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)
Schedule D Corporation
Rev. 05.05 and Partnership
GAINS AND LOSSES FROM SALE OR EXCHANGE OF PROPERTY
Taxable year beginning on
I
I I
2005 and ending on
12
200 5
e
I 31 2005
Taxpayer's Name
Pctrobras America, Inc.- Puerto Rico Operations
..
Employer Identification Number
76-0235183
Short-Term Capital Assets Gains and Losses (Held 6 months or less)
(A)
(B)
Date Sold
(D)
Adjusted Basis
(C)
Date Acquired
Description and Location of Property
Sale Price
(F)
(E)
Gain or loss
Selling Expenses
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(C)
Sale Price
(D)
Adjusted Basis
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(Act No. 226 of 2004)
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7. Net long-term capital gain (or loss) ............................................................................................................................................................................................................
8. Distributable share on net long-term capital gain (or loss) from Special Partnerships ...................................................................................................................................
9. Net long-term capital gain (or loss) attributable to direct investment and not through a Gapitallnvesment Fund (Submit detail) ....................................................................
10. Net long-term capital gain (or loss) from property located in P.R. (Add lines 7 through 9) ...................................................................................................................
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1. Net short-term capital gain (or loss) ................................................................................................................................................................................................................................................
2. Net short-term capital gain (or loss) from investment funds (Submit Schedule Q1) ..........................................................................................................................................................................
3. Distributable share on net short-term capital gain (or loss) from Special Partnerships .....................................................................................................................................................................
4. Net short-tem capital gain (or loss) attributable to direct investment and not through a Capital Investment Fund (Submit detail) .....................................................................................................
5. Net capital loss carryover (Submit detail) ........................................................................................................................................................................................................................................
6. Net short-term capital qain (or loss) (Add lines 1 throuqh 5) ........................................................................................................................................................................................................
Long-Term Capital Assets Gains and Losses (Held more than 6 months) (Property located in PR- Section 1121 (c)(2)(A) and 1121(c)(4)(A)
Description and Location of Property
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Long-Term Capital Assets Gains and Losses (Held more than 6 months) (Other Properties- Section 1121(c)(2)(C) and 1121(c)(4)(C))
Description and location of Property
(A)
Date Acquired
(B)
Date Sold
(D)
Adjusted Basis
(C)
Sale Price
(G)
Gain or loss
(Act No. 226 or 2004)
(F)
(E)
Gain or loss
Selfing Expenses
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11. Net long-term capital gain (or loss) ............................................................................................................................................................................................................
12. Distributable share on net long-term capital gain (or loss) from Special Partnerships .................................................................................................................................
13. Net long-term capital gain (or loss) attributable to direct investment and not through a Capital Investment Fund (Submit detail) .................................................................
14. Net lonq-term capital gain (or loss) from other properties (Add lines 11 throu~h 13) ............................................................................................................................
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(11)
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16. Distributable share on net long-term capital gain (or loss) from Special Partnerships ....•..............•..•.•••...•......•...••.•......................................•...........................................•.•.
17. Net long-term capital gain (or loss) attributable to direct investment and not through a Capital Investment Fund (Submit detail) ..........................•.........................•.•...•.•......
18. Net lono-term capital oain (or loss) of shares from eligible Corporation or Partnership (Add lines 15 through 17) ...............................................................................
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Description and Location of Property
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(A)
(B)
(C)
Date Acquired
Date Sold
Sale Price
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Taxpayer's Name
Petrobras America, Inc. -Puerto Rico Operations
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Employer Identification Number
76-0235183
Summary of Capital Gains and Losses
Column B
ColumnA
Gains or Losses
24. Enter the gains determined
on lines 6, 10, 14, 18, 22 am
23 in the corresponding
Column ....................... (24)
25. Enter the losses determined
on lines 6, 10, 14, 18,22 am
23 in the corresponding
Column ....................... (25)
Column C
Property Located in
P.R. (Act No. 226 or 2004)
Prop. Located in
P.R.
Short-Term
Column D
Column F
Shares Eligible
Corporation or
Partnership
Column E
Other Properties
Other Properties
(Act No. 226 or 2004)
Column G
Shares Eligible
Corporation or
Act.
Column H
Partnersh~
No. 225 o 20041
Column I
Under Act No. 40 of
2005
Under Special
Le!lislation
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26. If one or more of Columns Bthrough I reflect
a loss on line 25, add them and apply the
total proportionally to the gains in the other
Columns (See instructions) ...........................
27. Subtract line 26 from line 24. If any Column
reflected a loss on line 25, enter zero here ....
28. Apply the loss from line 25, Column A
proportionally to the gains in Columns B
through l (See instructions) ............................
29. Subtract line 28 from line 27 .........................
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30. Add the total of Columns B through !,line 29. However. if line 24 does not reflect any gain in Columns Bthrough I, you must enter the total amount of fine 25, Columns
A through 1......................................................................................................................................................................................................................................................................................
(30)
31. Net capital gain (or loss) (Add line 24, Column A and line 30) ...........................................................................................................................................................................................................
{31)
32. Enter excess of net short-term capital gain over net long-term capital loss (See instructions) ...........................................................................................................................................................
(32)
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33. Enter excess of net long-term capital gain over net short-term capital loss (See instructions) ........................................................................................................................................................... {33)
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34. Net capital gain (Add lines 32 and 33. Enter here and on Form 480.10 or 480.20, Part IV,line 9 or on the appropriate line of other returns)
ConseMtlon Pertod: Ten {10) yeaJS
{34)
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ScheduleD CoiJ)otation and Partnership- Paqe
•u>rormon~r•nn of Alternative Tax- Capital Gain
(a) Form 480.10 or 480.20, Part II, line 5
~~~ ~::r~u~eE~t~~c;:ti:~~:n:~!·~i:e7appropiate line of the return ..........................................................................................................................................
