Form Il-1120 - Illinois Corporation Income And Replacement Tax Return - Il Department Of Revenue - 1998 Page 2
Download a blank fillable Form Il-1120 - Illinois Corporation Income And Replacement Tax Return - Il Department Of Revenue - 1998 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form Il-1120 - Illinois Corporation Income And Replacement Tax Return - Il Department Of Revenue - 1998 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2Part III — Base income (loss) allocable to Illinois
Complete Part III only if base income (loss) is derived inside and outside Illinois.
1
1
Base income (loss) from Part I, Line 7
____________|____
2 a
Nonbusiness income (loss) net of deductions directly allocable to such income
2a
(Attach Schedule NB. See Part III - General Instructions.)
____________|____
b
Non-unitary partnership business income (loss) included in Part III, Line 1
2b
(See instructions.)
____________|____
3
3
Total. Add Lines 2a and 2b.
____________|____
4
4
Business income (loss). Subtract Line 3 from Line 1.
____________|____
5
Business income apportionment formula. (Insurance companies, financial organizations, and transportation
companies see Special Apportionment Formulas instructions.)
1
2
3
4
5
Total everywhere
Within Illinois
Ratio
Weighted
Weighted
factors
(cannot be negative)
(cannot be negative)
Column 2 ÷ Column 1
totals
(carry to six decimal places)
a
5a
• 166667
Property factor
_________________________ _________________________
___________ X
=
___________
•
•
b
5b
• 166667
Payroll factor
_________________________ _________________________
___________ X
=
___________
•
•
c
5c
• 666666
Sales factor
_________________________ _________________________
___________ X
=
___________
•
•
6
6 •
Apportionment factor. Add Column 5, Lines 5a through 5c. (See instructions.)
___________
7
7
Business income (loss) apportionable to Illinois. Multiply Line 4 by Line 6.
____________|____
8
8
Nonbusiness income (loss) allocable to Illinois (Attach Schedule NB. See Part III - General Instructions.)
____________|____
9
9
Non-unitary partnership business income (loss) apportionable to Illinois. (See instructions.)
____________|____
10
10
Base income or net loss allocable to Illinois. Add Lines 7 through 9. Write on Part IV, Line 1.
____________|____
Part IV — Net income and replacement tax
1
1
Base income (loss) from Part III, Line 10, if applicable; otherwise from Part I, Line 7
____________|____
a
Check this box if Line 1 above is a loss and you are electing to forgo the Illinois NLD carryback period.
2
2
Illinois net loss deduction (NLD). (Attach Schedule NLD.) Write “0” if Line 1 is zero or negative.
____________|____
3
3
Income after NLD. Subtract Line 2 from Line 1 (cannot be less than zero).
____________|____
4
4
Total base income (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
Standard exemption. Multiply Line 5 by $1,000. (Short year filers. See General Information.)
____________|____
7
7
Net income. Subtract Line 6 from Line 3. (Also write on Part V, Line 1.)
____________|____
8 a
8a
Replacement tax. Multiply Line 7 by 2.5% (.025).
____________|____
b
8b
Recapture of investment credits from Schedule 4255. (See instructions.)
____________|____
9
9
Total replacement tax before investment credits. Add Lines 8a and 8b.
____________|____
10
10
Investment credits from IL-477, Part I, Line 9. (Attach Form IL-477. See instructions.)
____________|____
11
11
Net replacement tax. Subtract Line 10 from Line 9 (cannot be less than zero). Write on Part II, Line 1.
____________|____
Part V — Income tax
1
1
Net income from Part IV, Line 7
____________|____
2 a
2a
Income tax. Multiply Line 1 by 4.8% (.048).
____________|____
b
2b
Recapture of investment credits from Schedule 4255. (See instructions.)
____________|____
3
3
Total income tax before credits. Add Lines 2a and 2b.
____________|____
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
Total credits. Add Lines 4a through 4c.
____________|____
6
6
Net income tax. Subtract Line 5 from Line 3 (cannot be less than zero). Write on Part II, Line 2.
____________|____
Part VI — This information must be completed by all taxpayers.
1
6
Check the method of accounting used in preparing this return.
If this is a final return, complete the date the business was
Cash
Accrual
Other (Specify: ___________________)
discontinued ____/____/____ or
sold ____/____/____
2
In which state is the corporation’s trade or business principally
New owner’s name: ____________________________________
7
directed or managed? __________________________________
Write the date and amount of all 1998 Illinois estimated income
3
Where are the corporation's accounting records?
tax payments made.
City, state: ___________________________________________
1st _____/_____/_____
$ _____________________
4
Where is your principal place of business in Illinois?
2nd _____/_____/_____
$ _____________________
Address: ____________________________________________
3rd _____/_____/_____
$ _____________________
5
Date of incorporation: ____/____/____ and state: ____________
4th _____/_____/_____
$ _____________________
Principal business activity: ______________________________
Credit from 1997
$ _____________________
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-12/98)
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial