Form Il-1120 - Corporation Income And Replacement Tax Return - 2000 Page 2
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1
2Part III — Base income or loss allocable to Illinois
Complete Part III only if base income or loss is derived inside and outside Illinois.
1
1
Write your base income or loss from Part I, Line 7
____________|____
2 a
Nonbusiness income or loss, minus deductions allocable to that income and included
2a
in Part III, Line 1. (Attach Schedule NB. See Part III - General Instructions.)
____________|____
b
Business income or loss from non-unitary partnerships, trusts, and estates included
2b
in Part III, Line 1. (See instructions.)
____________|____
3
3
Add Lines 2a and 2b. This is the total of your subtractions.
____________|____
4
4
Subtract Line 3 from Line 1. This is your business income or loss.
____________|____
5
Business income apportionment formula. (Insurance companies, financial organizations, and transportation
companies see Special Apportionment Formulas instructions.)
a
5a
Total sales everywhere
_____________________________
b
5b
Total sales within Illinois
_____________________________
c
Divide Line 5b by Line 5a. (Carry to six decimal places.)
5c
This is your apportionment factor.
• ________________
6
6
Multiply Line 4 by Line 5c. This is your business income or loss apportionable to Illinois.
____________|____
7
7
Nonbusiness income or loss allocable to Illinois. (Attach Schedule NB. See Part III - General Instructions.)
____________|____
8
8
Business income or loss apportionable to Illinois from non-unitary partnerships, trusts, and estates. (See instr.)
____________|____
9
9
Add Lines 6 through 8. This is your base income or net loss allocable to Illinois. Write here and on Part IV, Line 1.
____________|____
Part IV — Net income and replacement tax
1
1
Write your base income or loss from Part III, Line 9, if applicable; otherwise from Part I, Line 7.
____________|____
a
Check this box if you are electing to forgo the Illinois NLD carryback period. (See instructions.)
2
2
Illinois net loss deduction (NLD). (Attach Schedule NLD.) Write “0” if Line 1 is zero or negative.
____________|____
3
3
Subtract Line 2 from Line 1 (cannot be less than zero). This is your income after NLD.
____________|____
4
4
Write your total base income or loss from Part I, Line 7.
____________|____
5
5
Divide Line 1 by Line 4. If Line 1 equals or exceeds Line 4, write “1.”
____________|____
6
6
Multiply Line 5 by $1,000. This is your standard exemption. If you are a short year filer, see General Information.
____________|____
7
7
Subtract Line 6 from Line 3. This is your net income. Write here and on Part V, Line 1.
____________|____
8 a
8a
Multiply Line 7 by 2.5% (.025). This is your replacement tax.
____________|____
b
8b
Recapture of investment credits from Schedule 4255. (See instructions.)
____________|____
9
9
Add Lines 8a and 8b. This is your total replacement tax before investment credits.
____________|____
10
10
Investment credits from Form IL-477. (Attach Form IL-477. See instructions.)
____________|____
11
Subtract Line 10 from Line 9 (cannot be less than zero.) This is your net replacement tax.
11
Write here and on Part II, Line 1.
____________|____
Part V — Income tax
1
1
Write the net income from Part IV, Line 7
____________|____
2 a
2a
Multiply Line 1 by 4.8% (.048). This is your income tax.
____________|____
b
2b
Recapture of investment credits from Schedule 4255. (See instructions.)
____________|____
3
3
Add Lines 2a and 2b. This is your total income tax before credits.
____________|____
4 a
4a
Income tax credits from Schedule 1299-D (Attach Schedule 1299-D.)
____________|____
b
4b
Credit for replacement tax paid (from worksheet, see instructions)
____________|____
c
4c
Carryforward of credit for replacement tax paid (from worksheet)
____________|____
5
5
Add Lines 4a through 4c. This is the total of your credits.
____________|____
6
6
Subtract Line 5 from Line 3 (cannot be less than zero). This is your net income tax. Write here and on Part II, Line 2.
____________|____
Part VI — This information must be completed by all taxpayers.
6
1
Check the method of accounting used in preparing this return.
If this is your final return, complete the date the business was
discontinued __ __/__ __/__ __ __ __ or
Cash
Accrual
Other (Specify: ____________)
2
sold
__ __/__ __/__ __ __ __
Write the state where your corporation’s trade or business is
Write the new owner’s name: ___________________________
principally directed or managed. State: ___________________
7
3
Write the date and amount of all 2000 Illinois estimated income
Write the city and state where your corporation’s accounting
and replacement tax payments made.
records are kept. City:_____________________ State: ______
4
Write the Illinois address of your principal place of business.
1st __ __/__ __/__ __ __ __
$ __________________
2nd __ __/__ __/__ __ __ __
$ __________________
Address: ___________________________________________
3rd __ __/__ __/__ __ __ __
$ __________________
City:_____________________ State: IL
ZIP:___________
5
4th __ __/__ __/__ __ __ __
$ __________________
Write the date of incorporation and state:
Credit from 1999
$ __________________
Date: __ __/__ __/__ __ __ __ State: ____________
Write your principal business activity: ___________________
Total
$ __________________
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-492-0089
IL-1120 back (R-12/00)
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