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35. Net income
36. Enter the amount from line 29, Column B..............................................................................................................................................................................................................................
37. Enter the amount from line 29, Column C .............................................................................................................................................................................................................................
38. Enter the amount from line 29, Column D.............................................................................................................................................................................................................................
39. Enter the amount from line 29, Column E..............................................................................................................................................................................................................................
40. Enter the amount from line 29. Column F ..............................................................................................................................................................................................................................
41. Enter the amount from line 29, Column G.............................................................................................................................................................................................................................
42. Enter the amount from line 29, Column H.............................................................................................................................................................................................................................
43. Enter the amount from line 29. Column 1...............................................................................................................................................................................................................................
44. Net income for purposes of alternative tax- capital gain (Subtract lines 36 through 43 from line 35) ......................................................................................................................................
COMPUTATION OF NET INCOME TO DETERMINE ALTERNATIVE TAX
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45. N~ Jooom' Joe
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(35)
(37)
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(42)
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48. Partial normal tax (Multiply line 45 by 20%) ..........................................................................................................................................................................................................................
49. Surtax .................................................................................................................................................................................................................................................................................
50. Amount of recapture .............................................................................................................................................................................................................................................................
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53. Plus: 12.5% (property located in Puerto Rico) of the amount on line 36 ................................................................................................................................................................................ (53}
54. Plus: 6.25% (property located in Puerto Rico (Act No. 226 of 2004)) of the amount on line 37 ............................................................................................................................................... (54}
55. Plus: 25% (other properties) of the amount on line 38 ........................................................................................................................................................................................................... (55}
56. Plus: 12.5% (other properties (Act No. 226 of 2004)) of the amount on line 39 ..................................................................................................................................................................... (56}
57. Plus: 7% (shares from eligible corporation or partnership) of the amount on line 40 ............................................................................................................................................................... (57)
58. Plus: 3.5% (shares from eligible corporation or partnership (Act No. 226 of 2004)) of the amount on line 41........................................................................................................................... (5SJ
59. Plus: 20% (Act No. 40 of 2005) of the amount on line 42 ...................................................................................................................................................................................................... (59)
· 60. Plus: __% (under special legislation) of the amount on line 43 (enter applicable percent) ............................................................................................................................................... (GO)
61. Alternative Tax- Capital gains (Add lines 52 through 60. Enter the total here and transfer to Form 480.10 or 480.20, Part Ill, line 13 or to the appropiate line of other returns)..................... (61)
~Gains
(or Losses) from Property Other than Capital Assets
..
.
Descnption and Location of Property
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(44)
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46. Less: Credit for purposes of surtax (From the appropiate line of the return) ........................................................................................................................................................................... (461
47. Net income subject to partial surtax ..................................................................................................................................................................................................................................... (47}
COMPUTATION OF ALTERNATIVE TAX
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(A)
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(C)
sale Price
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(D)
Adjusted Basis
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62. Net gain (or loss) from property other than capital assets (Enter here and on Form 480.10 or 480.20, Part IV, line 10 or on the appropiate line of other returns)
Conservation Pertod: Ten (10} years
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Gain or Loss
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Schedule T Corporation
Rev.os.os and Partnership
ADDITION TO THE TAX FOR FAILURE TO PAY
ESTIMATED TAX IN CASE OF
CORPORATIONS AND PARTNERSHIPS
Taxable year beginning on.
1a~pay~rs
!relrob;.,._,·
I
1 1 , 2QQi
and ending on.
12
1 3I
200_5_
IG t:mployer
.1l!N
Name
- Puerto Rico Operations
'u""""~u"v"
Number
76-0235183
tstlmc:nd Tax Required
1. Tax liability (Add lines 14, 15, 18 and 20 of Part Ill, page 1 of the return)...........................................................................................
2. Credits and overpayments (See instructions) ....................................................................................................................................
3. Estimated tax (Subtract line 2 from line 1. If it is zero or Jess, do not complete this Schedule) .........................................................
4. Line 1 multiplied by 90% ...................................................................................................................................................................
5. Subtract line 2 from line 4 (If it is zero or Jess, enter zero) .................................................................................................................
6. Tax to be paid based on the income tax return from previous year (See instructions) .......................................................................
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) .............................................................................................................
B. Enter the smaller of lines 5, 6 and 7 ........ ,
.........................................................................................................................
Section A · Estimated Tax to Be Paid per Installment Placing the Net Income on an Annual Basis
Firs~a_l_
9. 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
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..
..
15. Determine the recapture on the net income placed on an
annual basis of line 12 ...............................................................................
16. Determine the Alternative Tax- Capilal Gains...........................................
17. Tax Determined (Enter the smancr beiWeen the sum of fines 13through 15, or fine 16) .... ......
18. Enter the recapture of credit not claimed in
excess or others.......................................................................................
19. Determine the alternative minimum tax on the net income
placed on an annual basis of line 12 ..........................................................
20. Total annual basis tax (Add lines 17 through 19} .......................................
21. Multiply line 20 by 90% ...........................................................................
22. Enter the credits and other payments per period (See instructions) ..........
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25. Subtract line 24 from line 23 (If it is Jess than zero, enter zero) ..................
26. Number of installments.............................................................................
27. Estimated Tax to be Paid per Installment Placing the Net Income on
Annual Basis (Line 25 divided between line 26) .......................................
Section B- tsumared Tax Required
28. Subtract line 24 from line 8 .......................................................................
29. Number of installments .............................................................................
3Q, Line 28 divided between line 29 ""'""""""""""""""""""'""'"""'"""'"'
31.
