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Illinois Amended Small Business Corporation Replacement Tax Return - Includes Schedule B)
Extracted from PDF file 2023-illinois-form-il-1120-st-x.pdf, last modified July 2023Amended Small Business Corporation Replacement Tax Return - Includes Schedule B)
Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes. Illinois Department of Revenue *32912231W* 2023 IL-1120-ST-X Amended Small Business Corporation Replacement Tax Return For tax years ending on or after December 31, 2023. Indicate what tax year you are amending: Tax year beginning month , ending month If you have a name change, check this box. Name: B Enter your mailing address. C/O: year Enter the amount you are paying. $ O Check this box if you are a member of a unitary business group, and enter the FEIN of the member who prepared the Schedule UB, Combined Apportionment for Unitary Business Group. Attach Schedule UB to this return. Mailing address: City: day N Enter your federal employer identification number (FEIN). Step 1: Identify your small business corporation A Enter your complete legal business name. year If you are filing an amended return for tax years ending before December 31, 2023, you may not use this form. For prior years, see instructions to determine the correct form to use. day State: P Enter your North American Industry Classification ZIP: System (NAICS) Code. See instructions. C Check this box if you are filing this form only to report an increased net loss on Line 49, Column B. D E F G H I Check this box if you attached Form IL-4562. Check this box if you attached Schedule M. Q Enter your Illinois corporate file (charter) number. R Check this box if you are filing Form IL-1120-ST-X before the extended due date and making the Check this box if you attached Schedule 80/20. election to treat all nonbusiness income as Check this box if you attached Schedule 1299-A. business income. Check this box if you attached the Subgroup Schedule. S If you have completed the following, check the box Check the applicable box for the type of change being made. and attach the federal form(s) to this return, if you have not previously done so. NLD State change Federal change Federal Form 8886 Federal Schedule If a federal change, check one: M-3, Part II, Line 10 Partial agreed Finalized T If you are making a discharge of indebtedness Enter the finalization date adjustment on Schedule NLD or Form IL-1120-ST, Attach your federal finalization to this return. Line 48, check this box and attach federal J Throwback adjustment - see instructions. Form 982. U Check this box if your business activity is K Double throwback adjustment - see instructions. protected under Public Law 86-272. L Check this box if you are a 52/53 week filer. V If you are paying Pass-through Entity (PTE) Tax and M Check this box if you elected to file and pay Pass-through Entity you annualized your income on Form IL-2220, (PTE) Tax. check this box and attach Form IL-2220. Explain the changes on this return (Attach a separate sheet if necessary.) Attach your payment and Form IL-1120-ST-X-V here. Step 2: Figure your ordinary income or loss A B As most recently Corrected reported or adjusted amount 00 00 1 Ordinary income or loss or equivalent from U.S. Schedule K. 1 1 00 00 2 Net income or loss from all rental real estate activities. 2 2 00 00 3 Net income or loss from other rental activities 3 3 00 00 4 Portfolio income or loss. 4 4 00 00 5 Net IRC Section 1231 gain or loss. 5 5 6 All other items of income or loss that were not included in the computation of 00 00 income or loss on Page 1 of U.S. Form 1120S. Identify: ___________________ 6 6 00 00 7 Add Lines 1 through 6. This is your ordinary income or loss. 7 7 Step 3: Figure your unmodified base income or loss 00 00 8 Charitable contributions. 8 8 00 00 9 Expense deduction under IRC Section 179. 9 9 00 00 10 Interest on investment indebtedness. 10 10 11 All other items of expense that were not deducted in the computation of ordinary 00 00 income or loss on Page 1 of U.S. Form 1120S. Identify: ___________________ 11 11 00 00 12 Add Lines 8 through 11. 12 12 13 Subtract Line 12 from Line 7. This is your 00 00 total unmodified base income or loss. 13 13 IL-1120-ST-X (R-12/23) 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. Page 1 of 5 *32912232W* Step 4: Figure your income or loss A B As most recently reported or adjusted 14 Enter the amounts from Line 13. Unitary filers, see instructions. 14 15 State, municipal, and other interest income excluded from Line 14. 15 16 Illinois replacement tax and surcharge deducted in arriving at Line 14. 16 17 Illinois Special Depreciation addition. Attach Form IL-4562. 