Get the free 2012 form il 1120 st x

The Enterprise Zone Dividend Subtraction and Enterprise Zone Interest Subtraction have been modified. If you are eligible to take these subtractions do not include any dividends or interest received or accrued on or after August 7 2012. See the Specific Instructions on Schedule 1299-A for more information. The New Markets Credit is allowed for qualified investments made between 2008 and 2017 in a community development entity. See Schedule 1299-A instructions for more information. General...

How to fill out 2012 form il 1120

How to fill out 2012 form IL 1120?

1. Gather all necessary information and documents before starting the form filling process. This includes company financial records, income statements, balance sheets, and any relevant tax documents.
2. Start by providing basic information about the company, including the legal name, mailing address, employer identification number (EIN), and the dates of the fiscal year being reported.
3. Proceed to fill out Part I - Income, where you will report the company's total income, deductions, and adjustments. This section requires careful attention to detail and accurate calculations.
4. Move on to Part II - Apportionment, where you will allocate and apportion the company's income based on the Illinois Revised Statutes and regulations. This section may require knowledge of specific tax laws and regulations.
5. Continue with Part III - Non-Income Taxes, where you will report and pay any non-income taxes, such as franchise taxes or replacement tax. This section may not be applicable to all businesses.
6. Proceed to Part IV - Computation of Total Tax, where you will calculate the total tax owed. This includes detailing any credits, payments, or overpayments that may affect the final tax liability.
7. Fill out Part V - Computation of Penalty and Interest, if applicable. This section involves calculating any penalties or interest resulting from late payments or inaccurate reporting.
8. Finally, complete Part VI - Payment of Tax and Signature, where you will provide information about the method of payment and sign the form to certify that the information provided is accurate and true.

Who needs 2012 form IL 1120?

1. Corporations operating in Illinois during the year 2012 are required to file form IL 1120.
2. This form is specifically designed for C corporations and S corporations that are subject to the Illinois Income Tax Act.
3. Individuals or sole proprietors are not required to file form IL 1120. It is solely for corporate entities operating in Illinois during the specified year.

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What is form il 1120 st?

Form IL-1120-ST is the Illinois Small Business Corporation Replacement Tax Return. It is used by small businesses in Illinois to report their income and calculate the replacement tax they owe.

Who is required to file form il 1120 st?

Any small business corporation that is subject to the Illinois replacement tax is required to file Form IL-1120-ST. This includes corporations, partnerships, and limited liability companies (LLCs) that have elected to be treated as small business corporations for tax purposes.

How to fill out form il 1120 st?

To fill out Form IL-1120-ST, you will need to provide information about your business, such as its name, address, and federal employer identification number. You must also report your income, deductions, and credits. The form includes specific sections for different types of income and adjustments. You may need to attach additional schedules or forms depending on the complexity of your tax situation.

What is the purpose of form il 1120 st?

The purpose of Form IL-1120-ST is to calculate and report the replacement tax owed by small business entities in Illinois. This tax is used to replace the previous Personal Property Tax imposed on corporations, and the revenue generated is used to support the state's general funds.

What information must be reported on form il 1120 st?

Form IL-1120-ST requires you to report your business's income, deductions, and credits. This includes information about your business's gross receipts, dividends, interest, royalties, and other types of income. You must also report deductions for expenses, such as cost of goods sold, employee wages, rent, and other business expenses. Additionally, you may need to report any tax credits or other adjustments that apply to your business.