Form Il-1023-C - Composite Income And Replacement Tax Return - 2006
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Illinois Department of Revenue
Composite Income and
2006 Form IL-1023-C
Replacement Tax Return
or fiscal year beginning ___ ______ ___, 2006, ending ___ ______ ___, 20___ ___.
Due on or before the 15th day of the 4th month following the close of the tax year.
Do not write above this line.
6 6 6
_____________________________________________________________
______________________________
Name of partnership or S corporation
Federal employer identification number (FEIN)
Seq. code
_____________________________________________________________
______________________________
In care of
Illinois business tax (IBT) number
_____________________________________________________________
Check all that apply.
Mailing address
Name or address change
First return
Final return
_____________________________________________________________
City
State
ZIP
Partners or shareholders included are (check only one):
Check the return you filed
Form IL-1065
Form IL-1120-ST
Trusts/individuals/estates
Individuals/estates only
Step 1: Figure the composite income and income tax
1 a
1a
Write the amount of modified base income of the partnership or S corporation.
____________________
b
Write the total percentage of ownership for resident members in this
1b
composite return. (Stop - see instructions.)
___________________%
c
1c
Multiply Line 1a by Line 1b. Write the result here.
___________________
2 a
2a
Write the amount of modified base income allocable to Illinois.
____________________
b
Write the total percentage of ownership for nonresident members in this
2b
composite return.
___________________%
c
2c
Multiply Line 2a by Line 2b. Write the result here.
___________________
3
3
Add Lines 1c and 2c. This is the composite income.
___________________
4
4
Total income tax. Multiply Line 3 by 3% (.03). Write the total here and on Step 3, Line 7.
___________________
Step 2: Figure the replacement tax
(Complete only if this return includes any trust members.)
5
5
Write the amount of composite income included in Step 1, Line 3, that is subject to replacement tax.
___________________
6
6
Total replacement tax. Multiply Line 5 by 1.5% (.015). Write the result here and on Step 3, Line 8.
___________________
Step 3: Figure the total tax
7
7
Write the total income tax amount from Step 1, Line 4.
___________________
8
8
Write the total replacement tax amount from Step 2, Line 6.
___________________
9
9
Add Lines 7 and 8. This is the total amount of income and replacement tax.
___________________
10
10
Write the total amount prepaid on Form IL-1023-CES, plus any credit from your 2005 IL-1023-C.
___________________
11
11
Overpayment. If Line 10 is greater than Line 9, subtract Line 9 from Line 10. If not, go to Line 13.
___________________
12
12
Write the amount of overpayment you want credited to your 2007 composite tax.
___________________
13
13
Tax due. If Line 9 is greater than Line 10, subtract Line 10 from Line 9. This is your balance of tax due.
___________________
** Make your check or money order payable to “Illinois Department of Revenue” **
Do not write in this box.
Step 4: Sign below
Under penalties of perjury, I state that I have examined this return and, to the best of my knowledge, it is true,
correct, and complete and that each of the qualifying partners or shareholders is aware of, and complies with,
the rules and regulations set forth and made binding by this composite return.
______________________________________________/_____/_______
(_____)________________________
Signature of authorized agent
Date
Phone
Check if self-
______________________________________________/_____/_______
______________________________
employed
Signature of preparer
Date
Preparer's SSN, FEIN, or PTIN
_____________________________________
_____________________________________________
(_____)__________________
Preparer firm's name (or preparer if self-employed)
Address (firm's or preparer's if self-employed)
Phone
Mail this return to: Illinois Department of Revenue, P.O. Box 19009, Springfield, IL 62794-9009
FI
NS
XX
ME
DR__________
AL__________
CR
ID __________
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-492-2056
IL-1023-C (R-12/06)
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