Form Il-990-T - Exempt Organization Income And Replacement Tax Return - 2007
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Illinois Department of Revenue
2007 Form IL-990-T
Exempt Organization Income and Replacement Tax Return
Due on or before the 15th day of the 5th month (4th month for employee trusts) following the close of the tax year.
Write the amount you are paying.
If this return is not for calendar year 2007, write your fiscal tax year here.
$_________________________
Tax year beginning _____/_____, 2007, ending _____/_____/ 20__ __
Step 1: Identify your exempt organization
C
Write your federal employer identification no. (FEIN).
A
Write your exempt organization name and mailing address.
If you have an address change, check this box.
___ ___ - ___ ___ ___ ___ ___ ___ ___
D
Write your Illinois Business Tax number (IBT).
__________________________________________________________
___ ___ ___ ___ - ___ ___ ___ ___
Name
__________________________________________________________
E
Check if you are taxed as a corporation.
C/O or name of trust's fiduciary
__________________________________________________________
F
Check if you are taxed as a trust.
Mailing address
G
Provide the nature of your unrelated trade or
__________________________________________________________
business _______________________________
City State ZIP
H
Check the box if you attached Illinois
B
Check the box if one of the following apply.
Schedule 1299-D, Income Tax Credits.
first return
final return, write the final date ___/___/___
Step 2: Figure your base income or loss
1
Unrelated business taxable income or loss from U.S. Form 990-T, Line 34.
1
Attach a copy of Page 1 of your U.S. Form 990-T.
_______________|____
2
2
Illinois income and replacement tax deducted in arriving at Line 1.
_______________|____
3
3
Base income or loss. Add Lines 1 and 2.
_______________|____
If the amount on Line 3 is derived only from inside Illinois or if you are an Illinois resident trust,
skip Step 3 and go to Step 4; otherwise complete Step 3.
Step 3: Figure your income allocable to Illinois
4
4
Trust, estate, or non-unitary partnership business income or loss included in Line 3.
_______________|____
5
5
Business income or loss. Subtract Line 4 from Line 3.
_______________|____
6
6
Total sales everywhere. This amount cannot be negative.
____________________
7
7
Total sales inside Illinois. This amount cannot be negative.
____________________
.
8
8
Apportionment factor. Divide Line 7 by Line 6 (carry to six decimal places).
___________________
9
9
Business income or loss apportionable to Illinois. Multiply Line 5 by Line 8.
_______________|____
10
10
Trust, estate, or non-unitary partnership business income or loss apportionable to Illinois.
_______________|____
11
11
Base income or net loss allocable to Illinois. Add Lines 9 and 10.
_______________|____
Step 4: Figure your net replacement tax
12
12
Base income or net loss from Line 3 or Line 11.
_______________|____
13
13
Replacement tax. Corporations multiply Line 12 by 2.5% (.025); trusts 1.5% (.015).
_______________|____
14
14
Recapture of investment credits. Attach Schedule 4255.
_______________|____
15
15
Replacement tax before investment credits. Add Lines 13 and 14.
_______________|____
16
16
Investment credits. Attach Form IL-477.
_______________|____
17
17
Net replacement tax. Subtract Line 16 from Line 15. Write “0” if this is a negative amount.
_______________|____
N S DR________
IL-990-T front (R-12/07)
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