Enlarge image | RESET PRINT Nebraska Corporation Income Tax Return FORM 1120N for the taxable year January 1, 2020 through December 31, 2020 or other taxable year beginning , 2020 and ending , 2020 Name Doing Business As (dba) PLEASE DO NOT WRITE IN THIS SPACE Legal Name Street or Other Mailing Address CityPlease Type or Print State Zip Code Business Classification Code Date Business Began in Nebraska Principal Business Activity in Nebraska Federal ID Number Nebraska ID Number Check if: Initial Return Address Change Exempt Organization 7004 Attached Final Return (Example, dissolved. See instr.) Name Change Cooperative Meeting IRC § 6072(d) 3800N, 775N, or 312N Attached Corporation Filing Status (Answer questions A through D, as applicable.) C. Are you filing as a unitary group in any other state? A. Does this corporation own at least 50% of another corporation; or is (1) YES (2) NO it owned at least 50% by another corporation? D. Check the method used to determine Nebraska income (1) YES (2) NO (check only one): If Yes, attach Federal Form 851 or a schedule of affiliated (1) Combined report of a controlled group of corporations corporations and federal IDs. Answer questions B, C, and D. (2) Separate report by a member of a controlled group B. Is one single Nebraska return being filed for the entire group? of corporations (attach supporting documentation) (1) YES (2) NO (3) Alternate method (attach Nebraska Department of Revenue approval) 1 Federal gross sales or receipts, less returns and allowances ...................................................................... 1 00 2 Federal taxable income (FTI) (see instructions) ........................................................................................... 2 00 3 Adjustments increasing FTI (line 9, from attached Nebraska Schedule A) ........ 3 00 4 Adjustments decreasing FTI (line 19, from attached Nebraska Schedule A) ..... 4 00 5 Adjusted FTI (enter line 2 plus line 3 minus line 4) ...................................................................................... 5 00 6 Nebraska taxable income before Nebraska carryovers (see instructions) ................................................... 6 00 7 Nebraska capital loss carryover (see instructions – attach worksheet) ....................................................... 7 00 8 Nebraska taxable income after Nebraska capital loss carryover (line 6 minus line 7) ................................. 8 00 9 Nebraska net operating loss carryover (see instructions – attach worksheet) ............................................. 9 00 10 Net Nebraska taxable income (line 8 minus line 9) ...................................................................................... 10 00 11 Nebraska tax Check this box if you are an insurance company ............................................................ 11 00 12 Premium tax credit (see instructions – attach schedule) .................................... 12 00 13 Employer’s credit for expenses incurred for TANF (ADC) recipients (see instr.) 13 00 14 School Readiness Tax Credit for providers (see instructions) .......................... 14 00 15 Community Development Assistance Act credit (attach Form CDN) ................. 15 00 16 Form 3800N nonrefundable credit (attach Form 3800N) ................................... 16 00 17 Total nonrefundable credits (total of lines 12 through 16) ............................................................................ 17 00 18 Nebraska tax after nonrefundable credits. Subtract line 17 from line 11 (if line 17 is more than line 11, enter -0-) 18 00 19 Form 3800N refundable credit (attach Form 3800N) ......................................... 19 00 20 Tax deposited with Form 7004N ........................................................................ 20 00 21 2020 estimated income tax payments (minus any Form 4466N adjustment) .... 21 00 22 Beginning Farmer credit .................................................................................... 22 00 23 Nebraska income tax withheld (see instructions) .............................................. 23 00 24 Nebraska Property Tax Incentive Act Credit (attach Form PTC) ......................... 24 00 25 Total refundable credits and payments (total of lines 19 through 24) ........................................................... 25 00 26 Tax Due (line 18 minus line 25) .................................................................................................................... 26 00 27 Penalty for underpayment of estimated income tax (see instructions) .......................................................... 27 00 28 Amount Due (when line 25 is less than the total of lines 18 and 27) If paying electronically, check here .. 28 00 29 Overpayment (when line 25 is greater than the total of lines 18 and 27) ..................................................... 29 00 30 Amount on line 29 to be credited to 2021 estimated income tax ................................................................. 30 00 31 Overpayment to be refunded (line 29 minus line 30). Direct deposit: Complete lines 32a, 32b, and 32c .... 31 00 32a Routing Number 32b Type of Account Checking Savings 32c Account Number (see instructions) 32d Check this box if this refund will go to a bank account outside the United States. Under penalties of perjury, I declare that as taxpayer or preparer, I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is correct and complete. sign Signature of Officer Date Email Address here Title Daytime Phone Number paid preparer’s Preparer’s Signature Date Preparer’s PTIN use only Print Firm’s Name (or yours if self-employed), Address and Zip Code EIN Daytime Phone Paper filers must attach a copy of the federal return and supporting schedules, as filed with the IRS, to this return. 8-270-2020 |
