated depreciation (Submit Schedule E) ........ (11)
0 ::~xt 12. Current depreciation (Submit Schedule E) ............. (12)
0 ''00 13. Other expenses (Submit detail) ............................. (13)
0 "oo 14. Total other direct costs (Add lines 1lhrough 13. Same
,\.~i
as Part IV. line 5 ................................................... {14)
Conservation Period: Ten (10) years

Amount
0 'iJO
0 ::oo'
0 too::
0 ~mt
0 Joo:
0 {iJb:.
0

r~&:
··::'.~:;.'•

Computer Experl Group

Form 480.20 Rev. 05.05

Corpora lion- Paqe 3

m

Corporation· Comparative Balance Sheet
Beginning of the Year
· '.,:':·, ...,...,...,....,....--E-:-nd~in-::Og""'oTft_he_Y_e_a_r-,=r----t
..
''\''Y'
total
"··. r 17 ... ,
,
.... ~2\'.:";:;
Total

Assets
(1)
(2)
(3) (
(4)
(5)
(6)
(7)
(8) (

1. Cash on hands and in banks ................
2. Accounts receivable .............................
3. Less: Reserve for bad debts ................
4. Notes receivable ..................................
5. Inventories ...........................................
6. Investments .........................................
7. Depreciable assets ..............................
8. less: Reserve for depreciation .............
9. Land ....................................................
10. Other assets ........................................
11. Total Assets .......................................

(9)

(10)
(11)

Liabilities and Stockholder's Equity
Liabilities

s;
~

&: 12. Accounts payable ...............................
13. Notes payable .....................................
14. Accrued expenses ..............................
15. Other liabilities ....................................
16. Total Liabilities ..................................

(12)
(13)
(14)
(15)
(16)

E!i)

Reconciliation of Net Income (or loss) per Books with Net Taxable Income (or loss) per Return
(896,116) 'too' 7. Income recorded on books this year not included on this
2. Income tax ............................................ 12
o '/ofi
return (Itemize, use schedule if necessary)

l;}j:•
It~

1. Net income (or Joss) per books.............. (1

3.

:~~:s.~..~~.~~:.~~~~-~~~-~~~-~~~~-~~:.~~~~-...

13l
4. Taxable income not recorded on books this year

0

~~-----------"0:'-

~

Total......................................................

~

(c)

o

':~;

l~l ~~"1 ......................................................................:.
, ~:;~:!~=::~:::::::.~·:

1:r""'· "" ""''"'' """""'ry) ,
5

:~~:' ~? Exempt

(4)

5. Expenses recorded on books this year not claimed
on this return (llemize, use schedule if necessary)

0

~~

(b)

NOLPriorYcors

2,343 249

:•<

~{;

•

l -_ _ _

_ _ ,o,; ,; i.'a·"'·:7 1~:

I

"·" .·

L.- :_~·~;_ :_.·~_,;.·

(c)
_n_
(d)
o
'':;
Total ........................................................................
(BJ l---.=.2.::_34;!;:3:..:2::!.49::..r.-'*!oo~
Total (Add lines and
(9)1---2'"''1.2!1..!.4·1"""""-;-:;.Jj"H'()
24'9-t'
10. Net taxable income (or loss) per return (Subtract line
'Af
9 from line 6) ........................................................... (10) .__ __,(~3,::o;23:..:.9~,3.;..3'-'-I).L.:~oo'-''
..•..
..

(a) Meal and entertainment (amount
:~
not claimed)
_1.<l
,.-.
(b)Depreciation
n
(c)
n
(d)
0
6. Total..................................................... (5)1------=3::!.4+''*oo!H"
Total (Add lines 1 through 5) .................. (Gl
(896 082)
Analvsis of Retained Earninqs per Books
m
1. Balance at the beginning of the year..... (1)
14 732 192 .''ali' 5. Distributions:
(a) Cash .................................... (Sal 1-----~o::-+:-io::o~,
(896.116 :'60':
(b) Property ............................... (SbJ 1------:-o-+!-f':t'l.*'O,
2. Net income per books ........................... (2)
0-::"
(c) stoe ks_.................................. (s cl 1------t;;;;'.f-1··
o .:.·_o,o_.'
3. Other increases (Itemize, use schedule if
_},;:
necessary) _ _ _ _ _ _ __
·, ':i,'' 6. Other decreases (Use schedule tf necessary) ............. (61 l----'>~3~6.t.:.72..,3~o~or.·i,oiJ:-~·•

9.

