Illinois Amended Small Business Corporation Replacement Tax Return -includes Schedule B)
Extracted from PDF file 2016-illinois-form-il-1120-st-x.pdf, last modified October 2016
Amended Small Business Corporation Replacement Tax Return -includes Schedule B)Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes. Illinois Department of Revenue Amended Small Business Corporation Replacement Tax Return 2016 IL-1120-ST-X For tax years ending on or after December 31, 2016 Indicate what tax year you are amending: Tax year beginning month day year If you are filing an amended return for tax years ending before December 31, 2016, you cannot use this form. For prior years, use the amended return form for that year. month day year $ I Enter your federal employer identification no. (FEIN). Step 1: Identify your small business corporation A Enter your complete legal business name. If you have a name change, check this box. Name: B Enter your mailing address. If you have an address change, check this box. J Check this box if you are a member of a unitary business group, and enter the FEIN of the member who prepared the Schedule UB, Combined Apportionment for Unitary Business Group. Attach Schedule UB to this return. C/O: Mailing address: City: Enter the amount you are paying. , ending State: ZIP: Enter your North American Industry Classification K System (NAICS) Code. See instructions. L Enter your Illinois corporate file (charter) number. C Check this box if you are filing this form only to report an increased net loss on Line 49, Column B. D Check this box if you attached Form IL-4562. E Check this box if you attached Schedule M. F Check this box if you attached Schedule 80/20. G Check this box if you attached Schedule 1299-A. H Check the applicable box for the type of change being made. NLD State change Federal change If a federal change, check one: Partial agreed Finalized Enter the finalization date M Check this box if you are filing Form IL-1120-ST-X before the extended due date and making the election to treat all nonbusiness income as business income. N If you have completed the following, check the box and attach the federal form(s) to this return, if you have not previously done so. Federal Form 8886 Federal Schedule M-3, Part II, Line 10 O Check this box if you are making a discharge of indebtedness adjustment on Line 48, or Schedule NLD or UB/NLD. (U.S. Form 982) Attach your federal finalization to this return. Step 2: Explain the changes on this return (Attach a separate sheet if necessary.) Attach your payment and Form IL-1120-ST-X-V here. Step 3: Figure your ordinary income or loss A B Corrected As most recently reported or adjusted amount (Whole dollars only) (Whole dollars only) 00 00 1 Ordinary income or loss or equivalent from U.S. Schedule K. 1 1 00 00 2 Net income or loss from all rental real estate activities. 2 2 00 00 3 Net income or loss from other rental activities. 3 3 00 00 4 Portfolio income or loss. 4 4 00 00 5 Net IRC Section 1231 gain or loss. 5 5 6 All other items of income or loss that were not included in the computation of 00 00 income or loss on Page 1 of U.S. Form 1120S. Identify: ___________________ 6 6 00 00 7 Add Lines 1 through 6. This is your ordinary income. 7 7 Step 4: Figure your unmodified base income or loss 8 Charitable contributions. 8 9 Expense deduction under IRC Section 179. 9 10 Interest on investment indebtedness. 10 11 All other items of expense that were not deducted in the computation of ordinary income or loss on Page 1 of U.S. Form 1120S. Identify: ___________________ 11 12 Add Lines 8 through 11. 12 13 Subtract Line 12 from Line 7. This is your total unmodified base income or total loss. 13 IL-1120-ST-X (R-12/16) *163290001* 00 00 8 9 10 00 00 11 12 00 00 00 13 00 00 00 00 00 Page 1 of 5 Step 5: Figure your income or loss *163290002* A B As most recently reported or adjusted 14 Enter the amounts from Line 13. Unitary filers, see instructions. Corrected amount 14 00 14 00 15 State, municipal, and other interest income excluded from Line 14. 15 00 15 00 16 Illinois replacement tax and surcharge deducted in arriving at Line 14. 16 00 16 00 17 Illinois Special Depreciation addition. Attach Form IL-4562. 