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Conservallon Pertod: Ten (10) years
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IX] CALENDAR YEAR
0
FISCAL YEAR (Enter the corresponding dates)_ .................. _
33. Amount of minimum estimated tax per installment (If you
completed Section A and B of Part I, enter line 31. Othmwise,
see instructions) ................ - .. - - - ........ - - - .. - .. - .... - - 34. Amount of estimated tax paid per installments (See instructions}-_ -.
35. Payment date (See instructions)_ ____________________ _
36. Line 42 from previos column.. __ .. _.. __________ .. _____ _
37. Add lnes 34 and 36 _ .. ___ .. ________ .. ______ .. __ .. __ •
38. Subtract line 33 from line 37 (If its zoero or less, enter zero~ ____ _
39. Failure to Pay (If line 38 is zero, subtract line 37 from line 33.
Otherwise, enter zero)_ _________________________ .
40. Add lines 39 and 41 from previous column. __ .. _ .. ___ .... _ .... _ ..
41.1f line 40 is equal or larger than line 38, subtract line 38 from
line 40 and go to line 36 of next column. Otherwise, go to line 42. .... _
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, enter
zero) _________ .. _______________ .. _.. ___ .. ___ ..
(32) l====::;::::+=====r~====~P.====~
(42)
43. Multiply line 39 by 20% (See instructions~ ___________ .. _.. _ _ _ (43) 1----..:...J;;;;q_ _ _ _.::..J.:;=-=f----:....L;;~----...::..J=.IJ
44. Number of days from the due date to the payment date (See
instructions) - -- - - .. - - .. - .. - .... ---- - - -- .. - -- .. - .. -- -- . (4 4) 1-----~d-----,..,-1-----.....,..,+------rd
45.
Line 44
-
365 X Line 43 (See instructions) ........ __ ...................... ..
46. Addition to theTax for Failure to Pay (Add the amounts from
columns of line 45. Transfer to page 1, Part ill, line 24 of the return~ __ _
Multiply (a) by 20% by~
365
Compuler Experl Group
Form AS 2879
Rev. 12.96
Rep. 05.02
Foreign Corporations and Partnerships
Tax on Dividend Equivalent Amount
and Effectively Connected interest
(Branch Profits Tax)
2005
Taxpayer's Name
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.
Perrobras America, Inc.- Puerto Rico Operations
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)
2. Additions:
a) Enter excess of flexible depreciation over straight-line depreciation _________ (2a)
b) Exempt interest income under Section 1022(b)(4) of Puerto Rico Internal
Revenue Code of 1994, as amended (Code), net of related expenses _______ (Zb)
c) Other additions (See Section 1119 of the Code):
00
00
00
(2c)
3. Total additions. (Add lines 2(a) through 2(c))
------------------------------------------
4. Deductions:
(4a)
a) Taxes paid (Enter the sum of normal tax, surtax, and alternative minimum
tax).
---------------------------------~~
b) Previous year Branch Profits Tax
c) Enter interest deduction attributable to interest derived froro .e2oo._,
20. Total gross income (Add lines 8 t11rough 19) ............................................................................................................................. (20)
(74,519) oo
21. Compensation to officers (See instructions for Part X) ............................................................................... (21)
o 00
22. Salaries, commissions and bonuses to employees .................................................................................... (22)
207,765 oo
23. Commissions to businesses ................................................................................................................. (23)
o oo
24. Social security tax (FICA) ................................................................................................................... (24)
13,379 oo
25. Unemployment tax .................................................... ......................................................................... (25)
592 oo
26. State Insurance Fund premiums ........................................................................................................... (26)
o oo
27. Medical or hospitalization insurance ........................................................................................................ (27)
23,500 oo
28. Insurances ... ............................................................. ........ ... .... ..... ..................................................... (28)
504 00
29. Interest (See instructions)...................................................................................................................... (29)
o oo
30. Rent .. ..... ... .. ..... .... .. ...... ... ... .. ... .... .. ... ....... ... .. ... .... ... ........ .. ... ... ... ... ... ... .... .... ... .... ..... ... .... .... .... .... .... .... (30)
11 ,349 oo
31. Property tax: (a) Personal
0
(b) Real
0
........................................................ (31)
o oo
32. Other taxes, patents and licenses (See instructions) ................................................................................. (32)
o oo
33. Losses from fire, storm, other casualties or theft ....................................................................................... (JJ)
o oo
~ 34. Motor vehicle expenses ........... ...... .. .. .... .... .......... ...... ............. ................. ............ ......... .... ....... ..... .. .. ... (34)
o oo
&_ 35. Meal and entertainment expenses (Total
5,520
l (See instructions).................................... {35)
2,760 oo
36. Travel expenses ................................ .................................................... ............................................. (36)
29,656 oo
37. Professional services ........................................................................................................................... (37)
109,062 oo
38. Contributions to pension or other qualified plans (See instructions)................................................................ (38)
6 543 oo
39. Flexible depreciation (See instructions. Submit Schedule E) ....................................................................... (39)
o oo
40. Accelerated depreciation (See instructions. Submit Schedule E) ................................................................. {40)
o oo
41. Current depreciation and amortization (See Instructions. Submit Schedule E) ................................................ (41)
o oo
42. Bad debts (See instructions) .................................................................................................................. (42)
O oo
43. Charitable ~ontriiJutions (See instructions) .............. .............. ............ ............................ ............................. (43)
