Instructions For Form Mo-1120x - Missouri Corporation Income Tax Amended Return printable pdf download

MISSOURI CORPORATION INCOME TAX AMENDED RETURN (FORM MO-1120X)

INSTRUCTIONS — FOR TAX YEARS 1992 AND PRIOR

GENERAL INSTRUCTIONS

Purpose of Form — Use Form MO-1120X to correct Missouri Form 20 or Form MO-1120, Corporation Income Tax Return, for tax years 1992 and prior,

as you originally filed it or as it was later adjusted by an amended return or an examination. Separate Form MO-1120Xs must be completed for each

reason or for each loss year carryback. For example, a 1990 loss and a 1991 loss must each be filed on a separate Form MO-1120X.

For tax years beginning January 1, 1993, use the Form MO-1120 from the tax year for which you are amending your taxes. For example, if

amending taxes for the 1993 tax year, you would do so on a 1993 Form MO-1120.

When to File — File Form MO-1120X only after the corporation has filed its original return. If the Federal return was also amended, please attach

a copy of Federal Form 1120X, 1139, Revenue Agent’s Report (4549A, 4549B, 5278, and any separate company schedules), or any other

Federal amended form. If a separate corporation loss occurred, attach a copy of page 1 of the proforma Federal Form 1120 and the consolidated

Federal Form 1120 for the loss year. Form MO-1120X is required to be filed within 90 days after the Federal Form 1120X is filed or Notice of Final

Determination (Section 143.601, RSMo).

Complete Part 1 when there is a loss carryback and/or credit carryback. A loss would include a net operating loss, capital loss, or product liability

loss. A taxpayer having a 1992 loss carryback and having paid Missouri income tax for 1989, 1990, or 1991 should file amended returns to the extent

the carryback is applied to those years. A loss carryback is required to be filed by the 15th day of the 39th month following the end of the loss year

(Section 143.801.6, RSMo).

Signature — A corporation income tax return is not considered valid unless it is signed. All required information must be supplied when applicable,

and a check in the full amount must accompany the return when a tax due is indicated.

When applicable, overpayments of interest, penalty or addition to tax will be refunded. An amended return filed due to a net operating loss will not

result in the refund of any previously charged interest, penalty or addition to tax, nor will it result in the abatement of the interest, penalty or addition to

tax if the original tax amount has not been paid (Section 143.811.5, RSMo).

SPECIFIC INSTRUCTIONS

Line 1 through 14:

COLUMN (A) — Enter the amounts reported or previously adjusted on the original Missouri Corporation Income Tax Return or Form MO-1120X.

COLUMN (B) — Enter the increases or decreases you are making and attach any documentation necessary to support the change.

COLUMN (C) — Add the increase in Column (B) to the amount in Column (A) or subtract the Column (B) decrease from Column (A). Enter the result

in Column (C). For any item not changed, enter the amount from Column (A) in Column (C).

Line 5 — Corporations which file a consolidated Federal return and a separate Missouri return must attach a schedule showing their Federal income

tax computations.

Line 12 — Recapture of Missouri Low Income Housing Credit — If your corporation is required to recapture a portion of any Federal Low Income

Housing credits taken on a low income project, your corporation is also required to recapture a portion of any Missouri credits. The Missouri recapture

amount is equal to the proportion of the Missouri credit that equals the proportion the Federal recapture amount bears to the original Federal Low

Income Housing credit amount subject to recapture (Section 135.355.2, RSMo). You must attach a copy of your Federal Form 8611.

Line 14 — Total Credits — Form MO-TC must be attached to Form MO-1120X.

Line 17 — Tax paid with (or after) the filing of the original return – Enter the amount of tax previously paid by check or money order on the original

return and any previous amended return filed. Do not include any previous interest, addition to tax, or penalties.

Line 19 — Overpayment — Enter the amount of overpayment received (or expected to be received) or the amount to be credited to estimated tax, as

shown or adjusted on the original return. Any refund due on the original return will be refunded separately from any additional refund claimed on Form

MO-1120X.

Line 23 — Overpayment to be Credited — Enter the amount of overpayment to be credited to next year’s estimated tax. This overpayment can only

be used when the next year’s return has not yet been filed.

Line 24 — Overpayment to be Refunded — Pursuant to Missouri Income Tax Law, Section 143.811, RSMo, interest will be allowed and paid at the

rate of 6% per year. Effective January 1, 2003, interest will be allowed on refunds at a rate to be determined by the State Treasurer’s Office on a

quarterly basis. Mail to Missouri Department of Revenue, P.O. Box 700, Jefferson City, MO 65101-0700.

Line 27 — Interest rates on Taxes Due — Interest is to be computed on a tax due using the following rates based upon the period(s) of delinquency:

January 1, 1973 to December 31, 1982

6% per year

January 1, 2001 to December 31, 2001

10%

January 1, 1983 to December 31, 1983

14%

January 1, 2002 to December 31, 2002

January 1, 1984 to December 31, 1984

12%

January 1, 2003 to December 31, 2003

January 1, 1985 to December 31, 1985

13%

January 1, 2004 to December 31, 2004

January 1, 1986 to December 31, 1995

12%

January 1, 2005 to December 31, 2005

January 1, 1996 to December 31, 1996

January 1, 2006 to December 31, 2006

January 1, 1997 to December 31, 1997

January 1, 2007 to December 31, 2007

January 1, 1998 to December 31, 1998

January 1, 2008 to December 31, 2008

January 1, 1999 to December 31, 1999

January 1, 2009 to December 31, 2009

January 1, 2000 to December 31, 2000

January 1, 2010 to December 31, 2010

January 1, 2011 to December 31, 2011

*To view the interest rates, you may access our web site at:

Line 29 — Total Due — After calculating the total tax due, including any addition to tax, interest and penalty, make check or money order payable to the

Missouri Department of Revenue and mail to P.O. Box 3365, Jefferson City, MO 65105-3365. If you have any questions, please call (573) 751-4541.

DOR-2811 (10-2011)