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Nebraska Nebraska Corporation Income Tax Return, with Schedules A, I, and II
Extracted from PDF file 2023-nebraska-form-1120n.pdf, last modified September 2023Nebraska Corporation Income Tax Return, with Schedules A, I, and II
PRINT FORM RESET FORM FORM 1120N Please Type or Print Nebraska Corporation Income Tax Return for the taxable year January 1, 2023 through December 31, 2023 or other taxable year beginning , 2023 and ending , PLEASE DO NOT WRITE IN THIS SPACE Name Doing Business As (dba) 2023 Legal Name Street or Other Mailing Address City State Business Classification Code Check if: ZIP Code Date Business Began in Nebraska Principal Business Activity in Nebraska Federal ID Number Nebraska ID Number Initial Return Address Change Exempt Organization 7004 Attached Final Return (Example, dissolved. See instr.) Name Change Cooperative Meeting IRC § 6072(d) 3800N, 775N, 312N, or 1107N Attached Corporation Filing Status (Answer questions A through D, as applicable.) A. Does this corporation own at least 50% of another corporation; or is it owned at least 50% by another corporation? (1) YES (2) NO If Yes, attach Federal Form 851 or a schedule of affiliated corporations and federal IDs. Answer questions B, C, and D. B. Is one single Nebraska return being filed for the entire group? (1) YES (2) NO C. Are you filing as a unitary group in any other state? (1) YES (2) NO D. Check the method used to determine Nebraska income (check only one): (1) Combined report of a controlled group of corporations (2) Separate report by a member of a controlled group of corporations (attach supporting documentation) (3) Alternate method (attach Nebraska Department of Revenue approval) 1 Federal gross sales or receipts, less returns and allowances....................................................................... 1 00 2 Federal taxable income (FTI) (see instructions)............................................................................................ 2 00 3 Adjustments increasing FTI (line 10, from attached Nebraska Schedule A)....... 3 00 4 Adjustments decreasing FTI (line 20, from attached Nebraska Schedule A)...... 4 00 5 Adjusted FTI (enter line 2 plus line 3 minus line 4)....................................................................................... 5 00 6 Nebraska taxable income before Nebraska carryovers (see instructions).................................................... 6 00 7 Nebraska capital loss carryover (see instructions – attach worksheet)........................................................ 7 00 8 Nebraska taxable income after Nebraska capital loss carryover (line 6 minus line 7).................................. 8 00 9 Nebraska net operating loss carryover (see instructions – attach worksheet).............................................. 9 00 10 Net Nebraska taxable income (line 8 minus line 9)....................................................................................... 10 00 11 Nebraska tax Check this box if you are an insurance company............................................................. 11 00 12 Premium tax credit (see instructions – attach schedule)..................................... 12 00 13 Employer’s credit for expenses incurred for TANF (ADC) recipients (see instr.) 13 00 14 Community Development Assistance Act credit (attach Form CDN).................. 14 00 15 Form 3800N nonrefundable credit (attach Form 3800N).................................... 15 00 16 NE employer tax credit for employing convicted felons. Enter certificate number from Form ETC-A ______________________ 16 00 17 Total nonrefundable credits (total of lines 12 through 16).............................................................................. 17 00 18 Nebraska tax after nonrefundable credits. Subtract line 17 from line 11 (if line 17 is more than line 11, enter -0-). 18 00 19 Form 3800N refundable credit (attach Form 3800N).......................................... 19 00 20 Tax deposited with Form 7004N......................................................................... 20 00 21 2023 estimated income tax payments (minus any Form 4466N adjustment)..... 21 00 22 Beginning Farmer credit ..................................................................................... 22 00 23 Nebraska income tax withheld (see instructions) ............................................... 23 00 24 Credit for school district property taxes (attach Form PTC)................................ 24 00 25 Credit for community college property taxes (attach Form PTC) ....................... 25 00 26 PTET credit (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.)........ 26 00 27 Total refundable credits and payments (total of lines 19 through 26) ........................................................... 27 00 28 Tax Due (line 18 minus line 27)..................................................................................................................... 28 00 29 Penalty for underpayment of estimated income tax (see instructions)............................................................ 29 00 30 Amount Due (when line 27 is less than the total of lines 18 and 29). If paying electronically, check here . 30 00 31 Overpayment (when line 27 is greater than the total of lines 18 and 29)...................................................... 31 00 32 Amount on line 31 to be credited to 2024 estimated income tax.................................................................. 32 00 33 Overpayment to be refunded (line 31 minus line 32). Direct deposit: Complete lines 34a, 34b, and 34c..... 33 00 34a Routing Number 34b Type of Account 1 = Checking 2 = Savings 34c Account Number (see instructions) 34d Check this box if this refund will go to a bank account outside the United States. 