o oo
44. Repairs (See instructions)...................................................................................................................... (44)
o oo
45. Deduction for employers who employ handicapped persons (See instructions) .............................................. (45)
o 00
46. Contributions to educational contribution accounts forthe employees' beneliciaries (See instructions)...................... (46)
o oo
47. Other deductions (See instructions) ......................................................................................................... (47) .___ _...:3..:.8.;;.,3,..:.61""7...1..:...00'+------r-f
48. Total deductions (Add lines 21 through 47) .................................................................................................................................... (48)
788,727 oo
49. Net operating income (or loss) for the year (Subtract line 48 from line 20. Enter here and In Part I, line 1) .................................................. (49) 1---=-=-=-=-=:-l--1
(863,246) oo
Item
~
Amount
Item
Amount
0
1. Salaries, wages and bonuses ......................... t1l
o oo 8. Repairs .. ................................................................. (6) 1 - - - - - - ,:-1-!"oo"-1
0
2. Social security tax (FICA) ............................. (1l
o oo 9. Utilities .................................................................... l9l 1 - - - - - - - '"-+"'oo<-t
~ 3. unemployment tax ....................................... 131
0 00 10. Flexibledepreclation(SubmitScheduleE) ................... (10) 1-----~'-+"'~~"-t
&. 4. State Insurance Fund premiums...................... (•tl
0 00 11. Accelerateddepreciati(n(SubmhScheduleE)..................... (11) t - - - - - - :::+"',
0 00
5. Medlcalorhospitalizationinsurance ................. (5)
0 00 12. Currentdepreciatlon SubmitScheduleE) ................... (12) 1 - - - - - - + " ' " - 1
13. Other expenses (Submit detaiQ ................................... (13) 1-----o:.Poo,
. Other insurance ............................................ (6)
0 00
6
7. Excise taxes ................................................ m
o oo
0 00 14. Totalotherdirectcosts(Addlines1 through13. Same
as Part IV. line 5) ...................................................... /14)
Retention Period: Ten (10) years
Reproducldo por CEG
.,
Form 480 20 R 12 06
ev.
Corporallon - Page 3
Assets
1. Cashon hand and in banks ............................ (1)
2. Accounts receivable ................................... (2)
3. Less: Reserve for bad debts ....................... (3) II
4. Notes receivable ....................................... (4)
5.1nventories ................................................ (5)
6.1nvestments .............................................. (6)
7. Depreciable assets ..................................... (7)
8. Less: Reserve for depreciation .................... (B)
9. Land ........................................................ (9)
10. Other assets ............................................. (10)
11. Total Assets ............................................ (11)
Liabilities and Stockholder's Equity
5
t:
Liabilities
"'
a.. 12. Accounts payable ...................................... (12)
13. Notes payable .............................................. {13)
14. Accrued expenses ..................................... (14)
15. Other liabilities ........................................... (15)
16. Total Liabilities ....................................... (16)
Stockholder's Equity
17. Capital stock
(a) Preferred stocks .................................... (17a)
(b) Common stocks .................................... (17b)
18. Additional paid in capilal .............................. (1B)
19. Retained earnings ...................................... (19)
20. Reserve ................................................... (20)
21. Total Stockholder's Equity ....................... (21)
22. Total liabilities and Stockholder's Equity ....... (22) ··-
m
Corporation - Comparative Balance Sheet
Beginnin oftheYear
Total
0 00
293,510 00
0 00
...
,:
0 00
0 oo'
129,734
0
0
0
00
00
00
00
Ending of!he Year
Total
o oil
(1)
(2)
293,510 00
0 (Jb
0 00
0 00
(3)
I(
67,071,995 00
0 dO)
;•·
(4)
(5)
o oii
(6)
(7)
0 00 (B)
0 00 (9)
0 00
{10)
293,510 00 {11)
{12)
(13)
(14)
(15)
Ir
0 00
0 OQ)
...
00
00
00
00
00
00
00
00
00
121,211,542 00
(19)
0 00
0 00
0 00
(38,877,782) nn
(20)
0 00
(17a)
(17b)
(18)
1
163,776 00 (21)
293,510 00 (22)
-
0
0
243,582
82,333,760
121,211,542 on
0 00
0 00
0 00
129,734 00 (16)
0
0
0
163,776
0
67,071,995 00
0 00
16,018,183 00
Reconciliation of Net Income (or Loss) per Books with Net Taxable Income (or Loss) per Return
(866,006) 00 7. Income recorded on books thisyearnotincluded on this
1. Net income (or loss) per books .................... (1)
0 00
return (Itemize, use schedule ifnecessmy)
2. Income tax ............................................... (2)
0
3. Excess of capilallosses over capilal
(a) Exempt interest
0 00
0
gains ........................................................ {3)
(b)
0
(c)
4. Taxableincomenotrecorded on books this year
0
(d)
(Itemize, use schedule if necessary)
0
(a)
Total ................................................................... (l)
0
(b)
8. Deductions on this tax return not charged against book
0
(c)
income this year (Itemize, use schedule if necessary)
0
0
(d)
(a) Depreciation
- Total ........................................................ (4)
0 00
3,239,331
(b) NOL Prior Years
>
0
(c)
5. Expenses recorded on books this year not
0
(d)
claimed on this return (Itemize, use schedule if
necessary)
Total ................................................................... (B)
9. Total (Add lines 7 and 8) ...................................... (9)
(a) Meal and entertainment (amount
2,760
10. Net taxable income (or loss) per return (Subtract line
not claimed)
0
9 from line 6) ........................................................ (10)
(b) Depreciation
0
(c)
0
(d)
2,760 00
Total ........................................................ (5}
6. Total (Add lines 1 through 5) ...................... (6)
(863,246) 00
Analysis of Retained EarninQs per Books
m
163 776 DO 5. Distributions:
(a) Cash .................................. (5a)
1. Balance at the beginning of the year .............. (1)
(866,006) 00
(b) Property .............................. (Sb)
2. Net income per books ................................ (2)
(c) Stocks ................................ (5c)
~ 3. Other increases (Itemize, use schedule if
t:
0
6. Other decreases (Use schedule if necessary) ................. (6)
necessary)
a.
