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Iowa Iowa Corporation Income Tax Return
Extracted from PDF file 2023-iowa-form-ia-1120.pdf, last modified June 2022Iowa Corporation Income Tax Return
2023 IA 1120 Iowa Corporation Income Tax Return tax.iowa.gov Step 1 Tax Period to M M D D Check the box if: Y Y Y Y Amended Return M M D D Y Y Y Y Short Period Doing Business As Name Legal Name Address Federal Employer Identification Number (FEIN) Address 2 City State Is this the first or final return? New Business First Return Final Return Step 2 Filing Status Merged Limited Liability Company Association Bankruptcy Yes Consolidated Iowa/ Consolidated Federal UBIT No Was federal income or tax changed for any prior period? Do you have property in Iowa? Do you have employees in Iowa? Prior period if yes (MM/DD/YY): Other Other Government Cooperative Is this an inactive corporation? 42-001a (07/14/2023) Withdrawn Regular Corporation Type of Return Dissolved Separate Iowa/ Consolidated Federal Separate Iowa/ Separate Federal County No. Entering Iowa Filing Status Corporation Type of Entity NAICS Code Successor Reorganized ZIP 2023 IA 1120, page 2 FEIN Corporation Name Enter Dollars and Cents Step 3 Net Income and Additions to Income 1. Taxable Income from federal return. See instructions.......................................... 2. Total additions from Schedule A........................................................................... 3. Net Income after additions. Add lines 1 and 2.................................................................................................. Step 4 Reductions to Income 4. Total reductions from Schedule A......................................................................... 5. Net income after reductions. Subtract line 4 from line 3....................................... Step 5 Taxable Income 6. Nonbusiness income from Schedule D, line 17.................................................... 7. Income subject to apportionment. Subtract line 6 from line 5.............................. 8. Iowa percentage from Schedule E. See instructions............................................ 9. Income apportioned to Iowa. Multiply line 7 by line 8........................................... 10. Iowa nonbusiness income from Schedule D, line 8.............................................. 11. Income before Net Operating Loss. Add lines 9 and 10....................................... 12. Net Operating Loss carryforward for losses incurred prior to 2023...................... 13. Income subject to tax. Subtract line 12 from line 11. Do not enter an amount below $0........................................................................ Check here if the corporation or any member of the consolidated group is claiming P.L.86-272 protection in Iowa. Step 6 Tax, Credits and Payments 14. Total tax. For tax rates, see page 6. Check box if tax is annualized. 00 2 00 3 00 4 00 5 00 6 00 00 7 00 8 % 9 00 10 00 11 00 12 00 13 00 14 00 15. Credits from Schedule C1, line 5. Do not include estimated tax credit................ 16. Payments from Schedule C2, line 4..................................................................... 17. Total credits and payments. Add lines 15 and 16................................................. 18. Net amount. Subtract line 17 from line 14............................................................ 42-001b (07/14/2023) 1 15 00 16 00 17 00 18 00 2023 IA 1120, page 3 Corporation Name FEIN Step 7 Balance Due 19. Tax due if line 18 is greater than $0..................................................................... 20. Penalty; underpayment of estimated tax. Include IA 2220................................... 21. Filing and payment penalties................................................................................ 22. Interest................................................................................................................. 23. Total amount due. Add lines 19 through 22. Pay electronically or submit payment with voucher.............................................. Step 8 Overpayment 24. Overpayment if line 18 is less than $0.................................................................. 25. Credit to next period’s estimated tax..................................................................... 26. Refund requested. Subtract line 25 from line 24................................................... 26a. Routing number RESERVED FOR FUTURE USE............................................. 2. RESERVED FOR FUTURE USE............................................. 3. Capital Loss Adjustments for filing status 2 or 3....................... 4. Contribution Adjustments for filing status 2 or 3....................... 5. RESERVED FOR FUTURE USE............................................. 6. Interest Expense Adjustments from IA 163.............................. 7. Qualifying COVID-19 Grants.................................................... 8. Expensing/Depreciation Adjustment from IA 4562A................. 9. Tax Exempt Interest and Dividends. See instructions.............. 10. RESERVED FOR FUTURE USE............................................. 11. RESERVED FOR FUTURE USE............................................. 12. RESERVED FOR FUTURE USE............................................. 13. Foreign Dividend Exclusion from Schedule B below................ 