17 18 Related-Party Expenses addition. Attach Schedule 80/20. 18 19 Distributive share of additions. Attach Schedule(s) K-1-P or K-1-T. 19 20 The amount of loss distributable to a shareholder subject to replacement tax. Attach Schedule B. 20 21 Other additions. Attach Schedule M (for businesses). 21 22 Add Lines 14 through 21. This is your total income or loss. 22 Corrected amount 14 15 16 17 18 19 00 00 00 20 21 22 23 Interest income from U.S. Treasury and exempt federal obligations. 23 00 23 00 24 Share of income distributable to a shareholder subject to replacement tax. Attach Schedule B. 00 00 00 24 25 26 27 28 29 30 31 32 33 34 00 35 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 Step 5: Figure your base income or loss 25 26 27 28 29 30 31 32 33 34 24 River Edge Redevelopment Zone Dividend subtraction. Attach Schedule 1299-A. 25 River Edge Redevelopment Zone Interest subtraction. Attach Schedule 1299-A. 26 High Impact Business Dividend subtraction. Attach Schedule 1299-A. 27 High Impact Business Interest subtraction. Attach Schedule 1299-A. 28 Contribution subtraction. Attach Schedule 1299-A. 29 Illinois Special Depreciation subtraction. Attach Form IL-4562. 30 Related-Party Expenses subtraction. Attach Schedule 80/20. 31 Distributive share of subtractions. Attach Schedule(s) K-1-P or K-1-T. 32 Other subtractions. Attach Schedule M (for businesses). 33 Total subtractions. Add Lines 23 through 33. 34 35 Base income or loss. Subtract Line 34 from Line 22. 35 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 A If the amount on Line 35 is derived inside Illinois only, check this box and enter the amount from Step 5, Line 35 on Step 7, Line 47. You may not complete Step 6. (You must leave Step 6, Lines 36 through 46 blank.) If you are a unitary filer, do not check this box. Check the box on Line B and complete Step 6. B If any portion of the amount on Line 35 is derived outside Illinois, or you are a unitary filer, check this box and complete all lines of Step 6. (Do not leave Lines 40 through 42 blank.) See instructions. Step 6: Figure your income allocable to Illinois (Complete only if you checked the box on Line B, above.) 36 Nonbusiness income or loss. Attach Schedule NB. 36 37 Business income or loss included in Line 35 from non-unitary partnerships, 00 36 00 partnerships included on a Schedule UB, S corporations, trusts, or estates. See instructions. 37 00 37 00 38 Add Lines 36 and 37. 00 38 00 00 39 00 00 40 00 00 41 00 42 43 00 44 00 partnerships, partnerships included on a Schedule UB, S corporations, trusts, or estates. See instructions. 45 00 45 00 46 Base income or loss allocable to Illinois. Add Lines 43 through 45. 00 46 00 38 39 Business income or loss. Subtract Line 38 from Line 35. 39 40 Total sales everywhere. This amount cannot be negative. 40 41 Total sales inside Illinois. This amount cannot be negative. 41 42 Apportionment factor. Divide Line 41 by Line 40. Round to six decimal places. 42 43 Business income or loss apportionable to Illinois. Multiply Line 39 by Line 42. 43 44 Nonbusiness income or loss allocable to Illinois. Attach Schedule NB. 44 45 Business income or loss apportionable to Illinois from non-unitary IL-1120-ST-X (R-12/23) 46 Printed by the authority of the state of Illinois - electronic only - one copy. 00 00 Page 2 of 5 *32912233W* Step 7: Figure your net income A As most recently reported or adjusted B Corrected amount 47 Base income or net loss from Step 5, Line 35 or Step 6, Line 46. 47 48 Discharge of indebtedness adjustment. Attach federal Form 982. 48 49 Adjusted base income or net loss. Add Lines 47 and 48. 49 50 Illinois net loss deduction. Attach Schedule NLD. 50 00 00 00 00 47 48 49 50 00 00 00 00 If Line 49 is zero or a negative amount, enter zero. Check this box and attach a detailed statement if you have merged losses. 51 Net income. Subtract Line 50 from Line 49. 51 00 51 00 Step 8: Figure the taxes, surcharges, and pass-through withholding you owe 52 Replacement tax. Multiply Line 51 by 1.5% (.015). 52 53 Recapture of investment credits. Attach Schedule 4255. 53 54 Replacement tax before investment credits. Add Lines 52 and 53. 54 55 Investment credits. Attach Form IL-477. 55 56 Net replacement tax. Subtract Line 55 from Line 54. If negative, enter zero. 56 57 Compassionate Use of Medical Cannabis Program Act surcharge. See instr. 57 58 Sale of assets by gaming licensee surcharge. See instructions. 58 59 Pass-through withholding you owe on behalf of your members. Enter the amount from Schedule B, Section A, Line 5. See instructions. Attach Schedule B. 59 60 Pass-through entity income. See instructions. 60 61 Pass-through entity tax. Multiply Line 60 by 4.95% (.0495). 