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Indiana Corporate Adjusted Gross Income Tax Forms and Schedules
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Extracted from PDF file 2023-indiana-form-it-20.pdf, last modified March 2021Corporate Adjusted Gross Income Tax Forms and Schedules
Form IT-20 State Form 44275 (R21 / 8-23) Indiana Department of Revenue Indiana Corporate Adjusted Gross Income Tax Return Beginning Check box if amended 2023 For Calendar Year Ending December 31, 2023 or Other Tax Year 2023 and ending Check box if amendment is due to a federal audit Name of Corporation Federal Employer Identification Number Number and Street City J. Check all boxes that apply: Initial Return Check box if name changed Principal Business Activity Code State ZIP Code Final Return 2-Digit County Code In Bankruptcy Insurance Co. Foreign Country 2-Character Code Telephone Number Cooperative/IC-DISC REMIC K. L. M. N. Date of incorporation ____________ in the state of _______________ State of commercial domicile ____________________ Year of initial Indiana return _____________________ Location of records if different from above address: ________________________________________________________ O. Check box if the corporation paid any quarterly estimated tax using different federal employer identification numbers P. Check box if you file federal Form 1120 on a consolidated basis R. 80% or more of gross income is derived from making, acquiring, selling, or servicing loans or extensions of credit. S. This is a consolidated return for adjusted gross income tax. T. This return is filed on a combined basis. U. In determining taxable income, I deducted any intangible expenses or directly related intangible interest expenses paid to ≥ 50% owned affiliates. V. I have on file a valid extension of time (federal Form 7004 or an Q. I am filing on a combined basis, and there are material changes in circumstances since the last petition was filed. electronic extension of time) to file my return. W. This entity reports income from disregarded entities. Computation of Adjusted Gross Income Tax 1. Federal taxable income (before federal NOL and special deductions); use a minus sign for negative amounts........ 2. Net qualifying dividends deduction from federal Schedule C, Form 1120................................................................... 3. Subtract line 2 from line 1.......................................................................................................................................... Modifications for Adjusted Gross Income (see instructions) 4. Enter name of addback or deduction ______________________________________________Code No. __ __ __ 5. Enter name of addback or deduction ______________________________________________Code No. __ __ __ 6. Enter name of addback or deduction ______________________________________________Code No. __ __ __ 7. Enter name of addback or deduction ______________________________________________Code No. __ __ __ 8. Enter name of addback or deduction ______________________________________________Code No. __ __ __ 9. Enter name of addback or deduction ______________________________________________Code No. __ __ __ 10. Enter name of addback or deduction ______________________________________________Code No. __ __ __ 11. Subtotal (add/subtract lines 3 through 10; use a minus sign for negative amounts)................................................... Other Adjustments 12. Foreign source dividends (enclose Schedule IT-20FSD; enter as a positive amount)................................................ 13. Subtotal of income with adjustments (subtract line 12 from line 11)........................................................................... 14. Deduct: All source nonbusiness income or (loss) and non-unitary partnership distributions from IT-20 Schedule F, column C, line 10..................................................................................................................................... 15. Taxable business income (subtract line 14 from line 13)............................................................................................. Apportionment of Income for Entity with Multistate Activities 16. Check one of the following apportionment methods used, attach completed schedule, and enter percentage on line 16d 16a Schedule E, from line 9. 16b Schedule E-7, from line 10 (for interstate transportation). 16c Other approved method. 16d. Enter Indiana apportionment percentage, if applicable (round percent to two decimals)............................................ 17. Indiana apportioned business income (multiply line 15 by percent on line 16d)......................................................... If apportionment of income is not applicable, enter the total amount from line 15. Add Allocated and Previously Apportioned Income to Indiana 18. Enter Indiana nonbusiness income or loss and Indiana non-unitary partnership income or loss from IT-20 Schedule F, column D, line 11..................................................................................................................................... 19. Indiana adjusted gross income before net operating loss deduction (add lines 17 and 18)........................................ Deduct from Indiana Adjusted Gross Income 20. Indiana NOL deduction. Enter as positive amount from column B of Schedule IT-20NOL(s) for each loss year........ 21. Taxable adjusted gross income (subtract line 20 from line 19 and carry positive result to line 22 on page 2 of return).. *09923111694* 09923111694 Round All Entries 1 2 3 00 00 00 4 5 6 7 8 9 10 11 00 00 00 00 00 00 00 00 12 13 00 00 14 15 00 00 16d 17 . % 00 18 19 00 00 20 21 00 00 Tax Calculation 22. Enter amount of Indiana adjusted gross Income subject to tax from line 21............................................................... 23. Indiana adjusted gross income tax (multiply line 22 by tax rate; see instructions; cannot be less than zero)............. 24. Sales/use tax due from worksheet.............................................................................................................................. Nonrefundable Tax Liability Credits (enclose supporting documentation) 25. College and University Contribution Credit (CC-40) 25a. 807......................................................... 26. Indiana Research Expense Credit (IT-20REC) 26a. 822......................................................... 