Illinois Amended Corporation Income and Replacement Tax Return
Extracted from PDF file 2016-illinois-form-il-1120-x.pdf, last modified October 2016
Amended Corporation Income and Replacement Tax ReturnUse your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes. Illinois Department of Revenue 2016 IL-1120-X For tax years ending on or after December 31, 2016 Indicate what tax year you are amending: Tax year beginning month day year , ending 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. Amended Corporation Income and Replacement Tax Return A Enter your complete legal business name. If you have a name change, check this box. Name: L Enter your North American Industry Classification System (NAICS) Code. See instructions. Enter your mailing address. B If you have an address change, check this box. M Enter your Illinois corporate file (charter) number. C/O: City: State: ZIP: C Check the box if your business is a: N Check the applicable box for the type of change being made. NLD State change Federal change Mailing address: Combined return (unitary) $ K Enter your federal employer identification no. (FEIN). Step 1: Identify your corporation Enter the amount you are paying. If a federal change, check one: Foreign insurer Partial agreed D Check this box if you are filing this form only to report an increased Finalized net loss on Line 37, Column B. Enter the finalization date Attach your federal finalization to this return. E If you have completed the following, check the box and attach the federal O Check this box if you are filing Form IL-1120-X on or before the extended due date and are making the election to treat all nonbusiness income as business income. form(s) to this return, if you have not previously done so. Federal Form 8886 Federal Schedule M-3, Part II, Line 12 F Check this box if you attached Illinois Schedule UB. P Check this box if you are making a discharge of indebtedness adjustment on Line 36, or Schedule NLD or UB/NLD. (U.S Form 982) G Check this box if you attached Illinois Schedule 1299-D. H Check this box if you attached Form IL-4562. I Check this box if you attached Illinois Schedule M (for businesses). J Check this box if you attached Schedule 80/20. Q If you are filing Schedule INL, check this box. R If you annualized your income on your Form IL-2220, check this box. (IL-2220) If you owe tax on Line 71, complete a payment voucher, Form IL-1120-X-V. Write your FEIN, tax year ending, and “IL-1120-X-V” on your check or money order and make it payable to “ Illinois Department of Revenue.” Attach your voucher and payment below. Enter the amount of your payment on the top of this page in the space provided. Mail this return to: Illinois Department of Revenue, P.O. Box 19016, Springfield, IL 62794-9016 Step 2: Explain the changes on this return (Attach a separate sheet if necessary.) Attach your payment and Form IL-1120-X-V here. IL-1120-X (R-12/16) *163310001* Page 1 of 4 *163310002* Step 3: Figure your income or loss 1 2 3 4 1 Net operating loss deduction from U.S. Form 1120. 2 State, municipal, and other interest income excluded from Line 1. 3 Federal taxable income from U.S. Form 1120. A 00 00 00 Illinois income and replacement tax and surcharge deducted in arriving at Line 1. 00 00 4 5 Illinois Special Depreciation addition. Attach Form IL-4562. 5 6 Related-party expenses addition. Attach Schedule 80/20. 6 7 Distributive share of additions. Attach Schedule(s) K-1-P or K-1-T. 7 8 Other additions. Attach Illinois Schedule M for businesses. 8 9 Add Lines 1 through 8. This is your total income or loss. 9 B As most recently reported or adjusted (Whole dollars only) 00 00 00 00 Corrected amount (Whole dollars only) 1 2 3 00 4 5 6 7 8 9 00 10 11 12 13 14 15 16 17 18 19 20 21 22 23 00 00 00 00 00 00 00 00 Step 4: Figure your base income or loss 10 Interest income from U.S. Treasury and exempt federal obligations. 10 00 11 River Edge Redevelopment Zone Dividend subtraction. Attach Sch. 1299-B. 11 00 12 13 14 15 16 17 18 19 20 21 22 23 River Edge Redevelopment Zone Interest subtraction. Attach Sch. 1299-B. 12 00 High Impact Business Dividend subtraction. Attach Schedule 1299-B. 13 00 High Impact Business Interest subtraction. Attach Schedule 1299-B. 14 00 15 Contributions to certain job training projects. 16 Foreign Dividend subtraction. Attach Schedule J. 17 Illinois Special Depreciation subtraction. Attach Form IL-4562. 18 Related-party expenses subtraction. Attach Schedule 80/20. 19 Distributive share of subtractions. Attach Schedule(s) K-1-P or K-1-T. 20 Other subtractions. Attach Schedule M for businesses. 21 Total subtractions. Add Lines 10 through 21. 22 Base income or loss. Subtract Line 22 from Line 9. 23 00 Contribution subtraction. Attach Schedule 1299-B. 