61 62 Total taxes, surcharges, and pass-through withholding. Add Lines 56, 57, 58, 59, and 61. 00 52 00 53 00 54 00 55 00 56 00 57 00 58 00 00 00 00 00 00 00 00 59 00 60 00 61 00 00 00 62 00 Step 9: Figure your refund or balance due 63 Payments. See instructions. 63a b Total payments made before the date this amended return is filed. 63b c Pass-through withholding reported to you. Attach Schedule(s) K-1-P or K-1-T. 63c d Illinois income tax withholding. Attach Form(s) W-2G. 63d 64 Total payments. Add Lines 63a through 63d. 64 65 Previously paid penalty and interest. See instructions. 65 66 Total amount of overpayment (including any carryforward or refund) before the filing of this return for the year being amended. See instructions. 66 67 Add Lines 65 and 66. 67 68 Net tax paid. Subtract Line 67 from Line 64. 68 69 Overpayment. If Line 68 is greater than Line 62, subtract Line 62 from Line 68. 69 70 Amount of overpayment from Line 69 to be credited forward. See instructions. 70 Check this box and attach a detailed statement if this carryforward is going to a different FEIN. 71 Refund. Subtract Line 70 from Line 69. This is the amount to be refunded. 71 72 Tax due with this amended return. If Line 62 is greater than Line 68, subtract Line 68 from Line 62. 72 You will be sent a bill for any additional penalty and interest. 00 00 00 00 00 00 a Credits from previous overpayments. 00 00 00 00 00 00 00 Enter the amount of your payment on the top of Page 1 in the space provided. Step 10: Sign below - Under penalties of perjury, I state that I have examined this return and, to the best of my knowledge, it is true, correct, and complete. Sign Here ( Signature of authorized officer Paid Preparer Use Only Print/Type paid preparer’s name Date (mm/dd/yyyy) Title Paid preparer’s signature Check if the Department may discuss this return with the paid preparer shown in this step. ) Phone Date (mm/dd/yyyy) Check if self-employed Paid Preparer’s PTIN Firm’s name Firm’s FEIN Firm’s address Firm’s phone ( ) Mail this return to: Illinois Department of Revenue, P.O. Box 19016, Springfield, IL 62794-9016 IL-1120-ST-X (R-12/23) Page 3 of 5 Illinois Department of Revenue 2023 Schedule B Year ending *30812231W* Partners’ or Shareholders’ Information Month Attach to your Form IL-1065 or Form IL-1120-ST. Enter your name as shown on your Form IL-1065 or Form IL-1120-ST. Year IL Attachment No. 1 Enter your federal employer identification number (FEIN). Read this information first • You must read the Schedule B instructions and complete Schedule(s) K-1-P and Schedule(s) K-1-P(3) before completing this schedule. • You must complete Section B of Schedule B and provide all the required information for your partners or shareholders before completing Section A of Schedule B. Failure to follow these instructions may delay the processing of your return or result in you receiving further correspondence from the Illinois Department of Revenue. You may also be required to submit further information to support your filing. Section A: Total members’ information (from Schedule(s) K-1-P and Schedule B, Section B) Before completing this section you must first complete Schedule(s) K-1-P, Schedule(s) K-1-P(3) and Schedule B, Section B. You will use the amounts from those schedules when completing this section. Totals for resident and nonresident partners or shareholders (from Schedule(s) K-1-P and Schedule B, Section B) 1 Enter the total of all nonbusiness income or loss you reported on Schedule(s) K-1-P for your members. 1 See instructions. 2 Enter the total of all income and replacement tax credits you reported on Schedule(s) K-1-P for your members. See instructions. 2 3 3 Add the amounts shown on Schedule B, Section B, Line E for all partners or shareholders on all pages for which you have checked the box indicating the entity is subject to Illinois replacement tax or an ESOP. Enter the total here. See instructions. Totals for nonresident partners or shareholders only (from Schedule B, Section B) 4 Enter the total pass-through withholding you reported on all pages of your Schedule B, Section B, Line J for your a. nonresident individual members. See instructions. b. nonresident estate members. See instructions. c. partnership and S corporation members. See instructions. d. nonresident trust members. See instructions. e. C corporation members. See instructions. 4a 4b 4c 4d 4e 5 Add Line 4a through Line 4e. This is the total pass-through withholding you owe on behalf of all your nonresident partners or shareholders. This amount should match the total amount from Schedule B, Section B, Line J for all nonresident partners or shareholders on all pages. Enter the total here and on Form IL-1065 (Form IL-1065-X), Line 59, or Form IL-1120-ST (Form IL-1120-ST-X), Line 59. See instructions. 