Schedule Ub/ins - Tax For A Unitary Business Group With Foreign Insurer Members Page 3
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1
2
3Write the amounts from Page 2, Line 38.
____________ 00 ____________ 00
____________ 00
38
Write the total from Line 38 in this space: ______________
Write the foreign insurer member’s share of Schedule 1299-D credits
39
from Line 18. Write the total in this space: ______________
____________ 00 ____________ 00
____________ 00
39
Add Lines 38 and 39. This is the foreign insurer member’s income tax
40
before applying credits. Write the total in this space: _______________
____________ 00 ____________ 00
____________ 00
40
Step 5: Figure the net income of your domestic members
Write the business income (loss) of the unitary business group from Form IL-1120, Line 27
____________ 00
41
.
41
Figure the apportionment formula.
42
Write the total Illinois premiums from Form IL-1120, Line 29.
____________ 00
a
42a
Write the foreign insurer members’ total premiums from the total line of Line 2a.
____________ 00
b
42b
Subtract Line 42b from Line 42a. This is the domestic members’ total Illinois premiums.
____________ 00
43
43
Write the everywhere premiums from Form IL-1120, Line 28.
____________ 00
44
44
Divide Line 43 by Line 44. Carry to six decimal places. This is the domestic members’ apportionment factor.
45
45
___ •
____________
Multiply Line 41 by Line 45. This is the domestic members’ business income (loss) apportioned to Illinois.
____________ 00
46
46
Write the domestic members’ nonbusiness income (loss) allocable to Illinois.
____________ 00
47
47
Write the domestic members’ non-unitary partnership business income (loss) apportioned to Illinois.
____________ 00
48
48
Add Lines 46 through 48. This is the domestic members’ base income or loss allocable to Illinois.
____________ 00
49
49
Write the unitary group’s base income or loss allocable to Illinois from your Form IL-1120, Line 34.
____________ 00
50
50
Divide Line 49 by Line 50. Carry to six decimal places. This is the domestic members’ share of Illinois
51
base income or loss. If negative, write “0.”
___
____________
51
•
Write the Illinois net loss deduction from your Form IL-1120, Line 38.
____________ 00
52
52
Multiply Line 52 by Line 51. This is the domestic members’ share of the Illinois net loss deduction.
____________ 00
53
53
Subtract Line 53 from Line 49. This is the domestic members’ net income.
____________ 00
54
54
Step 6: Figure your unitary group’s total tax
Multiply Line 54 by 2.5% (.025). This is the domestic members’ replacement tax.
____________ 00
55
55
Write the foreign insurer members’ total replacement tax from the total line of Line 35.
____________ 00
56
56
Add Lines 55 and 56.
____________ 00
57
57
Write the amount from your Form IL-1120, Step 6, Line 44.
____________ 00
57a
57a
Subtract Line 57 from Line 57a. This is your unitary group’s replacement tax reduction.
57b
Write this amount on your Form IL-1120, Step 8, Line 50a.
____________ 00
57b
Multiply Line 54 by 7% (.07). This is the domestic members’ income tax.
____________ 00
58
58
Write the recapture of investment credits from your Form IL-1120, Line 46.
____________ 00
59
59
Multiply Line 59 by Line 51. This is the domestic members’ share of recapture.
____________ 00
60
60
Add Lines 58 and 60. This is the total domestic members’ tentative income tax plus recapture.
____________ 00
61
61
Write the Schedule 1299-D credits from your Form IL-1120, Line 48.
____________ 00
62
62
Multiply Line 62 by Line 51. This is the domestic members’ share of Schedule 1299-D credits.
____________ 00
63
63
Subtract Line 63 from Line 61 (cannot be less than zero). This is the domestic members’ net income tax.
____________ 00
64
64
Write the foreign insurer members’ total income tax before credits from the total line of Line 40.
____________ 00
65
65
Write the foreign insurer members’ total share of credits from the total line of Line 39.
____________ 00
66
66
Subtract Line 66 from Line 65. This is the foreign insurer members’ total net income tax.
____________ 00
67
67
Add Lines 64 and 67.
____________ 00
68
68
Write the amount from your Form IL-1120, Step 7, Line 49.
____________ 00
68 a
68a
Subtract Line 68 from Line 68a. This is your unitary group’s income tax reduction.
68b
Write this amount on your Form IL-1120, Step 8, Line 51a.
____________ 00
68b
*333503110*
Page 3 of 3
Schedule UB/INS (R-12/13)
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