Form Il-1120-St - Small Business Corporation Replacement Tax Return - 2006 Page 2
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314
14
Write your unmodified base income from Step 3, Line 13.
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Step 4: Figure your income or loss
15
15
State, municipal, and other interest income excluded from Line 14.
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16
16
Illinois replacement tax deducted in arriving at Line 14.
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17
17
Illinois Bonus Depreciation addition. Attach Form IL-4562.
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18
18
Related-Party Expenses addition. Attach Schedule 80/20.
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19
19
Distributive share of additions. Attach Schedule K-1-P or K-1-T.
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20
20
The amount of loss distributable to a shareholder subject to replacement tax. Attach IL-2569.
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21
21
Other additions. Attach Illinois Schedule M (for businesses).
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22
22
Add Lines 14 through 21. This amount is your income or loss.
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Step 5: Figure your Illinois base income or net loss
23
23
Interest income from U.S. Treasury obligations or other exempt federal obligations.
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24
.
24
Share of income distributable to a shareholder subject to replacement tax. Attach IL-2569
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25
25
Expenses incurred in producing certain federally tax-exempt income or federal credits.
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26
Enterprise Zone or River Edge Redevelopment Zone
26
Dividend subtraction. Attach Schedule 1299-A.
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27
Enterprise Zone or River Edge Redevelopment Zone
27
Interest subtraction. Attach Schedule 1299-A.
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28
28
High Impact Business Dividend subtraction. Attach Schedule 1299-A.
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29
29
High Impact Business Interest subtraction. Attach Schedule 1299-A.
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30
30
Contribution Subtraction. Attach Schedule 1299-A.
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31
31
Illinois Bonus Depreciation subtraction. Attach Schedule IL-4562.
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32
32
Related-Party Expenses subtraction. Attach Schedule 80/20.
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33
33
Distributive share of subtractions. Attach Schedule K-1-P or K-1-T.
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34
34
Other subtractions. Attach Schedule M (for businesses).
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35
35
Total subtractions. Add Lines 23 through 34.
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36
Base income or net loss. Subtract Line 35 from Line 22.
36 ___________________
If the amount on Line 36 is derived inside and outside Illinois, complete Step 6; otherwise go to Step 7.
Step 6: Figure your income allocable to Illinois
37
37
Nonbusiness income or loss. Attach Schedule NB.
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38
38
Non-unitary partnership business income or loss included in Line 36.
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39
39
Add Lines 37 and 38.
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40
40
Business income or loss. Subtract Line 39 from Line 36.
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41
41
Total sales everywhere. This amount cannot be negative.
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42
42
Total sales inside Illinois. This amount cannot be negative.
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43
43
Apportionment factor. Divide Line 42 by Line 41 (carry to six decimal places).
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44
44
Business income or loss apportionable to Illinois. Multiply Line 40 by Line 43.
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45
45
Nonbusiness income or loss allocable to Illinois. Attach Schedule NB.
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46
46
Non-unitary partnership business income or loss apportionable to Illinois.
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47
47
Base income or net loss allocable to Illinois. Add Lines 44 through 46.
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Step 7: Figure your net income
48
48
Base income or net loss from Step 5, Line 36, or Step 6, Line 47.
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49
Illinois net loss deduction. Attach Schedule NLD.
49
If Line 48 is zero or a negative amount, write “0.”
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50
50
Income after NLD. Subtract Line 49 from Line 48.
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IL-1120-ST (R-12/06)
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