Enlarge image | FORM 1120N Nebraska Schedule A — Adjustments to FTI Schedules A and I Nebraska Schedule I — Apportionment for Multistate Business 2020 Name on Form 1120N Nebraska ID Number Nebraska Schedule A • You must use Schedule A if you make an adjustment on lines 3 or 4 of Form 1120N. Adjustments Increasing FTI 1 State and local government interest and dividend income (see instructions) ..................................................................................... 1 00 2 Federal net operating loss deduction .................................................................................................................................................. 2 00 3 Federal capital loss carryover .............................................................................................................................................................. 3 00 4 Allocable, nonapportionable loss ............................................................ 4 5 Related expenses .................................................................................................................................. 5 6 Interest expense disallowance ............................................................................................................... 6 7 Total allocable, nonapportionable loss (add lines 4-6) (attach affidavit - see instructions) .................................................................. 7 00 8 Other increasing adjustments aList type: _____________________________________________________________ b Amount: $ _______________ Total other increasing adjustments. Enter total of lines 8b ............................................................................................................. 8 00 9 Total adjustments increasing FTI (total of lines 1, 2, 3, 7, and 8). Enter here and on line 3, Form 1120N ........................................... 9 00 Adjustments Decreasing FTI 10 Qualified U.S. government interest deduction. (attach supporting schedule) ...................................................................................... 10 00 11 Total foreign dividends (line 7, Nebraska Schedule II) ........................................................................................................................ 11 00 12 Special foreign tax credit adjustment (line 12, Nebraska Schedule II) ................................................................................................ 12 00 13 Allocable, nonapportionable income....................................................... 13 00 14 Related expenses .................................................................................................................................. 14 00 15 Interest expense disallowance ............................................................................................................... 15 00 16 Net allocable, nonapportionable income (line 13 minus lines 14 and 15) (attach affidavit — see instructions) .................................. 16 00 17 Nebraska College Savings Program (see instructions) ....................................................................................................................... 17 00 18 Other decreasing adjustments aList type: _____________________________________________________________ b Amount: $ _______________ Total other decreasing adjustments. Enter total of lines 18b .......................................................................................................... 18 00 19 TOTAL adjustments decreasing FTI (total of lines 10, 11, 12, 16, 17, and 18). Enter here and on line 4, Form 1120N ....................... 19 00 Nebraska Schedule I — Apportionment for Multistate Business 1 Adjusted FTI (line 5, Form 1120N) ...................................................................................................................................................... 1 00 2 Nebraska apportionment factor (from line 15 below) .......................................................... 2 . % 3 Taxable income apportioned to Nebraska (line 1 multiplied by line 2). Enter here and on line 6, Form 1120N .................................. 3 00 Nebraska Apportionment Factor – Sales or Gross Receipts Total Nebraska 4 Sales or gross receipts minus returns and allowances .................................................. 4 00 5 Sales delivered or shipped to purchasers in Nebraska: shipped from outside Nebraska ............................................................ 