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Nebraska Nebraska S Corporation Income Tax Return with Schedule A - Adjustments to Ordinary Business Income
Extracted from PDF file 2023-nebraska-form-1120-sn.pdf, last modified January 2024Nebraska S Corporation Income Tax Return with Schedule A - Adjustments to Ordinary Business Income
PRINT FORM RESET FORM Nebraska S Corporation Income Tax Return for the calendar year January 1, 2023 through December 31, 2023 or other taxable year beginning , 2023 and ending , Name Doing Business As (dba) FORM 1120-SN 2023 Please Type or Print PLEASE DO NOT WRITE IN THIS SPACE Legal Name Street or Other Mailing Address City State Principal Business Activity in Nebraska Federal ID Number ZIP Code Nebraska ID Number Business Classification Code Does the S corporation have nonresident individual shareholders? Check if: (1) Initial Return Date Business Began in Nebraska YES (Complete Schedule II, unless box 5 is checked) (5) The S corporation is electing or previously (7) elected to be subject to income tax under Neb. Rev. Stat. § 77-2734.01(8). (See instructions and complete Schedule PTET) (2) Final Return (Example, dissolved. See instr.) (4) Name Change (6) Form 7004 Attached (8) (3) Address Change NO Form 3800N, 775N, 312N, or 1107N Attached Distributed Form 3800N Credit 1 Ordinary business income (line 22, Federal Form 1120S). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Nebraska adjustments increasing ordinary business income (line 12, Schedule A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Nebraska adjustments decreasing ordinary business income (line 23, Schedule A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Nebraska adjusted income (line 1 plus line 2 minus line 3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Income reported to Nebraska (enter line 4 above or line 3, Schedule I, if applicable) If less than zero, do not complete columns (E), (F), or (G) on Schedule II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 If line 5 shows a loss, do not complete lines 6 through 12, 14, or 15. 6 Electing pass-through entity tax (PTET) for tax year 2023. (if box 5 is checked, enter line 5 multiplied by .0664). . . . . . . . . . . 6 7 Premium tax credit (see instructions - attach schedule)......................................................... 7 00 8 Employer's credit for expenses incurred for TANF (ADC) recipients (see instr.)..................... 8 00 9 Form 3800N nonrefundable credit (attach Form 3800N)........................................................ 9 00 10 NE employer tax credit for employing convicted felons. Enter certificate number from Form ETC-A _________________________ 10 00 11 Total nonrefundable credits (total of lines 7 through 10)................................................................................................................ 11 12 Nebraska PTET for tax year 2023 after nonrefundable credits. Subtract line 11 from line 6 (if line 11 is more than line 6, enter -0-)....................................................................................................................................................................................... 12 13 PTET for tax years 2018 through 2022 (see instructions) ........................................................................................................... 13 14 Income reported to Nebraska subject to withholding. If box 5 is not checked, enter the Column (F), Schedule II total. . . . . . . 14 15 Nebraska income tax withheld for nonresident individual shareholders. If box 5 is not checked enter the Column (G), Schedule II total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 16 Nebraska tax after nonrefundable credits (line 12 plus lines 13 and 15). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 Form 3800N refundable credit and recapture (see instructions)............................................ 17 00 18 Tax deposited with Form 7004N and 2023 estimated income tax payments........................ 18 00 19 Beginning Farmer credit........................................................................................................ 19 00 20 Nebraska income tax withheld (attach 1099-NEC) (see instructions).................................... 20 00 21 Credit for school district property taxes (attach Form PTC) ................................................. 21 00 22 Credit for community college property taxes (attach Form PTC) ......................................... 22 00 23 PTET credit received from an electing partnership (attach Schedules K-1N)........................ a Name:_____________ b Nebraska ID Number__________ c Amount: $_____________ (Attach a schedule if the credit was received from more than one partnership.). . . . . . . . . . 23 00 24 Total refundable credits and payments (total of lines 17 through 23). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 25 TAX DUE if line 16 minus line 24 is greater than zero. Check this box if your payment is being made electronically. . . . . . 25 26 Overpayment if line 16 minus line 24 is less than zero. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 27 Amount on line 26 you want credited to 2024 estimated income tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 28 Overpayment to be REFUNDED (line 26 minus line 27). Complete lines 29a, 29b, and 29c to receive your refund electronically. Complete line 29d if appropriate (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 29a Routing Number 29b Type of Account 1 = Checking 2 = Savings 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 29c 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.) 29d 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 Email Address ( ) Phone Number Title Preparer’s Signature Date Preparer’s PTIN ( ) Firm’s Name (or yours if self-employed), Address, and ZIP Code EIN Daytime Phone Paper filers must attach a copy of the federal return and supporting schedules to this return. All filers are encouraged to e-file their return including schedules K-1N. Mail this return and payment to: Nebraska Department of Revenue, PO Box 94818, Lincoln, NE 68509-4818. 