Fillable Form IA 1120 2013 Iowa Corporation Income Tax Return 42-001

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Form IA 1120 2013 Iowa Corporation Income Tax Return 42-001

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2013 IA 1120
Iowa Corporation Income Tax Return
OFFICE USE ONLY
A complete copy of your federal return, as filed with the Internal Revenue Service, MUST be filed with this return.
For filing status 2 or 3, you must attach pages 1-5 of your consolidated federal return, consolidating income statements,
Iowa Schedule H, and any other forms related to the Iowa return.
www.iowa.gov/tax
Iowa Department of Revenue
From____/____/____to____/____/____
Check the box if: Name/Address Change
Short Period
Corporation Name and Address
FEIN: Business Code:
County No.:
Is this a first or final return? If yes, check the appropriate box.
First Return
New Business Successor Entering Iowa
Final Return Reorganized Merged Dissolved
Withdrawn Bankruptcy Other__________
Name of contact person: _____________________________
Phone No.: (_____) _______ - ___________
Postmark
STEP 1
42-001a (09/11/13)
1. Net Income From Federal Return before Federal Net Operating Loss. ............................................................................ 1 ___________________
2. 50% of Federal Tax Refund. ............... Accrual Cash ........................................................................................ 2 ___________________
3. Other Additions from Schedule A. ....................................................................................................................................... 3 ___________________
4. Net Income After Additions. Add lines 1 through 3. ............................................................................................................ 4 ___________________
5. 50% of Federal Tax Paid or Accrued. ..... Accrual Cash ............................... 5 ___________________
6. Other Reductions from Schedule A. ................................................................................ 6 ___________________
7. Total Reductions. Add lines 5 and 6. .................................................................................................................................. 7 ___________________
8. Net Income After Reductions. Subtrac t line 7 from line 4. ................................................................................................ 8 ___________________
9. Nonbusiness Income from Schedule D, line 17. ................................................................................................................. 9 ___________________
10. Income Subject To Apportionment. Subtract line 9 from line 8. ......................................................................................... 10 __________________
11. Iowa Percentage from Schedule E. (See instructions). ...................................................................................................... 11 ________________ %
12. Income Apportioned to Iowa. Multiply line 10 by line 11. ................................................................................................... 12 __________________
13. Iowa Nonbusiness Income from Schedule D, line 8. .......................................................................................................... 13 __________________
14. Income Before Net Operating Loss. Add lines 12 and 13. ................................................................................................. 14 __________________
15. Net Operating Loss Carryforward from Schedule F. ........................................................................................................... 15 __________________
16. Income Subject to Tax. Subtract line 15 from line 14. Do NOT enter an amount below $0. .............................................. 16 __________________
17. Computed Tax (For tax rates, see bottom of page 3.) Check box if tax is annualized.
................................................ 17 __________________
18. Alternative Minimum Tax from page 4, Schedule IA 4626. Check if claiming small business exemption. .................. 18 __________________
19. Total Tax. Add lines 17 and 18. .......................................................................................................................................... 19 __________________
20. Credits from Schedule C1, line 4. Do not include estimated tax credit. ......................... 20 __________________
21. Payments from Schedule C2, line 4. ............................................................................... 21 __________________
22. Total Credits and Payments. Add lines 20 and 21. ............................................................................................................ 22 __________________
23. Net Amount. Subtract line 22 from line 19. ......................................................................................................................... 23 __________________
24. Tax Due if line 23 is greater than $0. .................................................................................................................................. 24 __________________
25. Penalty (Underpayment of Estimated Tax) Attach IA 2220. ................................................................................................ 25 __________________
26. Penalty (Failure to Pay or Failure to File). .......................................................................................................................... 26 __________________
27. Interest. ................................................................................................................................................................................ 27 __________________
28. Total Amount Due. Add lines 24 through 27. Make check payable to “Treasurer, State of Iowa” .............................. 28 __________________
29. Overpayment if line 23 is less than $0. ............................................................................................................................... 29 __________________
30. Credit to Next Period’s Estimated Tax. ............................................................................................................................... 30 __________________
31. Refund Requested. Subtract line 30 from line 29. ........................................................................................................... 31 __________________
Filing Status: 1 Separate Iowa/Separate Federal 2 Separate Iowa/Consolidated Federal 3 Consolidated Iowa/Consolidated Federal
Type of Return: 1 Regular Corporation 2 Cooperative 3 UBIT
Is this an inactive corporation? ................................................
Yes No
Was federal income or tax changed for any prior period(s)?..
