Form Ia 1120 - Iowa Corporation Income Tax Return - 2015

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Iowa Department of Revenue
2015 IA 1120
https://tax.iowa.gov
Iowa Corporation Income Tax Return
Step 1
Tax Period:
to
Postmark
Office Use Only
Address Change
Check the box if:
Short Period
Corporation Name and Address
Federal Employer Identification Number (FEIN):
County No:
Business Code:
Is this a first or final return? If yes, check the appropriate box.
Successor
First Return:
New Business
Entering Iowa
Reorganized
Merged
Dissolved
Name of contact person:
Final Return:
Phone:
(
)
Withdrawn
Bankruptcy
Other
Step 2 Filing Status
Filing Status:
1 Separate Iowa/Separate Federal ....
2 Separate Iowa/Consolidated Federal ....
3 Consolidated Iowa/Consolidated Federal .
Type of Return:
1 Regular Corporation…
2 Cooperative…
3 UBIT…
Is this an inactive corporation?
Yes
No
Was federal income or tax changed for any prior period?
Yes
No
Period(s)
Do you have property in Iowa?
Yes
No
Use whole dollars
Step 3
1. Net Income from federal return before federal net operating loss ................................................................ 1.
Net Income
2. 50% of federal tax refund. ...... Accrual
Cash
............................................................... 2.
and
Additions to
3. Other additions from Schedule A ................................................................................................................ 3.
Income
4. Net Income after additions. Add lines 1 through 3. ...................................................................................... 4.
▲ ............. 5.
Step 4
5. 50% of federal tax paid or accrued .... Accrual
Cash
Reductions to
6. Other reductions from Schedule A. ..................................................................... 6.
Income
7. Total reductions. Add lines 5 and 6 ............................................................................................................. 7.
8. Net income after reductions. Subtract line 7 from line 4 .............................................................................. 8.
Step 5
9. Nonbusiness income from Schedule D, line 17 ............................................................................................. 9.
Taxable
10. Income subject to apportionment. Subtract line 9 from line 8....................................................................... 10.
Income
% ▲
11. Iowa percentage from Schedule E. See instructions ................................................................................... 11.
12. Income apportioned to Iowa. Multiply line 10 by line 11 ............................................................................... 12.
13. Iowa nonbusiness income from Schedule D, line 8 ..................................................................................... 13.
14. Income before Net Operating Loss. Add lines 12 and 13 ............................................................................. 14.
15. Net Operating Loss Carryforward from Schedule F. Include Schedule F ..................................................... 15.
16. Income subject to tax. Subtract line 15 from line 14. Do not enter an amount below $0 .............................. 16.
Step 6
17. Computed tax. For tax rates, see bottom of page 3. Check box if tax is annualized
........................... 17.
Tax, Credits
18. Alternative Minimum Tax from page 4, Sch. IA 4626. Check box if claiming small business exemption.
18.
and
19. Total tax. Add lines 17 and 18 .................................................................................................................... 19.
Payments
20. Credits from Schedule C1, line 4. Do not include estimated tax credit. ...............20.
21. Payments from Schedule C2, line 4 ...................................................................21.
22. Total credits and payments. Add lines 20 and 21 ........................................................................................ 22.
23. Net amount. Subtract line 22 from line 19 ................................................................................................... 23.
Step 7
24. Tax due if line 23 is greater than $0 ............................................................................................................ 24.
Balance Due
25. Penalty; underpayment of estimated tax. Include IA 2220 ........................................................................... 25.
26. Penalty; failure to timely pay or failure to timely file ..................................................................................... 26.
27. Interest ....................................................................................................................................................... 27.
28. Total amount due. Add lines 24 through 27. Pay electronically, or submit payment with form IA 1120V ...... 28.
Step 8
29. Overpayment if line 23 is less than $0 ........................................................................................................ 29.
Overpayment
30. Credit to next period’s estimated tax ........................................................................................................... 30.
31. Refund requested. Subtract line 30 from line 29 ......................................................................................... 31.
A complete copy of your federal return, as filed with the Internal Revenue Service, must be filed with this return. For filing status 2 or 3, you must include
pages 1-5 of your consolidated federal return, consolidating income statements, Iowa Schedule H and any other forms related to the Iowa return.
42-001a (07/02/15)

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