"'
0
7. Total (Add lines 5 and 6) .......................................... (7)
0 00 8. Balance at end of year (Subtract line 7 from
0 (3)
(702,230) 00
line 4) ................................................................... (8)
4. Total (Add lines 1, 2 and 3) ........................ (4)
(38,877,782) 00
82,333,760 00
m
0 00
&
Retenlion Pcnod: Ten (10) years
3,239,331 00
3,239,331 00
(4,102,577) 00
0 00
o1oo
0 00
38,175,552 loa
38,175,552 00
(38,877,782) 00
Reproducido por CEG
Name or amccr
Social securily numbe.r
Percenrago orthne
devoted to
industry or business
Percenmge or stocks owned
0.00%
0.00 %
0.00%
0.00%
0.00 %
0.00%
o.oo%
0.00 %
0.00%
o.oo%
0.00 %
0.00%
Total compensation lo officers
0.00%
0.00%
Compensation
0.00 %
(Enter in Pari V, line 21) ..............................................................................................................................
1. If a foreign corporation. indicate if the lmde or business in Puerto
Rico was held as a branch ......................................................
7.. if a branch, indicate the percent that represents the income from sources
within Puerto Rico from the total income or the corporation: ___%
o
3. Is the corporation under Section 936 or the Federal Internal Revenue
Code? .................................................................................. .
4. Did the corpora lion keep any part of Its records on a
computerized system during this year? ...........................................
5. The corporation's books are in care of:
Name The Corporation
Address __t:,2. Box 421688
Houston TX 77042-
6. Indicate the accounting method used for book (tax) purposes:
0 Cash
I!) Accrual
0 Other {specify):
7. Did the corporation file the following documents?:
(a) Informative Return (Forms 480.5, 4BO.GA, 480.68) ................. ..
(b) Withholding Statement (Form 499R·2/W-2PR) ......................... ..
8. If the gross income exceeds $1,000,000, are financial
statements audited by a CPA licensed in Puerto Rico included with this
mlurn? ....................................................................................,.,,
0
9. Number or employees during the year:
10. Did the corporation claim a deduction for expenses connected
with:
(a) Vessels? ...................................................................................
(b) Living expenses? ......................................................................
(c) Employees allending conventions or meetings outside Puerto Rico or
the United States? ..........................................................................
. Did the corporation distribute dividends other than stock dividends or
distributions in liquidation in excess of tho corporation's current and
accumulated earnings?...............................................................................
12. Is the corporation a partner in any special partnership? .........................
Name of the special partnership - - - - - - - - - - - Employer identification number - - - - - - - - - - - 3. Is the corporation a member or a controlled group? ..............................
4. Enter the amount or exempt interest:
o
s. Enter the amount corresponding Ia charitable contributions Ia municipalities
included in Part V. line 43:
o
16. Indicate if Insurance premiums were paid by an unauthorized
.,
Schedule A Corporation
and Partnership
Rav. 12.o•
200 6
ALTERNATIVE MINIMUM TAX
1/1
Taxableyearbeglnnlngon
2oos and ending on
Taxpayer's Name
12/31
2005
Employer ldentiflcalion Number
PETRO BRAS AMERICA, INC.· PUERTO RICO OPERATIONS
:. ,__ part I
76·0235183
Adjustments in tho Computation or 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 instructions)............................................
r-----"";<'T'"::ii!tl+-_ _.:..!B_63.:..,2_4.:..6l:..J...:.oo·
1
2. Aqjustrnents:
a. Flexible depreciation..................................................................................... !2al
o oo
b. lnstallmentsales............................................................................................. (2bl
o 00.
c. Long -term contracts..................................................................................... !2cl
o oo
d. Expensesrelatedwithexemptinterest........................................................... !2d)
o oo
e. Accelerated depreciation............................................................................... (2el,__ _ _ _ _o~oo:.J·1-------.-.-1
f. Total adjustments (Add lines 2(a) through 2(e)) ................................................................................... !2ll ,__ _ _ _ _
o.;-=;oo,·
3. Alternative minimum net income before the adjustments of Part II and the operating loss (Add lines 1and 2(0) ................................................... !Jl
(863,246) W.':
Adjustment for the Excess of U1e Net income per Books over the Alternative Minimum Net Income Before Adjustments
Part II_ _
6
4. Net income (or loss) per books....................................................................................................... (4) t----'-(a_ss_,o_o-'l'-t-:'W,
5.
6.
7.
8.
9.
1o.
11.
12.
13.
14.
15.
16.
17.
Goodwill amortization expense.......................................................................................................... l5l ,__ _ _ _ _o-+-"m,·
0 00
Income tax expense per boaks....................................................................................................... (6) '-------'~f--------,,---,---.--.--1
Add lines 4, 5and6 .........................................................................................................................
Ql
(866,006)
Exemptinterestincomenetofrelatedexpenses................................................................................ (BJ,__ _ _ _ _
o+-oo-1
Dividends and profit distributions received from domestic corporations or partnerships, or from
industrial or tourism development income............................................................................. (9),__ _ _ _ _o-+-oo_,.
lndustrialdevelopmentincome, exempttourism development income or bona fide agricultural business
income............................................................................................................................................. (1o),__ _ _ _ _o+-ooi-l.
