Form Ri-1120c - Rhode Island Business Corporation Tax Return - 2007
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2RI-1120C
Rhode Island Business Corporation Tax Return
2007
TO BE FILED BY C CORPORATIONS ONLY for calendar year 2007 or
Initial Return
fiscal year beginning ___________________ - ending _________________ .
Due on or before the 15
th
day of the 3
rd
month after close of the taxable year
C
Consolidated
NAME
Return
ADDRESS
Final Return
CITY
STATE
ZIP CODE
Short Year
FEDERAL IDENTIFICATION NUMBER
Address Change
A. Gross Receipts
B. Depreciable Assets
C. Intangible Addback
D. Sales Under 44-11-14 (a) (2) (i) (B)
Schedule A - Computation of Tax
Note: Attach legible copy of all pages and schedules of Federal Return
1.
1. Federal Taxable Income (see instructions) .......................................................................................................
2a.
Deductions
2. a. Net operating loss deduction (see instructions - attach schedule)....................
2b.
b. Special deductions.............................................................................................
2c.
c. Exempt dividends and interest - from page 2, Schedule B, line 10 ..................
2d.
d. Foreign dividend gross-up (s78) US 1120, Schedule C, Line 15 ......................
2e.
e. Bonus Depreciation and Section 179 expense adjustment................................
3
3
TOTAL DEDUCTIONS - Add lines 2a, 2b, 2c, 2d and 2e.................................................................................
4a.
Additions
4. a. Interest (see instructions) ...................................................................................
4b.
b. Rhode Island corporate taxes (see instructions) ...............................................
4c.
c. Bonus Depreciation and Section 179 expense adjustment...............................
d. Add back of captive REIT dividends paid deduction .........................................
4d.
5.
5. TOTAL ADDITIONS - Add line 4a, 4b, 4c and 4d.............................................................................................
6.
Apportioned
6. Adjusted taxable income - Line 1 less line 3 plus line 5...................................................................................
_._ _ _ _ _ _
7.
Taxable Income 7. Rhode Island Apportionment Ratio - from schedule F, line 5 ...........................................................................
8. Apportioned Rhode Island taxable income - Multiply line 6 by line 7 ...............................................................
8.
9.
Adjustments
9. Research and development adjustments (see instructions, attach schedule)..
10a.
10 a. Pollution control and hazardous waste adjustment (see instructions) ..............
10b
b. Capital investment deduction ............................................................................
11.
11. TOTAL ADJUSTMENTS - Add lines 9, 10a and 10b ........................................................................................
Tax and Credits 12. Rhode Island adjusted taxable income - line 8 plus or minus line 11 ......................................................................
12.
13.
13. Rhode Island income tax - 9% of line 12..........................................................................................................
14. RI Credits: Form#_______ $__________ Form#_______ $ __________ Form#_______ $ __________
14.
15. Tax - line 13 less line 14, but not less than $500.00 (see instructions for Franchise Tax Calculation) ............
15.
Check if a
16. (a.) Recapture of credits _______________ (b.) Jobs Growth Tax _______________ Total (a.) + (b.) .........
16.
Jobs Growth
Tax is being
17. Tax due - add lines 15 and 16 .........................................................................................................................
17.
reported on
18.
18. Payments made on 2007 declaration of estimated tax..........................................
line 16b.
19a.
19 a. Other payments .................................................................................................
19b.
b. Rhode Island Pass-through Withholding (Attach RI 1099PT to return).............
20.
20. TOTAL PAYMENTS - add lines 18, 19a and 19b......................................................................................................
21.
Balance Due
21. Net tax due - Line 17 less line 20 ..............................................................................................................................
22.
22. (a) Interest
(b) Penalty
(c) Form 2220 Interest
23.
23. Total due with return - Add lines 21 and 22. (Please use RI-1120V Form) ......................................................
24.
Refund
24. Overpayment - Line 20 less line 17 ..................................................................................................................
25.
25. Amount of overpayment to be credited to 2008 estimated tax .........................................................................
26.
26. Amount to be refunded - line 24 less line 25 ....................................................................................................
Under penalties of perjury, I declare that I have examined this return, including the accompanying schedules and statements, and to the best of my knowl-
edge it is true, correct and complete. Declaration of preparer (other than taxpayer) is based on all information of which he has any knowledge.
Date
Signature of authorized officer
Title
Date
Signature of preparer
Address of preparer
MAY THE DIVISION CONTACT YOUR PREPARER ABOUT THIS RETURN? YES
NO
Phone number
MAILING ADDRESS: RHODE ISLAND DIVISION OF TAXATION, ONE CAPITOL HILL, PROVIDENCE, RI 02908-5811
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