Schedule Sa (Form Il-1041) - Specific Accounting Method Of Computing Net Income For Fiduciaries

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Illinois Department of Revenue
Specific Accounting Method
Tax year ending
Schedule SA (IL-1041)
of Computing Net Income
______ ______
For tax years ending on or after January 1, 2015
for Fiduciaries
Month
Year
Attach to Form IL-1041 as the first attachment.
Step 1: Provide your business information
B
A
Enter your complete legal business name as shown on Form IL-1041.
Enter your federal employer identification no. (FEIN).
_______________________________________________________
___ ___ - ___ ___ ___ ___ ___ ___ ___
Name:
Step 2: Figure your base income or loss
A
B
Use the figures from Form IL-1041, Column B, Fiduciary, and
Pre-1/1/15
Post-12/31/14
the corresponding line items referenced below.
figures
figures
1
1
1
Federal taxable Income. (IL-1041, Line 1)
00
00
2
2
2
00
00
Federal net operating loss deduction. (IL-1041, Line 2)
3
3
3
Illinois addition modifications. (IL-1041, Lines 3 through 10)
00
00
4
4
4
Total income or loss. Add Lines 1 through 3. (IL-1041, Line 11)
00
00
5
5
5
Illinois subtraction modifications. (IL-1041, Line 25)
00
00
6
Base income or loss. (IL-1041, Line 26)
Residents: Skip Step 3 below and enter the amounts from Line 6 on Line 17.
6
6
Nonresidents: Complete Step 3 below and see instructions.
00
00
Step 3: Figure your apportionment factor (Nonresidents or part-year residents only)
7
7
7
Nonbusiness income or loss. See instructions.
00
00
8
Business income or loss from non-unitary partnerships,
8
8
trusts, or estates. See instructions.
00
00
9
9
9
Add Lines 7 and 8.
00
00
10
10
10
00
00
Business income or loss. Subtract Line 9 from Line 6.
11
11
Enter the total sales everywhere. (Schedule NR, Step 6, Line 1)
12
12
Enter the total sales within Illinois. (Schedule NR, Step 6, Line 2)
13
Apportionment factor.
Divide Line 12 by Line 11 and carry to six
13
decimal places. (Schedule NR, Step 6, Line 3)
14
Business income or loss apportionable to Illinois
14
14
Multiply Line 10 by Line 13, for each column.
00
00
15
15
15
Nonbusiness income or loss allocable to Illinois. See instructions.
00
00
16
Non-unitary partnerships, trusts, or estates
16
16
business income or loss apportionable to Illinois. See instructions.
00
00
Step 4: Figure your income tax
17
Base income or loss allocable to Illinois.
Residents: Enter the amounts from Columns A and B, Line 6. (IL-1041, Line 27)
17
17
Nonresidents: For each column, add Lines 14 through 16. (Schedule NR, Line 51)
00
00
18
18
Illinois net loss deduction. See Instructions. (IL-1041, Line 30)
00
19
Income after Illinois net loss deduction. See instructions.
Column A: Subtract Column A, Line 18 from Column A, Line 17.
19
19
Column B: Enter the amount from Column B, Line 17.
00
00
20
If Column A, Line 19 is negative: enter zero in Column A, Line 20,
and enter in Column B, Line 20, the result of adding Column B, Line 19, plus
Column A, Line 19. If Column B, Line 20, is negative do not use this schedule.
If Column A, Line 19 is positive: enter Column A, Line 19, on Column A,
20
20
00
00
Line 20, and enter Column B, Line 19, on Column B, Line 20.
21
21
21
Standard Exemption. See Instructions. (IL-1041, Line 31)
00
00
22
22
00
22
00
Net Income. Subtract Line 21 from Line 20. If negative, enter zero.
23
Tax.
Column A: Multiply Line 22 by 5% (.05).
:
23
23
Column B
00
00
Multiply Line 22 by 3.75% (.0375).
24
Add Columns A and B, Line 23, and enter the total
24
here and on your Form IL-1041, Line 40.
00
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.
Schedule SA (IL-1041) (R-12/14)
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