Form Il-516-I And Form Il-516-B Worksheet - 2016 Page 2
Download a blank fillable Form Il-516-I And Form Il-516-B Worksheet - 2016 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form Il-516-I And Form Il-516-B Worksheet - 2016 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4
5
6
7Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes.
Form IL-516-I and Form IL-516-B Worksheet
2016
Step 1: Check the following boxes to determine which worksheets you should complete.
(You may check multiple boxes.)
1
If you have nonresident individual and estate members that you wish to voluntarily prepay pass-through
withholding on behalf of, check this box and complete Step 2 of this worksheet. . . . . . . . . . . . . . . . . . . . .
2
If you have partnership or S corporation members that you wish to voluntarily prepay pass-through withholding
on behalf of, check this box and complete Step 3 of this worksheet. . . . . . . . . . . . . . . . . . . . . . . . . . .
3
If you have nonresident trust members that you wish to voluntarily prepay pass-through withholding on behalf of,
check this box and complete Step 4 of this worksheet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
If you have corporation members that you wish to voluntarily prepay pass-through withholding on behalf of, check
this box and complete Step 5 of this worksheet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
If you wish to prepay your own estimated tax liability, check this box and complete Step 6 of this worksheet. . . .
Step 2: Figure your pass-through withholding prepayments for nonresident individual and estate
members.
Complete each step that corresponds to the box you checked in Step 1. If you do not complete this step, enter “0” on Step 2,
Line 7, and Step 7, Line 1.
If you have nonresident individual and estate members that you wish to voluntarily prepay pass-through withholding on behalf of, you
must complete Form IL-516-I. To determine the amount of your prepayment, complete this worksheet. Keep this record for your files.
1
Enter your nonresident individual and estate members’ share of business income apportioned
1
to Illinois expected in 2016 (cannot be less than zero).
2
Enter your nonresident individual and estate members’ share of nonbusiness income allocable
to Illinois expected in 2016 (cannot be less than zero).
2
3
Add Lines 1 and 2 and enter the result.
3
4
4
Multiply Line 3 by 3.75% (.0375) and enter the result.
5
Partnership and S corporation filers only - Enter the amount of Illinois income tax credits
expected in 2016 to be passed to the members whose income is included on Lines 1 or 2.
5
6
Subtract Line 5 from Line 4 and enter the result.
6
7
Divide Line 6 by 4. This is the amount of each of your voluntary prepayments for nonresident
individual and estate members. Enter this amount on Step 7, Line 1.
7
Step 3: Figure your pass-through withholding prepayments for partnership or S corporation members.
Complete each step that corresponds to the box you checked in Step 1. If you do not complete this step, enter “0” on Step 3,
Line 7, and Step 7, Line 2.
If you have partnership or S corporation members that you wish to voluntarily prepay pass-through withholding for, complete this
worksheet. Keep this record for your files.
1
Enter your partnership or S corporation members’ share of business income apportioned
to Illinois expected in 2016 (cannot be less than zero).
1
2
Enter your partnership or S corporation members’ share of nonbusiness income allocable
2
to Illinois expected in 2016 (cannot be less than zero).
3
Add Lines 1 and 2 and enter the result.
3
4
Multiply Line 3 by 1.5% (.015) and enter the result.
4
5
Partnership and S corporation filers only - Enter the amount of Illinois replacement tax
investment credits expected in 2016 to be passed to the members whose income is included
on Lines 1 or 2.
5
6
Subtract Line 5 from Line 4 and enter the result.
6
7
Divide Line 6 by 4. This is the amount of each of your voluntary prepayments for partnership
or S corporation members. Enter this amount on Step 7, Line 2.
7
Form IL-516 Instructions (R-12/15)
Page 2 of 7
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form Il-516-i And Form Il-516-b - Pass-through Prepayment Voucher (for Withholding From Individuals And Estates)/ Pass-through Prepayment Voucher (for Withholding From Corporations, Partnerships, And Trusts) - 2015
Financial
Related Categories
Parent category: Financial