Illinois Tax for a Unitary Business Group with Foreign Insurer Members

Tax for a Unitary Business Group with Foreign Insurer Members
2023 Schedule UB/INS - Tax for a Unitary Business Group with Foreign Insurer Members
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Illinois
Department of Revenue	
			
			

	

Tax for a Unitary Business Group with Foreign Insurer Members			
Month
Year

*33512231W*

Year ending
2023 Schedule UB/INS 			

	
	

_____ _____

For tax years ending on or after December 31, 2023. Attach to your Form IL-1120.

IL Attachment No. 7

	
__________________________________________________________	

___ ___ - ___ ___ ___ ___ ___ ___ ___

Enter your name as shown on the tax return of the member filing the Schedule UB.

Enter your federal employer identification number (FEIN).

You must complete Steps 1 through 7 of your Form IL-1120 and all steps of your Schedule UB, Combined Apportionment
or Unitary Business Groups, before completing this schedule.

Step 1:	 Figure your foreign insurer member’s		 A		B		 C
			
tentative tax 	
__ __-__ __ __ __ __ __ __	
__ __-__ __ __ __ __ __ __	 __ __-__ __ __ __ __ __ __	
		
FEIN		

FEIN	 	

FEIN

1	 Enter your combined business income (loss) from Form IL-1120, Line 27.	 1	____________ 00	 ____________ 00	 ____________ 00
2	 Compute the foreign insurer member’s apportionment factor.
		
a	 Enter the foreign insurer member’s Illinois net sales from Step 4, Line 3
	
	

			 of your Schedule UB.	
		
	 Enter the total in this space: ______________________		2a	____________ 00	 ____________ 00	 ____________ 00
		
b	Enter the total everywhere sales from Form IL-1120, Line 28.		2b	____________ 00	 ____________ 00	 ____________ 00
	 	 c	 Divide Line 2a by Line 2b. Round to six decimal places.
			 This is the foreign insurer member’s apportionment factor. 		2c	___•____________	___•____________	___•____________

3	 Multiply Line 1 by Line 2c. This is the foreign insurer member’s business
		 income (loss) apportioned to Illinois. 	
	

3	____________ 00	 ____________ 00	
	 4	 Enter the foreign insurer member’s nonbusiness income (loss) allocable to IL.	 4	____________ 00	 ____________ 00	
	 5	 Enter the foreign insurer member’s non-unitary partnership business
		 income (loss) apportioned to Illinois. 	
5	____________ 00	 ____________ 00	
	 6	 Add Lines 3 through 5. This is the foreign insurer member’s base income
		 or loss allocable to Illinois. 	
6	____________ 00	 ____________ 00	
	 7	 Enter the unitary group’s base income or loss allocable to Illinois
		 from your Form IL-1120, Line 34.	
7	____________ 00	 ____________ 00	
	 8	 Divide Line 6 by Line 7. Round to six decimal places. This is the foreign insurer

____________ 00
____________ 00
____________ 00
____________ 00
____________ 00

		 member’s share of Illinois base income or loss allocable to Illinois.
		 If negative, enter zero.	

8___•____________	___•____________	___•____________
	 9	 Enter the Illinois net loss deduction from your Form IL-1120, Line 38.	
9	____________ 00	 ____________ 00	 ____________ 00
10		 Multiply Line 9 by Line 8. This is the foreign ins. member’s share of the NLD.	 10	____________ 00	 ____________ 00	 ____________ 00
11		 Subtract Line 10 from Line 6. This is the foreign insurer member’s net
		 income or loss.	
11	____________ 00	 ____________ 00	 ____________ 00
12		 Multiply Line 11 by 2.5% (.025).
		
This is the foreign insurer member’s tentative replacement tax.	
12	____________ 00	 ____________ 00	 ____________ 00
13		 See Instructions. This is the foreign insurer member’s tentative
		 income tax. 	
13	____________ 00	 ____________ 00	 ____________ 00
14		
15		
16		
17		
18		

Enter the recapture of investment credits from your Form IL-1120, Line 46. 	 14	____________ 00	 ____________ 00	 ____________ 00
Multiply Line 14 by Line 8. This is the foreign ins. member’s share of recapture.	 15	____________ 00	 ____________ 00	 ____________ 00
Add Lines 13 and 15. This is the tentative income tax plus recapture.	
Enter the Schedule 1299-D credits from your Form IL-1120, Line 48.	

Multiply Line 17 by Line 8. This is the foreign insurer member’s share of
		 Schedule 1299-D credits. 	

19		 Subtract Line 18 from Line 16 (cannot be less than zero). This is the
		 foreign insurer member’s tentative net income tax.	