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 A If the amount on Line 23 is derived inside Illinois only, check this box and enter the amount from Step 4, Line 23 on Step 6, Line 35. You may not complete Step 5. (You must leave Step 5, Lines 24 through 34 blank.) B If any portion of the amount on Line 23 is derived outside Illinois, check this box and complete all lines of Step 5. See instructions. (If you are a unitary filer, you must complete Lines 28 through 30.) Step 5: Figure your income allocable to Illinois (Complete only if you checked the box on Line B, above.) 24 Nonbusiness income or loss. Attach Schedule NB. 24 00 24 00 25 Add Lines 24 and 25. 26 Business income or loss. Subtract Line 26 from Line 23. 27 Total sales everywhere (this amount cannot be negative). 28 Total sales inside Illinois (this amount cannot be negative). 29 Apportionment factor. Divide Line 29 by Line 28 (carry to six decimal places). 30 00 25 00 26 00 27 00 28 00 29 30 00 25 Business income or loss included in Line 23 from non-unitary partnerships, partnerships included on a Schedule UB, S corporations, trusts, or estates. See instructions. 26 27 28 29 30 31 Business income or loss apportionable to Illinois. Multiply Line 27 by Line 30. 00 00 00 00 31 00 31 00 32 Nonbusiness income or loss allocable to Illinois. Attach Schedule NB. 32 00 32 00 33 Business income or loss apportionable to Illinois from non-unitary partnerships, partnerships included on a Schedule UB, S corporations, trusts, or estates. See instructions. 00 33 34 00 33 34 Base income or loss allocable to Illinois. Add Lines 31 through 33. 34 Page 2 of 4 00 00 IL-1120-X (R-12/16) A Step 6: Figure your net income As most recently reported or adjusted 35 Base income or net loss from 00 35 Step 4, Line 23 or Step 5, Line 34. 35 00 36 36 Discharge of indebtedness adjustment. Attach U.S. Form 982. 36 00 37 37 Adjusted base income or net loss. Add Lines 35 and 36. 37 38 Illinois net loss deduction. If Line 37 is zero or negative, enter “0.” 38 00 38 Attach Schedule NLD or UB/NLD. 00 39 39 Net income. Subtract Line 38 from Line 37. 39 *163310003* Step 7: Figure your replacement tax after credits 40 Replacement tax. Multiply Line 39 by 2.5% (.025). 40 41 Recapture of investment credits. Attach Schedule 4255. 41 42 Replacement tax before credits. Add Lines 40 and 41. 42 43 Investment credits. Attach Form IL-477. 43 44 Replacement tax after credits. Subtract Line 43 from Line 42. If negative, enter “0.” 44 00 40 00 41 00 42 00 43 00 44 Step 8: Figure your income tax after credits 45 Income Tax. Multiply Line 39 by 5.25% (.0525). 45 46 Recapture of investment credits. Attach Schedule 4255. 46 47 Income tax before credits. Add Lines 45 and 46. 47 48 Income tax credits. Attach Schedule 1299-D. 48 49 Income tax after credits. Subtract Line 48 from Line 47. If negative, enter “0.” 49 00 00 00 00 00 Step 9: Figure your refund or balance due 00 50 Replacement tax before reductions. Enter the amount from Line 44. 50 00 51 Foreign Insurer replacement tax reduction. Attach Schedule INS or UB/INS. 51 00 52 Subtract Line 51 from Line 50. This is your net replacement tax. 52 00 53 Net income tax before reductions. Enter the amount from Line 49. 53 00 54 Foreign Insurer income tax reduction. Attach Schedule INS or UB/INS. 54 00 55 Subtract Line 54 from Line 53. This is your net income tax. 55 00 56 Compassionate Use of Medical Cannabis Pilot Program Act surcharge. See instr. 56 00 57 Total net income and replacement taxes and surcharge. Add Lines 52, 55, and 56. 57 00 58 a Credit from prior year overpayments. 58a 00 b Total estimated payments. 58b 00 c Form IL-505-B (extension) payment. 58c 00 d Pass-through withholding payments reported to you. Attach Sch. K-1-P or K-1-T. 58d 00 e Illinois gambling withholding. Attach Form(s) W-2G. 58e 59 Total payments. Add Lines 58a through 58e. 60 Tax paid with original return (do not include penalties and interest). 61 Tax payments made since the original return was filed. 62 Total tax paid. Add Lines 59, 60, and 61. 63 Total amount of previous refunds and credits for the year being amended, whether or not you received the overpayment. 64 Net tax paid. Subtract Line 63 from Line 62. 65 Overpayment. If Line 64 is greater than Line 57, subtract Line 57 from Line 64. 66 Amount of overpayment from Line 65 to be credited forward. See instructions. 67 Refund. Subtract Line 66 from Line 65. This is the amount to be refunded. 68 Tax due. If Line 57 is greater than Line 64, subtract Line 64 from Line 57. 69 Penalty. See instructions. 70 Interest. See instructions. 