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Illinois Department of Revenue
2005
Income Tax Subtractions
Schedule 1299-C
or fiscal year
and Credits
(for individuals)
0
6
06
ending
/
Attach to your Form IL-1040, Individual Income Tax Return.
Attachment Sequence No. 1
–
–
Write your name as shown on Form IL-1040
Write your Social Security number
Read this information before completing this form:
General Information
What’s new for this year?
To correctly complete your 2005 Schedule 1299-C, you must refer
The Film Production Services Tax Credit is now available to be
to your 2004 Schedule 1299-C, Step 6 to determine the amount of
carried forward for five taxable years. Contact the Illinois Department
available credit carryforward that you may use on this 2005
of Commerce and Economic Opportunity (DCEO) for more
Schedule 1299-C.
information.
Step 1: Figure your subtractions
Enterprise Zone Dividend Subtraction
A
B
C
Corporation’s name
Name of zone
Dividend amount
1
a
a
b
b
c
c
2
2
Write any distributive share of enterprise zone subtractions from partnerships and S corporations.
3
3
Add Column C, Lines 1a through 1c and Line 2, and write the total here.
High Impact Business Dividend Subtraction (within a Foreign Trade Zone or sub-zone)
4 a
a
b
b
c
c
5
5
Write any distributive share of high impact business dividend subtractions from partnerships and S corporations.
6
6
Add Column C, Lines 4a through 4c and Line 5, and write the total here.
7
7
Add Lines 3 and 6. Write your total dividend subtraction here and on your Schedule M, Line 20.
Step 2: Figure your credits
(which may be carried forward for two years)
TECH-PREP Youth Vocational Programs Credit
x
8
.20 =
8
Write direct payroll expenses and amount for personal services.
Dependent Care Assistance Program Credit
x
9
.05 =
9
Write the expenses for on-site dependent care.
10
10
Add Lines 8 and 9. Write this amount here and in Step 4, Line 55.
Step 3: Figure your credits
(which may be carried forward for five years)
Film Production Services Tax Credit
11
Write your Film Production Services Tax Credit, including any amount passed through from
11
partnerships and S corporations.
Jobs Tax Credit
A
B
C
D
E
F
x
Name of zone
No. of employees
No. of employees
Col. B
Eligible employees
Column E
$500
—
this year
at end of base year
Col. C
included in Col. D
12
12
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-492-0094
Schedule 1299-C (R-12/05)
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