17 00 17 00 18 Related-party expenses addition. Attach Schedule 80/20. 18 00 18 00 19 Distributive share of additions. Attach Schedule(s) K-1-P or K-1-T. 19 00 19 00 20 The amount of loss distributable to a shareholder subject to replacement tax. Attach Schedule B. 20 00 20 00 21 Other additions. Attach Schedule M for businesses. 21 00 21 00 22 Add Lines 14 through 21. This is your total income or loss. 22 00 22 00 23 Interest income from U.S. Treasury and exempt federal obligations. 23 00 23 00 24 Share of income distributable to a shareholder subject to replacement tax. Attach Schedule B. 24 00 24 00 25 River Edge Redevelopment Zone Dividend subtraction. Attach Schedule 1299-A. 25 00 25 00 26 River Edge Redevelopment Zone Interest subtraction. Attach Schedule 1299-A. 26 00 26 00 Step 6: Figure your base income or loss 27 High Impact Business Dividend subtraction. Attach Schedule 1299-A. 27 00 27 00 28 High Impact Business Interest subtraction. Attach Schedule 1299-A. 28 00 28 00 29 Contribution subtraction. Attach Schedule 1299-A. 29 00 29 00 30 Illinois Special Depreciation subtraction. Attach Form IL-4562. 30 00 30 00 31 Related-party expenses subtraction. Attach Schedule 80/20. 31 00 31 00 32 Distributive share of subtractions. Attach Schedule(s) K-1-P or K-1-T. 32 00 32 00 33 Other subtractions. Attach Schedule M for businesses. 33 00 33 00 34 00 34 00 35 00 35 00 34 Total subtractions. Add Lines 23 through 33. 35 Base income or loss. Subtract Line 34 from Line 22. A If the amount on Line 35 is derived inside Illinois only, check this box and enter the amount from Step 6, Line 35 on Step 8, Line 47. You may not complete Step 7. (You must leave Step 7, Lines 36 through 46 blank.) B If any portion of the amount on Line 35 is derived outside Illinois, check this box and complete all lines of Step 7. See instructions. (If you are a unitary filer, you must complete Lines 40 through 42.) Step 7: Figure your income allocable to Illinois (Complete only if you checked the box on Line B, above.) 36 Nonbusiness income or loss. Attach Schedule NB. 36 00 36 00 37 Business income or loss included in Line 35 from non-unitary partnerships, partnerships included on a Schedule UB, S corporations, trusts, or estates. See instructions. 37 00 37 00 38 Add Lines 36 and 37. 00 38 00 00 39 00 00 40 00 00 41 00 2 4 00 43 00 44 00 partnerships, partnerships included on a Schedule UB, S corporations, trusts, or estates. See instructions. 45 00 45 00 46 Base income or loss allocable to Illinois. Add Lines 43 through 45. 00 46 00 38 39 Business income or loss. Subtract Line 38 from Line 35. 39 40 Total sales everywhere (this amount cannot be negative). 40 41 Total sales inside Illinois (this amount cannot be negative). 41 42 Apportionment factor. Divide Line 41 by Line 40 (carry to six decimal places). 42 43 Business income or loss apportionable to Illinois. Multiply Line 39 by Line 42. 43 44 Nonbusiness income or loss allocable to Illinois. Attach Schedule NB. 44 45 Business income or loss apportionable to Illinois from non-unitary Page 2 of 5 46 This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to provide information could result in a penalty. 00 IL-1120-ST-X (R-12/16) Step 8: Figure your net income *163290003* A As most recently reported or adjusted 47 Base income or net loss from Step 6, Line 35 or Step 7, Line 46. 47 48 Discharge of indebtedness adjustment. Attach U.S. Form 982. 48 49 Adjusted base income or net loss. Add Lines 47 and 48. 49 50 Illinois net loss deduction. Attach Schedule NLD. If Line 49 is zero or a negative amount, enter “0.” 50 51 Net income. Subtract Line 50 from Line 49. 51 B Corrected amount 00 00 00 47 48 49 00 00 00 00 00 50 51 00 00 Step 9: Figure your net replacement tax, surcharge, and pass-through withholding payments you owe 00 52 Replacement tax. Multiply Line 51 by 1.5% (.015). 52 52 00 53 Recapture of investment credits. Attach Schedule 4255. 53 53 00 54 54 Replacement tax before investment credits. Add Lines 52 and 53. 54 00 55 Investment credits. Attach Form IL-477. 55 55 00 56 56 Net replacement tax. Subtract Line 55 from Line 54. If negative, enter “0.” 