Illinois Department of Revenue                                                     Use for tax year ending on or 
                                                                                   after December 31, 2022, and 
                                                                                   before December 31, 2023.
IL-1120-ST Instructions                                                                                                       2022

                 What’s New?                                                               Table of Contents

•  Illinois Net Loss deductions are to be reported on Schedule NLD,        What’s New? ........................................................ 1
Illinois Net Loss Deduction. Attach Schedule NLD to your Form 
IL-1120-ST. 
                                                                           General Information ............................................ 1
•  IL-4562 has been updated to include 80 percent bonus 
depreciation.                                                              Specific Instructions ........................................... 7

•  Schedule 4255 has new recapture of credit lines.                        Apportionment Formulas .................................. 16

•  IL-2220 was updated to incorporate the late-payment penalty for         Illinois Schedule B Instructions ....................... 18
underpayment of estimated tax for filers of Forms IL-1065 and 
IL-1120-ST that elect to pay pass-through entity (PTE) tax. 
                                                                           Appendix A - Extension Tax Payment 
•  Schedule B, Section B has been reformatted from horizontal to           Worksheet .......................................................... 22
vertical orientation. 
                                                                           Appendix B - Pass-through Withholding 
                                                                           Prepayment Worksheets ................................... 23

                                                                           Appendix C - Estimated Payment and 
                                                                           Prepayment Worksheet ..................................... 25

                                        General Information

Who must file Form IL-1120-ST?                                             S corporations must complete Form IL-1120-ST. Do not send a 
                                                                           computer printout with line numbers and dollar amounts attached 
You must file Form IL-1120-ST if you are a small business 
                                                                           to a blank copy of the return. Computer generated printouts are not 
corporation (“S corporation”), as defined in Internal Revenue Code 
                                                                           acceptable, even if they are in the same format as IDOR’s forms. 
(IRC) Section 1361(a), that 
                                                                           Computer generated forms from an IDOR-approved software 
•  has net income or loss as defined under the Illinois Income Tax         developer are acceptable.
Act (IITA); or
                                                                                    Form IL-1120-ST (R-12/22) is for tax years ending on 
•  is qualified to do business in the state of Illinois and is required to or after December 31, 2022, and before December 31, 2023. 
file U.S. Form 1120S (regardless of net income or loss).                   For tax years ending on or after December 31, 2021 and before 
If you own a Qualified Subchapter S Subsidiary (QSSS) defined              December 31, 2022, use the 2021 form. Using the wrong form will 
in IRC Section 1361(b)(3), as well as any other entity that is             delay the processing of your return. 
disregarded as an entity separate from you for purposes of the IRC, it 
is likewise disregarded as a separate entity for purposes of the IITA.     How do I register my business?
You must include all items of income, deduction, loss, credit, etc.,       If you are required to file Form IL-1120-ST, you should register with 
from such entities on your return as if they were earned or incurred       IDOR. You may register
by you directly.                                                           •  online with MyTax Illinois, our free online account management 
If you are an S corporation that is a member of a unitary business           program for taxpayers; 
group, see the Illinois Schedule UB, Combined Apportionment for            • by completing Form REG-1, Illinois Business Registration 
Unitary Business Group Instructions and “What if I am a member of            Application, and mailing it to the address on the form; or
a unitary group?” in the general instructions below for information        • by visiting a regional office.
about filing requirements. S corporations may be required to 
apportion their business income as members of a unitary group, but         Visit our website at tax.illinois.gov for more information.
cannot file a combined return.                                             Registering with IDOR prior to filing your return ensures that your 
                                                                           tax returns are accurately processed. 
What forms must I use?
                                                                           Your identification numbers as an Illinois business taxpayer are 
In general, you must obtain and use forms prescribed by the Illinois       your federal employer identification number (FEIN) and your Illinois 
Department of Revenue (IDOR). Separate statements not on forms             account number.
provided or approved by IDOR will not be accepted and you will 
be asked for appropriate documentation. Failure to comply with             When should I file?
this requirement may result in failure to file penalties, a delay          Your Illinois filing due date is the same as your federal filing due 
in the processing of your return, or a delay in the generation             date. In general, Form IL-1120-ST is due on or before the 15th day of 
of any overpayment. Additionally, failure to submit appropriate            the 3rd month following the close of the tax year. 
documentation when requested may result in a referral to our Audit 
Bureau for compliance action.
IL-1120-ST Instructions (R-12/22)       Printed by the authority of the State of Illinois - web only - one copy.              Page 1 of 27

Automatic seven-month extension — We grant you an automatic              Who should sign the return?
seven-month extension of time to file your small business corporate 
                                                                         Your Form IL-1120-ST must be signed by the president, vice 
tax return. The automatic extension of time to file is granted whether 
                                                                         president, treasurer, or any other officer duly authorized to sign the 
or not you request it. You are not required to file a form in order to 
                                                                         return. In the case of a bankruptcy, a receiver, trustee, or assignee 
obtain this automatic extension. If you expect tax to be due, you 
                                                                         must sign any return required to be filed on behalf of the corporation. 
must pay any tentative tax due, by the original due date of the 
                                                                         The signature verifies by written declaration (and under penalties 
return, in order to avoid interest and penalty on tax not paid by that 
                                                                         of perjury) that the signing individual has personally examined the 
date. To pay any tax due by the original due date of your return:
                                                                         return and the return is true, correct, and complete. The fact that 
•   visit tax.illinois.gov, for information about ACH credit,            an individual’s name is signed to a return is prima facie evidence 
•   pay using mytax.illinois.gov, or                                     that the individual is authorized to sign the return on behalf of the 
•   mail Form IL-1120-ST-V, Payment Voucher for Small Business           corporation.
    Corporation Replacement Tax, using the address on the form.          Any person paid to prepare the return (other than a regular, full-time 
If an unpaid liability is disclosed when you file your return, then you  employee of the taxpayer, such as a clerk, secretary, or bookkeeper) 
may owe penalty and interest charges in addition to the tax. See the     must provide a signature, date the return, enter the preparer tax 
“What are the penalties and interest?” section below. An extension       identification number (PTIN) issued to them by the Internal Revenue 
of time to file your Form IL-1120-ST is not an extension of time         Service, and provide their firm’s name, FEIN, address, and phone 
for payment of Illinois tax.                                             number. 
Additional extensions beyond the automatic extension period                      If your return is not signed, any overpayment of tax is 
— We will grant an extension of more than seven months only if an        considered forfeited if, after notice and demand for signature, you fail 
extension is granted by the Internal Revenue Service (IRS) beyond        to provide a signature within three years from the date your return 
the date of the Illinois automatic extension. Your additional Illinois   was filed.
extension will be equal to the federal extension, plus one month. 
                                                                         What are the penalties and interest?
You must attach a copy of the approved federal extension to your 
Form IL-1120-ST.                                                         Penalties — You will owe 
                                                                         •  a late-filing penalty if you do not file a processable return by the 
When should I pay?                                                          extended due date;
Payment of tax — You must pay your Illinois Replacement Tax,             •  a late-payment penalty if you do not pay the tax you owe by the 
pass-through withholding, and PTE tax you elect to pay in full on or        original due date of the return; 
before the original due date of the return. Failure to pay the tax due 
on or before the original due date of the return may result in penalty   •  a late-payment penalty for underpayment of estimated tax if 
and interest. This payment date applies even though an automatic            you were required to make estimated tax payments and failed to 
extension for filing your return has been granted. All payments must        do so, or failed to pay the required amount by the payment due 
be made using Form IL-1120-ST-V.                                            date;
Extension Payments - If you expect tax to be due, you must pay           •  a bad check penalty if your remittance is not honored by your 
any tentative tax due by the original due date of the return using          financial institution; and
Form IL-1120-ST-V, either electronically or by mail. See Appendix A      • a  cost of collection fee if you do not pay the amount you owe 
for more information.                                                       within 30 days of the date printed on your bill.
Estimated tax payments — S corporations who elect to pay                 Interest —   Interest is calculated on tax from the day after the original 
PTE tax and reasonably expect their total tax liability to exceed        due date of your return through the date you pay the tax. 
$500 are required to make estimated tax payments using                   We will bill you for penalties and interest. For more information about 
Form IL-1120-ST-V, either electronically or by mail. All other           penalties and interest, see Publication 103, Penalties and Interest for 
S corporations are not required to make estimated tax payments.          Illinois Taxes, available at tax.illinois.gov.
See Appendix C for more information. 
Voluntary Prepayments - S corporations who do not elect to               What if I am discontinuing my business?
pay PTE tax or S corporations who elect to pay PTE tax and               Liquidation, withdrawal from Illinois, or loss of charter — If you 
reasonably expect their total tax liability to be less than $500 may     are a corporation that is liquidated, withdraws either voluntarily or 
make voluntary prepayments of their own tax liability using Form         involuntarily from Illinois,  orin any manner surrenders or loses your 
IL-1120-ST-V. S corporations who do not elect to pay PTE tax may         charter during any tax year, you are still required to file tax returns. 
also use Form IL-1120-ST-V to make pass-through withholding              Also, we will pursue the assessment and collection of taxes owed by 
prepayments on behalf of your shareholders. See Appendix B and           you or your shareholders.
Appendix C for more information.                                         Sales or transfers — If you are a corporation that, outside the usual 
We encourage you to make your payments electronically using              course of business, sells or transfers the major part of any one or 
MyTax Illinois or Modernized E-File (MeF) systems, or you may            more of
use Form EFT-1, Authorization Agreement for Certain Electronic           •  the stock of goods which you are in the business of selling,
Payments, to set up an ACH credit or phone debit transaction.            •  the furniture or fixtures of your business,
These options can be found on our website at tax.illinois.gov. If 
you make your payments using MyTax Illinois, MeF, or EFT, do             •  the machinery and equipment of your business, or
not mail us your Form(s) IL-1120-ST-V. You must use one of our           •  the real property of your business,
electronic payment options if IDOR has notified you that you are         you or the purchaser must complete and send us Form CBS-1, 
required to make payments electronically.                                Notice of Sale, Purchase, or Transfer of Business Assets, no later 
We will apply each payment to the earliest due date until that liability than 10 business days prior to the date the sale takes place. Send 
is paid, unless you provide specific instructions to apply it to another this form, along with copies of the sales contract and financing 
period. You may also be assessed a bad check penalty if your             agreement, to 
remittance is not honored by your financial institution.

