Illinois Tax Subtractions and Credits -for partnerships and S corporations)

Tax Subtractions and Credits -for partnerships and S corporations)
2025 Schedule 1299-A, Tax Subtractions and Credits (for partnerships and S corporations)
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Illinois Department of Revenue

*34012251W*

2025 Schedule 1299-A

	

Year ending

Tax Subtractions and Credits (for partnerships and S corporations)	

	

_____ _____

For tax years ending on or after December 31, 2025.
Attach to your Form IL-1065 or IL-1120-ST.

		

Month

			

	

Enter your name as shown on your return.	

Year

IL Attachment No. 9

–

Enter your federal employer identification number (FEIN).

	

Read this information before completing this schedule: Refer to Schedule 1299-I, Income Tax Credits Information and Worksheets,
and Schedule 1299-A Instructions for information on how to complete this schedule. All figures should be rounded to whole dollars. If you have
more subtractions or credits than lines available, attach a separate schedule in the same format with all the required information.

Step 1:	 Figure your subtractions

	River Edge Redevelopment Zone Dividend Subtraction				

			
			

A					
Corporation’s name			

B		
Name of zone		

C		
Dividend amount

	 1	a	
	 a	
	
	 	 b	
	b	
	
		
c	
	 c	
	
	 2	Enter any distributive share of River Edge Redevelopment Zone Dividend Subtraction from partnerships,	
		S corporations, and trusts. Attach Schedule(s) K-1-P or K-1-T.			
2	
	 3	Add Column C, Lines 1a through 1c, and Line 2, plus the total from all separate schedules. Enter your total
		
River 	Edge Redevelopment 	Zone Dividend Subtraction here and on F
	 orm IL-1065, Line 28 or
		Form IL-1120-ST, Line 25.		
			

3	

	High Impact Business within a Foreign Trade Zone (or sub-zone) Dividend Subtraction

			

A					
Corporation’s name			

			

B		
Name of zone		

C		
Dividend amount

	 a	
	 4	a	
	
	b	
		
b	
	
	 c	
		
c	
	
	 5	Enter any distributive share of High Impact Business Dividend Subtraction 	from partnerships, S corporations,					
		and trusts. Attach Schedule(s) K-1-P or K-1-T.					
5	
	 6	Add Column C, Lines 4a through 4c, and Line 5, plus the total from all separate schedules. Enter your total
		
High Impact Business Dividend Subtraction 	here and on F
	 orm IL-1065, Line 29 or
		Form IL-1120-ST, Line 27.		
			

	Contribution Subtraction (Form IL-1120-ST filers only)

			
			
	 7	a	

A			
Name of zone			
		

B			
Zone organization		

6	

C	
Contribution amount	
	 a	
		
	 b	
	

	b	
		
		
c	
		
	
	 8		Enter any distributive share of Contribution Subtraction 	from S corporations. Attach Schedule(s) K-1-P.	
	 9		Add Column D, Lines 7a through 7c, and Line 8, plus the total from all separate schedules. Enter your total
	

D		
Column C x 2

	 c	

8	

9	
	Interest Subtraction - River Edge Redevelopment Zones (Form IL-1120-ST financial organizations only)

		
Contribution Subtraction here and 	on Form IL-1120-ST, Line 29.			
A	
	
				
Borrower	
			
	10	 a	
	
			

	 		

		
b	

B	
Property by	
which loan	
is secured	

	

		
c	

C	
Year of 	
investment	
credit	

D	
E	
F	
G	
H		
Zone of				
Col. E ÷ Col. F	
secured	
Basis of	
Loan	
Total	
(cannot exceed “1”)
property	
property	
amount	
interest	 Multiply result by Col. G

	

	

	

	

	

	a	

	

	

	

	

	

	b	

	c	
	
	
	
	
	
	
	 11	Enter any distributive share of River Edge Redevelopment Zone Interest Subtraction from S corporations.					
		
Attach Schedule(s) K-1-P.						
11	
	 12	Add Column H, Lines 10a through 10c, and Line 11, plus the total from all separate schedules. Enter your
		total River Edge Redevelopment Zone 	Interest Subtraction here and 	on Form IL-1120-ST, Line 26. 	
Schedule 1299-A Front (R-12/25)

12	

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.

