Instructions For 2014 Form 6i: Wisconsin Adjustments For Insurance Companies printable pdf download

Instructions for 2014 Form 6I:

Wisconsin Adjustments for Insurance Companies

Purpose of Form 6I

from, or not included in, the federal taxable income

you reported on Form 6, line 1.

When a corporation computes its Wisconsin fran-

■ Line 3. Deduction for Discounting Unpaid Loss-

chise or income tax liability, certain aspects of its tax

computation are different if the corporation is an in-

es – Enter any deduction under section 847 of the

surance company. Subchapter VII of chapter 71 of

Internal Revenue Code that was claimed in compu-

the Wisconsin Statutes provides for these differ-

ting the federal taxable income you reported for the

ences.

insurance company on Form 6, line 1.

■ Line 4. Total – Include the amount from line 4 in

Whether or not a corporation is an insurance compa-

ny, it uses Form 6 to compute its Wisconsin franchise

the amount on Form 6, Part II, line 2h.

or income tax liability under combined reporting. The

purpose of Form 6I is to account for adjustments an

insurance company must make so the amounts on

Form 6 reflect the corporation’s status as an insur-

Part II: Nontaxable Income from

ance company.

Life Insurance Operations

Enter the information for each member in a separate

This is where you compute the nontaxable income

column. If there are more than three members, use

from life insurance operations. This amount is carried

additional Forms 6I. For example, if there are seven

forward to Form 6, Part II, line 4.

members in the combined group, enter members one

■ Line 5. Federal Taxable Income –Enter the

through three on Form 6I (do not complete the com-

bined total column yet). Next, enter members four

amount included in Form 6, Part II, line 1. that is at-

through six on an additional Form 6I (do not complete

tributable to the insurance company.

the combined total column yet). Finally, complete a

new Form 6I for the seventh and final member.

If this is a combined return and the insurance com-

Complete the combined total column on the last Form

pany has a net capital gain reportable on Form N,

6I for all group members.

Wisconsin Nonapportionable and Separately Appor-

tionable Income, add that net capital gain to the

amount from Form 6, Part II, line 1 and enter the total

Line-by-Line Instructions

on line 5 of Form 6I.

These instructions are presented in the order the

■ Line 6. Total Addition Modifications – Enter the

lines appear on Form 6I:

company’s total Wisconsin addition modifications. for

the portion of the amount on Form 6, Part II, line 2l

that is attributable to the insurance company.

■ Line 8. Subtraction Modifications – Add the por-

Part I: Additions Specific to Insurance Companies

tion of the amounts on Form 6, Part II, lines 4a

This is where you compute Wisconsin addition

through 4k plus line 4m and 4o that is attributable to

modifications that are unique to insurance companies

the insurance company and enter the total.

so you can include them on Form 6, Part II, line 2h.

■ Line 1. Loss Carryforward – Enter the insurance

NOTE: To complete lines 10a and 10b, refer to the

Annual

Statement

adopted

the

National

company’s loss carryforward, including any capital

Association of Insurance Commissioners for the

loss carryforward previously deducted for Wisconsin,

year 2014, as filed with the Commissioner of

that was deducted in computing the federal taxable

Insurance of the State of Wisconsin. For life and

income you reported on Form 6, line 1.

accident and health insurance companies, refer to

■ Line 2. Dividend Income – Enter the insurance

the Summary of Operations, Analysis of Operations

by Lines of Business.

company’s dividend income received during the tax-

able year to the extent the dividends were deducted

IC-402

Instructions For 2014 Form 6i: Wisconsin Adjustments For Insurance Companies

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