7 B)..........................................

!oo'

::s
~

(3J

4. Total (Add lines 1, 2 and 3) ................... (4)

t------o+e.,~Bi ~: ~~\:ln~:~:i~:: :n~n:f~h·~-;~~~·~;;~·b~;~·~·~-~i~~·7·r~~~.. t7J t----'1""3c::.67:.::2:..::3c::.oo:o..;-;;.:::.:~::-~'
>3,836,076 ,L~fi
line 4) ........................................................................... (BJ
163,776 ~i,
Conservailon Penod. Ten (10} years

Computer Experl Group

Form 480.20 Rev. 05.05
Name or officer

1. If a foreign corporation, indicate if the trade or business in Puerto
Rico was held as a branch ....................................................................
2 If a branch, indicate the percent that represents the income from sources
within Puerto Rico from the total income of the corporation: _ _ _%
3. Is the corporation under Section 936 of the Federal Internal Revenue
Code? .................................................................................................. (3)
4. Did the corporation keep any part of its records on a
computerized system during this year? .......... ....... ................................ (4)
5. The corporation's books are in care of:
Name The Corporation
Address P.O Box 421688
Houston TX 77042
6. Indicate the accounting method used for book (tax) purposes:
D Cash
lXI Accrual
OOther (specify): _ _ _ _ _ _ _ _ _ _ _ _ __
7. Did the corporation file the following documents?:
(a) Informative Return (Forms 480.5, 480.6A, 48D.68) ..........................
(b) Withholding Statement (Form 499R-2/W-2PR) ................................. (7b)
8 if the gross income exceeds Sl,OOO,OOO, are nnancial
statements audited by a CPA licensed in Puerto Rico included with this
return? ................................................................................................. tal

9. Number of employees during the year:
0
1Q Did the corporation claim a deduction for expenses
with:
(a) Vessels?
(b) Living expenses?
(c) Employees ancnding conventions or meetings outside Pucllo Rico or
the United States? ..........................................................
11. Did the corporation distribute dividends other than stock dividends or
distributions in liquidation In excess of the corporation's current and
accumulated earnings?
12. Is the corporation a partner in any special partnership? ......... .
Name of special partnership _ _ _ _ _ _ _ __
Employer identification number _ _ _ _ _ _ _ __
13. Is the corporation a member of a controlled group? ................ ''"'t-L<U
14. Enter the amount of exempt interest: _ _ _ _ _ __
15. Enter the amount corresponding to charitable con~ibullons to municipalities
included in Part V, line 43: _ _ _ _ _ _ _ _ __
16. Indicate if insurance premiums were paid by an unauthorized
insurer
....,.-..,...,.~
17. Employer's number assigned by the Department of labor and Human
Resources: -;;;:j;h,M;;-~------:;::7"'\___
18. Number of ~~

We, the undersigned, president (or vice-president, or
tax return is made, each for himself declare under
the best of our knowledge and belief is a true,
amended, and the, and the Regulations thereunder.

A/t?Til/lY PI/IJJ.IC
Title of the pmson adnvniste~ing oaU1

I declare under penally of pedutY !hal this return (including schedules and statements allached) has been examined by me, and lo !he best or my
and complete return. The declaralion of the person who prepares this return is wilh rcspccllo the inrormallon received and !his may be verified.