8-287-2023 S Corporation With Other Income And Deductions Nebraska Schedule A — Adjustments to Ordinary Business Income FORM 1120-SN Schedule A 2023 • Enter amounts for lines 1 through 8 and 10 from Schedule K, Federal Form 1120S. Name on Form 1120-SN Nebraska ID Number Adjustments Increasing Ordinary Business Income Totals 1 Net rental real estate income................................................................................................................ 1 00 2 Other net rental income......................................................................................................................... 2 00 3 Interest income...................................................................................................................................... 3 00 4 Ordinary dividends................................................................................................................................ 4 00 5 Royalties............................................................................................................................................... 5 00 6 Net short-term capital gain.................................................................................................................... 6 00 7 Net long-term capital gain..................................................................................................................... 7 00 8 Net gain under IRC Section 1231 (other than casualty or theft)........................................................... 8 00 9 State and local government bond interest and dividend income (see instructions).............................. 9 10 Other income (list below or attach schedule) a List type:_______________________________________________ b Amount: $___________ Total other income. Enter total of lines 10b....................................................................................... 10 00 00 11 Nebraska and local income, sales, and use taxes deducted on Federal Form 1120-S under section 164 of the IRC................................................................................................................ 11 12 Total adjustments increasing ordinary business income (total of lines 1 through 11). Enter here and on line 2, Form 1120-SN................................................................................................................ 12 Adjustments Decreasing Ordinary Business Income • Enter amounts for lines 14 through 22 from Schedule K, Federal Form 1120S. 00 00 Totals 13 Qualified U.S. government interest deduction (see instructions).......................................................... 13 00 14 Net rental real estate loss...................................................................................................................... 14 00 15 Other net rental loss.............................................................................................................................. 15 00 16 Net short-term capital loss.................................................................................................................... 16 00 17 Net long-term capital loss..................................................................................................................... 17 00 18 Net loss under IRC Section 1231.......................................................................................................... 18 00 19 Other loss.............................................................................................................................................. 19 00 20 Charitable contributions........................................................................................................................ 20 00 21 Section 179 deduction.......................................................................................................................... 21 22 Other deductions (list below or attach schedule) a List type:_______________________________________________ b Amount: $___________ Total other deductions. Enter total of lines 21b ............................................................................... 22 23 Total adjustments decreasing ordinary business income (total of lines 13 through 22). Enter here and on line 3, Form 1120-SN................................................................................................................ 23 00 00 00
Form 1120-SN
More about the Nebraska Form 1120-SN Corporate Income Tax Tax Return TY 2023
We last updated the Nebraska S Corporation Income Tax Return with Schedule A - Adjustments to Ordinary Business Income in February 2024, so this is the latest version of Form 1120-SN, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 1120-SN directly from TaxFormFinder. You can print other Nebraska tax forms here.
Related Nebraska Corporate Income Tax Forms:
TaxFormFinder has an additional 34 Nebraska income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Nebraska Form 1120-SN.
| Form Code | Form Name |
|---|---|
| Form 1120-SN Booklet | S Corporation Income Tax Booklet - Forms & Instructions |
| Form 1120-SN-K-1N | Shareholder's Share of Income, Deductions, Modifications, and Credits |
| Form 1120-SN-Schd-I | S Corporation With Income Derived From Sources Both Within and Without Nebraska Nebraska Schedule I - Apportionment for Multistate Business |
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 1120-SN from the Department of Revenue in February 2024.
Form 1120-SN is a Nebraska Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.
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 1120-SN
We have a total of thirteen past-year versions of Form 1120-SN in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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