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 ( ) Title Daytime Phone Number Preparer’s Signature Date Print Firm’s Name (or yours if self-employed), Address and Zip Code Email Address Preparer’s PTIN EIN Paper filers must attach a copy of the federal return and supporting schedules, as filed with the IRS, to this return. ( ) Daytime Phone 8-270-2023 FORM 1120N Schedules A and I Nebraska Schedule A — Adjustments to FTI Nebraska Schedule I — Apportionment for Multistate Business Name on Form 1120N 2023 Nebraska ID Number Nebraska Schedule A • You must use Schedule A if you make an adjustment on lines 3 or 4 of Form 1120N. Adjustments Increasing FTI 1 2 3 4 5 6 7 8 State and local government interest and dividend income (see instructions)...................................................................................... 1 Federal net operating loss deduction................................................................................................................................................... 2 Federal capital loss carryover............................................................................................................................................................... 3 Allocable, nonapportionable loss............................................................. 4 Related expenses................................................................................................................................... 5 Interest expense disallowance................................................................................................................ 6 Total allocable, nonapportionable loss (add lines 4-6) (attach affidavit - see instructions)................................................................... 7 Nebraska and local income, sales, and use taxes deducted on federal Form 1065 under section 164 of the IRC. (from Schedules K-1N).......................................................................................................................................................................... 8 9 Other increasing adjustments a List type:______________________________________________________________ b Amount: $________________ Total other increasing adjustments. Enter total of lines 8b.............................................................................................................. 9 10 Total adjustments increasing FTI (total of lines 1, 2, 3, 7, 8, and 9). Enter here and on line 3, Form 1120N........................................ 10 00 00 00 00 00 00 00 Adjustments Decreasing FTI 11 Qualified U.S. government interest deduction. (attach supporting schedule)....................................................................................... 11 12 Total foreign dividends (line 7, Nebraska Schedule II) ......................................................................................................................... 12 13 Special foreign tax credit adjustment (line 12, Nebraska Schedule II)................................................................................................. 13 14 Allocable, nonapportionable income....................................................... 14 00 15 Related expenses................................................................................................................................... 15 00 16 Interest expense disallowance................................................................................................................ 16 00 17 Net allocable, nonapportionable income (line 14 minus lines 15 and 16) (attach affidavit — see instructions)................................... 17 18 Nebraska College Savings Program (see instructions)........................................................................................................................ 18 19 Other decreasing adjustments a List type:______________________________________________________________ b Amount: $________________ Total other decreasing adjustments. Enter total of lines 19b........................................................................................................... 19 20 TOTAL adjustments decreasing FTI (total of lines 11, 12, 13, 17, 18, and 19). Enter here and on line 4, Form 1120N........................ 20 00 00 00 00 00 00 00 Nebraska Schedule I — Apportionment for Multistate Business 1 Adjusted FTI (line 5, Form 1120N)....................................................................................................................................................... 1 2 Nebraska apportionment factor (from line 15 below)........................................................... 2 . 00 % 3 Taxable income apportioned to Nebraska (line 1 multiplied by line 2). Enter here and on line 6, Form 1120N................................... 3 00 Nebraska Apportionment Factor – Sales or Gross Receipts Total 4 Sales or gross receipts minus returns and allowances................................................... 4 00 5 Sales delivered or shipped to purchasers in Nebraska: shipped from outside Nebraska............................................................. 5 6 Sales delivered or shipped to purchasers in Nebraska: shipped from within Nebraska................................................................ 6 7 Sales shipped from Nebraska to the U.S. government................................................................................................................. 7 8 Interest on sales of tangible personal property............................................................... 8 00 8 9 Interest, dividends, and royalties from intangible property................................................ 