belief Is a true, correct,

Schedule A Corporation
and Partnership

Rcv.os.os

200_5_

ALTERNATIVE MINIMUM TAX

0
TaKable year beginning on

I . 2205 and ending on

12

1 31 .WQL

Employer Jdentificalion Number
76-0235183

1. Net income subject to normal tax without considering net operating Joss from preceding years and excluding the net capital gain
that you had elected to pay taxes at the special rates (See instructions) .............................................
2. Adjustments:
a. Flexible deprecialion .................................................................................
b. Installment sales ..............................................................................................
c. Long - term contracts .........................................................................................
d. Expenses related with exempt interest ..............................................................
e. Accelerated depreciation .................................................................................. (2e) ~--------_.:;._"""""'+------,.,.~
r. Total adjustments (Add lines 2(a) through 2(e)) .............................................................................................
3. Alternalive minimum net income before the adjustments of Part II and the
loss (Add lines 1 and 2(Q) ..............................
4. Net income (or Joss) per books ............................................................................................................
5. Goodwill amortization expense ...........................................................................................................
6. Income tax expense per books ............................................................................................................
7. Add lines 4, 5 and 6 ............................................................................................................................
8. Exempt interest income net of related expenses ............ .......... ............................................................ (8) 1-----_.:;._~~
9. Dividends and profit distribulions received from domeslic corporations or partnerships, or from
industrial or tourtsm development income .... ........................................................................................ (9l 1-----.....::....+-:=,:~
10. Industrial development income, exempt tourism development income or bonafide agricultural business
income................................................................................................................................................ (10l 1-----....:::..-~+;H
11. Income (or loss) recognized under the equity method ........................................................................... (11) 1-----.....::....*""'""
12. Reserve for catastrophic losses........................................................................................................... (12) 1------::-~;..J
13. Net long-term capital gain (See instruclions) ........................................................................................ (13) ~-------.L.:::'+------..,.,,.,-J
14. Add lines 8 through 13 ..................................................................................................................................................................
15. Subtract line 14 from line 7 ..........................................................................................................................................................
16. Subtract line 3 from line 15. If line 3 is larger than line 15, enter zero ...........................................................................................
17. Adjustment for the excess of the adjusted net income per books over the alternalive minimum net income of line 3 (Multiply line
50%) .......................................................................................................................................................................................
18.
net income
.....................................................................
19. Net operating loss to determine the alternative minimum tax (See lnstruclions) ..... .................................. ......................... .......... ...
20. Subtract line 19 from line 18 (Enter here the difference, but not Jess than 10% of line 18) .............................................................
21. Exempt amount (See instructions) ................................................................................................................................................
22. Alternative minimum net income (Subtract line 21 from line 20) ......................... .... .............. ........................................................

(18) f---.l.2Z.~~~

(19) t-------"-1~::1

(20l

1-------"--b't':!'i

(21) 1------'~~~~
(22)

23. Tentative minimum tax (Multiply line 22 by 22%) ..........................................................................................r:===:.:::.:.:=~4l-----_..!.~!.!4
24. Alternative minimum net income before net operating Joss deduclion (Line 18) ................................... (24) r - - - - - _ , _ * ' i ' : H
25. Allowable exempt amount without considering the net operating Joss (See instruclions) .... .................. (25) r------""~o,-t
26. Subtract line 25 from line 24 ............................................................................................................... (26) r-------=-++::"i
27. Multiply line 26 by 22% ...................................................................................................................... (27) L---------1=+-------.~
28. Mulliply line 27 by 10% ................................................................................................................................................................ (28) 1-----~~
29. Credit limitation (Subtract line 28 from line 23) .............................................................................................................................. (29) 1-----....::....:~!:'t
30. Alternative minimum credit for foreign taxes paid (This amount cannot exceed the amount on line 29.
~e

31. Tentative minimum tax (Subtract line 30 from line 23) ...................................................................................................................
32. Adjusted regular tax (See instructions) .........................................................................................................................................
33. Alternative minimum tax (Subtract line 32 from line 31. If line 32 is larger than line 31, enter zero, otherwise, enter the difference
on Form 480.10 or
Part Ill, line 1

~

(31)1-----_.:;._ffi':i

Schedule B Corporation
and Partnership

Rcv.OS.OS

RECAPTURE OF CREDIT CLAIMED IN EXCESS,
TAX CREDITS, AND
OTHER PAYMENTS AND WITHHOLDINGS

200_5_

Taxable

76-0235183
Recapture of Investment Credit and Conservation Easement Claimed in Excess
Name of entity:
Employer identification No:
Credit for:
Tourism Development _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 1 0 _- _________ - --- -- Solid Waste Disposal ______________________ • 2 0 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

1 0 ---- - -- --- - ----- .