Yes No Period(s)_____________________________
Do you have property in Iowa? ................................................ Yes No
STEP 2 Filing Status
USE WHOLE DOLLARS
STEP 3
Net Income
& Additions
to Income
STEP 5
Taxable
Income
STEP 6
Tax,
Credits,
and
Payments
STEP 7
Balance
Due
STEP 8
Over-
payment
STEP 4
Reductions
to Income
Reset Form
Print Form
Schedule A - Other Additions and Reductions Enter Whole Dollars
Type of Income Other Additions Other Reductions
1 Percentage Depletion
2 TIP Credit from federal form 8846
3 Capital Loss Adjustments for filing status 2 or 3
4 Contribution Adjustments for filing status 2 or 3
5 Safe Harbor Lease — Rent
6 Safe Harbor Lease — Interest
7 Safe Harbor Lease — Depreciation
8 Depreciation Adjustment from IA 4562A
9 Tax Exempt Interest and Dividends. See instructions.
10 Iowa Tax Expense/Refund
11 Work Opportunity Credit Wage Reduction from federal form 5884
12 Alcohol & Cellulosic Biofuel Credit from federal form 6478
13 Foreign Dividend Exclusion from Schedule B
14 Federal Securities Interest and Dividends. See instructions.
15 Other. Must attach schedule. 
16 TOTALS
Enter total on line 3 of page 1. Enter total on line 6 of page 1.
Schedule B - Foreign Dividend Exclusion Enter Whole Dollars
Type of Dividend Income Total Dividend Exclusion
1 Less than 20% Owned x 70%
2 20% to 80% Owned x 80%
3 More than 80% Owned x 100%
4 Dividend Gross Up (federal section 78) x 100%
5 TOTAL. Add lines 1 through 4. Enter Total on line 13 of Schedule A.
IA 1120 Page 2 2013
Under penalties of perjury, I declare that I have examined this return, any attached schedules/statements, and, to the best of my knowledge,
believe it to be true, correct and complete. If prepared by a person other than the taxpayer, the declaration is based on all information of which
there is any knowledge.
Officer’s Signature: _________________________________ Title: ______________________ Date: __________________
Signature of Preparer Other than Taxpayer: __________________________________________ Date: _____________________
Name and Address of Preparer or Preparer’s Employer:
________________________________________________ Preparer’s Telephone No.: _______________________________
________________________________________________ Preparer’s ID No.: ______________________________________
______________________________________________
_________________________________________________________
42-001b (09/11/13)
Schedule C1 - Credits Whole Dollars
Description Amount
1 Motor Fuel Credit. Include IA 4136.
2 Total Nonrefundable Credits. Include IA 148.
3 Total Refundable Credits, excluding Motor Fuel Credit.
Include IA 148.
4 Total Credits. Add lines 1-3. Enter on page 1, line 20.
Additional Information
1. Year business was started in Iowa: __________ 2. Last period filed as S corporation (if any): _____________
3. Information from the prior period Iowa return:
Corporation Name: _______________________________________________________________________________________
Net Income/Loss: ___________________________
FEIN: ____________________________________________
4. If part of a federal consolidated group, please provide information about the corporate parent:
Corporation Name: __________________________________ FEIN: ____________________________________________
Schedule C2 - Payments Whole Dollars
Description Amount
1 Estimated Tax Payments
a Credit from prior period overpayment
b First, Date Paid:
c Second, Date Paid:
d Third, Date Paid:
e Fourth, Date Paid:
f Other, Date Paid:
2 Voucher Payment
3 Other Payments. Attach statement.
4 Total. Add lines 1-3. Enter on page 1, line 21.
Corporation Name: _______________________________________________ FEIN: _________________________________________
To obtain schedules and forms:
Website: www.iowa.gov/tax/
Tax Research Library: http://itrl.idr.iowa.gov/
To talk to a tax specialist:
1-800-367-3388 (Iowa, Omaha, Rock Island, Moline)
515-281-3114 (Des Moines, out of state)
E-mail: idr@iowa.gov
MAIL YOUR RETURN TO:
Corporation Tax Return Processing
Iowa Department of Revenue
PO Box 10468
Des Moines IA 50306-0468
TAX RATES:
If income shown on line 16 (of page 1) is:
Under $25,000 .............. then multiply line 16 by 6%
$25,000 to $100,000 ..... then multiply line 16 by 8% and
subtract $500
$100,000 to $250,000 ... then multiply line 16 by 10% and
subtract $2,500
Over $250,000 .............. then multiply line 16 by 12% and
subtract $7,500
If annualizing, attach a schedule showing computation.
Schedule D - Nonbusiness Income. See instructions. Enter Whole Dollars.
Please attach all documentation detailing why the income should be allocated as Nonbusiness Income.
Type of Income (A) Gross Income (B) Related Expenses (C) Subtotal (D) 50% of Applicable (E) Net Income
Federal Income Tax
Allocated Within Iowa
1 Net Dividend.
See instructions.
2 Exempt Interest
and Dividends.
3 Other Interest.
4 Rent.
5 Royalties.
6 Capital Gain.
7 Other.
Must attach schedule.
8 SUB TOTAL Column E. Add lines 1 through 7. Enter Total on line 13 of page 1.
Allocated Without Iowa
9 Net Dividend.
See instructions.
10 Exempt Interest
and Dividends.
11 Other Interest.
12 Rent.
13 Royalties.
14 Capital Gain.
15 Other.
Must attach schedule.
