Form Il-990-T Draft - Exempt Organization Income And Replacement Tax Return - 2007 Page 2
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1
2Step 5: Figure your net income tax
18
18
Base income or net loss from Line 12.
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19
19
Income tax. Corporations multiply Line 18 by 4.8% (.048); trusts 3% (.03).
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20
20
Recapture of investment credits. Attach Schedule 4255.
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21
21
Income tax before credits. Add Lines 19 and 20.
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22
22
Income tax credits. Attach Schedule 1299-D.
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23
23
Net income tax. Subtract Line 22 from Line 21. If the amount is negative, write “0.”
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Step 6: Figure your refund or balance due
24
24
Net replacement tax from Line 17.
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25
25
Net income tax from Line 23.
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26
26
Total net income and replacement taxes. Add Lines 24 and 25.
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27
Payments.
a
27a
Credit from 2006 overpayment.
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b
27b
T otal estimated payments.
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c
27c
Form IL-505-B (extension) payment.
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28
28
Total payments. Add Lines 27a through 27c.
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29
29
Overpayment. If Line 28 is greater than Line 26, subtract Line 26 from Line 28.
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30
30
Amount to be credited to 2008.
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31
31
Refund. Subtract Line 30 from Line 29. This is the amount to be refunded.
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32
Tax Due. If Line 26 is greater than Line 28, subtract Line 28 from Line 26.
32
This is the amount you owe.
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Make your check payable to “Illinois Department of Revenue.”
Write the amount of your payment on the top of Page 1 in the space provided.
Step 7: Sign here
Under penalties of perjury, I state that I have examined this return and, to the best of my knowledge, it is true, correct, and com-
plete.
____________________________________________
___/___/______
________________________ (_____)__________
Signature of authorized officer
Date
Title
Phone
____________________________________________
___/___/______
____________________________
Signature of preparer
Date
Preparer’s Social Security number or firm’s FEIN
_________________________________ __________________________________________________
(_____)__________
Preparer firm’s name (or yours, if self-employed)
Address
Phone
Mail this return to: Illinois Department of Revenue, P.O. Box 19009, Springfield, IL 62794-9009
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to provide informa-
tion could result in a penalty. This form has been approved by the Forms Management Center. IL-492-0076
IL-990-T back (R-12/07)
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