27. Enterprise Zone Employment Expense Credit (EZ 2) 27a. 812......................................................... 28. Enterprise Zone Loan Interest Credit (LIC) 28a. 814......................................................... Other Nonrefundable Credits (see instructions) 29. Enter the total of certified credits claimed from Schedule IN-OCC and enclose this schedule with your return......... 30. Enter name of credit___________________________________ Code No. 30a. __ __ __ 31. Enter name of credit ___________________________________ Code No. 31a. __ __ __ 32. Total of nonrefundable tax liability credits (add lines 25b through 31b; sum of credits applied may not exceed line 23; other restrictions may apply)........................................................................................................................... 33. Total taxes due (add lines 23 and 24 and then subtract line 32; cannot be less than zero)........................................ Credit for Estimated Tax, Other Payments, and Refundable Credits 34. Total quarterly estimated income tax paid (itemize quarterly IT-6/EFT payments below)........................................... Qtr1_________ Qtr 2_________ Qtr 3 _________ Qtr 4_________ 35. Enter overpayment credit from tax year ending _____________ ........................................................................... 36. Enter this year’s extension payment........................................................................................................................... 37. Other payments, credits (attach supporting evidence)................................................................................................ 38. EDGE credit (enter amount from line 19 of Schedule IN-EDGE)................................................................................ 39. EDGE-R credit (enter amount from line 19 of Schedule IN-EDGE-R)........................................................................ 40. Total payments and credits (add lines 34 through 39)................................................................................................. Balance of Tax Due or Overpayment 41. Balance of Tax Due: If line 33 is greater than line 40, enter the difference as the net tax balance due 42. Penalty for Underpayment of Income Tax from attached Schedule IT-2220 Check box if using annualization method 43. Interest: If payment is made after the original due date, compute interest. (Contact the Department for current interest rate) 44. Late Penalty: If paying late, enter 10% of line 41; see instructions. If lines 23 and 24 are zero, enter $10 per day filed past due date; see instructions on page 24......................................................................................................... 45. Total Amount Owed: Add lines 41 through 44. Make check payable to Indiana Department of Revenue. Pay in U.S. funds.... 46. Overpayment: If the sum of lines 33, 42, 43, and 44 is less than line 40, enter the difference as an overpayment.... 47. Refund: Enter portion of line 46 to be refunded........................................................................................................... 48. Overpayment Credit: Amount of line 46 less line 47 to be applied to the following year’s estimated tax account....... Certification of Signatures and Authorization Section Under penalties of perjury, I declare I have examined this return, including all accompanying schedules 22 23 24 00 00 00 25b 26b 27b 28b 00 00 00 00 29 30 31 00 00 00 32 33 00 00 34 00 35 36 37 38 39 40 00 00 00 00 00 00 41 42 43 00 00 00 44 45 46 47 48 00 00 00 00 00 Paid Preparer’s Email Address and statements, and to the best of my knowledge and belief it is true, correct, and complete. I authorize the Department to discuss my return with my personal representative (see instructions) Yes No Paid Preparer: Firm’s Name (or yours if self-employed) Personal Representative’s Name (Print or Type) PTIN Email Address Signature of Corporate Officer Date Telephone Number Print or Type Name of Corporate Officer Title Address Signature of Paid Preparer Date City Print or Type Name of Paid Preparer State ZIP Code + 4 If you owe tax, please mail your return to IN Department of Revenue, PO Box 7087, Indianapolis, IN 46207-7087. If you do not owe any tax, mail it to IN Department of Revenue, PO Box 7231, Indianapolis, IN 46207-7231. *09923121694* 09923121694
Form IT-20
More about the Indiana Form IT-20 Corporate Income Tax Tax Return TY 2023
We last updated the Corporate Adjusted Gross Income Tax Forms and Schedules in January 2024, so this is the latest version of Form IT-20, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IT-20 directly from TaxFormFinder. You can print other Indiana tax forms here.
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File Now with TurboTaxRelated Indiana Corporate Income Tax Forms:
TaxFormFinder has an additional 69 Indiana income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Indiana Form IT-20.
| Form Code | Form Name |
|---|---|
| IT-20S Form | S Corporation Income Tax Forms and Schedules |
| IT-20 Booklet | Current Year Corporate Adjusted Gross Income Tax Booklet with Forms and Schedules |
| IT-20S Booklet | Current Year S Corporation Income Tax Booklet with Forms and Schedules |
| Form IT-20NP | Nonprofit Organization Unrelated Business Income Tax Booklet with Forms and Schedules |
| Form IT-20X | Amended Corporation Income Tax Return |
| Form IT-20REC | Indiana Research Expense Tax Credit |
| FIT-20 Form | Current Year Financial Institution Tax Forms and Schedules |
| FIT-20 Booklet | Current Year Financial Institution Tax Forms & Instruction Booklet |
| Form IT-20NOL | Corporate Income Tax - Indiana Net Operating Loss Deduction |
| Schedule IT-20 RECAP | Combined Profit & Loss Statement of Indiana Unitary Group |
View all 70 Indiana Income Tax Forms
Form Sources:
Indiana usually releases forms for the current tax year between January and April. We last updated Indiana Form IT-20 from the Department of Revenue in January 2024.
Form IT-20 is an Indiana Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.
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 Indiana Form IT-20
We have a total of three past-year versions of Form IT-20 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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