71 Total balance due. Add Lines 68 through 70. B Corrected amount 00 00 00 00 00 00 00 00 00 00 45 46 47 48 49 00 00 00 00 00 50 51 52 53 54 55 56 57 00 00 00 00 00 00 00 00 59 60 61 62 00 00 00 00 63 64 65 66 67 68 69 70 71 00 00 00 00 00 00 00 00 00 Step 10: 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. ( ) Check this box if the Department may Signature of authorized officer Date Title Phone discuss this return with the paid preparer shown in this step. Signature of paid preparer Paid preparer’s firm name IL-1120-X (R-12/16) Date Paid preparer’s PTIN ( ) Phone Address Reset Print Page 3 of 4 Attach supporting documents to your Form IL-1120-X. Failure to attach the required documents may result in the disallowance of the corresponding line item. If you completed: Form IL-1120-X Step 1, Line C (unitary) only U.S. 1120-X, and U.S. 1139 or federal RAR (if applicable) Schedule UB Check the box on Form IL-1120-X, Step 1, Line F. Step 1, Line C (foreign insurer) only Schedule INS Step 1, Line C (unitary) and (foreign insurer) Schedule UB and Schedule UB/INS Check the box on Form IL-1120-X, Step 1, Line F. Step 1, Line E Federal Form 8886 or Federal Schedule M-3 (as applicable) Step 1, Line N (federal change) Copy of federal finalization Step 1, Line P Federal Form 982 Step 1, Line Q Schedule INL Step 1, Line R Schedule 2220 Lines 5 and 18 Form IL-4562 Special Depreciation addition Check the box on Form IL-1120-X, Step 1, Line H. Special Depreciation subtraction Lines 6 and 19 Schedule 80/20 Related-party expenses addition Check the box on Form IL-1120-X, Step 1, Line J. Related-party expenses subtraction Lines 7 and 20 Schedule(s) K-1-P or K-1-T Distributive share of additions Distributive share of subtractions Lines 8 and 21 Schedule M and any required support listed on Schedule M Other additions Check the box on Form IL-1120-X, Step 1, Line I. Other subtractions Lines 11 through 15 Schedule 1299-B and any required support listed on Schedule River Edge Redevelopment Zone Dividend subtraction 1299-B River Edge Redevelopment Zone Interest subtraction High Impact Business Dividend subtraction High Impact Business Interest subtractions Contributions subtraction Line 17 Foreign Dividend Subtraction Illinois Schedule J, and U.S. 1120, Schedule C or equivalent Lines 24 and 32 Schedule NB Nonbusiness income or loss Nonbusiness income or loss allocable to Illinois Lines 25 and 33 Schedule(s) K-1-P or K-1-T Business income or loss from non-unitary partnerships, partnerships included on a Schedule UB, S corporations, trusts, or estates Business income or loss apportionable to Illinois from non-unitary partnerships, partnerships included on a Schedule UB, S corporations, trusts, or estates Line 36 Discharge of Indebtedness adjustment Federal Form 982 Check the box on Form IL-1120-X, Step 1, Line P. Line 38 Illinois net loss deduction Schedule NLD or UB/NLD (for unitary filers) Lines 41 and 46 Recapture of investment credit Schedule 4255 Line 43 Investment credits Form IL-477 and any required support listed on Form IL-477 Line 48 Income tax credits Schedule 1299-D and any required support listed in the Schedule 1299-D instructions. Check the box on Form IL-1120-X, Step 1, Line G. Lines 51 and 54 Foreign Insurer tax reduction Schedule INS or UB/INS (for unitary filers) Line 58d Pass-through withholding payments All Schedules K-1-P and K-1-T you received showing a reported to you pass-through withholding payment Line 58e Illinois gambling withholding All copies of Form W-2G IL-1120-X (R-12/16) *ZZZZZZZZZ* 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. Page 4 of 4
2016 IL-1120-X, Amended Corporation Income and Replacement Tax Return
More about the Illinois Form IL-1120-X Corporate Income Tax
We last updated the Amended Corporation Income and Replacement Tax Return in February 2017, and the latest form we have available is for tax year 2016. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Illinois Department of Revenue. You can print other Illinois tax forms here.
Other Illinois Corporate Income Tax Forms:
|Form Code||Form Name|
|Schedule K-1-P||Partner's or Shareholder's Share of Income, Deductions, Credits, and Recapture|
|Form IL-1120-ST-V||Payment Voucher for Small Business Corporation Replacement Tax|
|Form IL-1065-V||Payment Voucher for Partnership Replacement Tax|
|Form IL-1120||Corporation Income and Replacement Tax Return|
|Form IL-1041||Fiduciary Income and Replacement Tax Return (Includes Schedule D)|
Illinois usually releases forms for the current tax year between January and April. We last updated Illinois Form IL-1120-X from the Department of Revenue in February 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-X
We have a total of six past-year versions of Form IL-1120-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-X, Amended Corporation Income and Replacement Tax Return
2015 IL-1120-X, Amended Corporation Income and Replacement Tax Return
2014 IL-1120-X - Amended Corporation Income and 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.