Schedule Ub/ins - Tax For A Unitary Business Group With Foreign Insurer Members

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Illinois Department of Revenue
Tax for a Unitary Business
Year ending
Schedule UB/INS
_____ _____
Group with Foreign
Month
Year
Insurer Members
Attach to your Form IL-1120.
IL Attachment No. 7
Name as shown on the tax return of the member filing the Schedule UB
Federal employer identification number (FEIN)
__________________________________________________________
___ ___ - ___ ___ ___ ___ ___ ___ ___
You must complete Steps 1 through 7 of your Form IL-1120 and all steps of your Schedule UB, Combined
Apportionment for Unitary Business Groups before completing this schedule.
Step 1: Figure your foreign insurer member’s
A
B
C
tentative tax
__ __-__ __ __ __ __ __ __
__ __-__ __ __ __ __ __ __
__ __-__ __ __ __ __ __ __
FEIN
FEIN
FEIN
Write your combined business income (loss) from Form IL-1120, Line 27.
____________ 00
____________ 00
____________ 00
1
1
Compute the foreign insurer member’s apportionment factor.
2
Write the foreign insurer member’s Illinois premiums net of eliminations.
a
____________ 00 ____________ 00
____________ 00
2a
Write the total in this space: ______________________
Write the total everywhere premiums from Form IL-1120, Line 28.
____________ 00 ____________ 00
____________ 00
b
2b
Divide Line 2a by Line 2b. Carry to six decimal places.
c
This is the foreign insurer member’s apportionment factor.
___
____________
___
____________
___
____________
2c
•
•
•
Multiply Line 1 by Line 2c. This is the foreign insurer member’s business
3
income (loss) apportioned to Illinois.
____________ 00
____________ 00
____________ 00
3
Write the foreign insurer member’s nonbusiness income (loss) allocable to IL.
____________ 00
____________ 00
____________ 00
4
4
Write the foreign insurer member’s non-unitary partnership business
5
income (loss) apportioned to Illinois.
____________ 00
____________ 00
____________ 00
5
Add Lines 3 through 5. This is the foreign insurer member’s base income
6
or loss allocable to Illinois.
____________ 00
____________ 00
____________ 00
6
Write the unitary group’s base income or loss allocable to Illinois
7
from your Form IL-1120, Line 34.
____________ 00
____________ 00
____________ 00
7
Divide Line 6 by Line 7. Carry to six decimal places. This is the foreign insurer
8
member’s share of Illinois base income or loss allocable to Illinois.
If negative, write “0.”
8 ___ •
____________
___
•
____________
___
•
____________
Write the Illinois net loss deduction from your Form IL-1120, Line 38.
____________ 00
____________ 00
____________ 00
9
9
Multiply Line 9 by Line 8. This is the foreign ins. member’s share of the NLD.
____________ 00
____________ 00
____________ 00
10
10
Subtract Line 10 from Line 6. This is the foreign insurer member’s net
11
income or loss.
____________ 00
____________ 00
____________ 00
11
Multiply Line 11 by 2.5% (.025)
.
12
This is the foreign insurer member’s tentative replacement tax.
____________ 00
____________ 00
____________ 00
12
Multiply Line 11 by 7.0% (.07). This is the foreign insurer member’s
13
tentative income tax.
____________ 00
____________ 00
____________ 00
13
Write the recapture of investment credits from your Form IL-1120, Line 46.
____________ 00
____________ 00
____________ 00
14
14
Multiply Line 14 by Line 8. This is the foreign ins. member’s share of recapture.
____________ 00
____________ 00
____________ 00
15
15
Add Lines 13 and 15. This is the tentative income tax plus recapture.
____________ 00
____________ 00
____________ 00
16
16
Write the Schedule 1299-D credits from your Form IL-1120, Line 48.
____________ 00
____________ 00
____________ 00
17
17
Multiply Line 17 by Line 8. This is the foreign insurer member’s share of
18
Schedule 1299-D credits.
____________ 00
____________ 00
____________ 00
18
Subtract Line 18 from Line 16 (cannot be less than zero.) This is the
19
foreign insurer member’s tentative net income tax.
____________ 00
____________ 00
____________ 00
19
Add Lines 12 and 19.
20
____________ 00
____________ 00
____________ 00
20
This is the foreign insurer member’s tentative total net tax.
*333501110*
Page 1 of 3
Schedule UB/INS (R-12/13)

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