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Indiana Current Year Financial Institution Tax Forms and Schedules
Extracted from PDF file 2023-indiana-fit-20-form.pdf, last modified March 2021Current Year Financial Institution Tax Forms and Schedules
Form FIT-20 Indiana Department of Revenue Indiana Financial Institution Tax Return State Form 44623 (R22 / 8-23) 2023 For Calendar Year Ending December 31, 2023 or Fiscal Year Beginning Check box if amended 2023 and ending Check box if amendment is due to a federal audit Check box if name changed Name of Corporation Federal Employer Identification Number Number and Street City Principal Business Activity Code State ZIP Code 2-Digit County Code 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.) L. M. N. O. Date of incorporation ____________ in the state of _______________ State of commercial domicile ____________________ Year of initial Indiana return _____________________ Location of accounting records if different from above address: ________________________________________________________ P. Accounting method: Cash Accrual Q. Did the corporation make estimated tax payments using a different Federal Employer Identification Number? Yes No S. Check all boxes that apply: Initial Return Final Return In Bankruptcy REMIC T. Is this return filed on a combined basis? Yes No If yes, complete Schedule H. U. Is this a separate return by a member of a unitary group? (See instructions on page 5.) Yes No V. 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. R. Is 80% or more of your gross income derived from making, acquiring, selling, or servicing loans or extensions of credit? Yes No If you answer no, do not file this return; file Form IT-20. W. Are you a member of a partnership? Yes If you answer yes, see instruction page 5. Schedule A Income: 1. Federal taxable income (before federal NOL and special deductions); use a minus sign for negative amounts....... 2. Qualifying dividend deduction.................................................................................................................................... 3. Subtotal (Subtract line 2 from line 1).......................................................................................................................... Add back – Enter an amount equal to the deduction taken for: 4. Bad debts (IRC Sec. 166) (see instructions).............................................................................................................. 5. Bad debt reserves for banks (IRC Sec. 585).............................................................................................................. 6. Bad debt reserves (IRC Sec. 593)............................................................................................................................. 7. Charitable contributions (IRC Sec. 170)..................................................................................................................... 8. All state and local income taxes................................................................................................................................. 9. Net capital loss carryovers to the extent used in offsetting capital gains on federal Schedule D (IRC Sec. 1212)...... 10. Amount of interest excluded for state and local obligations (IRC Sec. 103) minus the associated expenses (IRC Sec. 265)........................................................................................................ Other modifications to income (see instructions): 11A. Excess business interest deduction, add or subtract net amount.............................................................................. 11B. Net bonus depreciation, add or subtract net amount................................................................................................. 11C. Excess IRC Section 179 deduction, add or subtract.................................................................................................. If line 11A, 11B, or 11C are negative, use a minus sign. 11D. Qualified patents income deduction (use a minus sign for negative amounts).......................................................... 12A. Enter name of addback or deduction ____________________________________________ Code No. __ __ __ 12B. Enter name of addback or deduction ____________________________________________ Code No. __ __ __ 12C. Enter name of addback or deduction ____________________________________________ Code No. __ __ __ 12D. Enter name of addback or deduction ____________________________________________ Code No. __ __ __ 13. Total addbacks (add lines 4 through 12D).................................................................................................................. 14. Subtotal (add line 3 and line 13)................................................................................................................................. Deductions: 15. Subtract income that is derived from sources outside the U.S. and included in federal taxable income................... 16. Subtract an amount equal to a debt or portion of a debt that becomes worthless - net of all recoveries (IRC Sec. 166)... 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)............................................................................. 18. Total Deductions (add lines 15 through 17)................................................................................................................ 19. Total Income Prior to Apportionment (subtract line 18 from line 14).......................................................................... *24100000000* 24100000000 No Round All Entries 1 2 3 00 00 00 4 5 6 7 8 9 00 00 00 00 00 00 10 00 11A 11B 11C 00 00 00 11D 12A 12B 12C 12D 13 14 00 00 00 00 00 00 00 15 16 00 00 17 18 19 00 00 00 20. Total Income Prior to Apportionment (amount from line 19)....................................................................................... 