56 00 57 57 Compassionate Use of Medical Cannabis Pilot Program Act surcharge. See instr. 57 58 Pass-through withholding payments you owe on behalf of your members. Enter 00 58 the amount from Schedule B, Section A, Line 9. See Instructions. Attach Sch. B. 58 59 Total net replacement tax, surcharge, and pass-through withholding payments you owe. Add Lines 56, 57, and 58. 59 00 59 00 00 00 00 00 00 00 00 Step 10: Figure your refund or balance due 60 Payments. See instructions. a Credit from prior year overpayments. b Form IL-505-B (extension) payment. c Pass-through withholding payments reported to you on Schedule(s) K-1-P or K-1-T. Attach Schedule(s) K-1-P or K-1-T. d Illinois gambling withholding. Attach Form(s) W-2G. e Form IL-516-I prepayments. f Form IL-516-B prepayments. 60a 60b 60c 60d 60e 60f 00 00 00 00 00 00 61 Total payments. Add Lines 60a through 60f. 61 62 Tax paid with original return (do not include penalties and interest). 62 63 Tax payments made since the original return was filed. 63 64 Total tax paid. Add Lines 61, 62, and 63. 64 65 Total amount previously refunded and credited for the year being amended, whether or not you received the overpayment. 65 66 Net tax paid. Subtract Line 65 from Line 64. 66 67 Overpayment. If Line 66 is greater than Line 59, subtract Line 59 from Line 66. 67 68 Amount of overpayment from Line 67 to be credited forward. See instructions. 68 69 Refund. Subtract Line 68 from Line 67. This is the amount to be refunded. 69 70 Tax due. If Line 59 is greater than Line 66, subtract Line 66 from Line 59. 70 71 Penalty. See instructions. 71 72 Interest. See instructions. 72 73 Total balance due. Add Lines 70 through 72. 73 00 00 00 00 00 00 00 00 00 00 00 00 If you owe tax on Line 73, complete a payment voucher, Form IL-1120-ST-X-V. Write your FEIN, tax year ending, and “IL-1120-ST-X-V” on your check or money order and make it payable to “Illinois Department of Revenue.” Attach your voucher and payment to the first page of this form. Enter the amount of your payment on the top of Page 1 in the space provided. Step 11: Sign here Under penalties of perjury, I state that I have examined this return and, to the best of my knowledge, it is true, correct, and complete. Signature of authorized officer Date Title Signature of paid preparer Date Paid preparer’s PTIN ( ) Phone Check this box if the Department may discuss this return with the paid preparer shown in this step. ( Paid preparer’s firm name 00 IL-1120-ST-X (R-12/16) Address ) Phone Mail this return to: Illinois Department of Revenue, P.O. Box 19016, Springfield, IL 62794-9016 Page 3 of 5 Illinois Department of Revenue *163080001* 2016 Schedule B Partners’ or Shareholders’ Information Attach to your Form IL-1065 or Form IL-1120-ST. Year ending Month Year IL Attachment no. 1 Enter your federal employer identification number (FEIN). Enter your name as shown on your Form IL-1065 or Form IL-1120-ST. • • Read this information first You must read the Schedule B instructions and complete Schedule(s) K-1-P and Schedule(s) K-1-P(3) before completing this schedule. You must complete Section B of Schedule B and provide all the required information for your partners or shareholders before completing Section A of Schedule B. Failure to follow these instructions may delay the processing of your return or result in you receiving further correspondence from the Department. You may also be required to submit further information to support your filing. Section A: Total members’ information (from Schedule(s) K-1-P and Schedule B, Section B) Before completing this section you must first complete Schedule(s) K-1-P, Schedule(s) K-1-P(3), and Schedule B, Section B.You will use the amounts from those schedules when completing this section. 1 Enter the total of all nonbusiness income or loss you reported on Schedule(s) K-1-P for your members. See instructions. 1 2 Enter the total of all income and replacement tax credits you reported on Schedule(s) K-1-P for your members. See instructions. 2 Totals for resident and nonresident partners or shareholders (from Schedule(s) K-1-P and Schedule B, Section B) 3 Add the amounts shown on Schedule B, Section B, Column E for all partners or shareholders on all pages for which you have entered a check mark in Column D. Enter the total here. See instructions. 