16 SUB TOTAL Column E. Add lines 9 through 15.
17 TOTAL Column E. Add lines 8 and 16. Enter Total on line 9 of page 1.
Schedule E - Business Activity Ratio (BAR) (see instructions) Enter Whole Dollars
Type of Income Column A Iowa Receipts Column B Receipts Everywhere
1 Gross Receipts. 1
2 Net Dividends. See instructions. 2
3 Exempt Interest from line 9, Schedule A. 3
4 Accounts Receivable Interest. 4
5 Other Interest. 5
6 Rent. 6
7 Royalties. 7
8 Capital Gains. 8
9 Ordinary Gains. 9
10 Partnership Gross Receipts. Attach schedule. 10
11 Other. Must attach schedule. 11
12 TOTALS 12
13 Percentage. Divide column A by column B to six decimal places. Enter % on line 11 of page 1. % 13
IA 1120 Page 3 2013
42-001c (09/11/13)
Worksheet - Alternative Minimum Tax (AMT) Credit Carryforward
AB C D E
Tax Period Ended Alternative Minimum Tax Paid Period Applied To Prior Unused
Alternative Minimum Tax Credit Applied Alternative Minimum Tax Credit
Balance of the Unused Alternative Minimum Tax Credit Carryforward. Enter on IA 8827, line 1.
IA 1120 Page 4 2013
Schedule IA 4626 Computation of Alternative Minimum Tax (AMT)
Period Ended _____/_____/_____
All totals from federal form 4626 except as noted. Federal form 4626 must be attached. Enter Whole Dollars.
1 Income Subject to Apportionment from line 10, page 1. ............................................................................................................ 1 ___________________________
2 Total Adjustments and Preferences. ........................................................................................................................................... 2 ___________________________
3 Preferences Not Applicable for Iowa
a Depletion. .................................................................................................... a _______________________________
b Tax Exempt Interest from Private Activity Bonds. ....................................... b _______________________________
4 Total Iowa Tax Preferences. Subtract lines 3a and b from line 2. ............................................................................................. 4 ___________________________
5 Enter Total of lines 1 and 4. ........................................................................................................................................................ 5 ___________________________
6 Adjusted Current Earnings Adjustment. See instructions. ................................................................................................... 6 ___________________________
7 Total of lines 5 and 6. ................................................................................................................................................................. 7 ___________________________
8 Iowa Percentage from line 11, page 1. ....................................................................................................................................... 8 ___________________________
9 Income Apportioned to Iowa. Multiply line 7 by line 8. .............................................................................................................. 9 ___________________________
10 Iowa Nonbusiness Income from line 13, page 1. ....................................................................................................................... 10 ___________________________
11 Add Lines 9 and 10. ................................................................................................................................................................... 11 ___________________________
12 Iowa Alternative Minimum Tax Net Operating Loss (limited to 90% of line 11) (Schedule G, total from column E). ............... 12 ___________________________
13 Iowa Alternative Minimum Taxable Income before Exemption. Subtract line 12 from line 11. ................................................ 13 ___________________________
14 Exemption. See instructions. ...................................................................................................................................................... 14 ___________________________
15 Iowa Alternative Minimum Taxable Income Subject to Tax. Subtract line 14 from line 13. ...................................................... 15 ___________________________
16 Iowa Tentative Minimum Tax. Multiply line 15 by 7.2%. ............................................................................................................ 16 ___________________________
17 Iowa Regular Tax from line 17, page 1. ..................................................................................................................................... 17 ___________________________
18 IOWA ALTERNATIVE MINIMUM TAX: Subtract line 17 from line 16 but not below zero. Enter on line 18, page 1. .............. 18 ___________________________
Schedule IA 8827 Computation of Alternative Minimum Tax (AMT) Credit
Period Ended ____ / ___ / ___ Enter Whole Dollars.
1 Enter Credit Carryforward. See worksheet below. Enter on IA 148 Tax Credits Schedule, column C. .................................... 1 ___________________________
2 Enter Your Current Period Regular Tax Liability Minus Credits. ............................................................................................... 2 ___________________________
3 Enter Your Current Period Tentative Minimum Tax from Line 16 of IA 4626 above. ................................................................ 3 ___________________________
4 Subtract Line 3 from Line 2 but Not Below Zero. ....................................................................................................................... 4 ___________________________
5 Alternative Minimum Tax Credit. Enter the smaller of line 1 or line 4.
Enter on IA 148 Tax Credits Schedule, column F. ................................................................................................................. 5 ___________________________
6 Balance to Carryforward to Next Tax Period. Subtract line 5 from line 1.
Enter on IA 148 Tax Credits Schedule, column H. ..........................................................................................................................
7 Iowa Alternative Minimum Tax from Line 18 Above. .................................................................................................................. 7 ___________________________
8 Total Alternative Minimum Tax Credit Carryforward to Next Tax Period. Add line 6 and line 7. .............................................. 8 ___________________________
42-001d (09/11/13)
Corporation Name: ____________________________________________________________ FEIN: _________________
%
6
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Form IA 1120 2013 Iowa Corporation Income Tax Return 42-001

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Completed 12 January 2020

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