9 00 9 10 Gross rents..................................................................................................................... 10 00 10 11 Net gain on sales of intangible property......................................................................... 11 00 11 12 Gross receipts from sales of tangible personal and real property not included above........................................................................................... 12 00 12 13 Other income a List type:_____________________ b Total Amount: $______________ c Nebraska Amount: $____________ Enter total of lines 13b in first column. Enter total of lines 13c in second column............................................................................................. 13 00 13 14 Total sales or gross receipts....................................................................................... 14 00 14 15 Nebraska apportionment factor. (Divide line 14, Nebraska column, by line 14, Total column, and round to six . decimal places). Enter as a percent here and on Schedule I, line 2 above...................................................................... 15 Nebraska 00 00 00 00 00 00 00 00 00 00 % Nebraska Schedule II — Foreign Dividend and Special Foreign Tax Credit Deduction Name on Form 1120N Nebraska ID Number FORM 1120N Schedule II 2023 Nebraska Schedule II — Foreign Dividend and Special Foreign Tax Credit Deduction • Attach Schedule C, Federal Form 1120 or Schedule A, Federal Form 1120-L and a schedule separating foreign and domestic dividends. Foreign Dividend Deduction Computation NOTE: The Nebraska Foreign Dividend Deduction calculated on lines 1 through 6 is only for those dividends included in federal taxable income from corporations that are not subject to the Internal Revenue Code (IRC). This includes those corporations whose dividends do not qualify for the dividends received deduction under IRC § 243. 1 Dividends from foreign corporations and certain FSCs subject to the IRC § 245 deduction (total of lines 6 and 7, column (a), Schedule C, Federal Form 1120)........................................................................................... 1 00 2 Special deductions on line 1 amount. Enter the total of lines 6 and 7, column (c), Schedule C, Federal Form 1120...................................................................................................................... 2 00 3 Net foreign dividends subject to the IRC § 245 deduction included in FTI (line 1 minus line 2)................................................... 4 Other dividends from foreign corporations. Enter amount from line 14, Schedule C, Form 1120................................................ 5 Income from controlled foreign corporations under Subpart F treated as a foreign dividend under the IRC............................... 6 Foreign dividend gross-up (IRC § 78). (see instructions)............................................................................................................ 7 Total foreign dividends (add lines 3 through 6). Enter the result here and on line 12, Schedule A, Form 1120N.......................... 3 00 4 00 5 00 6 00 7 00 Special Foreign Tax Credit Deduction Computation Note: This deduction is only to be claimed when a corporation subject to the IRC is taxed by a foreign country, or one of its political subdivisions, at a rate in excess of the maximum federal corporate tax rate (see instructions). 8 FTI from qualifying foreign taxing jurisdictions a Jurisdictions:______________________________________ b Amount: $_____________ Total FTI from qualifying foreign taxing jurisdictions. Enter total of lines 8b........................... 8 00 9 Foreign taxes.............................................................................................................................. 9 00 10 After tax foreign income (line 8 minus line 9).............................................................................. 10 00 11 After tax foreign income not taxed (divide line 10 result by .79; enter result here)...................... 11 00 12 Special foreign tax credit adjustment (subtract line 11 from line 8. If less than 0, enter 0). Enter here and on line 13, Schedule A, Form 1120N.............................................................................................................................................................. 12 00 All filers are encouraged to e-file their return. Mail this return and remit payment (electronically, if required) to: Nebraska Department of Revenue, PO Box 94818, Lincoln, NE 68509-4818. revenue.nebraska.gov, 800-742-7474 (NE and IA), 402-471-5729
Form 1120N
More about the Nebraska Form 1120N Corporate Income Tax Tax Return TY 2023
We last updated the Nebraska Corporation Income Tax Return, with Schedules A, I, and II in February 2024, so this is the latest version of Form 1120N, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 1120N 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 1120N.
| Form Code | Form Name |
|---|---|
| Form 1120N Booklet | Corporation Income Tax Booklet - Forms and Instructions |
| Form 1120N-ES | Nebraska Corporation Estimated Income Tax Payment Voucher |
| Form 1120N-Schedule-III | Subsidiary or Affiliated Corporations and, Schedule IV - Converting Net Income to Combined Net Income |
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 1120N from the Department of Revenue in February 2024.
Form 1120N 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 1120N
We have a total of thirteen past-year versions of Form 1120N 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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