Form Il-1120-St - Small Business Corporation Replacement Tax Return 2010 Page 3
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Step 7: Figure your net income
47
47
Base income or net loss from Step 5, Line 35, or Step 6, Line 46.
_______________ 00
48
48
Discharge of Indebtedness adjustment. Attach federal Form 982. See instructions.
_______________ 00
49
49
Adjusted base income or net loss. Add Lines 47 and 48.
_______________ 00
50
Illinois net loss deduction. Attach Schedule NLD.
50
If Line 49 is zero or a negative amount, write “0”.
_______________ 00
51
51
Net income. Subtract Line 50 from Line 49.
_______________ 00
Step 8: Figure your net replacement tax
52
52
Replacement tax. Multiply Line 51 by 1.5% (.015).
_______________ 00
53
53
Recapture of investment credits. Attach Schedule 4255.
_______________ 00
54
54
Replacement tax before investment credits. Add Lines 52 and 53.
_______________ 00
55
55
Investment credits. Attach Form IL-477.
_______________ 00
56
56
Net replacement tax. Subtract Line 55 from Line 54. Write “0” if this is a negative amount.
_______________ 00
Step 9: Figure your refund or balance due
57
Payments
a
57a
Credit from 2009 overpayment.
_______________ 00
b
57b
Form IL-505-B (extension) payment.
_______________ 00
c
57c
Pass-through entity payments. Attach Schedule(s) K-1-P or K-1-T.
_______________ 00
d
57d
Gambling withholding. Attach Form(s) W-2G.
_______________ 00
58
58
Total payments. Add Lines 57a through 57d.
_______________ 00
59
59
Overpayment. If Line 58 is greater than Line 56, subtract Line 56 from Line 58.
_______________ 00
60
60
Amount to be credited to 2011.
_______________ 00
61
61
Refund. Subtract Line 60 from Line 59. This is the amount to be refunded.
_______________ 00
62
Tax Due. If Line 56 is greater than Line 58, subtract Line 58 from Line 56.
62
This is the amount you owe.
_______________ 00
Make your check payable to “Illinois Department of Revenue” and attach to the fi rst page of this form.
Write the amount of your payment on the top of Page 1 in the space provided.
Step 10: 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.
_____________________________________________ ___ ___ ____
_________________________
(_____)__________
Signature of authorized offi cer
Date
Title
Phone
_____________________________________________ ___ ___ ____
____________________________________________
Signature of preparer
Date
Preparer’s Social Security number or fi rm’s FEIN
_____________________________________________ _______________________________________
(_____)__________
Preparer fi rm’s name (or yours, if self-employed)
Address
Phone
Mail this return to: Illinois Department of Revenue, P.O. Box 19032, Springfi eld, IL 62794-9032
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-492-0073
IL-1120-ST (R-12/10)
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