2022 Form IL-1120-ST, Small Business Corporation Replacement Tax Return-2025

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The document is the 2022 Form IL-1120-ST, a Small Business Corporation Replacement Tax Return for the Illinois Department of Revenue. It outlines the requirements and steps for small business corporations to report their income, calculate taxes owed, and provide necessary information regarding their business operations and partners or shareholders. The form includes sections for identifying the corporation, calculating ordinary income or loss, determining base income or loss, and reporting taxes due or refunds.

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Click ‘Get Form’ to open the 2022 Form IL-1120-ST in our editor.
Begin by entering your complete legal business name and federal employer identification number (FEIN) in the designated fields. If there has been a name change, check the appropriate box.
Fill in your mailing address accurately. If this is your first return or if you have an address change, ensure to check the corresponding box.
Proceed to Section A where you will identify your small business corporation. Complete all relevant fields including checking boxes for any attached schedules such as Schedule UB or Schedule M.
Continue through each step of the form, ensuring that you calculate your ordinary income or loss accurately by following the instructions provided for each line item.
Once all sections are completed, review your entries for accuracy before submitting. Use our platform's features to save and share your completed form easily.

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Where to file IL-1120-ST?

Mailing Addresses AreaAddress IL-1120-ST, Small Business Corporation Replacement Tax Return Without Payment PO BOX 19032 SPRINGFIELD IL 62794-9032 With Payment PO BOX 19053 SPRINGFIELD IL 62794-90536 more rows

Can I file IL-1120-ST online?

You can electronically file Forms IL-1120, Corporation Income and Replacement Tax Return; IL-1065, Partnership Replacement Tax Return; IL-1120-ST, Small Business Corporation Replacement Tax Return; IL-1041, Fiduciary Income and Replacement Tax Return; and any attachments and payments through our partnership with the

Who is subject to replacement tax in Illinois?

The Illinois Income Tax is based, to a large extent, on the federal income tax code. Replacement Tax, also known as Personal Property Replacement Tax, is a tax on the net income of corporations, subchapter S corporations, partnerships, and trusts.

What is form IL-1120-ST for?

You must file Form IL-1120-ST if you are a small business corporation (S corporation), as defined in Internal Revenue Code (IRC) Section 1361(a), that has net income or loss as defined under the Illinois Income Tax Act (IITA); or is qualified to do business in the state of Illinois and is required to file federal

What is the replacement tax in Illinois for small business corporations?

Illinois personal property replacement tax The amount you pay depends on your entity type. C corps pay a rate of 2.5% of their net income, while partnerships, trusts, and S corps pay 1.5% of their net income.

form il 1120 st

IL-1120-ST Small Business Corporation Replacement Tax Return payment Illinois corporate Tax Return 2024 IL-1120-ST Illinois Amended sales tax Return instructions Illinois Schedule J 2023 IL Form 700 Illinois Corporate forms How to register a business in Illinois

How to file illinois state taxes electronically?

Unless exempt, all domestic corporations must file an income tax return, whether or not they have taxable income. Unless you are a domestic corporation that is required (or elects) to file a special return, you must file Form 1120. You can file Form 1120 online or by mail.

Can I submit form 1120 online?

To make your payment electronically, visit tax.illinois.gov or scan the QR code provided.