Income (or loss) recognized undertlle equity method....................................................................... ( 1 1 l l - - - - -0 1
::..t.:::00
o .0:)
Reserve forcatastroph. Iasses......................................................................................................... (12)1-------.-;;;;;
1c
Netlong-termcapitalgain (Seeinstructions).................................................................................... (13l..___ _ _ _ _
o.._-t-------:-r=t
Add lines 8through 13.............................................................................................................................................................
Subtract line 14 from line 7......................................................................................................................................................
Subtractlilie 3from line 15.1f line 3is larger than line 15, enter zero ......................................................................................
Adjustment for the excess ofthe adjusted net income per books overthe alternative minimum net income of line 3(Multiply line 16
by 50%) ................................................................................................................................................................................
·Part Ill
Computation of the Alternative Minimum Net Income
18. Alternative minimum netincome before the net operating loss (Add lines 3and 17) ..................................................................
19. Net operating loss to determine the alternati_ve minimum tax (See instructions) .........................................................................
20. Subtract line 19 from line 18 (Enter here the difference, but not less than 10% of line 18) ........................................................
21. Exemptamount(Seeinstructions) .............................................................................................................................................
22. Alternative minim.um nelincome (Subtract line 21 from line 20) ...........................................................................................;.... .
Computation of the Alternative Minimum Credit for Foreign Taxes Paid
Part IV
)l)
(23)
23. Tentative minimum tax (Multiply line 22 by 22'}o .............................................................................
86 _4...:
24. Alternative minir:num netincome before net operating loss deduction (Line 18) ................................. (24l ,__ _!;__3_,2 6l.,._,OO.J
25.
26.
27.
28.
29.
30.
0
00
00
Allowable exempt amount without considering tile net operating loss (See instructions).................. (25) t------=o+-::;;~
Subtract line 25 from line 24 ............. ................................................................................................. !26) 1------=o-~-"-oo.,
0
Multiply line 26 by22% .................................................................................................................. !27l ,___ _ _ _ _~oo_·i-----"71""=-1
0 00
Multiplyline27by10% .......................................................................................................................................................... (28)
0 00
Credit limitation (Subtract line 28 from line 23) ........................................................................................................................ (29)
Alternative minimum credit for foreign taxes paid (This amount cannot exceed the amount on line 29.
0 00
See instructions) ..................................................................................................................................................................... (30)
- Part If
Computation of the Alternative Minimum Tax
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 32is larger than line 31, enter zero, otherwise, enter the difference
onForm480.10or 480.20,Partlll.line19 ..........................................................................................................................
RetentionPeriod:Ten(lO)years
(31)
0
(X)
(32)
0
00
~v.
!33)
o 'oo
Reproducido por CEG
Schedule B Corporation
Rev. 12.0G
and Partnership
RECAPTURE OF CREDIT CLAIMED IN EXCESS,
TAX CREDITS, AND
OTHER PAYMENTS AND WITHHOLDINGS
Taxableycarbeglnningon
1/1
2005 andcndingon
12131
200j)_
e
2006
~IUt:lltniLauull Number
Taxpayer's Name
PETROBRAS AMERICA, INC.- PUERTO RICO OPERATIONS
76-0235183
Recapture oflnvestment Credit and Conservation Easement Claimed in Excess
ColumnA
~
Column B
Name of entity:
Employer identification No:
Credit for:
Tomism Development .......................................................... 1 0
Solid Waste Disposal ........................................................... 20
Agricultural Incenlives ......................................................... 30
Capital Investment Fund ...................................................... 4 0
Theatrical District of Sanlurce ................................................
Film Industry Development ................................................... 6 0
Housing Infrastructure .......................................................... 70
Construction or Rehabilitation of Rental Housing Projects for low or
Moderate Income Families .............................................. a 0
Acquisition of an Exempt Business that is in the Process of Closing
ils Operations in Puerto Rico .......................................... 90
Conservation Easement ..................................................... 100
................................ 110
Other:
so
Column C
..................................................... 1 0 ..................................................... 1 r
..................................................... 20 ..................................................... 2 ~
..................................................... 30 ..................................................... 3 ~
..................................................... 4 0 ..................................................... 4 I""
..................................................... 5 0 ..................................................... 5 I"'
..................................................... so ..................................................... 6 :-..................................................... 7 0 ..................................................... 7 :...
....
..................................................... so ..................................................... so
..................................................... 90 ..................................................... 90
..................................................... 100 ..................................................... 100
110 ..................................................... 110
• .................................................. u
1. Totalcreditclaimed in excess ...................................................................................................................................................
2. Recapture of credit claimed in excess paid in previous year, if applicable .................................................................
3. Recapture of credit claimed in excess paid this year (Enter on Form 480.10 or 480.20,
Part lll,line 16. See instructions) ..............................................................................................................................................
4. Excess of credit due next year, if applicable (Subtract lines 2and 3from line 1. See instructions) ..........................................
