Form Il-1023-C - Composite Income And Replacement Tax Return 2007
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Illinois Department of Revenue
2007 Form IL-1023-C
Composite Income and Replacement Tax Return
Due on or before the 15th day of the 4th month 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__ __
C
Write your federal employer identification no. (FEIN).
Step 1: Provide the following information
If you have an address change, check this box.
___ ___ - ___ ___ ___ ___ ___ ___ ___
6 6 6
Seq. code
A
___________________________________________________________
D
Write your Illinois Business Tax number (IBT).
Name of partnership or subchapter S corporation
___ ___ ___ ___ - ___ ___ ___ ___
___________________________________________________________
In care of
E
Check the box that identifies the return you filed.
Form IL-1065
Form IL-1120-ST
___________________________________________________________
Mailing address
F
Check if the partners or shareholders
included are trust members.
___________________________________________________________
City
State
ZIP
G
Check if the partners or shareholders included
B
Check the box if one of the following apply.
first return
final return
are individuals and/or estate members only.
Step 2: Figure your income and net income tax
1 a
1a
Modified base income of the partnership or subchapter S corporation.
______________|_____
b
1b
Total percentage of ownership for resident members. (Stop - see instructions.)
___________________%
c
1c
Multiply Line 1a by Line 1b.
______________|_____
2 a
2a
Modified base income allocable to Illinois.
______________|_____
b
2b
Total percentage of ownership for nonresident members.
___________________%
c
2c
Multiply Line 2a by Line 2b.
______________|_____
3
3
Add Lines 1c and 2c. This amount is your income.
______________|_____
4
4
Net income tax. Multiply Line 3 by 3% (.03).
______________|_____
Step 3: Figure your net replacement tax
(Complete only if this return includes any trust members.)
5
5
Income included in Line 3 that is subject to replacement tax.
______________|_____
6
6
Net replacement tax. Multiply Line 5 by 1.5% (.015).
______________|_____
Step 4: Figure your refund or balance due
7
7
Total net income and replacement taxes. Add Lines 4 and 6.
______________|_____
8
Payments.
a
8a
Credit from 2006 overpayment.
______________|_____
b
8b
Form IL-1023-CES payments.
______________|_____
c
8c
Form IL-505-B (extension) payment.
______________|_____
9
9
Total payments. Add Lines 8a through 8c.
______________|_____
10
10
Overpayment. If Line 9 is greater than Line 7, subtract Line 7 from Line 9.
______________|_____
11
11
Amount to be credited to 2008.
______________|_____
12
12
Refund. Subtract Line 11 from Line 10. This is the amount to be refunded.
______________|_____
13
13
Tax due. If Line 7 is greater than Line 9, subtract Line 9 from Line 7. This is the amount you owe.
______________|_____
Make your check payable to “Illinois Department of Revenue.”
Write the amount of your payment on the top of this page in the space provided.
Step 5: 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 and that
each of the qualifying partners or shareholders is aware of, and complies with, the rules and regulations set forth and made binding by this
composite return.
____________________________________________
___/___/______
________________________ (_____)__________
Signature of authorized agent
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 19009, Springfield, IL 62794-9009
NS DR________
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-492-2056
IL-1023-C (R-12/07)
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