Page 2 of 27                                                                                                           IL-1120-ST Instructions (R-12/22) 

   ILLINOIS DEPARTMENT OF REVENUE                                           Do IDOR and the IRS exchange income                              
   BULK SALES UNIT
   PO BOX 19035                                                             tax information?
   SPRINGFIELD IL  62794-9035                                               IDOR and the IRS exchange income tax information for the purpose 
or                                                                          of verifying the accuracy of information reported on federal and 
   REV.BulkSales@illinois.gov                                               Illinois tax returns. All amounts you report on Form IL-1120-ST are 
                                                                            subject to verification and audit.
What if I need to correct or change my return?
                                                                            Should I round?
Do not file another Form IL-1120-ST with “amended” figures 
to change your originally filed Form IL-1120-ST. If you need to             You must round the dollar amounts on Form IL-1120-ST and 
correct or change your return after it has been filed, you must file        accompanying schedules to whole-dollar amounts. To do this, you 
Form IL-1120-ST-X, Amended Small Business Replacement Tax                   should drop any amount less than 50 cents and increase any amount 
Return. Returns filed before the extended due date of the return are        of 50 cents or more to the next higher dollar.
treated as your original return for all purposes. For more information,     What if I have an Illinois net loss                              
see Form IL-1120-ST-X instructions.
                                                                            deduction (NLD)?
You should file Form IL-1120-ST-X only after you have filed a 
processable Illinois Income Tax return. You must file a separate            An Illinois net loss deduction (NLD) can be used to reduce the base 
Form IL-1120-ST-X for each tax year you wish to change.                     income allocable to Illinois only if the loss year return has been filed 
                                                                            and to the extent the loss was not used to offset income from any 
State changes only — File Form IL-1120-ST-X promptly if you                 other tax year. S corporations and partnerships, including any that 
discover an error on your Illinois return that does not relate to an        are members of a unitary group, trusts, and non-unitary corporations 
error on your federal return but rather was caused by                       should use Schedule NLD, Illinois Net Loss Deduction, to determine 
•  a mistake in transferring information from your federal return to        any NLD. 
   your Illinois return;                                                    To determine your “Illinois net loss” start with federal taxable income 
•  failing to report or misreporting to Illinois an item that has no effect and apply all addition and subtraction modifications and all allocation 
   on your federal return; or                                               and apportionment provisions.
•  a mistake in another state’s tax return that affects the computation     In order to have any available NLD applied to your return, you must 
   of your Illinois tax liability.                                          claim the deduction on Step 7, Line 50. See specific instructions for 
If you are claiming an overpayment, Form IL-1120-ST-X must be               Step 7, Line 50.
filed within three years after the extended due date or the date the        If you have an Illinois net loss for this tax year, you must file Form 
return was filed, or within one year after the tax giving rise to the       IL-1120-ST reporting the loss in order to carry the loss forward to 
overpayment was paid, whichever is latest.                                  another year.
Federal changes only — File Form IL-1120-ST-X if you have filed             If corrections have been made to the loss amount (e.g., federal audit 
an amended federal return or if you have been notified by the IRS           or amended return), you must report the corrected amount when you 
that they have made changes to your return. This includes any               file. 
change in your federal income tax liability, any tax credit, or the                Ensure you have filed returns (i.e., Form IL-1120, Form 
computation of your federal taxable income as reported for federal          IL-1120-ST, Form IL-1041, or Form IL-1065) for all periods in which 
income tax purposes, if the change affects any item entering into the       you were required to file an Illinois return. Unfiled returns may result 
computation of net income, net loss, or any credit for any year under       in disallowed losses, processing delays, and further correspondence 
the IITA. You must file Form IL-1120-ST-X no later than 120 days            from IDOR. 
after the federal changes have been agreed to or finally determined 
to avoid a late-payment penalty.                                            If you need more information about Illinois NLD, see Schedule 
                                                                            NLD instructions or the 86 Ill. Adm. Code Sections 100.2050 
If your federal change decreases the tax due to Illinois and                and 100.2300 through 100.2330, available on our website at 
you are entitled to a refund or credit carryforward, you must file          tax.illinois.gov.
Form IL-1120-ST-X within two years plus 120 days of federal 
finalization.                                                               What are the carry provisions of the 
Attach a copy of federal finalization or proof of acceptance from the       Illinois NLD?
IRS along with a copy of your amended federal form, if applicable, to       For tax years ending on or after December 31, 2021, Illinois net 
your Form IL-1120-ST-X. Examples of federal finalization include a          losses cannot be carried back and can only be carried forward for 
copy of one or more of the following items:                                 20 tax years. 
•  your audit report from the IRS                                           For tax years ending on or after December 31, 2003, and 
•  your federal record of account verifying your ordinary business          before December 31, 2021, Illinois net losses cannot be carried 
   income                                                                   back, and can only be carried forward for 12 years. However, 
                                                                            the carryover period of any net loss that had not expired as of 
What records must I keep?                                                   November 16, 2021, shall be extended from 12 years to 20 years. 
You must maintain books and records to substantiate any                     For tax years ending on or after December 31, 1999, and before 
information reported on your Form IL-1120-ST. Your books and                December 31, 2003, all Illinois net losses must be carried back two 
records must be available for inspection by our authorized agents           years (unless an election to only carry forward is made) then forward 
and employees.                                                              20 years. The election to carry a loss forward only was made by 
                                                                            checking the appropriate box on the original or amended loss-year 
                                                                            return, whichever showed the loss first. Once the election was made 
                                                                            to forgo the Illinois carryback provision, the election was irrevocable. 

IL-1120-ST Instructions (R-12/22)                                                                                                Page 3 of 27

