×
tax forms found in
Tax Form Code
Tax Form Name

Nebraska Free Printable  for 2020 Nebraska Amended Nebraska Corporation Income Tax Return

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2019-nebraska-form-1120xn.pdf, and you can print it directly from your computer.

Amended Nebraska Corporation Income Tax Return
Form 1120XN

RESET Amended Nebraska Corporation Income Tax Return for Tax Years After 2016 Taxable year beginning                ,       and ending             ,       PLEASE DO NOT WRITE IN THIS SPACE Please Print or Type Name Doing Business As (dba) PRINT FORM 1120XN Legal Name Street or Other Mailing Address City State Zip Code Federal ID Number Nebraska ID Number Name and Address Used on Original Return (if same as above, write “same”) A Is an amended federal return being filed? YES NO If Yes, attach a complete copy of Federal Form 1120X. B Has the original federal return been changed or corrected by the IRS? YES NO If Yes, identify office: C Has a Federal Form 872 or 872-A been filed for the year you are amending? YES NO  If Yes, attach a copy of the Form 872 or 872-A. D Has the corporation been advised that the Form 1120N is being or will be audited? YES NO Corporation Filing Status. Answer questions E through H, as applicable. E Does this corporation own at least 50% of another F Is one single Nebraska return being filed for the H Check the method used to determine Nebraska income corporation; or is it owned at least 50% by another (check only one): entire group? corporation? Combined report of a controlled group of corporations YES NO YES NO Separate report by a member of a controlled group of G Are you filing as a unitary group in any other state? If Yes, attach Federal Form 851 or a schedule of corporations (attach supporting documentation) affiliated corporations and federal ID numbers. YES NO Alternate method (attach Department of Revenue approval) Answer questions F, G, and H. Computation of Tax (A) As Originally Reported or As Adjusted (B) Net Change (Explain on Reverse Side) (C) Correct Amount 1 Federal gross sales or receipts less returns and allowances . 1 1 2 Federal taxable income (FTI). . . . . . . . . . . . . . . . . . . . . . . . . 2 2 3 Adjustments increasing FTI . . . . . . . . . . . . . . . . . . . . . . . . . . 3 3 4 Adjustments decreasing FTI . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 5 Adjusted FTI (enter line 2 plus line 3 minus line 4) . . . . . . . . 5 5 6 Nebraska taxable income before Nebraska carryovers . . . . . 6 6 7 Nebraska capital loss carryover (attach worksheet). . . . . . . . 7 7 8 Nebraska taxable income after Nebraska capital loss carryover (line 6 minus line 7). . . . . . . . . . . . . . . . . . . . . . . . 8 8 9 Nebr. net operating loss carryover (see instr. - attach worksheet). 9 9 10 Net Nebraska taxable income (line 8 minus line 9). . . . . . . . . 10 10 11 Nebraska tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 11 12 Premium tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 12 13 Employer’s credit for expenses incurred for TANF (ADC) recipients 13 13 14 School Readiness Tax Credit for providers . . . . . . . . . . . . . . 14 14 15 Community Development Assistance Act credit. . . . . . . . . . . 15 15 16 Form 3800N nonrefundable credit (attach Form 3800N) . . . . 16 16 17 Total nonrefundable credits (total of lines 12 through 16). . . . 17 17 18 Nebraska tax after nonrefundable credits. Subtract line 17 from line 11 (if less than zero, enter -0-). . . . . . . . . . . . . . . . . 18 18 19 Form 3800N refundable credit (attach Form 3800N) . . . . . . . 19 19 20 Beginning Farmer credit   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 20 21 Nebraska income tax withheld . . . . . . . . . . . . . . . . . . . . . . . . 21 21 22 Tax deposited with Form 7004N. . . . . . . . . . . . . . . . . . . . . . . 22 22 23 Estimated income tax payments (minus any Form 4466N adjustments) . . . . . . . . . . . . . . . . . 23 23 24 Tax paid with original return, plus additional payments made after it was filed. . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 25 Total payments (add lines 19 through 24). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 26 Overpayment allowed on original return, plus additional overpayments allowed after it was filed. . . . . . . . . . . . . 26 27 Line 25 minus line 26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 28 Nebraska income tax due (line 18 minus line 27). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 29 Penalty for underpayment of estimated income tax (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 30 Total tax and penalty for underpayment of estimated income tax (total of lines 28 and 29) . . . . . . . . . . . . . . . . . 30 31 Penalty (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 32 Interest due. