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Rhode Island CYE RI-1120 Return to be filed by C Corporations
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with TurboTaxExtracted from PDF file 2023-rhode-island-form-1120c.pdf, last modified April 2012CYE RI-1120 Return to be filed by C Corporations
State of Rhode Island Division of Taxation 2023 RI-1120C 23110199990101 Business Corporation Tax Return Federal employer identification number For the taxable year from RI Secretary of State ID number MM/DD/2023 through MM/DD/YYYY Name Address 1 Address 2 City, town or post office State E-mail address NAICS code ZIP code Initial Return Short Year ProForma Address Change 1120F Combined *If a combined return, how many companies are included in this return: Return* Final Return Amended Return A Gross Receipts............................................................................................................................................... A B Depreciable Assets......................................................................................................................................... B C Total Assets..................................................................................................................................................... C Schedule A - Computation of Tax Attach a complete copy of all pages and schedules of the federal return including all K-1’s 1 Federal taxable income (see instructions) ...................................................................................................... 1 2 Total Deductions from page 3, Schedule B, line 1g ........................................................................................ 2 3 Total Additions from page 3, Schedule C, line 1e ........................................................................................... 3 4 Adjusted taxable income. Line 1 less line 2 plus line 3.................................................................................. 4 5 Rhode Island Apportionment Ratio from page 5, Schedule H, line 2. Carry to six (6) decimal places.......... 5 6 Apportioned Rhode Island taxable income. Multiply line 4 times line 5 ......................................................... 6 7 Research and development adjustments (see instructions, attach schedule............................................................................. _ . __________ 7 Check if a Jobs Growth Tax is being reported on line 14b. 8 a Pollution control and hazardous waste adjustment (see 8a instructions).................................................................................... b Capital investment deduction (see instructions)............................. 8b 9 Total adjustments. Add lines 7, 8a and 8b ..................................................................................................... 9 10 a Rhode Island adjusted taxable income. Subtract line 9 from line 6............................................................... 10a Due on or before the 15th day of the 4th month following the close of the taxable year Mail to RI Division of Taxation - One Capitol Hill - Providence, RI 02908 State of Rhode Island Division of Taxation 2023 RI-1120C 23110199990102 Business Corporation Tax Return Name Federal employer identification number 10 b Rhode Island adjusted taxable income from page 1, Schedule A, line 10a.................................................... 10b 11 Rhode Island income tax. Multiply line 10b times 7% (0.07)................................................................................. 11 12 Rhode Island Credits from Schedule B-CR 2023 - Business Credit Schedule, line 19 .................................. 12 13 Tax. Subtract line 12 from line 11, but not less than the minimum tax of $400.00 ......................................... 13 14 a Recapture of credits........................................................................................................................................ 14a b Jobs Growth Tax ............................................................................................................................................. 14b 15 Total tax due. Add lines 13, 14a and 14b ....................................................................................................... 15 16 Payments made on 2023 declaration of estimated tax.................. 16 17 a Other payments............................................................................. 17a b Rhode Island pass-through withholding. Attach 2023 RI K-1(s) (This amount should equal the total Pass-Through withholding 17b amount from page 3, Schedule D, line 1f)...................................... 18 a TOTAL PAYMENTS. Add lines 16, 17a and 17b........................................................................................... 18a b Previously processed overpayments (if filing an amended return)................................................................. 18b c NET PAYMENTS. Subtract line 18b from line 18a......................................................................................... 18c 19 Net tax due. Subtract line 18c from line 15.................................................................................................... 19 20 a Late payment interest.................................................................... 20a b Late payment penalty..................................................................... 20b c Underestimating interest................................................................ 20c d Late filing penalty........................................................................... 20d e Total interest and penalty amounts. Add lines 20a, 20b, 20c and 20d........................................................... 20e 21 Total due with return. Add lines 19 and 20e (Please use Form BUS-V). ....................................................... 21 22 Overpayment. Subtract lines 15 and 20e from line 18c................................................................................. 22 23 Amount of overpayment to be credited to 2024............................................................................................. 23 24 Amount of overpayment to be refunded. Subtract line 23 from line 22.......................................................... 24 Page 2 State of Rhode Island Division of Taxation 2023 RI-1120C 23110199990103 Business Corporation Tax Return Name Federal employer identification number Schedule B - Deductions to Federal Taxable Income 1 a Net operating loss deduction (see instructions - attach schedule) ................................................................. 1a b Special deductions.......................................................................................................................................... 1b c Exempt dividends and interest from page 4, Schedule F, line 10................................................................... 1c d Foreign dividend gross-up (s78) US 1120, Schedule C, line 18.............. ....................................................... 1d e Bonus deprecation and Section 179 expense adjustment.............................................................................. 1e f Modification for Tax Incentives for Employers under RIGL §44-55-4.1. Attach Form RI-107 ........................ 1f g TOTAL DEDUCTIONS. Add lines 1a through 1f. Enter here and on RI-1120C, page 1, Schedule A, line 2.... 1g Schedule C - Additions to Federal Taxable Income 1 a Interest (see instructions) ............................................................................................................................... 