20		 Add Lines 12 and 19.
		 This is the foreign insurer member’s tentative total net tax. 	

Schedule UB/INS (R-12/23)

16	____________ 00	 ____________ 00	 ____________ 00
17	____________ 00	 ____________ 00	 ____________ 00
18	____________ 00	 ____________ 00	 ____________ 00
19	____________ 00	 ____________ 00	 ____________ 00
20	____________ 00	 ____________ 00	 ____________ 00

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 3

*33512232W*
Step 2:	 Figure the tax imposed by the foreign insurer member’s state or country
A	B	C
	
of domicile (See instructions.)	
	
	
__ __-__ __ __ __ __ __ __	
__ __-__ __ __ __ __ __ __	 __ __-__ __ __ __ __ __ __
			

21		
22		
23		
24		

	

FEIN	

FEIN	

FEIN

Enter the foreign ins. member’s state or country of domicile. State or country:	 21		
______________	 _______________		 ______________
Enter the base income (loss) from your Form IL-1120, Line 23.	
Enter the foreign insurer member’s net income from Line 11.		

22		____________ 00	 ____________ 00		 ____________ 00
23	 	____________ 00	 ____________ 00		 ____________ 00

Multiply Line 22 by Line 8. This is the foreign insurer member’s share of
		 base income (loss). 		
24		____________ 00	 ____________ 00		 ____________ 00

25		 Figure the pro forma tax imposed by the foreign insurer member’s
		
		
		
		

state or country of domicile, using the income shown on Lines 22
and 23. If the state or country of domicile does not impose an
income tax on insurance companies, check the box and
enter zero on this line.	
	

25 	

_________ 00	

_________ 00		

_________ 00

Step 3:	 Figure your foreign insurer member’s income tax reduction limit
		
26		 Enter the foreign insurer member’s net premiums taxable under
		
Section 409 of the Illinois Insurance Code and included in your
		 Form IL-1120, Step 4, Line 29.			

27		 Multiply Line 26 by 1.75% (.0175). This is the total tax reduction limit.	
28		 Enter the following amounts deducted when you computed this year’s

26	 ____________ 00		
____________ 00					____________ 00
27	 ____________ 00	 	____________ 00				 	____________ 00

		 federal taxable income for the foreign insurer members:
	 	a		 The privilege tax imposed under Section 409 of the
				Illinois Insurance Code. Do not include retaliatory tax. 		
28a	 ____________ 00		
____________ 00				____________ 00
		b	 The fire insurance company tax imposed under Section 12 of the
				Fire Investigation Act. 			28b	 	____________ 00		
____________ 00				____________ 00
		
c		 Any fire department tax imposed under Section 11-10-1 of the
				Illinois Municipal Code. 			 28c	 	____________ 00		
____________ 00			 	____________ 00

29		 Add Lines 28a through 28c.			
30		 Subtract Line 29 from Line 27 (cannot be less than zero).
		 This is the 1.75 percent income tax reduction limit. 		

29	 	____________ 00	 _
	 ___________ 00				____________ 00
30	 	____________ 00		
____________ 00			 _
	 ___________ 00

Step 4:	 Figure your foreign insurer member’s tax
31		 Enter the foreign insurer member’s pro forma tax from Line 25.	31		____________ 00	
32		 Enter the foreign insurer member’s 1.75 percent income tax reduction
		 limit from Line 30.			
32		____________ 00	
33		 Enter the greater of Line 31 or Line 32.		
33		
____________ 00	
34		 Enter the foreign insurer member’s tentative replacement
		 tax from Line 12.			
34	 	____________ 00	
35		 Enter the lesser of Line 33 or Line 34. This is the foreign insurer member’s
		 replacement tax. Enter the total in this space: ______________	
35	 	____________ 00	
36		 If Line 33 is greater than Line 35, subtract Line 35 from Line 33.
		 Otherwise, enter zero. This is the maximum net income tax
		 after applying credits.			

37		 Enter the foreign insurer member’s tentative
		 net income tax from Line 19.			

	____________ 00				____________ 00
	____________ 00		 		
____________ 00
	____________ 00		 		
____________ 00
	____________ 00				____________ 00
	____________ 00		 		
____________ 00

36		____________ 00	 _
	 ___________ 00		 		
____________ 00
37	 	____________ 00	 _
	 ___________ 00		 		
____________ 00

38		 Enter the lesser of Line 36 or Line 37. This is the net income tax after
		 applying credits. Enter the total in this space: ______________	

38		____________ 00	 _
	 ___________ 00			 	____________ 00

		
Enter the amounts from Page 2, Line 38 on Page 3, Line 39. 		

Schedule UB/INS (R-12/23)

Page 2 of 3

*33512233W*
39		 Enter the amounts from Page 2, Line 38.
		