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 33 Balance Due (total of lines 30 through 32) Check this box if payment is being made electronically . . . . 33 34 Refund (line 27 minus line 18). Direct deposit: Complete the direct deposit information on the reverse side . . . . 34 Complete Reverse Side revenue.nebraska.gov, 800-742-7474 (NE and IA), 402-471-5729 8-806-2017 Rev. 1-2019 FORM 1120XN Schedules I and II Nebraska Schedule I — Apportionment for Multistate Business Nebraska Schedule II — Explanation of Changes Name on Form 1120XN Nebraska ID Number 24 – Nebraska Schedule I — Apportionment for Multistate Business Nebraska Amount As Reported or Adjusted Nebraska Correct Amount 1 Adjusted FTI (line 5, Form 1120XN) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 . 2 Nebraska apportionment factor (line 5 below) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Taxable income apportioned to Nebraska (line 1 multiplied by line 2) Enter here and on line 6, Form 1120XN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 (A) Total Sales or Gross Receipts – Factor (B) Nebraska Amount As Reported or Adjusted % (C) Nebraska Net Change (explain below) 4 Sales or gross receipts . . . . . . . . . . . 4 5 Nebraska apportionment factor. Divide line 4, column (D), by line 4, column (A), and round to six decimal places. Enter as a percent here and on line 2 of Schedule I above . . . . . . . . . . . . . . . . . . . . . . . . 5 Allocable, Nonapportionable Income or Loss Net Allocable, Nonapportionable Income or Loss As Reported or Adjusted Change in Net Allocable, Nonapportionable Income or Loss (explain below) . % (D) Nebraska Correct Amount . % Net Allocable, Nonapportionable Income or Loss As Amended 6 Allocable, nonapportionable income (attach affidavit – see instr.) 6 7 Allocable, nonapportionable loss (attach affidavit – see instr.) 7 Nebraska Schedule II — Explanation of Changes • Reference net change (Column C) and line number.  • Attach additional sheets or schedules if necessary.  • Complete the information below to have your refund directly deposited into your bank account. Type of Account Routing Number 1 = Checking 2 = Savings (Enter 9 digits, first two digits must be 01 through 12, or 21 through 32; use an actual check or savings account number, not a deposit slip) Account Number (Can be up to 17 characters. Omit hyphens, spaces, and special symbols. Enter from left to right and leave any unused boxes blank.)      Check this box if this refund will go to a bank account outside the United States (see instructions). sign here paid preparer’s use only Under penalties of perjury, I declare that as taxpayer or preparer I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is correct and complete. Signature of Officer Date Title Phone Number Preparer’s Signature Date Firm’s Name (or yours if self-employed), Address, and Zip Code Email Address Preparer’s PTIN EIN Daytime Phone Mail this return and remit payment (electronically, if required) to: Nebraska Department of Revenue, PO Box 94818, Lincoln, NE 68509-4818. For Nebraska Department of Revenue Use Only Previous Penalty: Previous Underpayment Other Previous Interest Other Instructions for Amended Nebraska Corporation Income Tax Return Purpose. An Amended Nebraska Corporation Income Tax Return, Form 1120XN, is filed when the corporation’s federal return or another state’s tax return is amended or corrected, or whenever the information on the previously-filed Nebraska return is not correct. An amended return reporting a change or correction must be mailed separately from the annual income tax return of the corporation. When to File. Any corporation whose reported income or deductions are changed or corrected by the IRS, or through a renegotiation of a contract with the United States, must report the change or correction within 60 days of the determination by filing Form 1120XN. A Form 1120XN must also be filed within 60 days after another state's changes in the corporation’s income or tax credits become final. Any corporation filing an amended return with the IRS which will not result in a credit or refund, or filing an amended return with another state involving a change or correction material to its Nebraska tax liability, must file an amended return with the Nebraska Department of Revenue (Department) within 60 days after filing the amended federal or state return. Any corporation filing an amended return with the IRS which will result in a credit or refund must report the change or correction within 60 days after receiving proof that the IRS accepted the federal return. Except as otherwise noted, a Form 1120XN used to claim a refund must be filed within three years from the time the original return was filed, or within two years from the time the tax was paid, whichever occurs later. Form 1120XN must be filed to claim a refund resulting from a federal