Losses incurred in tax years ending before December 31, 1999,              ILLINOIS DEPARTMENT OF REVENUE
can be carried back and carried forward for the periods allowed            TAXPAYER CORRESPONDENCE 
under Internal Revenue Code (IRC) Section 172, for the tax year in         PO BOX 19044
which the loss was incurred. In general, losses incurred in tax years      SPRINGFIELD IL  62794-9044
beginning                                                                Definitions to help you complete your Form 
•  after August 5, 1997, and ending before December 31, 1999,            IL-1120-ST.
must be carried back two years, then forward 20 years.                   All references to “income” include losses.
•  on or before August 5, 1997, must be carried back three years,        Base income means federal ordinary income modified by additions 
then forward 15 years.                                                   and subtractions as shown in Steps 2 through 5 of Form IL-1120-ST. 
     For tax years ending on or after December 31, 1996, and             See specific instructions for Steps 2 through 5.
before December 31, 2003, you may have made the election to forgo        Business income means all income (other than compensation) 
any of the previously mentioned Illinois NLD carryback periods by        that may be apportioned by formula among the states in which 
checking the appropriate box on your loss year return. This election     you are doing business without violating the Constitution of the 
must have been made by the extended due date of your return and          United States. All income of a corporation is business income 
once made was irrevocable for that tax year.                             unless it is clearly attributable to only one state and is earned or 
In addition, the special carryover periods in IRC Section 172, as in     received through activities totally unrelated to any business you are 
effect for a particular tax year, would apply to losses incurred in that conducting in more than one state. Business income is net of all 
year. For example, a “specified liability loss” incurred in 1998 may be  deductions attributable to that income.
carried back 10 years under IRC Section 172(b)(1)(c).                    Most income of a corporation is regarded as business income. 
Also, no limitations under IRC Section 382 or the separate return        Consequently, in the case of a corporation other than a personal 
limitation year provisions of the federal consolidated return            holding company, the consistent treatment of income from 
regulations apply to any NLD carryover.                                  intangibles as business income in filing Illinois tax returns will be 
                                                                         presumed correct. 
What if I have a discharge of indebtedness?
If you had discharge of indebtedness income for a taxable year           Commercial domicile means the principal place from which your 
ending on or after December 31, 2008, and all or a portion of            trade or business is directed or managed.
this income was excluded from your federal gross income due to           Nonbusiness income means all income other than business 
bankruptcy or insolvency, then you may be required to reduce any         income or compensation. For more information about the different 
Illinois net loss you incurred for that year before you determine an     types of nonbusiness income, see the instructions for Illinois 
Illinois NLD. This reduction is made on the Illinois income tax return   Schedule NB, Nonbusiness Income.
you filed for the loss year using the Loss Reduction Worksheet on        A pass-through entity is any entity treated as a partnership, 
Page 10 of these instructions. Attach a copy of your U.S. Form 982,      subchapter S corporation, or trust for federal income tax purposes.
Reduction of Tax Attributes Due to Discharge of Indebtedness, to         Pass-through entity income is the income that any partnership, 
your return. For more information, see 86 Ill. Adm. Code Section         subchapter S corporation, or trust passes through to its partners, 
100.2310(c).                                                             shareholders, or beneficiaries.
What attachments do I need?                                              Pass-through Entity (PTE) tax is an amount equal to 4.95% 
When filing your return there are certain types of income items          (0.0495) of the taxpayer’s calculated net income for the taxable year 
and subtraction modifications that require the attachment of             paid by a partnership (other than a publicly traded partnership under 
Illinois or federal forms and schedules. Breakdowns, statements,         Section 7704 of the Internal Revenue Code) or an S corporation 
and other documentation may also be required. Instructions for           who elects to pay the tax for taxable years ending on or after 
these attachments appear throughout the specific instructions for        December 31, 2021, and beginning prior to January 1, 2026.
completing your return.                                                  PTE tax credit is the distributive share of the credit allowed as a 
     All Illinois forms and schedules include an “IL Attachment          result of a partnership or S corporation having elected to pay the 
No.” in the upper right corner of the form. Required attachments         PTE tax. 
should be ordered numerically behind the tax return, as indicated by     PTE tax credit is
the IL Attachment No. Failure to attach forms and schedules in the       •  reported to your shareholders on the Schedule K-1-P and
proper order may result in processing delays. 
                                                                         •  reported to IDOR on Form IL-1120-ST and Illinois Schedule B.
Required copies of documentation from your federal return or other 
sources should be attached behind the completed Illinois return.         A nonresident individual shareholder of an S Corporation for a 
                                                                         taxable year in which the election to pay PTE tax was made shall 
You must attach a copy of your U.S. Form 1120S, Pages 1                  not be required to file an income tax return under the IITA for such 
through 5, to your Illinois return.                                      taxable year if the only source of net income of the individual (or the 
Schedule B, Partners’ or Shareholders’ Information, must be              individual and the individual’s spouse in the case of a joint return) 
completed and attached to all Form IL-1120-ST filings.                   is from an entity making the PTE election and the credit allowed to 
If you are required to attach any Schedule(s) K-1-P, Partner’s or        the shareholder equals or exceeds the individual’s liability for the tax 
Shareholder’s Share of Income, Deductions, Credits, and Recapture,       imposed under subsections (a) and (b) of Section 201 of the IITA for 
only attach Schedule(s) K-1-P you received which lists your name         the taxable year.
and FEIN in Step 2 of Schedule K-1-P. Do not attach copies of            Pass-through withholding is the amount required to be reported 
Schedule(s) K-1-P you issued and which lists your name and FEIN          and paid by the pass-through entity, who does not elect to pay 
in Step 1 of Schedule K-1-P.                                             PTE tax, on behalf of its nonresident partners, shareholders, and 
     When filing your Form IL-1120-ST, include only forms and            beneficiaries 
schedules required to support your return. Send correspondence           • who have not submitted Form IL-1000-E, Certificate of 
separately to:                                                             Exemption for Pass-through Withholding, to the pass-through 
                                                                           entity, and
Page 4 of 27                                                                                                       IL-1120-ST Instructions (R-12/22) 

• who receive business and nonbusiness income from the                    You must use IllinoisSchedule K-1-P(3), Pass-through Withholding 
  pass-through entity.                                                    Calculation for Nonresident Members, to calculate the required 
Pass-through withholding is                                               tax you must report and pay on behalf of your nonresident 
                                                                          shareholders who receive business or nonbusiness income from 
• reported to your shareholders on the Schedule K-1-P you send 
                                                                          your S corporation. You must complete the schedule if you have 
  to them,
                                                                          business or nonbusiness income distributable to Illinois nonresident 
• reported to IDOR on your Form IL-1120-ST and Illinois                   shareholders who have not provided you with Form IL-1000-E. 
  Schedule B, and                                                         You are required to complete Schedule K-1-P(3) for each such 
• paid with your return or voluntarily prepaid with                       shareholder and keep a copy of the completed schedule in your files. 
  Form IL-1120-ST-V.                                                      Do not submit Schedule K-1-P(3) to IDOR unless we request it 
         If any of your shareholders are pass-through entities            from you. The information entered on this schedule will assist you 
themselves, they are required to report and pay pass-through              in completing Illinois Schedule B. See Schedule K-1-P(1) for more 
withholding on behalf of their own nonresident partners,                  information.
shareholders, or beneficiaries on the income you passed through.          You must use Illinois Schedule B to supply us with a listing of your 
Your shareholders may claim a credit on their Illinois Income Tax         shareholders, certain items of income and credits they received 
return for pass-through withholding you reported and paid on their        from you, and pass-through withholding or PTE tax credit. You must 
behalf.                                                                   complete all lines of Illinois Schedule B, as applicable, and file it with 
S corporations can both make and receive pass-through withholding.        your Form IL-1120-ST.
• Pass-through withholding you owe on behalf of your                      What if I am a member of a unitary group?
  members is a payment of pass-through withholding you make               If an S corporation is 
  on behalf of your nonresident shareholders who have not 
                                                                          •    unitary with a combined group and uses the same taxable 
  submitted Form IL-1000-E to you. This amount will be reported 
                                                                              year as the combined group, it should use the Schedule UB, 
  on Form IL-1120-ST, Line 59.
                                                                              Combined Apportionment for Unitary Business Group, prepared 
• Pass-through withholding reported to you is a credit for                    by the combined group in completing its Form IL-1120-ST; 
  pass-through withholding you receive on Schedules K-1-P and 
                                                                          •    unitary with a combined group, but it uses a different taxable 
  K-1-T as a partner, shareholder, or beneficiary of a pass-through 
                                                                              year, it must complete a Schedule UB using its own taxable 
  entity. This amount will be reported on Form IL-1120-ST, 
                                                                              year; or,
  Line 65c. 
                                                                          •    not unitary with a group filing a combined return, it must 
If you are a nonresident and the pass-through withholding reported to 
                                                                              complete its own Schedule UB using its own taxable year.
you satisfies your Illinois Income Tax liability, you are not required to 
file an Illinois Income Tax return. If you had Illinois income from other Unitary members that are S corporations can use the line reference 
sources and the pass-through withholding made on your behalf does         chart in the Schedule UB instructions to help complete Form 
not cover your liability, you must file a return to report the tax on all IL-1120-ST.
of your Illinois income and claim a credit for pass-through withholding   Steps 2 and 3 of each separately filed Form IL-1120-ST must be
made on your behalf.                                                      completed showing only the S corporation’s separate-company 
All residents and pass-through entities must file their own annual        items. The amounts on each member’s Form IL-1120-ST, Lines 14 
Illinois Income Tax return to claim a credit for any pass-through         through 21 (less Line 20) and Lines 23 through 33 (less Line 24), 
withholding reported to them.                                             shall be the combined totals shown on Schedule UB, Step 3, 
                                                                          Column E.
What does taxable in other states mean?                                        The modifications for Form IL-1120-ST Lines 20 and 24 are 
Taxable in other states means you are subject to and pay “tax” in         not included as modifications on the Schedule UB. The amount on 
another state. “Tax” includes net income tax, franchise tax measured      Form IL-1120-ST, Lines 20 or 24 must be computed on the Illinois 
by net income, franchise tax for the privilege of doing business,         Schedule B, Line E Worksheet, found in these instructions. Carry 
and corporate stock tax. You are considered taxable in another            the combined total amounts from Schedule UB, Step 3, Column E 
state if that state has jurisdiction to subject you to a net income tax,  for each line item of the Line E Worksheet. 
even though that state does not impose such a tax. This definition 
                                                                          Use the Line 20 and Line 24 amounts to compute the 
is for purposes of allocating nonbusiness income and apportioning 
business income inside or outside Illinois.                               S corporation’s base income on Form IL-1120-ST, Step 5, Line 35. 
                                                                          Check the box on Form IL-1120-ST, Step 5, Line 35 B and complete 
When must I use Illinois Schedules K-1-P,                                 Form IL-1120-ST, Step 6 by subtracting 
K-1-P(3), and B?                                                          •   on Line 36, the combined nonbusiness income of the entire 
You must use Illinois Schedule K-1-P to supply each shareholder               unitary business group, minus the portion allocable to 
with that individual’s or entity’s share of the amounts reported on           shareholders subject to replacement tax, and 
your federal and Illinois tax returns. For Illinois Income Tax purposes,  •    on Line 37, the amount received by the entire unitary business 
you must give a completed Illinois Schedule K-1-P and a copy of the           group from non-unitary partnerships, partnerships included on 
Illinois Schedule K-1-P(2), Partner’s and Shareholder’s Instructions,         the Schedule UB, S corporations, trusts, and estates, minus the 
to each shareholder. Do not file copies of Illinois Schedule K-1-P            portion allocable to shareholders subject to replacement tax. 
that you issue to your shareholders with your Form IL-1120-ST.            On Form IL-1120-ST, Step 6, Line 40, include the everywhere sales 
However, you must keep a copy of each Illinois Schedule K-1-P with        amount from Schedule UB, Step 4, Column D, Line 2. On Line 41 
your tax records. See Illinois Schedule K-1-P(1), Instructions for        of Step 6 of Form IL-1120-ST, include only the S corporation’s 
Partnerships and S Corporations Completing Schedule K-1-P and             Illinois sales. On Form IL-1120-ST, Step 6, Lines 44 and 45, 
Schedule K-1-P(3), for more information.                                  include only the nonbusiness income of the S corporation, and 