3 Totals for nonresident partners or shareholders only (from Schedule B, Section B) 4 5 6 7 8 9 Enter the total pass-through withholding you reported on all pages of your Schedule B, Section B, Column J for your nonresident individual members. See instructions. 4 Enter the total pass-through withholding you reported on all pages of your Schedule B, Section B, Column J for your nonresident estate members. See instructions. 5 Enter the total pass-through withholding you reported on all pages of your Schedule B, Section B, Column J for your partnership and S corporation members. See instructions. 6 Enter the total pass-through withholding you reported on all pages of your Schedule B, Section B, Column J for your nonresident trust members. See instructions. 7 Enter the total pass-through withholding you reported on all pages of your Schedule B, Section B, Column J for your C corporation members. See instructions. 8 Add Line 4 through Line 8. This is the total pass-through withholding you owe on behalf of all your nonresident partners or shareholders. This amount should match the total amount from Schedule B, Section B, Column J for all nonresident partners or shareholders on all pages. Enter the total here and on Form IL-1065, Line 59, or Form IL-1120-ST, Line 58. See instructions. 9 Attach all pages of Schedule B, Section B behind this page. Page 4 of 5 Schedule B front (R-12/16) Illinois Department of Revenue 2016 Schedule B *163080002* Enter your name as shown on your Form IL-1065 or Form IL-1120-ST. Section B: Enter your federal employer identification number (FEIN). Members’ information (See instructions before completing.) A B C D Partner or SSN Shareholder or Name and Address type FEIN Subject to Illinois replacement tax or an ESOP E Member’s distributable amount of base income or loss F Excluded from pass-through withholding payments 1 Name C/O G H I J Share of Illinois income Pass-through Pass-through subject to withholding Distributable withholding pass-through before share of payment withholding credits credits amount (If Column F is blank, complete Column G through Column J. Otherwise, enter zero in Column G through Column J.) Addr. 1 Addr. 2 City State Zip State Zip State Zip State Zip State Zip 2 Name C/O Addr. 1 Addr. 2 City 3 Name C/O Addr. 1 Addr. 2 City 4 Name C/O Addr. 1 Addr. 2 City 5 Name C/O Addr. 1 Addr. 2 City If you have more members than space provided, attach additional copies of this page as necessary. Schedule B back (R-12/16) Page 5 of 5 Reset Print
2016 IL-1120-ST-X, Amended Small Business Corporation Replacement Tax Return
More about the Illinois Form IL-1120-ST-X Corporate Income Tax TY 2016
We last updated the Amended Small Business Corporation Replacement Tax Return -includes Schedule B) in May 2017, so this is the latest version of Form IL-1120-ST-X, fully updated for tax year 2016. You can download or print current or past-year PDFs of Form IL-1120-ST-X directly from TaxFormFinder. You can print other Illinois tax forms here.
Other Illinois Corporate Income Tax Forms:
|Form Code||Form Name|
|Form IL-1120-V||Payment Voucher for Corporation Income and Replacement Tax|
|Form IL-1120||Corporation Income and Replacement Tax Return|
|Form IL-1120-ES||2016 Estimated Income and Replacement Tax Payments for Corporations|
|Schedule 4255||Recapture of Investment Tax Credits|
|Form IL-1041-V||Payment Voucher for Fiduciary Income and Replacement Tax|
Illinois usually releases forms for the current tax year between January and April. We last updated Illinois Form IL-1120-ST-X from the Department of Revenue in May 2017.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Illinois Form IL-1120-ST-X
We have a total of six past-year versions of Form IL-1120-ST-X in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2016 IL-1120-ST-X, Amended Small Business Corporation Replacement Tax Return
2014, IL-1120-ST-X, Amended Small Business Corporation Replacement Tax Return
While we do our best to keep our list of Illinois Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.