Instructions For Form 1120x-Me

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1120X-ME
General Instructions
counting change, attach approval of acceptance from the Internal
Revenue Service; 5) if other, attach a written explanation of change.
Purpose of form:
Maine amended Form 1120X-ME must be filed
Column A:
Enter the amounts from your return as originally filed
if: 1) an amended federal return has been filed that affects the
or previously amended. If your return was adjusted or audited by
taxpayer’s liability; 2) the Internal Revenue Service has made a change
the State of Maine, enter the amounts as last adjusted.
or correction that affects the taxpayer’s liability; or 3) there are other
changes or corrections that affect the taxpayer’s liability.
Column B:
Enter the net increase or net decrease for each line that
is changed. Use a minus sign to the left of the number to indicate a
How to file:
Use Form 1120X-ME to correct Maine Form 1120ME
decrease.
or Form 1120A-ME for years beginning on or after January 1, 1991.
For years prior to 1991, use Form 1120ME for the year(s) you are
Column C:
This column must be filled out completely even if the
amending and print or type “amended” in the upper left corner of
amount in column A is not being adjusted. Combine the amounts in
the form. To obtain a form for the appropriate pre-1991 year being
column B and column A and enter the result in column C.
amended, call 207-624-7894.
SCHEDULES A - D:
Attach copies of federal Form 1120X or the Internal Revenue Agent
report to support changes shown on Maine Form 1120X-ME. In the
Check the amended box if the schedule is being changed as a result
event of a net operating loss, attach a copy of federal Form 1139 for
of this amended return and complete each schedule with the amended
each year that you are amending. An incomplete Form 1120X-ME
figures. Check the original or previously adjusted box if the sched-
cannot be processed. Attaching schedules or spreadsheets in lieu
ule shows the figures as last adjusted or originally filed. In all cases,
of completing this form is not acceptable.
properly complete columns A, B and C of Form 1120X-ME, lines 6,
7b and 8d as they relate to Schedules A, B and C.
Maine Revenue Services uses optical scanners to process Forms
1120ME and 1120X-ME; the use of these forms cannot be altered in
SCHEDULE A:
Schedule A is for corporations engaged in inter-
any way. Do not change line numbers or descriptions as these
state business. If this is the case, you must complete this schedule,
changes will not be detected when scanned. All dollar amounts
even if you are not changing the figures from the original or as
other than zero must be written in the appropriate column even if the
previously adjusted. See additional Schedule A instructions on
amount has not changed from a previous return or filing period. Any
pages 6 and 7.
box on Form 1120X-ME Column C which is left blank will be read as
a zero.
SCHEDULE B:
Complete this schedule even if figures are the
When to file:
Amended Maine income tax returns must be filed
same as originally filed or previously adjusted. The rate (line 25) is
within 90 days of the final determination of the change or correction
29.7% for years beginning in 1991 and 1992 and 27% for years 1993
of the filing of the federal amended return or Internal Revenue Agent
and after.
report. File form 1120X-ME only after you have filed an original
return.
SCHEDULE C:
If you had other credits on your original return,
you must enter those credits here, even if you are not making any
Generally, to receive a refund of taxes paid, Form 1120X-ME must be
adjustments. See additional Schedule C instructions on pages 7
filed within three years after the date the original return was filed, or
and 8.
within three years after the date the tax was paid, whichever is later.
This time limit does not apply when the Internal Revenue Service
SCHEDULE D:
A minimum tax credit is available for tax years
makes an adjustment that affects the taxpayer’s liability.
beginning on or after January 1, 1992. This credit is modeled after
the federal alternative minimum tax credit. Complete this schedule
Combined Reports:
Refer to the instructions for Form CR and
to calculate your credit. You must complete this schedule and enter
Combined Reporting in the corporate income tax booklet. You must
line g on Schedule C, line 29j , even if you are not changing the
attach a copy of Form CR to Form 1120X-ME if you are a member of
figures from the original return or as previously adjusted.
an unitary business group.
IMPORTANT: IF ALL REQUIRED LINES AND SCHEDULES
Specific Instructions
(INCLUDING FORM CR) ARE NOT COMPLETED, THE RE-
TURN IS INCOMPLETE AND WILL NOT BE CONSIDERED
Reason for change:
Check the appropriate box to identify the
A FILED RETURN. ALSO, PAGES 1-4 OF THE FEDERAL
RETURN MUST BE ATTACHED TO YOUR MAINE CORPO-
reason for filing this form: 1) if an Internal Revenue Service audit
RATE RETURN.
change, attach a copy of the federal audit; 2) if a net operating loss,
attach a copy of federal Form 1139; 3) if an amended federal Form
1120X, attach a copy of the federal amended return; 4) if an ac-
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