IL-1120-ST Instructions (R-12/22)                                                                                                   Page 5 of 27

the business income or loss apportionable to Illinois received by     What if I need additional assistance or forms?
the S corporation from trusts, estates, non-unitary partnerships,     •    Visit our website at tax.illinois.gov for assistance, forms or 
partnerships included on the Schedule UB, and S corporations              schedules.
minus the portion of those amounts allocable to shareholders 
subject to replacement tax.                                           •    Write us at: 
                                                                                ILLINOIS DEPARTMENT OF REVENUE
Schedules used to compute any amounts shown must be attached                    PO BOX 19001
to Form IL-1120-ST.                                                             SPRINGFIELD IL  62794-9001
If you need more information, visit our website at tax.illinois.gov   •    Call 1 800 732-8866 or 217 782-3336 (TDD, telecommunications 
and view the Illinois Income Tax Regulations referenced in these          device for the deaf, at 1 800 544-5304).
and the Schedule UB instructions. 
                                                                      •    Visit a taxpayer assistance office - 8:00 a.m. to 5:00 p.m. 
What if I participated in a reportable                                    (Springfield office) and 8:30 a.m. to 5:00 p.m. (all other offices), 
transaction?                                                              Monday through Friday. 
If you participated in a reportable transaction, including a “listed  Where should I file?
transaction,” during this tax year and were required to disclose      If a payment is enclosed with your return, mail your Form IL-1120-ST 
that transaction to the IRS, you are also required to disclose that   to:
information to Illinois. You must send us two copies of the form you  ILLINOIS DEPARTMENT OF REVENUE
used to disclose the transaction to the IRS.                          PO BOX 19053
• Mail the first copy of the federal disclosure statement to:         SPRINGFIELD IL  62794-9053
  ILLINOIS DEPARTMENT OF REVENUE                                      If a payment is not enclosed, mail your Form IL-1120-ST to: 
    PO BOX 19029                                                      ILLINOIS DEPARTMENT OF REVENUE 
     SPRINGFIELD IL  62794-9029                                       PO BOX 19032
•   Attach the second copy to your Illinois Income Tax return for the SPRINGFIELD IL  62794-9032
  tax year that the IRS disclosure was required. Mail the second      Specific instructions for most of the lines are included. If a specific 
  copy and your Illinois Income Tax return to the address shown       line is not referenced, follow the instructions on the form. 
  on your return. Do not mail the second copy and your Illinois 
  Income Tax return to the address listed above. 

Page 6 of 27                                                                                                     IL-1120-ST Instructions (R-12/22) 

                                             Specific Instructions
Step 1 — Identify your small business                                       P — Enter your North American Industry Classification System 
                                                                            (NAICS) Code. If you are unsure of your code, you can research the 
corporation                                                                 information at www.census.gov/naics or www.irs.gov. 
A — All taxpayers: Type or print your legal business name. If you 
                                                                            Q — Enter your Illinois corporate file (charter) number assigned to 
have a name change from last year, check the corresponding box.
                                                                            you by the Illinois Secretary of State.
B — Type or print your mailing address. If your address has changed 
                                                                            R — If you keep your accounting records in a location different from 
since you filed your last return or if this is your first return, check the 
                                                                            the address indicated on Line B, enter the city, the two-letter state 
box.
                                                                            abbreviation, and the ZIP Code for the location the records are kept.
          If you checked the box in Line B because you have never 
                                                                            S — If you are making the election to treat all of your income other 
filed an Illinois return, you must also check the “first return” box in 
                                                                            than compensation as business income for this tax year, you must 
Line C. 
                                                                            check the box on this line and enter zero on Step 6, Lines 36 and 
C — If this is your first or final return, check the appropriate box and    44. This election must be made by the extended due date of this 
the box on Line 68 if you have a credit carry forward on your final         return. Once made, the election is irrevocable. 
return. 
                                                                            T — If you are required to disclose reportable transactions and 
D — If you checked final return on Line C, answer the questions on          you have completed U.S. Form 8886 or U.S. Schedule M-3, Part II, 
Line D, if applicable.                                                      Line 10, check the appropriate box and attach a copy of the federal 
E — Apportionment Formulas - If you earn income both inside                 form or schedule to this return. See “What if I participated in a 
and outside of Illinois, check the appropriate box(es). If you are a        reportable transaction?” for more information.
unitary business group, check as many boxes as applicable. If more          U — Check the box if you must adjust your loss or loss carryover 
than one box is checked, you must complete a Subgroup Schedule              due to Discharge of Indebtedness. For more information, see the 
for each checked box that is not a sales company. If you earn income        instructions for Line 48 and the Loss Reduction Worksheet on 
only inside Illinois, leave this line blank. For more information, see      Page 10 of these instructions and Schedule NLD instructions.
the specific instructions for “Apportionment Formulas.”
                                                                            V — Check this box only if you have sales into Illinois and you 
F — If you are claiming a special depreciation addition or subtraction      are not required to allocate them because you are protected 
modifications on Form IL-1120-ST, check the box and attach                  by Public Law 86-272. Complete Steps 1 through 7 of your 
Form IL-4562, Special Depreciation, to your tax return.                     Form IL-1120-ST. 
G — If you are claiming other addition or subtraction modifications               You must complete an IDOR-issued or previously 
on Form IL-1120-ST, check the box and attach Schedule M, Other              approved Form IL-1120-ST and corresponding schedules. Do 
Additions and Subtractions (for businesses), to your tax return.            not send a computer printout or spreadsheets with line numbers and 
H — If you are claiming related-party expenses modifications on             dollar amounts attached to a blank copy of the return.
your Form IL-1120-ST, check the box and attach Schedule 80/20, 
Related-Party Expenses, to your tax return.                                 Step 2 — Figure your ordinary income or loss
I — Check the box if you are claiming deductions or credits listed on             If you are a member of a unitary group, enter the figures 
Illinois Schedule 1299-A, Tax Subtractions and Credits. You must            on each line of Step 2 that reflect your separate company income. 
check the box and attach Illinois Schedule 1299-A and any other             See “What if I am a member of a unitary group?” in the General 
required support listed on Schedule 1299-A to your tax return to            Instructions.
support any deductions or credits you are claiming or passing to your       Lines 1 through 5 — Enter the amount for each line item 
shareholders.                                                               from the corresponding line(s) on your U.S. Form 1120S, 
J — If you are a unitary business group and completed                       Schedule K. Attach a copy of your federal return. See the chart below 
Subgroup Schedule, check this box and attach Subgroup Schedule.             to determine the correct corresponding lines.
See Subgroup Schedule and Schedule UB Instructions for more 
                                                                                                                   U.S. Form 1120S,
information.                                                                     Form IL-1120-ST
                                                                                                                          Schedule K
K — Check this box if you are a 52/53-week filer. A 52/53-week 
filer is a fiscal filer with a tax year that varies from 52 to 53 weeks                  Line 1                           Line 1
because their tax year ends on the same day of the week instead of                       Line 2                           Line 2
the last day of the month. 
                                                                                         Line 3                           Line 3c
L — Check this box if you elect to pay PTE tax in an amount equal to 
4.95 percent (0.0495) of the taxpayer’s calculated net income for the                    Line 4                    Lines 4, 5a, 6, 7, 8a
taxable year on Line 61.                                                                 Line 5                           Line 9
M — Check this box if you are paying Pass-through Entity                              Under federal law, Paycheck Protection Program (PPP) 
(PTE) Tax and you annualized your income on Form IL-2220,                   loan forgiveness is not considered taxable income and the business 
Computation of Penalties for Businesses. Attach Form IL-2220.               expenses covered by the PPP loan proceeds are deductible 
N — Enter your entire federal employer identification number (FEIN).        business expenses. Currently, Illinois tax law has no addition 
A partial FEIN will delay the processing of your return.                    modification to change this; therefore, the same treatment flows 
                                                                            through to the Illinois return and is included as part of federal taxable 
O — If you are a member of a group filing as a unitary business,            income. 
check the box and enter the FEIN of the member who prepared                          Include any items of income or loss from 
                                                                            Line 6 — 
Illinois Schedule UB, Combined Apportionment for Unitary Business           U.S. Form 1120S, Schedule K, that are not included on any other line 
Group. Attach Schedule UB to this return.                                   of Step 2 or Step 3 of this Form IL-1120-ST. 