5 00 6 Sales delivered or shipped to purchasers in Nebraska: shipped from within Nebraska ............................................................... 6 00 7 Sales shipped from Nebraska to the U.S. government ................................................................................................................ 7 00 8 Interest on sales of tangible personal property .............................................................. 8 00 8 00 9 Interest, dividends, and royalties from intangible property ............................................... 9 00 9 00 10 Gross rents .................................................................................................................... 10 00 10 00 11 Net gain on sales of intangible property ........................................................................ 11 00 11 00 12 Gross receipts from sales of tangible personal and real property not included above .......................................................................................... 12 00 12 00 13 Other income a List type: ____________________ b Total Amount: $ _____________ Nebraskac Amount: $ ___________ Enter total of lines 13b in first column. Enter total of lines 13c in second column ............................................................................................ 13 00 13 00 14 Total sales or gross receipts ...................................................................................... 14 00 14 00 15 Nebraska apportionment factor. (Divide line 14, Nebraska column, by line 14, Total column, and round to six decimal places). Enter as a percent here and on Schedule I, line 2 above ..................................................................... 15 . % |
Enlarge image | FORM 1120N Nebraska Schedule II — Foreign Dividend and Special Foreign Schedule II Tax Credit Deduction 2020 Name on Form 1120N Nebraska ID Number Nebraska Schedule II— Foreign Dividend and Special Foreign Tax Credit Deduction • Attach Schedule C, Federal Form 1120 or Schedule A, Federal Form 1120-L and a schedule separating foreign and domestic dividends. Foreign Dividend Deduction Computation NOTE: The Nebraska Foreign Dividend Deduction calculated on lines 1 through 6 is only for those dividends included in federal taxable income from corporations that are not subject to the Internal Revenue Code (IRC). This includes those corporations whose dividends do not qualify for the dividends received deduction under IRC § 243. 1 Dividends from foreign corporations and certain FSCs subject to the IRC § 245 deduction (total of lines 6 and 7, column (a), Schedule C, Federal Form 1120) .......................................................................................... 1 00 2 Special deductions on line 1 amount. Enter the total of lines 6 and 7, column (c), Schedule C, Federal Form 1120 ..................................................................................................................... 2 00 3 Net foreign dividends subject to the IRC § 245 deduction included in FTI (line 1 minus line 2) .................................................. 3 00 4 Other dividends from foreign corporations. Enter amount from line 14, Schedule C, Form 1120 ............................................... 4 00 5 Income from controlled foreign corporations under Subpart F treated as a foreign dividend under the IRC .............................. 5 00 6 Foreign dividend gross-up (IRC § 78). Enter amount from line 18, Schedule C, Form 1120 ...................................................... 6 00 7 Total foreign dividends (add lines 3 through 6). Enter the result here and on line 11, Schedule A, Form 1120N. ........................ 7 00 Special Foreign Tax Credit Deduction Computation Note: This deduction is only to be claimed when a corporation subject to the IRC is taxed by a foreign country, or one of its political subdivisions, at a rate in excess of the maximum federal corporate tax rate (see instructions). 8 FTI from qualifying foreign taxing jurisdictions Jurisdictions:a _____________________________________ b Amount: $ ____________ Total FTI from qualifying foreign taxing jurisdictions. Enter total of lines 8b .......................... 8 00 9 Foreign taxes ............................................................................................................................. 9 00 10 After tax foreign income (line 8 minus line 9) ............................................................................. 10 00 11 After tax foreign income not taxed (divide line 10 result by .79; enter result here) ..................... 11 00 12 Special foreign tax credit adjustment (if line 11 is greater than or equal to line 8, enter -0-; if line 11 is less than line 8, enter the difference). Enter here and on line 12, Schedule A, Form 1120N. ................................................................................ 12 00 All filers are encouraged to e-file their return. Mail this return and remit payment (electronically, if required) to: Nebraska Department of Revenue, PO Box 94818, Lincoln, NE 68509-4818. revenue.nebraska.gov, 800-742-7474 (NE and IA), 402-471-5729 |