21. Apportionment Percentage (line 15 of Schedule E-U)............................................................................................... 22. Current Year Apportioned Adjusted Gross Income attributed to Indiana (multiply line 20 by line 21).................... 23. Indiana Net Capital Loss Adjustment from attached worksheet. Line 23 may not exceed amount on line 22............... 24. Subtotal of line 22 minus line 23. Do not enter an amount less than zero................................................................. 25. Indiana Net Operating Loss Deduction from Schedule FIT-20 NOL. Line 25 may not exceed amount on line 24........ 26. Total Indiana Adjusted Gross Income subject to tax (subtract line 25 from line 24)................................................... 27. Financial Institution Tax (multiply line 26 by tax rate; see instructions)...................................................................... 28. Less: Nonresident Taxpayer Credit (enclose Schedule FIT-NRTC)................................................................... (816) 29. Net Financial Institution Tax Due (subtract line 28 from line 27)................................................................................ 30. Sales/Use Tax Due (see instructions)........................................................................................................................ 31. Subtotal Due (add lines 29 and 30)............................................................................................................................ Tax Liability Credits (enclose schedules) 32. Neighborhood Assistance Tax Credit (NC-20).................................................................................................... (828) 33. Enterprise Zone Employment Expense Credit (EZ 2)........................................................................................ (812) 34. Enterprise Zone Loan Interest Tax Credit (LIC).................................................................................................. (814) 35. Enter name of other credit________________________________________ Code No. 35a. __ __ __ 36. Enter name of other credit________________________________________ Code No. 36a. __ __ __ 37. Enter the total of certified credits claimed from Schedule IN-OCC and enclose this schedule with your return........ 38. Total Credits (add lines 32 through 37)...................................................................................................................... 39. Net Tax Due (subtract line 38 from line 31)................................................................................................................ Credit for Estimated Tax and Other Payments 40. Total quarterly estimated income tax paid (itemize quarterly FT-QP payments below).............................................. Qtr1_________ Qtr 2_________ Qtr 3 _________ Qtr 4_________ 41. Extension payment _________ and prior year overpayment credit _________ Enter combined total...................... 42. Other payments (enclose supporting documentation)................................................................................................ 43. EDGE credit. Enter the total EDGE credit amount claimed (line 19 on Schedule IN-EDGE)..................................... 44. EDGE-R credit. Enter the total EDGE-R credit amount claimed (line 19 on Schedule IN-EDGE-R)......................... 45. Total Payments (add lines 40 through 44).................................................................................................................. 46. Balance of Tax Due (subtract line 45 from line 39. If line 45 exceeds line 39, enter -0-).......................................... 47. Penalty for the Underpayment of Tax from Schedule FIT-2220 (Form page 4).......................................................... 48. If payment is made after the original due date, add interest (see instructions).......................................................... 49. Late penalty: If paying late, enter 10% of line 46. If line 31 is zero, enter $10 per day filed past due date................ 50. Total Due (add lines 46 through 49) Payable in U.S. funds to: Indiana Department of Revenue............................. 51. Total Overpayment (subtract lines 39, 47, 48, and 49 from line 45)........................................................................... 52. Refund (enter portion of line 51 to be refunded)........................................................................................................ 53. Overpayment Credit (amount of line 51 to be applied to next year’s estimated tax account).................................... Certification of Signatures and Authorization Section Under penalties of perjury, I declare I have examined this return, including all accompanying schedules 20 21 22 23 24 25 26 27 28 29 30 31 . 32 33 34 35b 36b 37 38 39 00 00 00 00 00 00 00 00 40 00 41 42 43 44 45 46 47 48 49 50 51 52 53 00 00 00 00 00 00 00 00 00 00 00 00 00 Paid Preparer’s Email Address 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 Paid Preparer: Firm’s Name (or yours if self-employed) Personal Representative’s Name (Print or Type) PTIN Personal Representative’s Email Address Signature of Corporate Officer Date Telephone Number Print or Type Name of Corporate Officer Title Address Signature of Paid Preparer Date City Print or Type Name of Paid Preparer State 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 ZIP Code + 4
FIT-20 Form
More about the Indiana FIT-20 Form Corporate Income Tax Tax Return TY 2023
We last updated the Current Year Financial Institution Tax Forms and Schedules in February 2024, so this is the latest version of FIT-20 Form, fully updated for tax year 2023. 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.
Related Indiana Corporate Income Tax Forms:
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 February 2024.
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 thirteen 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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