14. Federal Securities Interest and Dividends. See instructions.... 15. Nonconformity Adjustments from IA 101.................................. 16. All-source PTE modifications from Iowa K-1s.......................... 42-001c (07/14/2023) 20 00 21 00 22 00 23 00 24 00 25 00 26 00 Schedule A - Additions and Reductions Type of Income 1. 00 26c. Account number 26b. Savings Checking 19 Additions Reductions 1 2 3 00 00 4 00 00 00 00 5 6 00 7 8 00 9 00 00 10 11 12 13 00 14 00 15 00 00 16 00 00 2023 IA 1120, page 4 Corporation Name FEIN Additions Type of Income 17. Pre 2023 federal NOL addback. See Instructions.................... 18. Charitable Contribution Adjustment from Iowa Credit.............. 19. Other. Must include schedule................................................... 20. Totals. Add lines 1-19............................................................... 17 00 18 00 19 00 00 20 00 00 Schedule B - Foreign Dividend Exclusion Type of Dividend Income 1. Less than 20% owned.............................................................. 2. 20% owned............................................................................... 3. Small Business Investment Company...................................... 4. Qualifying Dividends................................................................. Reductions Enter total on page 2, line 2. Enter total on page 2, line 4. Total Dividend Exclusion 00 x50% 2 00 x65% 00 3 00 x100% 00 4 00 x100% 00 1 Other Additons 5. Total. Add lines 1 through 4. Enter on Schedule A, line 13......................................................... Other Reductions 00 5 Amount Schedule C1 - Credits 1. Fuel Credit. Include IA 4136........................................................................................................... 2. Total Nonrefundable Credits. Include IA 148.................................................................................. 3. Total Refundable Credits, excluding Fuel Credit. Include IA 148.................................................... 4. Total Composite and PTET Credits. Include Schedule CC............................................................ 5. Total Credits. Add lines 1-4. Enter on page 2, line 15..................................................................... 00 1 00 2 00 3 00 4 00 5 00 Schedule C2 - Payments Amount 1. Estimated Tax Payments a. Credit from prior period.............................................................................................. b. First quarter................................................................................................................ c. Second quarter........................................................................................................... d. Third quarter............................................................................................................... e. Fourth quarter............................................................................................................. f. Other........................................................................................................................... 2. Voucher Payment........................................................................................................................... 3. Other Payments. Include statement............................................................................................... 4. Total. Add lines 1-3. Enter on page 2, line 16................................................................................. 42-001d (07/14/2023) a 00 b 00 c 00 d 00 e 00 f 00 2 00 3 00 4 00 2023 IA 1120, page 5 Corporation Name FEIN Additional Information 1. 2. Year business was started in Iowa: Last period filed as S corporation (if any): Y Y Y Y to M M D D Y Y Y Y M M D D Y Information from the prior period Iowa return: Y Y FEIN Corporation Name 3. Y Income before net operating loss 00 FEIN Corporation Name 4. If part of a federal consolidated group, please provide information about the corporate parent: Schedule E - Business Activity Ratio (BAR) (see instructions) Column A Iowa Receipts Type of Income 1a. Gross Receipts from sale of tangible personal property.......... 1b. Gross receipts from performance of services........................... 1c. Gross receipts from railroad, trucking, aviation, or other transportation activities............................................................. 1d. Gross receipts from telecommunication services 1e. Gross receipts from radio and television broadcasts............... 1f. Gross receipts from printed and electronic media.................... 1g. Gross receipts from utilities services........................................ 1h. Gross receipts from financial activities..................................... 2. Net Dividends (see instructions)............................................... 3. Exempt Interest from Schedule A, line 9.................................. 4. Accounts Receivable Interest................................................... 5. Other Interest........................................................................... 6. Rent.......................................................................................... 7. Royalties................................................................................... 