Fillable Form IA 1120 2019 Iowa Corporation Income Tax Return

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Form IA 1120 2019 Iowa Corporation Income Tax Return

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The Form IA 1120 2019 Iowa Corporation Income Tax Return form is 3 pages long and contains:

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2019 IA 1120
Iowa Corporation Income Tax Return
https://tax.iowa.gov
42-001a (05/08/19)
Step 1
Tax Period
___________ to _____________
▲
Postmark ▲
Office Use Only
Check the box if
Address Change
Short Period
▲
Corporation Name and Address
▲
Federal Employer Identification Number (FEIN)
▲
County No ▲ Business Code ▲
Is this a first or final return? If yes, check the appropriate box.
First Return ▲
New Business
Entering Iowa
Name of contact person
Final Return ▲
Reorganized
Merged
Dissolved
Phone ( )
Withdrawn
Other
Step 2 Filing Status
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?
▲
Yes
No
Period(s)
Do you have property in Iowa? ▲ Yes No
Use whole dollars
Step 3
Net Income
and
Additions to
Income
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. _________________
Step 4
Reductions to
Income
5. 50% of federal tax paid or accrued .... Accrual Cash
▲ .............. 5. __________________ ▲
6. O
ther reductions from Schedule A. ..................................................................... 6. __________________
▲
7. Total reductions. Add lines 5 and 6 ............................................................................................................. 7. _________________
8. Net income after reductions. Subtract line 7 from line 4 .............................................................................. 8. _________________
Step 5
Taxable
Income
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. Include Schedule F ..................................................... 15._________________
▲
16. Income subject to tax. Subtract line 15 from line 14. Do not enter an amount below $0 .............................. 16. ________________
Step 6
Tax, Credits
and
Payments
17. Computed tax. For tax rates, see bottom of page 3. Check box if tax is annualized ........................... 17. ________________
▲
18. Alternative Minimum Tax from IA Corp. Form 4626. Check box if claiming small business exemption. 18. ________________
▲
19. T
otal 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. S
ubtract line 22 from line 19 ................................................................................................... 23. ________________
Step 7
Balance Due
24. Tax due if line 23 is greater than $0 ............................................................................................................ 24. ________________
25. Penalty; underpayment of estimated tax. Include IA 2220 ........................................................................... 25. ________________
▲
26. Penalty; failure to timely pay or failure to timely file ..................................................................................... 26. ________________
▲
27. Interest ....................................................................................................................................................... 27. ________________
▲
28. Total amount due. Add lines 24 through 27. Pay electronically, or submit payment with form IA 1120V ...... 28. ________________
▲
Step 8
Overpayment
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. ________________
▲
2019 IA 1120, page 2
42-001b (08/22/19)
Corporation Name: _____________________________________________________________ FEIN: ______________________________
Schedule A - Other Additions and Reductions
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. Expensing/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 below
▲
14. Federal Securities Interest and Dividends. See instructions.
15. Adjustments due to 2018 Nonconformity. See instructions.
16.
Other. Must include schedule.
▲
▲
17. Totals
Enter total on line 3 of page 1. Enter total on line 6 of page 1.
Schedule B - Foreign Dividend Exclusion
Type of Dividend Income
Total Dividend
Exclusion
1. Less than 20% owned
x 50%
2. 20% owned
x 65%
3. Small Business Investment Company
x 100%
4. Qualifying Dividends x 100%
5. Total. Add lines 1 through 4. Enter on line 13 of Schedule A above. ..................................................... _________________________________________
Schedule C1 - Credits Amount
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 Credits. Add lines 1-3. Enter on page 1,
line 20 ................................................................... _____________
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 1, line 21. .......... _______________
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: _______________________________________________
Income before Net Operating Loss, line 14 ____________________________
▲
FEIN: _________________________________________________________ ▲
4. I
f part of a federal consolidated group, please provide information about the Corporate parent:
Corporation name: _______________________________________________
FEIN: _________________________________________________________
▲
2019 IA 1120, page 3
42-001c (05/08/19)
Corporation Name: _______________________________________________________________ FEIN: ___________________________
Schedule E - Business Activity Ratio (BAR) (see instructions)
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 Gain
▲8
9. Ordinary Gain
▲9
10. Partnership Gross Receipts. Include schedule.
▲10
11. Other. Must include schedule.
▲
▲11
12. Total. Add lines 1-11.
▲
▲12
13. Divide column A total by column B total. For example, 0.1234505 becomes 12.3451%. Enter % on line 11, page 1. _____________________ %
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 include pages 1-5
of your consolidated federal return, consolidating income statements, Iowa Schedule H and any other forms related to the Iowa return.
T
ax Rates
If income shown on line 16 (of page 1) is:
• Under $25,000; multiply line 16 by 6%.
• $25,000 to $100,000; multiply line 16 by 8% and subtract $500.
• $100,000 to $250,000; multiply line 16 by 10% and subtract $2,500.
• Over $250,000; multiply line 16 by 12% and subtract $7,500.
If annualizing, include a schedule showing computation.
To obtain schedules and forms:
Website: https://tax.iowa.gov
Tax Research Library: http://itrl.idr.iowa.gov/
Questions:
515-281-3114 or 800-367-3388
Email: idr@iowa.gov
eFile or mail your return to:
Corporation Tax Return Processing
Iowa Department of Revenue
PO Box 10468
Des Moines, IA 50306-0468
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.
Officer’s signature _________________________________________________________ Title _______________________________ Date __________________
Signature of preparer if other than taxpayer ________________________________________________________________________ Date __________________
Name and address of preparer or preparer’s employer
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
Preparer’s telephone No. _________________________________________
Preparer’s
ID No. ___________________________________________ ▲
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Form IA 1120 2019 Iowa Corporation Income Tax Return

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Completed 12 January 2020

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