Form Ict-4 - Electricity Distribution And Invested Capital Tax Return - Illinois Page 3
Download a blank fillable Form Ict-4 - Electricity Distribution And Invested Capital Tax Return - Illinois in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form Ict-4 - Electricity Distribution And Invested Capital Tax Return - Illinois with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4Illinois Department of Revenue
ICT-4 Instructions
General Information
Who must file this return?
You must file and pay tax on
•
your invested capital ( i.e., Invested Capital Tax) if you are in the business of distributing, supplying, furnishing, or selling gas or water. If you
are in the business of distributing, supplying, furnishing, or selling electricity and you are an electric cooperative, you must also file and pay
tax on your invested capital.
•
electricity you distribute in Illinois ( i.e., Electricity Distribution Tax) if you are
-
in the business of distributing electricity for use or consumption and not for resale, and
-
not an electric cooperative.
What is invested capital?
Invested capital is the amount equal to the fraction determined under the Illinois Income Tax Act, Sections 301 and 304a, multiplied by either
•
the average of the balances at the beginning and end of each taxable period of your total stockholder’s equity plus your total long-term
debt offset by your investments in and advance to all corporations, as shown on your annual report to the Illinois Commerce Commission
for the taxable period; or
•
in the case of an electric cooperative, the average of the balances at the beginning and the end of each taxable period of your total equity
including memberships, patronage capital, operating margins, non-operating margins, other margins, and other equities as shown on your
annual report to the United States Department of Rural Utilities Services.
Who must complete Worksheet A
?
(back of Form ICT-4)
You must complete Worksheet A for liabilities on or after January 1, 1998 if you are not an electric cooperative and are in the business of
•
distributing, supplying, furnishing, or selling gas for use or consumption and not for resale, and
•
distributing electricity for use or consumption and not for resale.
Completing this worksheet ensures that you are not paying both the Invested Capital Tax and the Electricity Distribution Tax on your electricity
plant operations.
Who must complete Worksheet B (
?
back of Form ICT-4)
You must complete Worksheet B for liabilities on or after January 1, 1998 if you are not an electric cooperative and are in the business of
distributing electricity for use or consumption and not for resale.
How do I pay?
You must make quarterly estimated payments on Form ICT-1, Electricity Distribution and Invested Capital Tax Estimated Payment, on
March 15, June 15, September 15, and December 15.
When should I file Form ICT-4?
You must file Form ICT-4 and pay any tax due by March 15 following the close of your taxable period.
Mail your completed return and payment to
ATTN INVESTED CAPITAL TAX
ILLINOIS DEPARTMENT OF REVENUE
PO BOX 19019
SPRINGFIELD IL 62794-9019
What if I fail to file and pay the amount I owe?
You owe a late-filing penalty if you do not file a processable return by the due date, a late-payment penalty if you do not pay the tax you owe
by the date the tax is due, and a bad check penalty if your remittance is not honored by your financial institution. Interest is calculated on
tax from the day after the original due date of your return through the date you pay the tax. We will bill you for penalties and interest. For
more information about penalties and interest, see Publication 103, Uniform Penalties and Interest. To receive a copy of this publication, visit
our web site at or call us at 1 800 356-6302.
What should I attach to this return?
If you are using an apportionment factor other than 1, please attach Pages 1 and 2 of Form IL-1120, IL-1120-ST, IL-1065, or Part IV of Sched-
ule UB (if you are part of a unitary group). Also attach a copy of the balance sheet from your annual report filed with the Illinois Commerce
Commission for this taxable period.
Note: If you are a member of a unitary group, you must use your separate apportionment factor.
If you amend the apportionment factor on your income tax return, you must amend your Form ICT-4.
Where can I get help?
If you have questions or need help completing your return, call our Springfield office weekdays between 8:00 a.m. and 4:30 p.m. at 217 782-8750.
Page 3 of 4
ICT-4 Instructions (R-07/01)
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial