Illinois Free Printable MC-1-X, Amended Medical Cannabis Cultivation Privilege Tax Return for 2017 Illinois Amended Medical Cannabis Cultivation Privilege Tax Return -N-05/15)

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2016-illinois-form-mc-1-x.pdf, and you can print it directly from your computer.

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

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 MC-1-X REV 01 FORM 961 E S _ _/_ _/_ _ _ _ NS DP CA RC Amended 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 496101110 _____________________________________________________________ City State ZIP Step 1: Figure the total number of ounces sold - Figures as they should have been reported 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. 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) 1 _________________ 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 - Figures as they should have been reported 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. 6 Add Lines 4 and 5. Total consideration received from dispensing organizations subject to tax. 7 Multiply Line 6 by 7% (.07). This is your privilege tax due. 8 Discount (See instructions.) 9 Subtract Line 8 from Line 7. This is your tax due after the discount. 10 Credit amount (See instructions.) 11 Subtract Line 10 from Line 9. This is your net tax due. 12 Total amount you previously paid for this reporting period. 13 If Line 12 is greater than Line 11, figure your overpayment by subtracting Line 11 from Line 12. 14 If Line 12 is less than Line 11, figure your underpayment by subtracting Line 12 from Line 11. Pay this amount. 5 6 7 8 9 10 11 12 13 14 _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ Step 3: Mark the reason you are filing this amended return I made a computation error that resulted in an overpayment of tax. • If you marked this box, was the overpaid tax collected from the dispensing organization(s)? yes no • If you marked “yes,” did you unconditionally refund the overpaid tax? yes no I made a computation error that resulted in underpayment of tax. I made an error on a schedule or attachment. The original License no. was incorrect. The incorrect License no. is MC - __ __ __ __ __. The original reporting period was incorrect. The incorrect reporting period is _______________. Other. Please explain. __________________________________________________________________________________________ Step 4: 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. The information in this return is taken from the records of the business for which it is filed. __________________________________________________ (_____) _____ - _______ Taxpayer's signature Phone ____ / ____ / ________ Date __________________________________________________ (_____) _____ - _______ ____ / ____ / ________ Preparer's signature Phone Date MC-1-X (N-05/15) 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. Reset Print
Extracted from PDF file 2016-illinois-form-mc-1-x.pdf, last modified September 2015

More about the Illinois Form MC-1-X Corporate Income Tax TY 2016

We last updated the Amended Medical Cannabis Cultivation Privilege Tax Return -N-05/15) in May 2017, so this is the latest version of Form MC-1-X, fully updated for tax year 2016. You can download or print current or past-year PDFs of Form MC-1-X directly from TaxFormFinder. You can print other Illinois tax forms here.

Other Illinois Corporate Income Tax Forms:

TaxFormFinder has an additional 75 Illinois income tax forms that you may need, plus all federal 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-ST-V Payment Voucher for Small Business Corporation Replacement Tax
Form IL-1120-ES 2016 Estimated Income and Replacement Tax Payments for Corporations
Schedule 1299-S Enterprise Zones, Foreign Trade Zones, and Sub-Zones

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-X from the Department of Revenue in May 2017.

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-X

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


2016 Form MC-1-X

MC-1-X, Amended Medical Cannabis Cultivation Privilege Tax Return

Amended Medical Cannabis Cultivation Privilege Tax Return -N-05/15) 2015 Form MC-1-X

MC-1-X, Amended Medical Cannabis Cultivation Privilege Tax Return


TaxFormFinder Disclaimer:

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.

** This Document Provided By TaxFormFinder.org **
Source: http://www.taxformfinder.org/illinois/form-mc-1-x