IL-1120-ST Instructions (R-12/22)                                                                                                 Page 7 of 27

Step 3 — Figure your unmodified base income                               Line 17 — Enter the addition amount calculated on 
                                                                          Form IL-4562, Step 2, Line 4. For more information, see 
or loss
                                                                          Form IL-4562, Special Depreciation, and Instructions. Attach 
 If you are a member of a unitary group, enter the figures                Form IL-4562 to your Form IL-1120-ST.
on each line of Step 3 that reflects your separate company income. 
See “What if I am a member of a unitary group?” in the General            Line 18 — Enter the interest or intangible expenses paid to an 
Instructions.                                                             80/20 company, to the extent these expenses exceed any taxable 
                                                                          dividends you received from the affiliated company. To compute the 
Lines 8 through 10 — Enter the amount for each line item from             amount of this addition, complete Step 2 of Illinois Schedule 80/20 
the corresponding line on your U.S. Form 1120S, Schedule K. See           and enter on Line 18 the total from Illinois Schedule 80/20, 
the chart on this page to determine the correct corresponding lines.      Related-Party Expenses, Step 2, Line 9. Attach Illinois 
                                    U.S. Form 1120S,                      Schedule 80/20 to your Form IL-1120-ST.
Form IL-1120-ST                                                           Some interest and intangible expenses may be exempt from this 
                                       Schedule K
                                                                          add-back provision. See Illinois Schedule 80/20 Instructions for more 
              Line 8                   Line 12a
                                                                          information including definitions of “affiliated company,” “intangible 
              Line 9                     Line 11                          expenses,” and “intangible assets.”
              Line 10                  Line 12b                           Line 19 — If you are a partner in a partnership, a shareholder in 
Line 11 — Include any items of expense                                    an S corporation, or a beneficiary of a trust or an estate, include 
                                                                          your distributive share of additions received from the partnership, 
•  you are required to state separately to your shareholders, rather 
                                                                          S corporation, trust or estate on Schedules K-1-P or K-1-T. If 
than include in ordinary income, and
                                                                          you receive multiple schedules because you are a recipient from 
•  that would be taken into account by an individual in computing his     multiple entities, you should enter the combined total of Step 5, 
or her taxable income, and                                                Column A, Lines 32 through 37, from all Illinois Schedules K-1-P 
•  that are not included on any other line of Step 2 or Step 3 of this    you receive and Step 5, Column A, Lines 30 through 35, from 
Form IL-1120-ST.                                                          all Illinois Schedules K-1-T you receive. Attach a copy of all 
Do not include any of the following items on this line:                   Illinois Schedules K-1-P and K-1-T you received to your 
                                                                          Form IL-1120-ST.
•  net operating loss carryovers;
                                                                                  The partnership or S corporation is required to send you an 
•  any qualified business income deduction allowed under IRC              Illinois Schedule K-1-P and the trust or the estate is required to send 
Section 199A; or                                                          you an Illinois Schedule K-1-T, specifically identifying your share of 
•  any depletion amounts allowed federally on your oil and gas            income.
properties; and                                                                      Include only additions reported to you on the 
•  any excess business interest expense under IRC Section 163(j).         Schedule(s) K-1-P or K-1-T you received from a pass-through entity 
Line 13 — This is your total unmodified base income or loss.              in which you are an investing partner or shareholder or a beneficiary. 
 If you are a member of a unitary group this amount                       Do not attach copies of Schedules K-1-P you issued to your 
should reflect your separate company income as shown on the               partners or shareholders. You should keep copies of these schedules 
corresponding column of Schedule UB, Step 2, Column A, B, or C,           in your records.
Line 30.                                                                  Line 20 — Complete Illinois Schedule B. Illinois Schedule B, 
                                                                          Section A, Line 3 represents the share of distributable income or 
Step 4 — Figure your income or loss                                       loss that is to be added to or subtracted from base income. If the 
 If you are a member of a unitary group, see “What if I am                total amount on Illinois Schedule B, Section A, Line 3 is a negative 
a member of a unitary group?” in the General Instructions, and the        amount (loss), it should be entered on Line 20 as a positive amount. 
instructions for Line 14, below.                                          See the Illinois Schedule B Instructions following these Specific 
Line 14 — Follow the instructions on the form.                            Instructions for more information. Attach Illinois Schedule B to 
                                                                          your Form IL-1120-ST. 
 If you are a member of a unitary group do not enter 
the amount from Form IL-1120-ST, Step 3, Line 13. Enter your              Line 21 — Enter the addition amount calculated on Illinois 
combined company income as shown on Schedule UB, Step 2,                  Schedule M, Other Additions and Subtractions (for businesses), 
Column E, Line 30.                                                        Step 2, Line 11. Attach a copy of Illinois Schedule M to your 
                                                                          Form IL-1120-ST. The following are examples of items that must be 
 Do not enter negative amounts on Lines 15 through 21.                    added to taxable income and are included on Illinois Schedule M.
Line 15 — Enter the total of all amounts excluded from unmodified         •  Notes, bonds, debentures, or obligations issued by the 
base income that were received or accrued as federally tax-exempt         Governments of Guam, American Samoa, Puerto Rico, the 
interest (e.g. state, municipal and other interest) and all distributions Northern Mariana Islands, or the Virgin Islands. 
of exempt interest received from regulated investment companies 
during the tax year.                                                      •  Deductions you claimed this year and in your two most recent 
                                                                          tax years for expenses connected with income from an asset or 
Line 16 — You must add back any amount of Illinois Replacement            activity which were reported as business income in prior years 
taxes and surcharge that you deducted on your U.S. Form 1120S to          and as nonbusiness income on this return. See Illinois Schedule 
arrive at your ordinary business income. You are not required to add      NB, Nonbusiness Income, Line 11, and Illinois Schedule NB 
back taxes from other states taken as a federal deduction.                Instructions for more information.
An S corporation that elects to pay PTE tax must add back the 
amount of that tax deducted federally, in addition to the add back for 
replacement tax deducted.

