Instruction For Form 120x - Amended Corporation Income Tax Return

Arizona Form 120X

Information question B: Check the Arizona adjustments

Line 9 - Apportionment Ratio

only box if the amended return is being filed to report only

(Multistate Taxpayers Only)

state changes. State change examples: apportionment ratio;

If the apportionment ratio is being amended, enter the amended

additions to or subtractions from federal taxable income.

apportionment ratio in column (c) from page 2, Schedule C,

Information question C: If this amended return is filed to

line C5 or from Schedule ACA, line 3. If the apportionment

ratio is not being amended, enter the apportionment ratio from

change the Arizona method of filing, check the appropriate

the 2006 Form 120, page 1, line 9, or as adjusted by any prior

box. Complete the Form 120X Schedule E to explain the

changes. Attach a completed Form 51 to Form 120X.

audit or amended return, whichever is latest. The taxpayer must

carry out the ratio on line 9 to six places.

Indicate the period covered by the taxable year, and whether

Refer to the Schedule ACA or Schedule C instructions for

the taxable year is a calendar year or a fiscal year.

more information. Do not enter an amount on page 1, line 9,

Enter the corporation's employer identification number,

before reading the Schedule ACA or Schedule C instructions.

which is the taxpayer identification number (TIN). If this is a

consolidated return, enter the TIN of the common parent

Line 16 - Arizona Tax

corporation. If this is a combined return, enter the TIN of the

Multiply Arizona taxable income [line 15(c)] by 6.968

corporation under which the group is filing.

percent. If the computed amount of tax is less than $50, enter

Enter the corporation's Arizona transaction privilege tax

the minimum tax of $50. See A.R.S. § 43-1111.

number.

Combined or consolidated returns - a unitary group or an

• If this is a consolidated return, enter the common parent

Arizona affiliated group is considered a single taxpayer. The

corporation's Arizona transaction privilege tax number. If

minimum tax is imposed on the single taxpayer rather than on

the common parent does not have an Arizona transaction

each corporation within the group.

privilege tax number, leave the box blank.

Line 17 - Tax from Recapture of Tax Credits

• If this is a combined return, enter the Arizona transaction

Enter the amount of tax due from recapture tax credits from

privilege tax number of the corporation under which the

Form 300, Part II, line 24.

group is filing. If this corporation does not have an Arizona

Line 18 - Subtotal

transaction privilege tax number, leave the box blank.

Add lines 16 and 17. This is the amount of tax to which the

All returns, statements, and other documents filed with the

Clean Elections Fund tax reduction and the total amount of

department require a TIN. Taxpayers that fail to include their

tax credits claimed by the taxpayer may be applied.

TIN may be subject to a penalty. Paid tax return preparers

must include their TIN where requested. The TIN for a paid

Line 20 - Nonrefundable Tax Credits

tax return preparer is the individual's social security number or

Enter the allowable nonrefundable tax credit amount from the

preparer identification number or the employer identification

Form 300, Part II, line 45. This amount cannot be larger than

number of the business. Paid tax return preparers that fail to

the amount on line 18 less the amount on line 19. Do not

include their TIN may be subject to a penalty.

include the refundable remainder of the retroactive

consolidated election tax credit on this line.

Lines 1 through 20 and lines 22 through 24 -

•

Defense Contracting Credits. There are two tax

NOTE: Columns (a) and (c) must be completed for each line

credits for qualified defense contractors. Qualified

whether or not a change has been made to a particular line.

defense contractors may claim a credit for net increases

Enter an amount in column (b) only if a change has been

employment

positions

under

United

States

made for a particular line.

Department of Defense contracts and in private

•

Column (a): Enter the amounts as shown on the original

commercial employment positions. There is also a

return or as adjusted by any prior audit, amended return,

credit for property taxes paid by a qualified defense

or Department of Revenue correction notice.

contractor. Complete Form 302 to claim these credits.

•

Column (b): Enter the amount(s) of any change(s).

•

Enterprise Zone Credit. Taxpayers located in an

Attach any schedules, forms, and/or statements which

enterprise zone may claim a tax credit for net increases in

are necessary to fully explain and substantiate the

qualified employment positions. Complete Form 304 to

change(s). The amounts entered in column (b) should be

claim this credit.

the net increase or net decrease for each line that has

•

Environmental Technology Facility Credit. This tax

been changed. Bracket all decreases entered in column (b).

credit is for costs incurred in constructing a qualified

•

Column (c): Add the increase in column (b) to the amount

environmental technology manufacturing, producing, or

in column (a) or subtract the decrease in column (b) from

processing facility as described in ARS § 41-1514.02.

column (a). Enter the result here. If the line has not been

Complete Form 305 to claim this credit.

changed, enter the amount from column (a) in column (c).

•

Military Reuse Zone Credit. This tax credit is for net

increases in employment of full-time employees working

Instruction For Form 120x - Amended Corporation Income Tax Return - 2006 Page 2

Related Articles

Related forms

Related Categories