or state change within two years and 60 days following the final determination of the change (but not more than ten years from the due date of the original return in the case of a change made by another state). Interest on these refunds will cease to accrue after the 60th day if the amended return was not filed within 60 days after the change. Attach a copy of any federal document relating to the federal change establishing the timeliness of the refund claim. If a hearing is desired, the hearing must be requested at the time this amended return is filed. Net Operating Losses and Capital Losses. Nebraska NOLs and capital losses may only be carried forward for the number of years indicated in this chart. Loss Year Net Operating Loss Capital Loss 1987 through 2013 5 tax years 5 tax years 2014 and after 20 tax years 5 tax years Information on Income, Deductions. If you have any questions regarding the taxability of an item, the allowance of deductions, adjustments, or credits, etc., refer to the instructions for Form 1120N and U.S. Corporation Income Tax Return, Federal Form 1120, for the year you are amending. Taxpayer Assistance. Contact the Department by phone at 800-742-7474 (NE & IA) or 402-471‑5729, or by mail at: Lincoln Omaha Nebraska State Office Building Nebraska State Office Building 301 Centennial Mall South 1313 Farnam Street PO Box 94818 Omaha, NE 68102-1871 Lincoln, NE 68509-4818 Signatures. This return must be signed by a corporate officer. If the taxpayer authorizes another person to sign this return, a power of attorney must be on file with the Department. Include your phone number and email address in case the Department needs to contact you. By including your email address, you are agreeing that the Department may use it to transmit confidential information through a secure website. Any person who is paid for preparing a taxpayer’s return must also sign the return as preparer. The preparer must also enter his or her Preparer Tax ID Number (PTIN) and Federal Employer ID Number (EIN). Specific Instructions Question C. Corporate taxpayers are required to provide the Department with a copy of every executed Federal Form 872, Consent to Extend the Time to Assess Tax; Form 872-A, Special Consent to Extend the Time to Assess Tax; or any other federal form used to extend the time to assess income taxes. If copies of these federal forms are not provided to the Department within 30 days after they are executed, the Department may issue a notice of deficiency determination within one year after discovery of the extension by the Department and may limit the time period for which interest is paid on a refund. Column (A). Enter the amounts shown on your original return or as later adjusted. Column (B). Enter the net changes to the amounts entered in column (A). All entries in column (B) must be explained in detail on Explanation of Changes, Nebraska Schedule II, Form 1120XN, with supporting schedules attached. Column (C). Enter the corrected totals after the increases or decreases shown in column (B). If there are no changes, enter the amount from column (A). Line 1, Federal Gross Sales or Receipts Less Returns and Allowances. Enter the amount of total sales or gross receipts reported on the federal return less returns and allowances. Line 3, Adjustments Increasing FTI. Enter the total Nebraska adjustments increasing federal taxable income which include: 1. 2. 3. 4. Federal net operating or capital loss carryover or carryback allowed on the federal return; Interest income from non-Nebraska state and local bonds exempt from federal taxation; Allocable, nonapportionable losses plus related expenses; and Any other adjustments. Attach a detailed explanation of the basis for each adjustment and any necessary schedules. Line 4, Adjustments Decreasing FTI. Enter the total adjustments decreasing federal taxable income which include: 1. Interest or dividend income from U.S. government obligations included in federal taxable income. Attach a schedule listing the type and amount of income derived from each obligation for which a deduction is claimed. See the Taxability of Interest and Dividend Income From State, Local, and U.S. Government Obligations Information Guide for allowable deductions of income from U.S. government obligations; 2. Foreign dividends, foreign dividend gross-up, or special foreign tax credit deduction; 3. Allocable, nonapportionable income less related expenses. Allocable, nonapportionable income is income which is not part of the unitary business, and has not been claimed as part of the unitary business subject to apportionment by another state with substantially the same law as Nebraska; 4. Nebraska College Savings Program contributions. The maximum annual exempt contribution per return is $10,000; and 5. Any other adjustments. Attach a detailed explanation of the