Nebraska Amended Nebraska Corporation Income Tax Return

Amended Nebraska Corporation Income Tax Return
Form 1120XN
PRINT FORM RESET FORM

Amended Nebraska Corporation Income Tax Return
for Tax Years After 2022

	

Taxable year beginning                ,       and ending             ,      
PLEASE DO NOT WRITE IN THIS SPACE

Please Print or Type

		 Name Doing Business As (dba)

FORM

1120XN

		 Legal Name
		

Street or Other Mailing Address			

	 Federal ID Number	
Nebraska ID Number	
City	
State	
ZIP Code
				
							
			
		
		

Check if:

Name Change

Address Change

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.
	H	Check the method used to determine Nebraska income
	E	Does this corporation own at least 50% of another
	F	 Is one single Nebraska return being filed for the 		
		 (check only one):
		 corporation; or is it owned at least 50% by another
		 entire group?
Combined report of a controlled group of corporations
		 corporation?
			
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	Community Development Assistance Act credit. . . . . . . . . . .  	 14	
14
15	Form 3800N nonrefundable credit (attach Form 3800N) . . . .  	 15	
15	
	16	 NE employer tax credit for employing convicted felons.
Enter certificate number from Form ETC-A ______________.	 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	Credit for school district property taxes (attach Form PTC) . .  	22	
22			
23 Credit for community college property taxes (attach Form PTC)	 23	
23
	24	PTET credit (attach Schedules K-1N) (see instructions) . . . .  	 24	24
25 Tax deposited with Form 7004N. . . . . . . . . . . . . . . . . . . . . . .  	 25	25
	26	 Estimated income tax payments
		(minus Form 4466N adjustment) . . . . . . . . . . . . . . . . . . . . .  	 26	26
	27	 Tax paid with original return, plus additional payments made after it was filed. . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 27
	28 Total refundable credits and payments (add lines 19 through 27) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 28
	29	 Overpayment allowed on original return, plus additional overpayments allowed after it was filed. . . . . . . . . . . . .  	 29
	30	 Line 28 minus line 29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 30
	31	 Nebraska income tax due (line 18 minus line 30). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 31
	32 Penalty for underpayment of estimated income tax (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 32
33 Total tax and penalty for underpayment of estimated income tax (total of lines 31 and 32) . . . . . . . . . . . . . . . . .  	 33
34	Penalty (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 34
	35	 Interest due. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 35
	36	 Balance Due (total of lines 33 through 35)
Check this box if payment is being made electronically . . . .  	36
	37	 Refund (line 30 minus line 18). Direct deposit: Complete the direct deposit information on the reverse side . . . .  	 37
revenue.nebraska.gov, 800-742-7474 (NE and IA), 402-471-57291

Complete Reverse Side

8-824-2020 Rev. 01-2024

	
	

Nebraska Schedule I	 —	 Apportionment for Multistate Business
Nebraska Schedule II	 —	 Explanation of Changes

	 Name on Form 1120XN	

Nebraska ID Number

		

24 –

FORM 1120XN
Schedules
I and II

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
(B)
Nebraska Amount As
Reported or Adjusted

(A)
Total

Sales or Gross Receipts – Factor

(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 B) and line number. 
• Attach additional sheets or schedules if necessary.   

• Complete the information below to have your refund directly deposited into your bank account.
	
	

Routing Number	

	

(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.)

Type of Account	

1 = Checking	

2 = Savings	

       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	

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 a corporation
federal return or another state 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 that 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 (DOR) 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 filed to claim a refund must be filed within three years after the time the
original return was filed, or within two years after 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 after the due date of the original return in the case of
a change made by another state). Interest on these refunds will not 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 net operating losses 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, or 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 DOR by phone at 800-742-7474 (NE and IA) or 402-471‑5729, or visit
DOR’s website. 	
Signatures. This return must be signed by a corporate officer. If the taxpayer authorizes another person to sign this
return, a power of attorney, Form 33, must be on file with DOR. Include your phone number and email address in
case DOR needs to contact you.
Email. By entering an email address, the taxpayer acknowledges that DOR may contact the taxpayer by email. The
taxpayer accepts any risk to confidentiality associated with this method of communication. DOR will send all confidential
information by secure email or the State of Nebraska’s file share system. If you do not wish to be contacted by email,
write “Opt Out” on the line labeled “email address.”
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 DOR 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
DOR within 30 days after they are executed, DOR may issue a notice of deficiency determination within one year after
discovery of the extension by DOR 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.	 Federal net operating or capital loss carryover or carryback allowed on the federal return;

	

2.	 Interest income from non-Nebraska state and local bonds exempt from federal taxation;

	

3.	 Allocable, nonapportionable losses plus related expenses; and

	

4.	 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;

		Note: Most GILTI and subpart F inclusions are not foreign dividends or deemed foreign dividends. A corporate
taxpayer may only deduct the portion of its GILTI and subpart F income specifically identified in the IRC or
related Treasury Regulations as a foreign dividend or deemed foreign dividend (e.g. hybrid dividends of tiered
corporations). Any amount claimed as a deduction from Federal Schedule C, line 16c must be supported by
Federal Forms 5471, related Schedules, and supporting documentation or schedules identifying the income
as a foreign dividend or deemed foreign dividend. See General Information Letter 24-20-1 for additional
information regarding Nebraska’s treatment of GILTI and Revenue Ruling 24-21-1 for Subpart F income.
	

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	

	

2023	

Nebraska Rate
5.58% of first $100,000, 7.25% 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.

Line 24 PTET Credit. Enter the total pass-through entity tax (PTET) credits received from partnerships in which you
hold an ownership interest. Attach a schedule if you received the credit from more than one partnership listing the
name, Nebraska ID Number, and amount of PTET credit received from each partnership.
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 DOR. Checks written to DOR may be presented for payment electronically.
Reminder: Some taxpayers are required to remit any corporate balance electronically.
Line 29, 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 32, 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 34, Penalty. If the original return was not filed by its due date, or within the period for which an extension was
granted, and line 28 shows a tax due, it will be necessary to compute a penalty for failure to timely file. Multiply the
amount on line 31 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 32. 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 35, 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 using 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. 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 stating 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.