6 Enter the total pass-through entity tax credit paid on all pages of Schedule B, Section B, Line K. 5 6 7 Enter the total pass-through entity tax credit received and distributed on all pages of Schedule B, 7 Section B, Line L. Attach all pages of Schedule B, Section B behind this page. Schedule B (R-12/23) 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. Page 4 of 5 Illinois Department of Revenue 2023 Schedule B *30812232W* Enter your name as shown on your Form IL-1065 or Form IL-1120-ST. Enter your federal employer identification number (FEIN). Section B: Members’ information (See instructions before completing.) Member 1 Member 2 A Name C/O Address 1 Address 2 City State, ZIP B Partner or Shareholder Member 3 C SSN/FEIN D Subject to Illinois replacement tax or an ESOP E Member’s distributable amount of base income or loss F Excluded from pass-through withholding G Share of Illinois income subject to pass-through withholding withholding before credits H Pass-through I Distributable share of credits paid to members J Pass-through withholding amount K PTE tax credit L PTE tax credit received and distributed to members Schedule B (R-12/23) If you have more members than space provided, attach additional copies of this page as necessary. Printed by the authority of the state of Illinois - electronic only - one copy. Reset Print Page 5 of 5
2023 IL-1120-ST-X, Amended Small Business Corporation Replacement Tax Return
More about the Illinois Form IL-1120-ST-X Corporate Income Tax Amended Return TY 2023
We last updated the Amended Small Business Corporation Replacement Tax Return - Includes Schedule B) in January 2024, so this is the latest version of Form IL-1120-ST-X, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IL-1120-ST-X directly from TaxFormFinder. You can print other Illinois tax forms here.
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File Now with TurboTaxRelated Illinois Corporate Income Tax Forms:
TaxFormFinder has an additional 75 Illinois income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Illinois Form IL-1120-ST-X.
| Form Code | Form Name |
|---|---|
| Form IL-1120-ST | Small Business Corporation Replacement Tax Return (Includes Schedule B) |
| Form IL-1120 | Corporation Income and Replacement Tax Return |
| Form IL-1120-V | Payment Voucher for Corporation Income and Replacement Tax / Estimated Tax |
| Form IL-1120-ST-V | Payment Voucher for Small Business Corporation Replacement Tax |
| Form IL-1120-X | Amended Corporation Income and Replacement Tax Return |
| Form IL-1120-ST-X-V | Payment Voucher for Amended Small Business Corporation Replacement Tax |
| Form IL-1120-X-V | Payment Voucher for Amended Corporation Income and Replacement Tax |
| Form IL-1120-ES | Estimated Income and Replacement Tax Payments for Corporations |
View all 76 Illinois Income Tax Forms
Form Sources:
Illinois usually releases forms for the current tax year between January and April. We last updated Illinois Form IL-1120-ST-X from the Department of Revenue in January 2024.
Form IL-1120-ST-X is an Illinois Corporate Income Tax form. An amended tax return is used to correct errors or omissions in a previously-filed tax return. While taxpayers will not generally be punished simply for correcting an error in a previous return, errors that resulted in an underpayment of owed tax can sometimes result in penalties or interest owed.
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 Illinois Form IL-1120-ST-X
We have a total of thirteen past-year versions of Form IL-1120-ST-X in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form IL-1120-ST-X
2023 IL-1120-ST-X, Amended Small Business Corporation Replacement Tax Return
2022 Form IL-1120-ST-X
2022 IL-1120-ST-X, Amended Small Business Corporation Replacement Tax Return
2021 Form IL-1120-ST-X
2021 IL-1120-ST-X, Amended Small Business Corporation Replacement Tax Return
2020 Form IL-1120-ST-X
2020 IL-1120-ST-X Instructions
2019 Form IL-1120-ST-X
2019 IL-1120-ST-X Instructions
2018 Form IL-1120-ST-X
2017 IL-1120-ST-X, Amended Small Business Corporation Replacement Tax Return
2017 Form IL-1120-ST-X
2017 IL-1120-ST-X, Amended Small Business Corporation Replacement Tax Return
2016 Form IL-1120-ST-X
2016 IL-1120-ST-X, Amended Small Business Corporation Replacement Tax Return
2015 Form IL-1120-ST-X
IL-1120-ST-X
2014 Form IL-1120-ST-X
2014, IL-1120-ST-X, Amended Small Business Corporation Replacement Tax Return
2013 Form IL-1120-ST-X
2013 IL-1120-ST-X
2011 Form IL-1120-ST-X
IL 1120 X
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