basis for each adjustment and any necessary schedules. Line 6, Nebraska Taxable Income Before Nebraska Carryovers. Enter the amounts from line 5 on line 6 if all income was derived from within Nebraska. Enter the amount from Apportionment for Multistate Business, Nebraska Schedule I, line 3, if income was apportioned. Line 7, Nebraska Capital Loss Carryover. Enter the allowable Nebraska capital loss carryover. For a multistate taxpayer, a Nebraska capital loss consists of the loss on property which was used by the unitary business that did business in Nebraska, multiplied by the Nebraska apportionment factor for the year of the loss. If the corporate taxpayer reported a capital loss on corporate stock or other assets, the income from which was not previously treated as income apportionable to Nebraska, the loss cannot be treated as a Nebraska loss. Capital loss carryovers are only allowable to the extent of capital gains in the year of the deduction. Attach a detailed schedule which shows the computation of the capital loss carryover. A Nebraska capital loss may only be carried forward, and only for a maximum period of five tax years. Line 9, Nebraska Net Operating Loss Carryover. Enter the allowable Nebraska net operating loss carryover. The amount allowable is based on the loss previously reported to Nebraska, and is not based on a percentage of the federal carryover. A net operating loss can only be carried forward. See the Net Operating Losses and Capital Losses section for carryover periods. Line 11, Nebraska Tax. The Nebraska income tax is computed by multiplying the amounts on line 10, column (A), and line 10, column (C), by the following rates. Year 2014 through 2018 Nebraska Rate 5.58% of first $100,000, 7.81% of excess Corporations reporting for a fiscal year or filing a short period tax return must use the Nebraska rate that was in effect on the first day, or the day deemed to be the first day, of the taxable year for which the amended return is being filed. Line 12, Premium Tax Credit. Enter the amount of credit for premium tax paid (not accrued), if any, for the year this amended return is being filed. Attach a schedule listing the date of payment, amount of payment, and the payee. Line 13, Employer’s Credit for Expenses Incurred for TANF (ADC) Recipients. Complete and attach a Form TANF. Enter the total amount of the credit from line 2, Form TANF. Line14, School Readiness Tax Credit for Providers. Attach a copy of the tax credit certification issued by the Nebraska Department of Revenue. Credits and Payments. If you are correcting the amount of a credit or other payment, refer to the instructions for Form 1120N and Federal Form 1120 for the year you are amending. Complete the appropriate forms and schedules. Assistance may be obtained by contacting the Department. Checks written to the Department may be presented for payment electronically. Reminder: Some taxpayers are required to remit any corporate balance electronically. Line 26, Overpayment Allowed on Original Return, Plus Additional Overpayments Allowed After It Was Filed. Enter the “Overpayment” from your original return, or as later corrected or adjusted. The amount of overpayment must be considered in preparing your Form 1120XN, since any amount claimed for refund on your original return will be refunded separately from any additional refund claimed on this amended return. Line 29, Penalty for Underpayment of Estimated Income Tax. Enter the amount of the difference between the underpayment penalty reported on the Corporate Income Tax Return, Form 1120N, and the recalculated underpayment penalty. The underpayment penalty may only be recalculated if the amended return is filed by the due date (including extensions) of the Form 1120N. Attach a copy of the recalculated Form 2220N. Line 31, Penalty. If the original return was not filed by its due date, or within the period for which an extension was granted, and line 26 shows a tax due, it will be necessary to compute a penalty for failure to timely file. Multiply the amount on line 28 by 5% per month or fraction of a month, not to exceed a total of 25%, from the due date as extended, until the original return was filed. Enter the result on line 31. Additional penalties may be imposed for: 1. Failing to pay tax when due; 2. Failing to file an amended return when required; 3. Preparing or filing a fraudulent income tax return; 4. Understating income on an income tax return; or 5. Underpaying estimated tax. Line 32, Interest Due. Enter the total interest due, computed on the additional tax due at the statutory rate from the due date of the original return to the date of payment. Instructions for Schedule I Apportionment for Multistate Business Nebraska Schedule I, Form 1120XN, is used if the operations of the corporation are carried on both within and without Nebraska. If