1a b Rhode Island corporate taxes (see instructions) ............................................................................................ 1b c Bonus depreciation......................................................................................................................................... 1c d Taxable portion of Paycheck Protection Program loan amount under RIGL 44-11-11(see instructions).............. 1d e TOTAL ADDITIONS. Add lines 1a through 1d. Enter here and on RI-1120C, page 1, Schedule A, line 3......... 1e Schedule D - Pass-through Withholding Name Federal Employer Identification Number 1a b c d e f Total Pass-through withholding (add lines 1a thru 1e) Enter total here and on Page 2, line 17b............... page 3 Pass-through Withholding Amount State of Rhode Island Division of Taxation 2023 RI-1120C 23110199990104 Business Corporation Tax Return Name Federal employer identification number Schedule E - General Information 1 a Location of principal place of business in Rhode Island.......................................... b Location of corporation's books and records........................................................... c List states to which you are liable for income or excise taxes for the taxable year.. d State and date of incorporation e President Treasurer 2 a Salaries and wages paid or incurred in Rhode Island...................................................................................................... 2a b Salaries and wages paid or incurred everywhere............................................................................................................. 2b 3 a Total RI average net book value of assets........................................................................................................................ 3a b Total everywhere average net book value of assets.......................................................................................................... 3b Schedule F - Exempt Dividends and Interest 1 Dividends received from shares of stock of any payer liable for RI taxes as outlined in Chapters 11, 13, & 14 (attach schedule) 1 2 Amount of such dividends included in Special Deductions, Schedule B, line 1b............................................................................ 2 3 Balance of Exempt Dividends. Line 1 less line 2 ........................................................................................................................... 3 Foreign Dividends included on lines 14, 16b, 16c & 20 4 More than 20% owned X 65% ........................................................................................................................... 4 5 Less than 20% owned X 50% ............................................................................................................................ 5 6 100% owned X 100%......................................................................................................................................... 6 7 Interest on obligations of public service corporations liable for Rhode Island Gross Earnings Tax ................................................ 7 8 Interest on certain obligations of the US (attach schedule) ............................................................................................................ 8 9 Interest on obligations of US possessions and other interest exempt under Rhode Island Law (attach schedule)........................ 10 9 Total. Add lines 3 through 9. Enter here and on page 3, Schedule B, line 1c... ............................................................................ 10 Schedule G - Federal Taxable Income (US 1120, page 1, line 28) Enter amount for year that ended: 2023 2022 2021 page 4 2020 2019 State of Rhode Island Division of Taxation 2023 RI-1120C 23110199990105 Business Corporation Tax Return Name Federal employer identification number Schedule H - Apportionment Check if utilizing an alternative allocation apportionment calculation allowed under 44-11-14.1 through 44-11-14.6 { Column A Rhode Island Column B Everywhere Rhode Island Sales........................ 1 a Gross receipts............................ 1a Sales Under 44-11-14(a)(2)(i)(B)... b Dividends........................................................................................... 1b c Interest.............................................................................................. 1c d Rents................................................................................................. 1d e Royalties............................................................................................ 1e f Capital gains...................................................................................... 1f g Ordinary income................................................................................ 1g h Other income..................................................................................... 1h i Income exempt from federal taxation................................................ 1i j Total. Add lines 1a, 1b, 1c, 1d, 1e, 1f, 1g, 1h and 1i......................... 1j 2 Ratio in Rhode Island, line 1j, Column A divided by line 1j, Column B. Calculate to six (6) decimal places. Enter here and on page 1, Schedule A, line 5............................................................................................. 2 _ . __________ Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, it is true, accurate and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Authorized officer signature Print name Date Telephone number Paid preparer signature Paid preparer address Print name Date City, town or post office State ZIP Code May the Division of Taxation contact your preparer? YES page 5 Telephone number PTIN
RI-1120C – Business Corporation Tax Return
More about the Rhode Island Form 1120C Corporate Income Tax TY 2023
We last updated the CYE RI-1120 Return to be filed by C Corporations in February 2024, so this is the latest version of Form 1120C, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 1120C directly from TaxFormFinder. You can print other Rhode Island tax forms here.
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TaxFormFinder has an additional 78 Rhode Island income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form 7004 | Extension Request |
| Form 1120V | Payment Voucher |
| Form 1065V | Partnership Income Tax Payment Voucher |
| Form BUS-EXT | Business Tax Automatic Extension Request - For T-72 and T-74 |
| Form 1065 | Partnership Income Tax Return to be filed by LLCs, LLPs, LPs and Partnerships |
View all 79 Rhode Island Income Tax Forms
Form Sources:
Rhode Island usually releases forms for the current tax year between January and April. We last updated Rhode Island Form 1120C from the Division of Taxation in February 2024.
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 Rhode Island Form 1120C
We have a total of eleven past-year versions of Form 1120C in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form 1120C
RI-1120C – Business Corporation Tax Return
2022 Form 1120C
Microsoft Word - Incentive and Credit Overview for DLT
2021 Form 1120C
2021 RI-1120C_Layout 1
2020 Form 1120C
Microsoft Word - Incentive and Credit Overview for DLT
2019 Form 1120C
Microsoft Word - Incentive and Credit Overview for DLT
2018 Form 1120C
Microsoft Word - Incentive and Credit Overview for DLT
2017 Form 1120C
Microsoft Word - Incentive and Credit Overview for DLT
2016 Form 1120C
2016 RI-1120C NEW_Layout 1
2015 Form 1120C
2015 RI-1120C NEW_Layout 1
2014 Form 1120C
2014 1120C_Corp Forms
2012 Form 1120C
2012 1120C.qxp
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