0 _ _ __ _ _ _ _ __ _ _ _ __ _ _
3 D - - ------ --------2

1 0

0
3 D
2

Agriculturallncenlives- - - - - - - - - - - - - - - - - - - - - - - 3 0 - - - - - - - - - - - - - - - - - Capilallnvestment Fund - - .... - - - - - - - - - - - - - - - - • 4 D - - - - - - - - - - - - - - - - - .. 4 D - - - - - - - - .. - - - - .. - - - 4 D
Theatrical Distnct of Santurce - - - - - - -- - - -- ---- - -- 5 D - - -- --- --- -- - -- - - - 5 D ---- - -- - --- ----- - 5 D
Film Industry Development - - - - - - - - - - - - - - - - - - - - 6 D - - - - - - - - - - - - - - - - - - 6 D - - - - - - - - - - - - - - - - - 6 D
Housing Infrastructure
- - - - - - - - - - - - - - - - - - - 7 0 - -- - - - -- -- -- -- -- - - 7 0 - - -- - - -- - - - - - -- - - 7 0
Construction or Rehabilitation of Rental Housing Proyecls for Low or
Moderate Income Families- - - - - - - - - - - - -- - - - - - - - 8 0 - - - - - - - - - - - - - - - - - - 8 0 - - - - - - - - - - - - - - - - - 8 0
Acquisition of an Exempt Business That Is In the Process of Closing
its Operation In Puerto Rico ___________________ • 9 D _________________ .. 9 D __ .. _.. ______ .... ____ 9 D
ConservatlonEasement---------------------· 100------------------ 100----------------- 100
Other:
-----------· 11 D ------------------ 11 D ----------------- 11 D
1. Total credit claimed in excess
(1)
2. Recapture of credit claimed in ex"cess-p'iid-in previous-yeai; ff
(2) 1------,~
3. Recapture of credit claimed in excess paid this year (Enter on Form 480.10 or 480.20,
Part Ill, line 15. See instructions)_ .. ____ .. ___________________________________ .. ______ .. _ _ _ (3)
4. Excess of credit due next year, if applicable (Subtract lines 2 and 3 from line 1. See instructions)__ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ (4) 1-------::-1~

applicable_---:::--:_---:::_-_-_-_-:_-_-_-:_-_-_-_-_-:

Tax Credits (Do not include estimated tax payments. Refer to Part Ill of this Schedule)
1. Credit for taxes paid to the United States, its possessions and foreign countries (Schedule C Corporation and Partnership,
Part IV, line 7) _________________________________________________ .. ___ .. __ .. .. .. .. .. ..
2. Credit for increase in investment (See instructions) __ .. _____________________________ .. _ .. _______ •
3. Credit for investment in Capital investment, Tourism, other funds or direct Investment (Submit Schedule Q) _____ .. _ .. _ _ _
4. Credit attributable to losses in Capital investment, Tourismor other funds (Submit Schedule Qand Q1} _ _ _ _ _ _ _ _ _ _ _ _ _
5. Credit for Contribution to the Educational Foundation for Free Selection of Schools (See
- - -- --- - - - -- -- •
6. Credit for alternative minimun tax paid in previous years (See instructionsl .. __________ .. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
7. Credit for the purchase of tax credits (Complete Part IV) (See instructionsl .... ______ .. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
8. Credit for investment Act No. 362 of 1999:0 Film Project and/or D Infrastructure Project (See Instructions) ---- -- - -9. Credit for investment in Housing Infrastructure (See instructions). ________ --- --- -- -- ___ - .. -- - -- -- -- .. 10. Credit for investment in the Construction or Rehabilitation of Rental Housing Projects for Low or
.
Income Families (See instructions) _______ ------ ______ --------------------------------.
11. Credit to investors in an exempt business that is in the process of closing its operations in Puerto Rico (See
12. Credit for purchases of products manufactured in Puerto Rico and Puerto Rican agricultural
(Submit Schedule B Corporation and Partnership}.. _________________________________________ _
1
13. Credit for contributions to Santa Catalina's Palace Patronage (See
__________________________ ..
14. Credit for the establishment of an eligible conservation easement or donation of eligible land (See
_________ ..
15. Credit for construction investment in urban centers (See instructions)________________________________ .
16. Credit for merchants affected by urban centers revitalization (See instructionsl. _________________________ _
17. Exemption for persons that operate as publisher (See instructions}_ _________________ .... ___ .. _________ _
18. Exemption for persons that operate as printer (See instructionsl. ___________ .. __________ .... __ .... _____ •
19. Exemption for persons that operate as bookseller (See Instructions)_ _____ .. _____ .. _ .... _ ...... _________ .. __ _
20. Credits carried from previous years (Submit detaill _________________________________________ _
21. Other credits not included on the preceding lines (Submit detail} (See
__ .. ______________________ •
22. Total Tax Credits (Add lines 1 through 211 .. ______________ .. ___ .. _----- .. -------- .. - .. --------23. Total tax determined (Form 480.10 or 480.20, Part Ill, line 141 .. ______________ .. ___________________ _
24. Credit to be claimed (The smaller of line 22 or 23. Enter on Form 480.10 or 480.20, Part Ill, line ______________ _
25.
credits (Subtract line 24 from line 22. Submit detail~ _______________ - ___________ - - - - - - ConseNation Period: Ten {10) years