the operations within Nebraska are dependent upon or contribute to the operations outside Nebraska, the entire operation is unitary. An operation is also considered unitary when a business is conducted as a single economic unit by one or more corporations with common ownership, and includes all activities in different lines of business that contribute to the single economic unit. Apportionment refers to the division of business income between states by the use of a formula containing one or more apportionment factors. The entire amount of federal taxable income is presumed to be apportionable income. Line 4, Sales or Gross Receipts, Column (A). Enter the total amounts shown on your original return, or as later adjusted. Column (B). Enter the total Nebraska amounts shown on your original return, or as later adjusted. Allocable, Nonapportionable Income. Allocation means the process of determining the amount of nonapportionable income derived from sources within one or more states. Income or loss allocated to other states may be reported on lines 6 and 7 of Nebraska Schedule I. Income that could be allocable to Nebraska under federal law, must be apportioned under the laws of Nebraska. If any changes are made in the amount of allocable, nonapportionable income or loss, attach a detailed description of the claimed amount, together with evidence that the income is not part of a unitary business. Also, attach an affidavit from a corporate officer that the corporate taxpayer has not claimed the same income to be a part of a unitary business subject to apportionment in another state with substantially the same law as Nebraska. Line 6, Allocable, Nonapportionable Income. Enter the amount of allocable, nonapportionable income, minus all related expenses. Related expenses are all direct and indirect expenses attributable to the activities producing the allocable, nonapportionable income and a portion of the total interest expense of the corporate taxpayer. The amount of interest related to the nonapportionable income is determined by multiplying the total interest expense by the ratio of the investment in the activities generating the nonapportionable income to the total investment. Line 7, Allocable, Nonapportionable Loss. Enter the amount of allocable, nonapportionable loss, plus related expenses. Sales or Gross Receipts Factor. Refer to the instructions provided with the Form 1120N as a guide for completing this section. The sales or gross receipts factor must be rounded to six decimal places, and entered as a percent. Instructions for Schedule II Explanation of Changes Enter the line number from Form 1120XN and Nebraska Schedule I for the items you are changing, and give a reason for each change. Also attach any schedules or forms necessary to support the change. These schedules and forms include, but are not limited to: 1. A Nebraska Corporation Net Operating Loss Worksheet; 2. A Nebraska Incentives Credit Computation, Form 3800N; 3. A copy of the related amended corporation income tax return filed with the IRS or another state; 4. A signed and dated copy of a final determination issued by the IRS, another state, or other competent authority; or 5. Proof that the IRS accepted the changes reported on the related federal amended return claiming a refund.
Extracted from PDF file 2019-nebraska-form-1120xn.pdf, last modified January 2019

More about the Nebraska Form 1120XN Corporate Income Tax TY 2019

We last updated the Amended Nebraska Corporation Income Tax Return in April 2020, so this is the latest version of Form 1120XN, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 1120XN directly from TaxFormFinder. You can print other Nebraska tax forms here.

Other Nebraska Corporate Income Tax Forms:

TaxFormFinder has an additional 34 Nebraska income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form 1120N Booklet Corporation Income Tax Booklet - Forms and Instructions
Form 1120-SN Booklet S Corporation Income Tax Booklet - Forms & Instructions
Form 1120-SN Nebraska S Corporation Income Tax Return with Schedule A - Adjustments to Ordinary Business Income
Form 1120N-ES Nebraska Corporation Estimated Income Tax Payment Voucher
Form CDN Nebraska Community Development Assistance Act Credit Computation

Download all NE tax forms View all 35 Nebraska Income Tax Forms


Form Sources:

Nebraska usually releases forms for the current tax year between January and April. We last updated Nebraska Form 1120XN from the Department of Revenue in April 2020.

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 Nebraska Form 1120XN

We have a total of nine past-year versions of Form 1120XN in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



TaxFormFinder Disclaimer:

While we do our best to keep our list of Nebraska 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/nebraska/form-1120xn