Enter the total from Line 38 in this space: ______________	

39		____________ 00	 _
	 ___________ 00		 	 ____________ 00

40		 Enter the foreign insurer member’s share of Schedule 1299-D credits
		 from Line 18. Enter the total in this space: ______________	

40	 	____________ 00	 _
	 ___________ 00		 	 ____________ 00

41		 Add Lines 39 and 40. This is the foreign insurer member’s income tax
		 before applying credits. Enter the total in this space: _______________	 41		
____________ 00	 	____________ 00		 	____________ 00

Step 5:	 Figure the net income of your other (domestic insurer and non-insurer) 		
					 members
42		 Enter the business income (loss) of the unitary business group from Form IL-1120, Line 27.		42	
	____________ 00	
43		 Figure the apportionment formula.
		
a Enter the total Illinois net sales from Form IL-1120, Line 29.			 43a	 	 ____________ 00	
		
b Enter the foreign insurer members’ total sales from the total line of Line 2a.		 43b		 ____________ 00	
44		 Subtract Line 43b from Line 43a. This is the other members’ total Illinois sales. 		44	 	 ____________ 00
45		 Enter the total sales everywhere from your Form IL-1120, Line 28.							
45		
____________ 00	
46		 Divide Line 44 by Line 45. Round to six decimal places. This is the other members’ apportionment factor. 	
46	___ • ____________
47		 Multiply Line 42 by Line 46. This is the other members’ business income (loss) apportioned to Illinois. 	47		
____________ 00	
48		 Enter the other members’ nonbusiness income (loss) allocable to Illinois.	
						
48		
____________ 00	
49		 Enter the other members’ non-unitary partnership business income (loss) apportioned to Illinois.	
49		
____________ 00	
50		 Add Lines 47 through 49. This is the other members’ base income or loss allocable to Illinois. 	
50		
____________ 00	
51		 Enter the unitary group’s base income or loss allocable to Illinois from your Form IL-1120, Line 34.	
51		
____________ 00	
52		 Divide Line 50 by Line 51. Round to six decimal places. This is the other members’ share of Illinois
		 base income or loss. If negative, enter zero.								
52	___ • ____________
53		 Enter the Illinois net loss deduction from your Form IL-1120, Line 38.		
					
53		
____________ 00	
54		 Multiply Line 53 by Line 52. This is the other members’ share of the Illinois net loss deduction.	
54		
____________ 00	
55		 Subtract Line 54 from Line 50. This is the other members’ net income. 							
55		
____________ 00	

Step 6:	 Figure your unitary group’s total tax
56		
57		
58		
59		
60		

	56	 ____________ 00
Enter the foreign insurer members’ total replacement tax from the total line of Line 35. 	
	57	 ____________ 00	
Add Lines 56 and 57.					
58	
____________ 00	
Enter the replacement tax after credits from your Form IL-1120, Step 6, Line 44.	 		
59	
____________ 00
Multiply Line 55 by 2.5% (.025). This is the other members’ replacement tax. 		

Subtract Line 58 from Line 59. This is your unitary group’s replacement tax reduction.
		 Enter this amount on your Form IL-1120, Step 8, Line 51.				

61		 See Instructions. This is the other members’ income tax. 				
62		
63		
64		
65		
66		
67		
68		

Enter the recapture of investment credits from your Form IL-1120, Line 46.	

69		
70		
71		
72		
73		

60	 ____________ 00
61	 ____________ 00	

	62	
Multiply Line 62 by Line 52. This is the other members’ share of recapture. 		
	63	
Add Lines 61 and 63. This is the total other members’ tentative income tax plus recapture.		
64	
Enter the Schedule 1299-D credits from your Form IL-1120, Line 48.			
65	
Multiply Line 65 by Line 52. This is the other members’ share of Schedule 1299-D credits.		
66	
Subtract Line 66 from Line 64 (cannot be less than zero). This is the other members’ net income tax. 	67	
Enter the foreign insurer members’ total income tax before credits from the total line of Line 41.	68	

____________ 00

Enter the foreign insurer members’ total share of credits from the total line of Line 40.	

	69	
	70	
Add Lines 67 and 70. 		
			
71	
Enter the income tax after credits from your Form IL-1120, Step 7, Line 49.	
		
72	

____________ 00	

Subtract Line 69 from Line 68. This is the foreign insurer members’ total net income tax. 	

____________ 00	

	

Subtract Line 71 from Line 72. This is your unitary group’s income tax reduction.
		 Enter this amount on your Form IL-1120, Step 8, Line 54.				
Schedule UB/INS (R-12/23)

Printed by the authority of the state of Illinois - electronic only - one copy.

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73	 ____________ 00
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