Page 8 of 27                                                                                                           IL-1120-ST Instructions (R-12/22) 

Step 5 — Figure your base income or  loss                                         The partnership or S corporation is required to send you an 
                                                                          Illinois Schedule K-1-P and the trust or the estate is required to send 
Do not enter negative amounts on Lines 23 through 34. 
                                                                          you an Illinois Schedule K-1-T, specifically identifying your share of 
         A double deduction is prohibited by IITA, Section 203(g).        subtractions.
You cannot deduct the same item more than once.
                                                                                        Include only subtractions reported to you on the 
Line 23 — Enter the total interest received or accrued from               Schedule(s) K-1-P or K-1-T you received from a pass-through entity 
federal Treasury bonds, notes, bills, federal agency obligations,         in which you are an investing partner or shareholder or a beneficiary. 
and savings bonds included in ordinary business income. You may           Do not attach copies of Schedules K-1-P you issued to your 
not subtract anything that is not identified in Illinois Publication 101, partners or shareholders. You should keep copies of these schedules 
Income Exempt from Tax. This amount is net of any bond premium            in your records.
amortization deducted federally.
                                                                          Line 33 — Enter the subtraction amount calculated on Illinois 
Line 24 — Complete Illinois Schedule B. Illinois Schedule B,              Schedule M, Step 3, Line 36. Attach a copy of Illinois Schedule M 
Section A, Line 3 represents the share of distributable income or         to your Form IL-1120-ST.
loss that is to be added to or subtracted from base income. If the 
                                                                          You may not subtract anything that is not identified below, 
total amount on Illinois Schedule B, Section A, Line 3 is a positive 
                                                                          on Schedule M (for businesses), or in Illinois Publication 101. 
amount, enter that amount on Line 24. If the total amount on Illinois 
                                                                          Subtractions allowed on Illinois Schedule M include:
Schedule B, Section A, Line 3 is negative, leave Line 24 blank and 
see the instructions for Line 20. For more information, see the Illinois  •  notes, bonds, debentures, or obligations issued by the 
Schedule B Instructions following these Specific Instructions. Attach        Governments of Guam, American Samoa, Puerto Rico, the 
Illinois Schedule B to your Form IL-1120-ST.                                 Northern Mariana Islands, or the Virgin Islands, to the extent that 
                                                                             you were required to add these amounts to your federal ordinary 
Lines 25 through 29      —You must attach Illinois 
                                                                             income. 
Schedule 1299-A and any other required support listed on 
Schedule 1299-A to your Form IL-1120-ST if you have an amount             •  the refund of Illinois replacement tax for a prior year, to the extent 
on any of the following lines.                                               included in your federal ordinary income.
Line 25 — Enter the River Edge Redevelopment Zone Dividend                •  any other income included on Step 4, Line 22, exempt from 
subtraction from Illinois Schedule 1299-A, Step 1, Line 3.                   taxation by Illinois by reason of its Constitution or statutes or 
                                                                             by the Constitution, treaties, or statutes of the United States. 
Line 26 — For financial organizations only — Enter the 
                                                                             This amount is net of any bond premium amortization deducted 
River Edge Redevelopment Zone Interest subtraction from Illinois 
                                                                             federally. For more information, see Illinois Publication 101.
Schedule 1299-A, Step 1, Line 12. 
                                                                          •  the amount equal to the deduction used to compute the federal 
Line 27 — Enter the High Impact Business Dividend subtraction 
                                                                             tax credit for restoration of amounts held under claim of right 
from Illinois Schedule 1299-A, Step 1, Line 6. 
                                                                             under IRC Section 1341.
Line 28 — For financial organizations only — Enter the High 
                                                                          •  the deductions for “foreign dividend gross-up (IRC Section 78),” 
Impact Business within a Foreign Trade Zone (or sub-zone) Interest 
                                                                             “subpart F income,” or foreign dividends which are allowed as 
subtraction from Illinois Schedule 1299-A, Step 1, Line 15. 
                                                                             a subtraction modification under IITA, Sections 203(b)(2)(G) 
Line 29 — Enter the amount of any Contribution subtraction from              and 203(b)(2)(O). You must provide supporting attachments 
Illinois Schedule 1299-A, Step 1, Line 9.                                    clearly identifying each item taken as a subtraction.
Line 30 — Enter the subtraction allowance from Form IL-4562,              •  contributions you made under the Tax Increment Allocation 
Step 3, Line 13. Attach Form IL-4562 to your Form IL-1120-ST.                Redevelopment Act to a job training project. For more information, 
Line 31 — Enter the amount from Illinois Schedule 80/20, Step 4,             see FY Bulletin 1990-40.
Line 23. Attach Illinois Schedule 80/20 to your Form IL-1120-ST.          Line 35 — This is your base income or loss. 
You should use Illinois Schedule 80/20 if                                 Follow the instructions on the form and check a box on Line A or B. 
•   you added back interest paid to an affiliated company on Step 4,      You must check one of these boxes and follow the instructions for 
Line 18. You may subtract any interest received from that                 that line.
company during this tax year, up to the amount of your addition           Check the box on Line A if
for interest expense paid to that company. Also, if you added back 
                                                                          •  all of your base income or loss is derived inside Illinois; and
intangible expenses from a transaction with an affiliated company 
on Line 18, you may subtract any income you received during               •  you do not have any income or loss to report on Lines 36, 37, 44, 
the tax year from similar transactions with the affiliated company,          or 45.
up to the amount of your addition for intangible expense for that         If you check the box on Line A, do not complete Step 6. All of 
company. To compute the amount of this subtraction, complete              your base income or loss is allocable to Illinois. Skip Step 6, enter the 
Illinois Schedule 80/20.                                                  amount from Step 5, Line 35 on Step 7, Line 47, and complete the 
•  you are an affiliated company, and you received interest               remainder of the return.
or intangible income from someone who had to add back the                 Check the box on Line B if any of the following apply:
interest and intangible expense on their Illinois Schedule 80/20.         •  your base income or loss is derived inside and outside Illinois; 
You may subtract your interest or intangible income from that 
person.                                                                   •  all of your base income or loss is derived outside Illinois; or
Line 32 — Enter your distributive share of subtractions passed            •  you have income or loss to report on Lines 36, 37, 44, or 45.
through to you by a partnership, S corporation, trust, or estate on       If you check the box on Line B, you must complete all lines of 
Schedule(s) K-1-P, Partner’s or Shareholder’s Share of Income,            Step 6. Submitting Form IL-1120-ST with an incomplete Step 6, 
Deductions, Credits, and Recapture, or K-1-T, Beneficiary’s Share         including Lines 40, 41, and 42 may result in a delay in processing 
of Income and Deductions. Do not include any amounts passed               your return, further correspondence, and you may be required to 
through that are reflected on Illinois Schedule 1299-A. Attach a copy     submit further information to support your filing. See the Specific 
of all Illinois Schedules K-1-P and K-1-T you received to your            Instructions for Step 6 for more information.
Form IL-1120-ST.
IL-1120-ST Instructions (R-12/22)                                                                                                 Page 9 of 27

