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Indiana Current Year Financial Institution Tax Forms and Schedules
, or request a six-month extension here .Extracted from PDF file 2024-indiana-fit-20-form.pdf, last modified May 2024Current Year Financial Institution Tax Forms and Schedules
Form FIT-20 State Form 44623 (R23 / 8-24) Indiana Department of Revenue for Calendar Year Ending December 31, 2024 or Fiscal Year Beginning Check box if amended. Name of Corporation 2024 and Ending Check box if amendment is due to a federal audit. Number and Street City 2024 Indiana Financial Institution Tax Return Check box if name changed. Principal Business Activity Code State ZIP Code 2-Digit County Code Federal Employer Identification Number Foreign Country 2-Character Code Telephone Number Check box if this is a state chartered credit union or an investment company registered under the Investment Company Act of 1940. (Also see instructions for line 19 and FIT-20 Schedule E-U.) A. B. C. D. Date of incorporation in the state of State of commercial domicile Year of initial Indiana return Location of records if different from above address: E. Accounting method: Cash Accrual F. Did the corporation make estimated tax payments using a different Federal Employer Identification Number? Yes No H. Check all boxes that apply: Initial Return Final Return In Bankruptcy REMIC I. Is this return filed on a combined basis? Yes No If yes, complete Schedule H. J. Is this a separate return by a member of a unitary group? (See instructions on page 5.) Yes No K. Do you have on file a valid extension of time to file your return (federal Form 7004 or an electronic extension of time)? Yes No List any other Federal Employer Identification Numbers on Schedule H. L. Are you a member of a partnership? Yes No G. Is 80% or more of your gross income derived from making, acquiring, If you answer yes, see instruction page 6. selling, or servicing loans or extensions of credit? Yes No If you answer no, do not file this return; file Form IT-20. Schedule A Round all entries Income 1. Federal taxable income (before federal NOL and special deductions); use a minus sign for negative amounts___ 1 2. Qualifying dividend deduction__________________________________________________________________ 2 3. Subtotal (Subtract line 2 from line 1)_____________________________________________________________ 3 Add back – Enter an amount equal to the deduction taken for: 4. Bad debts (IRC Sec. 166) (see instructions)_______________________________________________________ 4 5. Bad debt reserves for banks (IRC Sec. 585)_______________________________________________________ 5 6. Bad debt reserves (IRC Sec. 593)_______________________________________________________________ 6 7. Charitable contributions (IRC Sec. 170)__________________________________________________________ 7 8. All state and local income taxes________________________________________________________________ 8 9. Net capital loss carryovers to the extent used in offsetting capital gains on federal Schedule D (IRC Sec. 1212)___ 9 10. Amount of interest excluded for state and local obligations (IRC Sec. 103) minus the associated expenses (IRC Sec. 265)____________________________________________________ 10 Other modifications to income (see instructions) 11a. Excess business interest deduction, add or subtract net amount_______________________________________ 11a 11b. Net bonus depreciation, add or subtract net amount_________________________________________________ 11b 11c. Excess IRC Section 179 deduction, add or subtract_________________________________________________ 11c If line 11a, 11b, or 11c are negative, use a minus sign. 11d. Qualified patents income deduction (use a minus sign for negative amounts)_____________________________ 11d 12a. Enter name of addback or deduction Code No. 12a 12b. Enter name of addback or deduction Code No. 12b 12c. Enter name of addback or deduction Code No. 12c 12d. Enter name of addback or deduction Code No. 12d 13. Total addbacks (add lines 4 through 12d)_________________________________________________________ 13 14. Subtotal (add line 3 and line 13)________________________________________________________________ 14 Deductions 15. Subtract income that is derived from sources outside the U.S. and included in federal taxable income__________ 15 16. Subtract an amount equal to a debt or portion of a debt that becomes worthless – Net of all recoveries (IRC Sec. 166)_ 16 17. Subtract an amount equal to any bad debt reserves that are included in federal income because of accounting method changes (IRC Sec. 585(c)(3)(a) or Sec. 593)_______________________________________ 17 18. Total Deductions (add lines 15 through 17)________________________________________________________ 18 19. Total Income Prior to Apportionment (subtract line 18 from line 14)_____________________________________ 19 *24100000000* 24100000000 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 20. Total Income Prior to Apportionment (amount from line 19)___________________________________________ 20 21. Apportionment Percentage (line 15 of Schedule E-U)________________________________________________ 21 22. Current Year Apportioned Adjusted Gross Income attributed to Indiana (multiply line 20 by line 21)__________ 22 23. Indiana Net Capital Loss Adjustment from attached worksheet. Line 23 may not exceed amount on line 22_______ 