Tax Credits (Do nolinclude estimated lax ~~vmPnl< Referto Parllll of this :;,cneoUie)
(1)
0 lotJ
lll
0 ·.~
(3)
Dloo
,
0 Iori
l"l
1. Credit fortaxes paid to the United States, its possessions and foreign countries (Schedule CCorporation and Partnership,
Part IV,Iine 7) ..................................................................................................................................................................... (1)
2. Credit for increase in investment (See instructions) ............................................................................................................... (2)
3. Credit for investment in Capital Investment, Tourism, other funds or directinvestment (Submit Schedule Q) ............................ (3)
4. Credit attributable to losses in Capital Investment, Tourism oro\herfunds (SubmitSchedules Qand Q1) ........................................... (4)
5. Creditfor Contribution to the Educational Foundation For Free Selection of Schools (See instructions) .................................. (5)
6. Credit for alternative minimum tax paid in previous years (See instructions) .......................................................................... (6)
7. Credit for the purchase oftax credits (Com[Jiete Part IV) (See instructions) .......................................................................... m
8. Credit for investment Act No. 362 of1999: D Film Project and/or 0 lnfraslructure Project (See instructions) ...................... lB)
9. Credit forinvestmentin Housing Infrastructure (See instructions) ........................................................................................ (9)
10. Credit for investment in the Construction or Rehabilitation of Rental Housing Projects for Low or Moderate
Income Families (See instructions) ..................................................................................................................................... 110)
11. Credit to investors in an exempt business that is in the process of closing its operations in Puerto Rico (See instructions) ............. [11)
12. Creditforpurchasesofproductsmanufactured in Puerto Rico and Puerto Rican agricultural products
(Submit Schedule B1 Corporation and Partnership) ............................................................................................................. [12)
Credit for contributions to Santa Catalina's Palace Patronage (See instructions) ................................................................... (13)
13.
14. Credit for the establishment of an eligible conservation easement or donation of eligible land (See instructions) .................. (14)
15. Credit for construction investment in urban centers (See instructions) .................................................................................. (15)
16. Credit for merchants affected by urban centers revitalization (See instructions) ..................................................................... [16)
17. Exemption for persons that operate as publisher (See instructions) ....................................................................................... (17)
18. Exemption for persons that operate as printer (See instructions) ........................................................................................... (18)
19. Exemption for persons that operate as bookseller (See instructions) ..................................................................................... (19)
20. Credit for the Extraordinary Tax of 2006 (See instructions) .................................................................................................. (20)
21. Credits carried from previous years (Submit detail) ............................................................................................................... (21)
22. Other credits not included on the preceding lines (Submit detail) (See instructions) .......................................:....................... (22)
23. Total Tax Credits (Add lines 1through 22) .......................................................... ................................................................. (23)
24. Total tax determined (Form 480.10or 480.20, Part lll,line 15) ........................................................................................... C24l
25. Credit to be claimed (The smaller of line 23 or 24. Enter on Form 480.10 or 480.20, Part Ill, line 17) ......................... ....... C25l
26. Ca11 yfu1 VV(lt_U_credits (Subtroctline 25 from line 23. Submit detail)........................................................................................ <26l
Retention Period: Ten l1 O) years
....
ml
o loo
o loa
olon
_0_ lri_ii_
0 lao
_0 l01
o loi
_0
0 lao
_0
0
1:
lOll
loo
Olnn
0 Ino
0
0
J) th
_()_
0 .
lao
'io
ill
o loi
IOI
_o tria
0
Olnn
_Q_iog
oloo
olao
o!oo
Re p roducido p orCEG
I
I
i
'
..
Schedule
Rev.12.06
Other Payments and Withholdings
1.
2.
3.
4.
5.
6.
7.
8.
.
Tax paid with automatic extension oftime ................................................................................................................................ .
Estimatedtaxpaymentsfor 2006 ........................................................................................................................................... ..
Tax paid in excess on previous years credited to estimated tax {See instructions) ................................................................. ..
Tax withheld at source ........................................................................................................................................................... .
Services rendered (Form 480.6B) ........................................................................................................................................ ..
Tax withheld at source on distributable share to partners of special partnerships (Form 480.6 SE) ........................................ .
Tax withheld at source on eligible interest ...................................................................................................... .
Total Other Payments and Withholdings (Add lines 1 through 7. Enter on Form 480.10 or 480.20,
Part Ill, line 23) ......................................................................................................................................................... ..
- . .
. -
-
-
: PartiV
Check the block corresponding to the act (or acts) under which you acquired the credit and enter the amount:
1. D Tourism Development......................................................................................................................................................
2. D SolidWasteDisposal........................................................................................................................................................
3. D Agricultural Incentives......................................................................................................................................................
4. D CapitallnvestmentFund..................................................................................................................................................
5. D TheatricaiDistrictofSanturce...........................................................................................................................................
6. D FilmlndustryDevelopment..............................................................................................................................................
7. D Housing Infrastructure......................................................................................................................................................
B. D Construction or Rehabilitation of Rental Housing Projects for Low or Moderate Income Families............................
9. D Acquisition of an Exempt Business thatis in the Process of Closing its Operations in Puerto Rico............................
0. D Conservation Easement......................................................................................................................................
1. D Urban Centers Revitalization ..............................................................................................................................
2. D Other:
3. Total credit for the
Retention Period: Ten (10) years
(1)
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(10)
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(12) 1 - - - - - - ' - F I
(13l
Reproducldo par CEG
Schedule D Corporation
Rev.12.06
and Partnership
GAINS AND LOSSES FROM SALE
OR EXCHANGE OF PROPERTY
Taxableyearbeglnningon
1/1
2006
andendingon
12/31
6
200---
2006
Taxpayer's Name
Jl
Employer Identification Number
PETROBRAS AMERICA, INC.- PUERTO RICO OPERATIONS
76-0235183
~ Short-Term Capital Assets Gains and Losses Held 6months or less)
Ac~~cd
Description and Location of Property
_
~:
sal~~rlce
(D)
Adjusted Basis
(E)
Selling Expenses
(F)
Gain or Loss
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1.
2.
3.
4.
Net short-term capital gain (or loss)..................................................................................................................................................
Net short-term capital gain (or loss) from investment funds (Submit Schedule Q1) ............................................................................
Distributable share on net short-term capital gain (or loss) from Special Partnerships.......................................................................
Net short-term capital gain (or loss) attributable to directinvestmentandnotthrough aCapital
Investment Fund (Submit detail) .......................................................................................................................................................
