Illinois Medical Cannabis Cultivation Privilege Tax Return -N-05/15)

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Medical Cannabis Cultivation Privilege Tax Return -N-05/15)
MC-1, Medical Cannabis Cultivation Privilege Tax Return	
	

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Illinois Department of Revenue

REV 01 FORM 960
E S _ _/_ _/_ _ _ _
NS
DP CA
RC

MC-1	 Medical Cannabis Cultivation Privilege Tax Return

									

	

Identify your business

	 Account ID: ____ ____ ____ ____ ____ ____ ____ ____	

Do not write above this line.	

Reporting period: ___ ___ / ___ ___ ___ ___

	 License no.: MC - ____ ____ ____ ____ ____
	 Business name:	 ________________________________________________
	 Business address:	 ______________________________________________
Number and street
		
	 _____________________________________________________________
	City	

State	

496001110

ZIP

Step 1:	 Figure the total number of ounces sold -	Complete Schedule MC-2 and, if applicable, Schedule MC‑3 to 		
					

obtain the lines below.

	1	 Bulk medical cannabis - Total ounces of medical cannabis sold to dispensing organizations
		a	Total number of bulk ounces sold	
1a	_________________
			 (This is the total of Lines 1a of your attached Schedules MC-2)

		b	Total number of deductible bulk ounces	

			 (This is the total of Lines 1b of your attached Schedules MC-3)

1b	_________________

		
Subtract Line 1b from Line 1a. Net bulk ounces sold.		 	
1	 _________________
	2	 Infused medical cannabis - Total ounces of medical cannabis sold to dispensing organizations
		a	Total number of ounces infused into products sold	
2a	_________________
			 (This is the total of Lines 2a of your attached Schedules MC-2)

		b	Total number of deductible ounces infused into products	
			 (This is the total of Lines 2b of your attached Schedules MC-3)

2b	_________________

		
Subtract Line 2b from Line 2a. Net ounces infused into products sold.	
	3	Add Lines 1 and 2. Total ounces sold to dispensing organizations subject to tax.	

2	 _________________
3	 _________________

Step 2:	 Figure your privilege tax due
	4	 Bulk medical cannabis - Total consideration received from dispensing organizations
		a	Total consideration received for bulk ounces	
4a	_________________
			 (This is the total of Lines 4a of your attached Schedules MC-2)

		b	Total deductible consideration for bulk ounces	

			 (This is the total of Lines 4b of your attached Schedules MC-3)

4b	_________________

		
Subtract Line 4b from Line 4a. Net consideration received for bulk ounces. 	
	5	 Infused medical cannabis - Total consideration received from dispensing organizations
		a	Total consideration received for infused ounces	
5a	_________________
			 (This is the total of Lines 5a of your attached Schedules MC-2)

		b	Total deductible consideration for infused ounces	

			 (This is the total of Lines 5b of your attached Schedules MC-3)

4	 _________________

5b	_________________

		
Subtract Line 5b from Line 5a. Net consideration received for infused ounces.	
5	
	6	Add Lines 4 and 5. Total consideration received from dispensing organizations subject to tax.	 6	
	7	 Multiply Line 6 by 7% (.07). This is your privilege tax due.			
7	
	8	 If you file and pay the amount due by the due date, multiply Line 7 by 1.75% (.0175).	
8	
	9	 Subtract Line 8 from Line 7. This is your net tax due.			
9	
	10	 Credit amount (See instructions.)			
10	
	11	 Subtract Line 10 from Line 9. This is your payment due.			
11	
	Step

_________________
_________________
_________________
_________________
_________________
_________________
_________________

3:	 Sign below

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.
__________________________________________________	

(_____) _____ - _______	

____ / ____ / ________

Taxpayer's signature	

Phone	

Date

__________________________________________________	

(_____) _____ - _______	

____ / ____ / ________

Preparer's signature	

Phone	

Date

This form is authorized as outlined under the tax or fee Act imposing the tax or fee for which this form is filed. Disclosure of this
information is required. Failure to provide information may result in this form not being processed and may result in a penalty.

MC-1 (N-05/15)

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Extracted from PDF file 2023-illinois-form-mc-1.pdf, last modified April 2015

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More about the Illinois Form MC-1 Corporate Income Tax TY 2023

We last updated the Medical Cannabis Cultivation Privilege Tax Return -N-05/15) in February 2024, so this is the latest version of Form MC-1, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form MC-1 directly from TaxFormFinder. You can print other Illinois tax forms here.

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Related Illinois Corporate Income Tax Forms:

TaxFormFinder has an additional 75 Illinois income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Illinois Form MC-1.

Form Code	Form Name
Form MC-1-V	Payment Voucher for Medical Cannabis Cultivation Privilege Tax -N-05/15) Voucher
Form MC-1-X	Amended Medical Cannabis Cultivation Privilege Tax Return -N-05/15)
Form MC-1-X-V	Payment Voucher for Amended Medical Cannabis Cultivation Privilege Tax -N-05/15)

Download all IL tax forms View all 76 Illinois Income Tax Forms

Form Sources:

Illinois usually releases forms for the current tax year between January and April. We last updated Illinois Form MC-1 from the Department of Revenue in February 2024.

Show Sources >

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 MC-1

We have a total of eight past-year versions of Form MC-1 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

2023 Form MC-1