*34012252W*

	Interest Subtraction - High Impact Business within a Foreign Trade Zone (or sub-zone)
	 (Form IL-1120-ST financial organizations only)
			

A	
	
				
			
Borrower	

B	
Property by	
which loan	
is secured	

			

	 13	 a	

C	
Year of 	
investment	
credit	

D	
E	
F	
G	
H		
Zone of				
Col. E ÷ Col. F	
secured	
Basis of	
Loan	
Total	
(cannot exceed “1”)
property	
property	
amount	
interest	 Multiply result by Col. G

	

	

	

	

	

	

		
b	

	a	

	

	

	

	

	

	

	b	

		
c	

	

	

	

	

	

	

	c	

	 14	Enter any distributive share of High Impact Business Interest Subtraction from S corporations.
		
Attach Schedule(s) K-1-P.						

14 	

	15	Add Column H, Lines 13a through 13c, and Line 14, plus the total from all separate schedules. Enter your total
		
High Impact Business I	nterest Subtraction here and on Form IL-1120-ST, Line 28.	
15	

Step 2: Worksheet (Complete this step only if you earned this credit during your current tax year.)
Research and Development - Follow the instructions on this worksheet to calculate your Research and Development credit 			

	

amount to enter in Step 3, Column E.	

		
A		B

			

					

	

Base period avg. expenses		 This year’s expenses

16 Enter the amounts from Schedule 1299-I, Line 6 of the Research and
		Development Worksheet.	
				

16
17 Subtract Line 16, Column A, from Line 16, Column B. If negative, enter zero.					
18 Multiply Line 17 by 6.5% (.065). Enter the result here and in Step 3, Column E

		on the line with Credit Code 5340 in Column A. 							

16		
17	
18

Step 3: Figure your credits

See Schedule 1299-A Instructions and Schedule 1299-I for how to list each credit, complete each column, and where to list each owner’s
share on Schedule K-1-P, Partner’s or Shareholder’s Share of Income, Deductions, Credits, and Recapture.
	

		

A	

Credit	
Code	
		

B	

Credit	
Earned	
YYYY-MM	

C	

D	

E	

Unitary 	
Certificate	
Member	
Number	
FEIN		

Credit	
Amount	
Earned	

F 	

Distributive	
Share Credit	
from K-1-P	

G	

Transferred	
Credit	
Amount	

H

Total	
Credits
(E+F+G)

	

19 ______	 ________	 _____________ 	 ________________	 ___________	 ___________	 ___________	 ___________
20 ______	 ________	 _____________ 	 ________________	 ___________	 ___________	 ___________	 ___________
21 ______	 ________	 _____________ 	 ________________	 ___________	 ___________	 ___________	 ___________
22 ______	 ________	 _____________ 	 ________________	 ___________	 ___________	 ___________	 ___________
23 ______	 ________	 _____________ 	 ________________	 ___________	 ___________	 ___________	 ___________
24 ______	 ________	 _____________ 	 ________________	 ___________	 ___________	 ___________	 ___________
25 ______	 ________	 _____________ 	 ________________	 ___________	 ___________	 ___________	 ___________
26 ______	 ________	 _____________ 	 ________________	 ___________	 ___________	 ___________	 ___________
27 ______	 ________	 _____________ 	 ________________	 ___________	 ___________	 ___________	 ___________
28 ______	 ________	 _____________ 	 ________________	 ___________	 ___________	 ___________	 ___________
29 ______	 ________	 _____________ 	 ________________	 ___________	 ___________	 ___________	 ___________
30 ______	 ________	 _____________ 	 ________________	 ___________	 ___________	 ___________	 ___________
NOTE: If you do not provide the necessary information or attempt to claim a credit which does not exist, you may receive
correspondence from the Department, your credit may be disallowed, and the processing of your return may be delayed.
Schedule 1299-A Back (R-12/25)

Printed by the authority of the state of Illinois - electronic only - one copy.

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