5. Net capital loss carryover (Submit detail).........................................................................................................................................
6. Net short-term capital gain (or loss) (Add lines 1through 5) .....................................................................................................
Loni!=Term Capital Assets Gains and Losses [Held more than 6months)
llmJI
0
Description and Location of Property
Fill mIf you
Prepaid
C)
(/1)
Date
Acquired
(B)
Date
Sold
• (D) .
AdJusted Bas1s
(C)
Sale Prfce
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7. Net long-term capital gain (or loss)................................................................................................................................................... !7l
B. Distributable share on net long-term capital gain (or loss) from Special Partnerships........................................................................ ,.,
9. Net long-term capital gain (or loss) attributable to direct investment and notthrough aCapital
Investment Fund (Submit detail) .... .... ........... ... .... ... ..... ... ...... ................ .............. ... .......... ........ .... .......... ........... ......... ....... ..... ... ... .... . (9)
10. Net long-term capital gain (or loss) (Add lines 7 through 9) ...................................................................................................... (10l
~ Long-Term Capital Assets Gains and Losses (Held more than 6months) Realized under Speciall
. .
.
Flllln if you
(/1)
(B)
(C)
(D)
Descnp11on and LocaUon of Property
Prepaid
Ac'!~ed
g~;~
Sale Price
Adjusied Basis
C)
11. Net long-term capital gain (or loss) under Act:
(E)
1:
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RetenllDn Penod: Ten (10) years
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Reproducido por CEG
.
'
ScheduleD Corpor~lion and Parlnership ·Page 2
Rev.12.06
Summary of Capital Gains and Losses
Column A
Column B
Short-Term
Gains or Losses
Long- Tenn
Column .g_
Under Special
Legislation
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0,00
112. Enter the gains determined on lines 6, 10 and 11 in the corresponding Column ................... 11
0 i]o
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'13. Enter the losses determined on lines 6,1 oand 11 in the corresponding Column ................. (131
':.<:,
14. If any of Columns Band Creflect a loss on line 13, apply the total to the gain in the other Column
0 00
(See instructions) ............................................................................................................................................... (14)
0 00
15. Subtract line 14 from line 12. If any Column reflected a loss on line 13, enter zero here ................................... (15)
0 oo
116. Apply the loss from line 13, Column A proportionally to the gains in Columns B and C (See instructions) .... !16)
0 00
17. Subtract line 16 from line 15 .:............................................................................................................................ (17)
18. Add the total of Columns Band C, line 17. However, if line 12 does not reflect any gain in Columns Band C, you must enter the
total amount of line 13, Columns Athrough C........................................................................................................................................... !1Bl
19. Net capital gain (or loss) (Add line 12, ColumnA and line 18) ............................................................................................................. !19)
20. Enter excess of net short-term capital gain over net long-term capital loss (See instructions) .......................................................... (20)
2 . Enter excess of net long-term capital gain over net short-term capital loss (See instructions) .......................................................... 1211
22. Net capital gain (Add lines 20 and 21. Enter here and on Form 480.10 or 480.20, Part IV, line 9 or on the appropriate line of
other
........................................................................................................................................................................................... (22)
uetefiiiiii(JLIUII of Alterrrauvci Tax 'Capital Gain
(a) Form 480.10 or 480.20, Part II, line 5
(b) Schedule PIncentives, Part I, line 7
(c) Others· Enter the amount from the appropriate line of the return ......................................................... !23)
24. Enter the amount from line 17, Column B............................................................................................................................................ !24)
Enter the amountfrom line 17, Column C........................................................................................................................................... (25)
Net income for purposes of alternative tax -c~pital_galn(Subtract lines 24 and 25 from line 23) .................................................. !26!
COMPUTATION OF NET INCOME TO DETERMINE AL"i t:KNAIIVE TAX
23. Net income ............
{
0 166
0
0
0 ;QQ
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0 00
0
.®.
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0
(4,102,577) 00
_0 DO
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_(B)
Acouired
Sold
(C)
Sale Price
(D)
Adjusted Basis
(E)
Selling Expenses
Inn
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27. Net income for purposes of partial normal tax (Enter the amount from line 26) ................................................................................. (27)
28. Less: Credit for purposes of surtax (From the appropriate line of the return) ................................................................................ (2Bl
29. Net income subject to partial surtax ...................................................:.......................................................................................... (29)
COMPUTATION OF ALTERNATIVE TAX
30. Partial normal tax (Multiply line 27 by 20%) .................................................................................................................................... (30)
31. Surtax ............................................................................................................................................................................................ (31)
32. Amount of recapture ...................................................................................................................................................................... (32)
33. Special tax .......................................................................................................................................................................................... (33)
34. Special tax toentitiesoperatingunderthe "Puerto Rico Banking Act" ................................................................................................... (34)
35. Total tax (Add lines 30 through 34) ..................................................................................................................................................... (35)
36. Plus: 20% of the amount on line 24 .............................................................................................................................................. (36)
37. Plus: __% (under special legislation) of the amount on line 25 (enter the applicable percent) ................................................. (37)
38. Alternative Tax. Capital gains (Add lines 35through 37. Enter the total here and transfer to Fann 480.10 or 480. 20, Part Ill, line 14
orto thel!J.I~' u~r1ate line ofotherreturn_s). ....,
........
........
.. ......................................,.. J3~l
Gains (or Losses) from Property Other than Capital Assets
_(A)
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Description and Location of Property
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(F)
Gain or Loss
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0
0
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39. Net gain (or loss) from property other than capital assets (Enter here and on Form480.10 or 480.20, Part IV,
line 10 0r0n the OIJIJI U!JIICJ
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