Illinois Free Printable 2016 Schedule K-1-P(3), Pass-through Withholding Calculation for Nonresident Members for 2017 Illinois Pass-through Withholding Calculation for Nonresident Members

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Pass-through Withholding Calculation for Nonresident Members
2016 Schedule K-1-P(3), Pass-through Withholding Calculation for Nonresident Members

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 Y ear ending Pass-through Withholding Calculation for Nonresident Members 2016 Schedule K-1-P(3) ____ ____ Month Year To be completed by partnerships filing Form IL-1065 or S corporations filing Form IL-1120-ST Read this information first: • For tax year ending on or after December 31, 2016, only. • You must complete Schedule K-1-P(3) for each of your nonresident partners or shareholders who have not submitted a Form IL-1000-E to you. • Do not complete Schedule K-1-P(3) for any member who is a resident or who has submitted Form IL-1000-E to you. Keep this schedule with your income tax records. You must send us this information if we request it. Step 1: Identify your partnership or S corporation 1 ___________________________________________________ 2 ____ ____ - ____ ____ ____ ____ ____ ____ ____ Enter your name as shown on your Form IL-1065 or Form IL-1120-ST. Enter your federal employer identification number (FEIN). Step 2: Identify your nonresident partner or shareholder 3 ___________________________________________________ 4 _____________________________________________________ Name Social Security number or FEIN 5 Check the appropriate box to identify this nonresident partner’s or shareholder’s organization type. individual partnership corporation S corporation trust estate Step 3: Figure your nonresident partner’s or shareholder’s pass-through withholding If this member is a resident or has submitted Form IL-1000-E to you, do not complete this schedule for this member. 6 Add the amounts from this member’s Schedule K-1-P, Step 3, Column B, Lines 12 through 17 and 19 and 7 enter the total here. This is your member’s share of nonbusiness income allocable to Illinois before modifications and credits. See instructions before completing. 6 Add the amounts from this member’s Schedule K-1-P, Step 4, Column B, Lines 20 through 27 and 29 through 31 and enter the total here. This is your member’s share of business income allocable to Illinois before modifications and credits. See instructions before completing. 7 8 Add Line 6 and Line 7 and enter the result. 9 Add the amounts from this member’s Schedule K-1-P, Column B, Lines 32 through 37 and enter the total here. This is your member’s share of additions allocable to Illinois. 8 9 10 Add Line 8 and Line 9 and enter the result. 10 11 Add the amounts from this member’s Schedule K-1-P, Column B, Lines 38a through 47 and enter the total here. 12 If this member is an individual, partnership, trust, or estate and received Illinois August 1, 1969, appreciation amounts from you, see instructions. This is your member’s share of subtractions allocable to Illinois. 11 Subtract Line 11 from Line 10. If negative, enter zero. This is your member’s share of Illinois income subject to pass-through withholding. See instructions. 12 If this member is a nonresident individual or estate, enter “0” on Lines 13 through 15 and go to Line 16. 13 Replacement tax before credits. If this member is a partnership, S corporation, or nonresident trust, multiply Line 12 by 1.5% (.015) and enter the result. corporation, multiply Line 12 by 2.5% (.025) and enter the result. 13 14 Enter the amount of Illinois replacement tax investment credits passed to this member and available for use this year. 14 15 Subtract Line 14 from Line 13. If negative, enter zero. This is your member’s share of replacement tax 15 If this member is a nonresident partnership or S corporation, enter “0” on Lines 16 through 18 and go to Line 19. after credits. 16 Income Tax before credits. If this member is a(n) nonresident individual, estate, or trust, multiply Line 12 by 3.75% (.0375) and enter the result. See instr. corporation, multiply Line 12 by 5.25% (.0525) and enter the result. See instructions. 16 1 7 Enter the amount of Illinois income tax credits passed to this member and available for use this year. See instructions. 17 18 Subtract Line 17 from Line 16. If negative, enter zero. This is your member’s share of income tax after credits. 18 19 Add Lines 15 and 18 and enter the result. This is your member’s total pass-through withholding payment. Report this amount on this member’s Schedule K-1-P, Step 7, Line 54. You must also report this amount on your Form IL-1065 or Form IL-1120-ST, Schedule B, Section B, Column J, on the line which reports this member’s amounts. 19 Keep a copy of this schedule for each member with your income tax records. Do not send Schedule K-1-P(3) to your members or submit it to the Department unless we specifically request it from you. Schedule K-1-P(3) (R-12/16) This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to provide this information could result in a penalty. Reset Print *167810001*
Extracted from PDF file 2016-illinois-schedule-k-1-p-3.pdf, last modified October 2016

More about the Illinois Schedule K-1-P-3 Corporate Income Tax Nonresident TY 2016

We last updated the Pass-through Withholding Calculation for Nonresident Members in May 2017, so this is the latest version of Schedule K-1-P-3, fully updated for tax year 2016. You can download or print current or past-year PDFs of Schedule K-1-P-3 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-ES 2016 Estimated Income and Replacement Tax Payments for Corporations
Form IL-990-T-V Payment Voucher for Exempt Organization Income and Replacement Tax
Schedule 4255 Recapture of Investment Tax Credits

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 Schedule K-1-P-3 from the Department of Revenue in May 2017.

Show Sources >

Schedule K-1-P-3 is an Illinois Corporate Income Tax form. Many states have separate versions of their tax returns for nonresidents or part-year residents - that is, people who earn taxable income in that state live in a different state, or who live in the state for only a portion of the year. These nonresident returns allow taxpayers to specify which which income is subject to the state's taxes, and which is not.

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 Schedule K-1-P-3

We have a total of three past-year versions of Schedule K-1-P-3 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2016 Schedule K-1-P-3

2016 Schedule K-1-P(3), Pass-through Withholding Calculation for Nonresident Members

Pass-through Withholding Calculation for Nonresident Members 2015 Schedule K-1-P-3

2015 Schedule K-1-P(3), Pass-through Withholding Calculation for Nonresident Members

Schedule K-1-P(3), Pass-through Withholding Calculation for Nonresident Members 2014 Schedule K-1-P-3

2014 Schedule K-1-P(3), Pass-through Withholding Calculation for Nonresident Members


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