Schedule Sa (Form Il-1120) - Specific Accounting Method Of Computing Net Income For Corporations

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Illinois Department of Revenue
Specific Accounting Method
Tax year ending
Schedule SA (IL-1120)
of Computing Net Income
______ ______
For tax years ending on or after January 1, 2015
for Corporations
Month
Year
Attach to Form IL-1120 as the first attachment.
Step 1: Provide your business information
A
B
Enter your complete legal business name as shown on Form IL-1120.
Enter your federal employer identification no. (FEIN).
_______________________________________________________
___ ___ - ___ ___ ___ ___ ___ ___ ___
Name:
Step 2: Figure your business income or loss
A
B
Pre-1/1/15
Post-12/31/14
figures
figures
1
1
1
Federal taxable income or loss. (IL-1120, Line 1)
00
00
2
2
2
Federal net operating loss deduction. (IL-1120, Line 2)
00
00
3
3
3
00
00
Illinois addition modifications. (IL-1120, Lines 3 through 8)
4
4
4
Total income or loss. Add Lines 1 through 3. (IL-1120, Line 9)
00
00
5
5
5
Illinois subtraction modifications. (IL-1120, Line 22)
00
00
6
Illinois base income or loss. (IL-1120, Line 23)
If you did not complete Step 4 of your Form IL-1120: Skip Step 3 below
and enter the amounts from Line 6 on Line 17.
6
6
If you completed Step 4 of your Form IL-1120: Complete Step 3 below.
00
00
Step 3: Figure your apportionment factor
7
7
7
Nonbusiness income or loss. (IL-1120, Line 24)
00
00
8
Business income or loss from non-unitary partnerships, trusts,
8
8
or estates. (IL-1120, Line 25)
00
00
9
9
9
Add Lines 7 and 8. (IL-1120, Line 26)
00
00
10
10
10
00
00
Business income or loss. Subtract Line 9 from Line 6. (IL-1120, Line 27)
11
11
Enter the total sales everywhere. (IL-1120, Line 28)
12
12
Enter the total sales within Illinois. (IL-1120, Line 29)
13
Apportionment factor.
Divide Line 12 by Line 11 and carry to six
13
decimal places. (IL-1120, Line 30)
14
Illinois business income or loss.
14
14
Multiply Line 10 by Line 13, for each column. (IL-1120, Line 31)
00
00
15
15
15
Nonbusiness income or loss allocable to Illinois. (IL-1120, Line 32)
00
00
16
Non-unitary partnership, trust, or estate business income
16
16
or loss apportionable to Illinois. (IL-1120, Line 33)
00
00
Step 4: Figure your income tax
17
Base income or net loss. (IL-1120, Line 35)
If you skipped Step 3: Enter the amounts from Columns A and B, Line 6.
17
17
If you completed Step 3: For each column, add Lines 14 through 16.
00
00
18
18
Illinois net loss deduction. See instructions. (IL-1120, Line 38)
00
19
Net income. See instructions.
Column A: Subtract Column A, Line 18 from Column A, Line 17.
19
19
Column B: Enter the amount from Column B, Line 17.
00
00
20
If Column A, Line 19 is negative: enter zero in Column A, Line 20,
and enter in Column B, Line 20, the result of adding Column B, Line 19, plus
Column A, Line 19. If Column B, Line 20, is negative do not use this schedule.
If Column A, Line 19 is positive: enter Column A, Line 19, on Column A,
00
00
20
20
Line 20, and enter Column B, Line 19, on Column B, Line 20.
21
Tax.
Column A: Multiply Line 20 by 7% (.07).
21
21
Column B: Multiply Line 20 by 5.25% (.0525).
00
00
22
Add Columns A and B, Line 21, and enter the total
22
here and on your Form IL-1120, Line 45.
00
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this
information is REQUIRED. Failure to provide information could result in a penalty.
Schedule SA (IL-1120) (R-12/14)
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