8. Capital Gain.............................................................................. 9. Ordinary Gain........................................................................... 10. Partnership Gross Receipts. Include schedule........................ 11. Other. Must include schedule................................................... 12. Total. Add lines 1a through 11.................................................. a 00 00 b 00 00 c 00 00 d 00 00 e 00 00 f 00 00 g 00 00 h 00 00 2 00 00 3 00 00 4 00 00 5 00 00 6 00 00 7 00 00 8 00 00 9 00 00 10 00 00 11 00 00 12 00 00 13.Divide column A total by column B total. Enter % on page 2, line 8. Round to six decimal places and enter as a percentage. For example, 0.1234505 becomes 12.3451%. 42-001e (07/14/2023) Column B Receipts Everywhere 13 % 2023 IA 1120, page 6 Corporation Name FEIN A complete copy of your federal return, as filed with the Internal Revenue Service, must be filed with this return. For federal consolidated filers, you must include pages 1-5 of your consolidated federal return, consolidating income statements, federal 851 (for status 3), Iowa Schedule H and any other forms related to the Iowa return. Third Party Disclosure Designee. Do you want to allow an individual to discuss this return with the Department? See instructions. Designee’s Name Mailing address ID Number (optional) City State Designee’s phone number ZIP Email I, the undersigned, declare under penalties of perjury or false certificate, that I have examined this return, and, to the best of my knowledge and belief, it is true, correct, and complete. I declare that I am authorized to act on behalf of the taxpayer, and will only act within my authority Officer’s name (Printed) Title Phone Officer’s signature Sign Here Date M Signature of preparer if other than taxpayer Sign Here M D D Y Y Y Y D D Y Y Y Y Date M M Signature must be signed by hand or via a digital signature with a digital certificate. Stamped or typed signatures are not accepted. Name of preparer or preparer’s employer Preparer’s phone number Address of preparer or preparer’s employer Preparer’s ID City State Tax Rates If income shown on page 2, line 13 is: • $100,000 or less; multiply line 13 by 5.5% (.055). • Over $100,000; multiply line 13 by 8.4% (.084) and subtract $2,900. If annualizing, include a schedule showing computation. 42-001f (07/14/2023) ZIP To obtain schedules and forms: Website: tax.iowa.gov Tax Research Library: itrl.idr.iowa.gov/ Questions: 515-281-3114 or 800-367-3388 Email: [email protected] eFile or mail your return to: Corporation Tax Return Processing Iowa Department of Revenue PO Box 10468 Des Moines, IA 50306-0468
IA 1120 Iowa Corporation Income Tax Return (42001)
More about the Iowa Form IA 1120 Corporate Income Tax Tax Return TY 2023
We last updated the Iowa Corporation Income Tax Return in January 2024, so this is the latest version of Form IA 1120, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IA 1120 directly from TaxFormFinder. You can print other Iowa tax forms here.
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TaxFormFinder has an additional 43 Iowa income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Iowa Form IA 1120.
| Form Code | Form Name |
|---|---|
| Form IA 1120S Shhedule K-1 | Schedule K-1 - Shareholder’s Share of Iowa Income, Deductions, Modifications |
| Form IA 1120S | Income Tax Return for S Corporation |
| Form IA 1120V | Iowa Corporation Income Tax Payment Voucher |
| Form IA 1120ES | Corporate Estimate Tax Payment Voucher |
| Form IA 1120S Instructions | Form IA 1120S/K-1 Instructions |
| Form IA 1120 SchI J | Schedules I and J IA 851 Affiliation / Consolidated Business Activity Ratio 42-022 |
| Form IA 1120SchF | IA Corporation Schedules F and G |
| Form IA 1120SchH | 1120 Schedule H Computation of Federal Tax Refund/Deduction 42-021 |
| Form IA 1120SchL | 1120 Schedule L Iowa Nexus Adjustment |
| Form IA 1120X | Iowa Amended Corporation Income Tax Return 42-024 |
View all 44 Iowa Income Tax Forms
Form Sources:
Iowa usually releases forms for the current tax year between January and April. We last updated Iowa Form IA 1120 from the Department of Revenue in January 2024.
Form IA 1120 is an Iowa 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 Iowa Form IA 1120
We have a total of thirteen past-year versions of Form IA 1120 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form IA 1120
IA 1120 Iowa Corporation Income Tax Return (42001)
2022 Form IA 1120
IA 1120 Iowa Corporation Income Tax Return (42001)
2021 Form IA 1120
IA 1120 corporation income tax return, 42-001
2020 Form IA 1120
IA 1120 corporation income tax return, 42-001
2019 Form IA 1120
IA 1120 corporation income tax return, 42-001
2018 Form IA 1120
IA 1120 corporation income tax return, 42-001
2017 Form IA 1120
IA 1120 corporation income tax return, 42-001
2016 Form IA 1120
IA 1120 corporation income tax return, 42-001
2015 Form IA 1120
2014 IA 1120, Iowa Corporation Income Tax Return
2014 Form IA 1120
2014 IA 1120, Iowa Corporation Income Tax Return
2013 Form IA 1120
Iowa 1120 corporation income tax return
2012 Form IA 1120
Iowa 1120 corporation income tax return
2011 Form IA 1120
Iowa 1120 corporation income tax return
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