Step 6 — Figure your income allocable to                                            If you are a partner engaged in a unitary business 
                                                                        with your partnership, you must include your distributable share of 
Illinois                                                                the partnership’s business income in your business income. Do not 
You must check the box on Line B and complete all lines of Step         subtract this business income on Line 37.
6 if any portion of Line 35, base income or loss, is derived outside    Lines 40 through 42 — 
Illinois, or you have any income or loss to report on Lines 36, 37, 44, 
or 45.                                                                  You must complete Lines 40 through 42 if any of the following apply: 
If you do not complete all of Step 6, Lines 36 through 46, we may       •  your business income or loss is derived inside and outside Illinois;
issue a notice and demand proposing 100 percent of income as            •  all of your business income or loss is derived outside Illinois; or
being allocable to Illinois, or in the case of a loss return, a notice  •   you have income or loss to report on Lines 36, 37, 44, or 45.
indicating none of your loss as being allocated to Illinois.            Follow specific instructions below for Lines 40 through 42. 
In order to properly allocate your base income or loss you need to                 If you are a financial organization, transportation 
determine what portion of the total base income is business income      company, sales company, or federally regulated exchange, check 
or loss that is to be apportioned among all the states in which you do  the appropriate box in Step 1, Line E (financial organization, 
business, and what portion is nonbusiness income or loss that is to     transportation company, sales company, or federally regulated 
be allocated to a particular state.                                     exchange) and see “Apportionment Formulas” in these instructions.
        Unitary filers - You must complete both Step 4 of the                       If you are a partner engaged in a unitary business 
Schedule UB and Step 6 of the Form IL-1120-ST.                          with your partnership, you must include your distributive share of the 
                                                                        “everywhere” and “Illinois” sales factors from the partnership in your 
              Line by Line Instructions
                                                                        “everywhere” and “Illinois” sales factors. For more information, see 
        You must complete all lines of Step 6.                          86 Ill. Adm. Code Section 100.3380(d).
Line 36 — Enter the amount of all nonbusiness income or loss            Line 40 — Enter your total sales everywhere. 
included in base income, net of any related deductions and any 
amount distributable to shareholders subject to replacement tax,        Line 41 — Enter your total sales inside Illinois. If you have no sales 
                                                                        in Illinois, enter zero.
from Illinois Schedule NB, Column A. Include any nonbusiness 
income you received from Illinois Schedules K-1-P or K-1-T                         Lines 40 and 41 cannot be less than zero. The amount on 
in the amounts reported on Schedule NB. Attach Illinois                 Line 41 cannot exceed the amount on Line 40. 
Schedule NB and all Illinois Schedules K-1-P or K-1-T you               Line 42 — Divide Line 41 by Line 40 and enter the result, 
received to your Form IL-1120-ST. If you do not have an amount to       rounded to six decimal places. The result cannot be greater than one 
report on this line, enter zero.                                        or less than zero.
        If you are making the election to treat all income other than              If you checked the box on Line 35B and do not complete 
compensation as business income for this tax year, you must check       Lines 40, 41, and 42 we may issue a notice and demand proposing 
the box in Step 1, Line S, and enter zero here and on Line 44. This     100 percent of your income as being allocated to Illinois, or in the 
election must be made by the extended due date of this return.          case of a loss return, a notice indicating none of your loss as being 
Once made, the election is irrevocable.                                 allocated to Illinois. 
Line 37 — Enter the amount of all business income or loss               Line 44 — Enter the amount of nonbusiness income or loss 
included in base income received from any non-unitary partnership,      allocable to Illinois from Illinois Schedule NB, Column B. Include 
partnership included on a Schedule UB, S corporation, trust, or         any nonbusiness income you received from Illinois Schedules K-1-P 
estate of which you are a partner or a beneficiary, net of any amount   or K-1-T in the amounts reported on Schedule NB. This amount is 
distributable to shareholders subject to replacement tax. See Illinois  net of the portion of your Illinois nonbusiness income distributable 
Schedule K-1-P(2), Partner’s and Shareholder’s Instructions, or         to shareholders subject to replacement tax. Attach a copy of 
Schedule K-1-T(2), Beneficiary’s Instructions for more information.     Schedule NB and all Illinois Schedules K-1-P and K-1-T you 
Attach a copy of all Illinois Schedules K-1-P and K-1-T you             received to your Form IL-1120-ST. If you do not have an amount to 
received to your Form IL-1120-ST. If you do not have an amount to       report on this line, enter zero.
report on this line, enter zero.                                                   If you checked the box in Step 1, Line S, making the election 
        The partnership or S corporation is required to send you        to treat all of your income other than compensation as business 
an Illinois Schedule K-1-P and Schedules K-1-P(2) and the trust or      income, then enter zero on Line 44. 
the estate is required to send you an Illinois Schedule K-1-T and 
K-1-T(2) specifically identifying your share of income.

                                               Loss Reduction Worksheet 
  1   Enter the amount of the reduction to your federal net operating losses                                                                  
    from U.S. Form 982.                                                                                 1   _________________ 
  2   Enter your income allocation ratio. See instructions.                                             2   _________________ 
   3   Multiply the amount on Line 1 by Line 2. This is your reduction amount. 
    Enter the result here and on Form IL-1120-ST, Line 48.                                              3   _________________ 
    Line 2 — Your income allocation ratio is calculated by dividing the amount of debt cancellation income excluded from your gross income 
    that would have been allocated or apportioned to Illinois under the IITA if it was not excluded by the total amount of debt cancellation 
    income excluded from your gross income. If all of your debt cancellation income would have been business income, use the apportionment 
    factor you calculated on the return for the tax year of the debt cancellation.

Page 10 of 27                                                                                                    IL-1120-ST Instructions (R-12/22) 

Line 45 — Enter the amount of the income or loss reported on              If any of the loss being claimed on Line 50, originated from a 
Step 6, Line 37 that is apportionable to Illinois as reported by the      company other than the one filing this return, check the box on 
non-unitary partnership, partnership included on a Schedule UB,           Line 50 and attach a detailed statement to your return with
trust, or estate on Illinois Schedules K-1-P or K-1-T, net of the portion • the FEIN of the company from which you acquired the loss, 
distributable to shareholders subject to replacement tax. See Illinois    • the reason (e.g., merger) you are allowed to use that company’s 
Schedules K-1-P(2) or K-1-T(2) for more information. Attach a copy          losses, and 
of all Illinois Schedules K-1-P and K-1-T you received to your 
Form IL-1120-ST. If you do not have an amount to report on this line,     • the date you acquired the loss.
enter zero.                                                                     For more information, see the Schedule NLD instructions. 
Step 7 — Figure your net income
                                                                          Step 8 — Figure the taxes, surcharges, pass-
Line 47 — Follow the instructions on the form. If this amount is 
                                                                          through withholding, and penalty you owe
a loss, you may be allowed to carry it forward to other years as an 
Illinois net loss deduction (NLD).                                        Line 52 — Follow the instructions on the form. 
Line 48 — If the amount on Line 47 is a loss, and you                     Line 53 — Enter your recapture of investment credits from Illinois 
were required to reduce the net operating loss reported on                Schedule 4255, Recapture of Investment Tax Credits, Step 5, 
your U.S. Form 1120S because you excluded any discharge of                Column D, Line 20.
indebtedness income from this tax year’s gross income, then you           If you claimed an Illinois investment tax credit in a prior year on 
may be required to reduce the net loss reported on Line 47. Use           Form IL-477, Replacement Tax Investment Credits, and any of 
the Loss Reduction Worksheet on Page 10 to figure your loss               the property was disqualified within 48 months of being placed in 
reduction. Attach a copy of your U.S. Form 982, Reduction of              service, you must use Illinois Schedule 4255 to compute the amount 
Tax Attributes Due to Discharge of Indebtedness, and a detailed           of recapture. Credit must be recaptured in the year the property 
statement, including the amounts and tax year, of the debt                became disqualified.
and reason for reduction to your Form IL-1120-ST. For more                Line 55 — Enter the amount from Form IL-477, Step 1, Line 13. 
information, see 86 Ill. Adm. Code Section 100.2310(c).                   Attach Form IL-477 and any other required support listed on 
Line 49 — If you have a discharge of indebtedness adjustment              Form IL-477 to your Form IL-1120-ST.
on Line 48, add lines 47 (a negative number) and 48 (a positive           You may claim a replacement tax investment credit of .5 percent 
number), and enter the result here. This amount cannot be greater         (.005) of the basis of qualified property placed in service in Illinois 
than zero. If you do not have a discharge of indebtedness                 during the tax year.
adjustment, enter zero on Line 48 and the amount from Line 47 on 
Line 49.                                                                  An additional credit of up to .5 percent (.005) of the basis of qualified 
                                                                          property is available if your Illinois base employment increased by 
Line 50 — Enter your Illinois net loss deduction carryforward             1 percent (.01) or more over the preceding year or if your business 
as determined on Illinois Schedule NLD, Step 1, Line 7, total box.        is new to Illinois. Excess credit may be carried forward for five 
Attach Illinois Schedule NLD to your Form IL-1120-ST.                     years following the excess credit year. For more information, see 
If you are a cooperative and you separate your patronage and              Form IL-477 Instructions.
nonpatronage income or loss, complete Schedule INL, Illinois Net          Line 57 — Compassionate Use of Medical Cannabis Program Act 
Loss Adjustments for Cooperatives and REMIC Owners, and follow            surcharge. 
the instructions for computation of your Illinois net loss deduction.

                                           Surcharge Worksheet for IL-1120-ST
Instructions:  Complete the appropriate column for the surcharge(s)                           A                             B
                      you are claiming.                                              Compassionate Use             Sale of assets
                                                                                     of Medical Cannabis                 by gaming
                                                                                        Program Act                      licensee

1   Enter your federal income tax liability for the taxable year.                    1  ______________              1  ______________
2  Enter your federal income tax liability for the taxable year computed 
  as if “transactions subject to the surcharge” made in that year had not 
  been made by the organization registrant in Column A or a gaming 
  licensee in Column B.                                                              2  ______________               2  ______________
3  Subtract Line 2 from Line 1. Enter the result here.  
  Enter the Column A total on Form IL-1120-ST, Step 8, Line 57 and the 
  Column B total on Form IL-1120-ST, Step 8, Line 58.                                3  ______________              3  ______________
Line 1 — Members of consolidated groups must enter the consolidated federal income tax liability of the affiliated group for the taxable 
year.
Line 2 — Members of consolidated groups must enter the federal income tax liability of the affiliated group for the taxable year computed 
as if the transactions subject to surcharge for which taxable income or gain was recognized in that taxable year had not been made. 