23 24. Subtotal of line 22 minus line 23. Do not enter an amount less than zero_________________________________ 24 25. Indiana Net Operating Loss Deduction from Schedule FIT-20 NOL. Line 25 may not exceed amount on line 24____ 25 26. Total Indiana Adjusted Gross Income subject to tax (subtract line 25 from line 24)_________________________ 26 27. Financial Institution Tax (multiply line 26 by tax rate; see instructions)___________________________________ 27 28. Less: Nonresident Taxpayer Credit (enclose Schedule FIT-NRTC)__________________________________ (816) 28 29. Net Financial Institution Tax Due (subtract line 28 from line 27)________________________________________ 29 30. Sales/Use Tax Due__________________________________________________________________________ 30 31. Subtotal Due (add lines 29 and 30)______________________________________________________________ 31 Tax Liability Credits (enclose schedules) 32. Neighborhood Assistance Tax Credit (NC-20)__________________________________________________ (828) 32 33. Enterprise Zone Employment Expense Credit (EZ 2)____________________________________________ (812) 33 34. Enterprise Zone Loan Interest Tax Credit (LIC)_________________________________________________ (814) 34 35. Enter name of other credit 35a. Code No. 35b 36. Enter name of other credit 36a. Code No. 36b 37. Enter the total of certified credits claimed from Schedule IN-OCC and enclose this schedule with your return____ 37 38. Total Credits (add lines 32 through 37)___________________________________________________________ 38 39. Net Tax Due (subtract line 38 from line 31)________________________________________________________ 39 Credit for Estimated Tax and Other Payments 40. Total quarterly estimated income tax paid (itemize quarterly FT-QP payments below)_______________________ 40 Qtr 1 Qtr 2 Qtr 3 Qtr 4 41. Extension payment and prior year overpayment credit Enter combined total________ 41 42. Other payments (enclose supporting documentation)________________________________________________ 42 43. EDGE credit. Enter the total EDGE credit amount claimed (line 19 on Schedule IN-EDGE)__________________ 43 44. EDGE-R credit. Enter the total EDGE-R credit amount claimed (line 19 on Schedule IN-EDGE-R)_____________ 44 45. Total Payments (add lines 40 through 44)_________________________________________________________ 45 46. Balance of Tax Due (subtract line 45 from line 39. If line 45 exceeds line 39, enter -0-)_____________________ 46 47. Penalty for the Underpayment of Tax from Schedule FIT-2220 (Form page 4)_____________________________ 47 48. If payment is made after the original due date, add interest (see instructions)_____________________________ 48 49. Late penalty: If paying late, enter 10% of line 46. If line 31 is zero, enter $10 per day filed past due date________ 49 50. Total Due (add lines 46 through 49) Payable in U.S. funds to: Indiana Department of Revenue______________ 50 51. Total Overpayment (subtract lines 39, 47, 48, and 49 from line 45)_____________________________________ 51 52. Refund (enter portion of line 51 to be refunded)____________________________________________________ 52 53. Overpayment Credit (amount of line 51 to be applied to next year’s estimated tax account)__________________ 53 Certification of Signatures and Authorization Section Under penalties of perjury, I declare I have examined this return, including all accompanying schedules and statements, and to the best of my knowledge and belief it is true, correct, and complete. I authorize the Department to discuss my return with my personal representative (see instructions). Yes No . 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 Paid Preparer’s Email Address Paid Preparer: Firm’s Name (or yours if self-employed) Personal Representative’s Name (Print or Type) PTIN Email Address Signature of Corporate Officer Print or Type Name of Corporate Officer Signature of Paid Preparer Date Title Print or Type Name of Paid Preparer Telephone Number Address Date City State ZIP Code + 4 Please mail your return to: Indiana Department of Revenue, PO Box 7228, Indianapolis, IN 46207-7228. *24100000000* 24100000000 00 % 00 00 00 00 00 00 00 00 00 00
FIT-20
More about the Indiana FIT-20 Form Corporate Income Tax Tax Return TY 2024
We last updated the Current Year Financial Institution Tax Forms and Schedules in March 2025, so this is the latest version of FIT-20 Form, fully updated for tax year 2024. You can download or print current or past-year PDFs of FIT-20 Form directly from TaxFormFinder. You can print other Indiana tax forms here.
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TaxFormFinder has an additional 69 Indiana income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Indiana FIT-20 Form.
| Form Code | Form Name |
|---|---|
| FIT-20 Booklet | Current Year Financial Institution Tax Forms & Instruction Booklet |
View all 70 Indiana Income Tax Forms
Form Sources:
Indiana usually releases forms for the current tax year between January and April. We last updated Indiana FIT-20 Form from the Department of Revenue in March 2025.
FIT-20 Form is an Indiana 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 Indiana FIT-20 Form
We have a total of fourteen past-year versions of FIT-20 Form in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2011 FIT-20 Form
sp244-2011.indd
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