Form Il-1120 - Corporation Income And Replacement Tax Return - 2007 Page 3
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3Step 7: Figure your net income tax
45
45
Income tax. Multiply Line 39 by 4.8% (.048).
_______________|____
46
46
Recapture of investment credits. Attach Schedule 4255.
_______________|____
47
47
Income tax before credits. Add Lines 45 and 46.
_______________|____
48
48
Income tax credits. Attach Schedule 299-D.
_______________|____
49
49
Net income tax. Subtract Line 48 from Line 47. If the amount is negative, write “0”.
_______________|____
Step 8: Figure your refund or balance due
50
50
Net replacement tax from Line 44.
_______________|____
51
51
Net income tax from Line 49.
_______________|____
52
52
Total net income and replacement taxes. Add Lines 50 and 5.
_______________|____
53
53
Underpayment of estimated tax penalty from Form IL-2220 (see instructions).
_______________|____
54
54
Total tax and penalty. Add Lines 52 and 53.
_______________|____
55
Payments.
a
a
Credit from 2006 overpayment.
______________|____
b
b
______________|____
Total estimated payments.
c
c
Form IL-505-B (extension) payment.
______________|____
56
56
Total payments. Add Lines 55a through 55c.
_______________|____
57
57
Overpayment. If Line 56 is greater than Line 54, subtract Line 54 from Line 56.
_______________|____
58
58
Amount to be credited to 2008.
_______________|____
59
59
Refund. Subtract Line 58 from Line 57. This is the amount to be refunded.
_______________|____
60
Tax due. If Line 54 is greater than Line 56, subtract Line 56 from Line 54.
60
This is the amount you owe.
_______________|____
Make your check payable to “Illinois Department of Revenue” and attach to the front of this form
Write the amount of your payment on the top of Page 1 in the space provided.
Step 9: Sign here
Under penalties of perjury, I state that I have examined this return and, to the best of my knowledge, it is true, correct, and complete.
( ____ ) ___________
____________________________________________
___/____/____
_________________________
Signature of authorized officer
Date
Title
Phone
____________________________________________
___/____/____
____________________________
Signature of preparer
Date
Preparer’s Social Security number or firm’s FEIN
( ____ ) ___________
_________________________________
_________________________________________________
Preparer firm’s name (or yours, if self-employed)
Address
Phone
Mail this return to: Illinois Department of Revenue, P.O. Box 19008, Springfield, IL 62794-9008
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to provide
information could result in a penalty. This form has been approved by the Forms Management Center.
IL-492-0089
Page 3 of 3
Form IL-20 (R-2/07)
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