Form Il-1065 - Partnership Replacement Tax Return - 2007 Page 3
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1
2
3 55
55
_______________|____
Write the amount from Line 54.
Step 8: Figure your net replacement tax
56
56
Replacement tax. Multiply Line 55 by .5% (.05).
_______________|____
57
57
Recapture of investment credits. Attach Schedule 4255.
_______________|____
58
58
Replacement tax before investment credits. Add Lines 56 and 57.
_______________|____
59
59
Investment credits. Attach Form IL-477.
_______________|____
60
60
Net replacement tax. Subtract Line 59 from Line 58. Write “0” if this is a negative amount.
_______________|____
Step 9: Figure your refund or balance due
61
Payments
a
a
Credit from 2006 overpayment.
_______________|____
b
b
Form IL-505-B (extension) payment.
_______________|____
62
62
Total payments. Add Lines 6a and 6b.
_______________|____
63
63
Overpayment. If Line 62 is greater than Line 60, subtract Line 60 from Line 62.
_______________|____
64
64
Amount to be credited to 2008.
_______________|____
65
65
Refund. Subtract Line 64 from Line 63. This is the amount to be refunded.
_______________|____
66
66
Tax Due. If Line 60 is greater than Line 62, subtract Line 62 from Line 60.
_______________|____
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 10: 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 partner
Date
Title
Phone
_____________________________________________ ___/___/____
____________________________
Signature of preparer
Date
Preparer’s Social Security number or firm’s FEIN
_________________________________
________________________________________________
(_____)__________
Phone
Preparer firm’s name (or yours, if self-employed)
Address
Mail this return to: Illinois Department of Revenue, P.O. Box 19031, Springfield, IL 62794-9031
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-492-0073
IL-065 (R-2/07)
Page 3
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