(1) f-----.,...r:~
(2} t------t=~
{3} t------"-1-::':!"i
(4} t------"-1-:'eH
(5} t------=-t~
(6} 1-----;;-1-*1

(7} 1-----'-:~

(8} t------::-1~-*f~

(9} l----~t-7ii

Other Payments and Withholdings
1. Tax paid with automatic extension of lime-------------------------------------------------. (1) 1-------"-1-;;,;;;t
2. Estimated tax payments for 2005 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - . (2l 1 - - - - - - = - - f = t
3. Tax paid in excess on previous years credited to estimated tax (See instructions)------- ________ ---- ______ (JJ r------=-==;~
4. Tax withheld at source ------------------------------------------- __ ---------- ___ --- (4) 1 - - - - - - - " - - = t
5. Services rendered (Form 48D.6B) ______________________________________________________ (SJ t------"-1~
6. Tax withheld at source on distributable share to partners of special partnerships (Form 480.6 SE)--------------- (6J 1-------"'-l~
7. Tax withheld at source on elegible interest------------------------------------------------ .(7J 1------=--f~
8. Total Other Payments and Withholdings (Add lines 1 through 7. Enter on Form 480.10 or 480.20,
Part Ill, line 22) - _---------- ---- --- ----- _________________________________________ (8J
Breakdown of the Purchase of Tax Credits
Check the block corresponding to the act (or acts) under which you acquired the credit and enter the
1. 0 Tourism Development ___ ----- ____ -- ----- ________________________ .. ______ _________
2. 0 Solid Waste Disposal- - -- - - - - - -- -- - - ----- -- - -- - ---- --- -- - --- - - - - - - -- --- -- -- - -- -- .
3. 0 Agricultural Incentives___ ________ _______________________________ _________________
4.
5.
6.
7.

0 Capital Investment Fund - - -- - - - -- - - - - - -- -- --- --- - -- - - --- - -- -- - -- --- - - - - - - -- -- - - --

0
D
D
8. D
9. 0

Theatrical District of Santurce.. ---- - --- - --- - - - - - --- -- - - --- -- -- --- -- - -- -- ---- -- -- - - - - Film Industry Development-- - - - - - - - - - - --- -- -- - - -- - -- - - ----- --- - --- - - - - - - -- -- -- - ---.
Housing Infrastructure ___________________________________________________________ .

Construction or Rehabilitation of Rental Housing Projects for Low or Moderate Income
- - - - - - - - - - -- - Acquisition of an Exempt Business that is in the Process of Closing its Operations in Puerto
- - - - - - - - _ - _- _
D Conservation Easement-- --- - - - - - - -- -- ---- _________ - - _______ -- - -- ___ .. ______ ______
1. D Urban Centers Revitalization--- --- -- - - -- -- -- --------- ----- -- - -- -- - - - - - - - - - - - - - - - - - 2. D Other:
3. Total credit for the

(1l

(2J
(3)
(4J

(sJ
(6)

(7J
(8J
(9J
(10l 1-------1-~

(nJ 1--------=...f~
f-------t~

(12)
(13)