IL-1120-ST Instructions (R-12/22)                                                                                            Page 11 of 27

                              Definitions                                  The amount of the surcharge is equal to the amount of taxable gains 
Organization registrantmeans a corporation, partnership, trust,            tax liability for the taxable year attributable to the transactions subject 
limited liability company (LLC), or other organization, that holds         to the surcharge.
either a medical cannabis cultivation center registration issued by the                  To whom does the surcharge apply?
Illinois Department of Agriculture or a medical cannabis dispensary        The surcharge is imposed on any taxpayer who incurs a federal 
registration issued by the Illinois Department of Financial and            income tax liability on the income realized on a “transaction subject 
Professional Regulation.                                                   to the surcharge,” including individuals and other taxpayers who 
Transactions subject to the surchargemeans sales and                       are not themselves the “gaming licensee” that engaged in the 
exchanges of                                                               transaction.
   •          capital assets;                                              The surcharge imposed shall not apply if 
   •          depreciable business property;                               •   the organization gaming license, organization license, or 
   •          real property used in the trade or business; and                 racetrack property is transferred as a result of any of the 
                                                                               following:
   •          Section 197 intangibles of an organization registrant.
                                                                               •   bankruptcy, a receivership, or a debt adjustment initiated by 
                                                                                   or against the initial licensee or the substantial owners of 
               What is the surcharge?                                              the initial licensee;
For each taxable year beginning or ending during the Compassionate             •   cancellation, revocation, or termination of any such license 
Use of Medical Cannabis Program, a surcharge is imposed on all                     by the Illinois Gaming Board or the Illinois Racing Board;
taxpayers on income arising from the transactions subject to the 
                                                                               •   a determination by the Illinois Gaming Board that transfer of 
surcharge of an organization registrant under the Compassionate 
                                                                                   the license is in the best interests of Illinois gaming;
Use of Medical Cannabis Program Act. 
                                                                               •   the death of an owner of the equity interest in a licensee;
The amount of the surcharge is equal to the amount of federal 
income tax liability for the taxable year attributable to the transactions     •   acquisition of a controlling interest in the stock or 
subject to the surcharge. For an S corporation, this would be a tax on             substantially all of the assets of a publicly traded company;
built-in gain realized on the transaction.                                     •   a transfer by a parent company to a wholly owned 
              To whom does the surcharge apply?                                    subsidiary;
The surcharge is imposed on any taxpayer who incurs a federal                  •   the transfer or sale to or by one person to another person 
income tax liability on the income realized on a “transaction subject              where both persons were initial owners of the license when 
to the surcharge,” including individuals and other taxpayers who                   the license was issued; or
are not themselves the “organization registrant” that engaged in the       •   the controlling interest in the organization gaming license, 
transaction.                                                                   organization license, or racetrack property is transferred in a 
A line has been included on Schedules K-1-P and K-1-T to identify              transaction to lineal descendants in which no gain or loss is 
the amount of taxable gains attributable to transactions subject to the        recognized or as a result of a transaction in accordance with 
surcharge that was passed through to you on U.S. Schedule K-1.                 Section 351 of the Internal Revenue Code in which no gain or 
                                                                               loss is recognized; or 
    Although a unitary business group filing combined Illinois 
returns is treated as a single taxpayer and its members are jointly        •   live horse racing was not conducted in 2010 at a racetrack 
and severally liable for any surcharge imposed on the group, the               located within 3 miles of the Mississippi River under a license 
group itself is not an organization registrant and transactions of any         issued pursuant to the Illinois Horse Racing Act of 1975.
member that is not itself an organization registrant are not subject to    The transfer of an organization gaming license, organization license, 
the surcharge.                                                             or racetrack property by a person other than the initial licensee to 
               How do I figure the surcharge?                              receive the organization gaming license is not subject to a surcharge. 
If the surcharge applies to you, complete the Surcharge Worksheet          A line has been included on Schedule K-1-P and Schedule 
on Page 11.                                                                K-1-T, to identify the amount of federal income attributable to 
                                                                           transactions subject to the surcharge that was passed through to you 
For more information, see 86 Ill. Adm. Code Section 100.2060.
                                                                           on U.S. Schedule K-1.
Line 58 — Sale of assets by gaming licensee surcharge
                                                                                    Although a unitary business group filing combined Illinois 
                              Definitions                                  returns is treated as a single taxpayer and its members are jointly 
Gaming licensee is an organization licensee under the Illinois Horse       and severally liable for any surcharge imposed on the group, the 
Racing Act of 1975 and/or an organization gaming licensee under            group itself is not a gaming licensee and transactions of any member 
the Illinois Gambling Act.                                                 that is not itself a gaming licensee are not subject to the surcharge.
Transactions subject to the surcharge means sales and                                        How do I figure the surcharge?
exchanges of                                                               If the surcharge applies to you, complete the Surcharge Worksheet 
   •          capital assets;                                              on Page 11.
   •          depreciable business property;                               Line 59 — Complete all sections of Illinois Schedule B and 
   •          real property used in the trade or business; and             enter the amount from Illinois Schedule B, Section A, Line 5 on 
                                                                           this line. This is the amount of pass-through withholding you owe 
   •          Section 197 intangibles of a gaming licensee.                on behalf of your members. Attach Illinois Schedule B to your 
               What is the surcharge?                                      Form IL-1120-ST. See “Definitions to help you complete your 
For each taxable year 2019 through 2027, a surcharge is imposed on         Form IL-1120-ST” in these instructions for more information.
all taxpayers on income arising from the transactions subject to the                Do not include any amount from Schedule B, Section B, 
surcharge of a gaming licensee.                                            Line K, PTE tax credit paid to members, or Line L, PTE tax credit 
                                                                           received and distributed to members. 

Page 12 of 27                                                                                                              IL-1120-ST Instructions (R-12/22) 

  PTE Income Worksheet
  1   Base Income from Line 35.                                                                                 1                   00 
  2   Amount from Line 24.                                                                                      2                   00      
  3   PTE base income. Add Lines 1 and 2.                                                                       3                   00
  4   Nonbusiness income or loss.                                                                               4                   00                              
  5   Business income or loss included in Line 3 from non-unitary partnerships, partnerships 
      included on a Schedule UB, S corporations, trusts, or estates.                                            5                   00                              
  6   Add Lines 4 and 5.                                                                                        6                   00                              
  7   Business income or loss. Subtract Line 6 from Line 3.                                                     7                   00                              
  8   Total sales everywhere. This amount cannot be negative.             8                      00                             
  9   Total sales inside Illinois. This amount cannot be negative.        9                      00                             
 10   Divide Line 9 by Line 8. Round to six decimal places.               10                          
 11   Business income or loss apportionable to Illinois. Multiply Line 7 by Line 10.                   11                           00                              
 12   Nonbusiness income or loss allocable to Illinois.                                                12                           00                              
 13   Business income or loss apportionable to Illinois from non-unitary partnerships, partnerships 
      included on a Schedule UB, S corporations, trusts, or estates.                                   13                           00           
 14   PTE Income. Add Lines 11 through 13. Enter this amount on Line 60.                               14                           00 

 PTE Worksheet Instructions
 Lines 1 through 3 — Follow the instructions on the worksheet. 
 Lines 4 and 12 — Complete a pro forma Illinois Schedule NB allocating nonbusiness income amounts to Illinois including the portion of 
 nonbusiness income or loss distributable to shareholders subject to replacement tax reported from Form IL-1120-ST, Lines 20 and 24.
 Line 5 through 11 — Follow the instructions for Form IL-1120-ST, Lines 37 through 43.  
 Line 13 — Follow the instructions for Form IL-1120-ST, Line 45, but do not include income from a partnership or S corporation that made 
 the PTE election.

       Do not include on Line 59 any pass-through withholding           Line 65a — Enter the sum of any overpayment from your prior 
reported to you on Schedule(s) K-1-P or K-1-T. Pass-through             year tax returns that you requested to be applied to this year’s tax 
withholding amounts reported to you are included on Step 9,             return. Take into account any correspondence we may have sent 
Line 65c.                                                               you that changed the amount of your credit carryforward from the 
                                                                        previous year. 
Line 60 —  Complete this line if you elect to pay PTE tax on your 
calculated base income. Follow the instructions on the PTE Income       Line 65b — Enter the sum of any
Worksheet on Page 13 to determine the amount to enter on this           • estimated payments or tax prepayments made before the date 
line. The total amount of PTE credit allocated to shareholders            this return was filed. 
cannot exceed the PTE liability reported and actually paid by the       • extension payments or other voluntary prepayments made 
S corporation.                                                            before the original due date of the return. 
Line 61 — Follow the instructions on the form. Do not include any       • payment made before the date this return is filed. 
PTE tax credit you received on Schedule(s) K-1-P or K-1-T on                         Enter the amount you wish to claim of Illinois 
                                                                        Line 65c — 
this line.                                                              pass-through withholding reported to you by partnerships, 
       If you complete Line 61, then Line 59 should be blank.           S corporations, or trusts on Schedule(s) K-1-P or K-1-T. If you have 
Line 63 — If you elected to pay PTE tax and your total tax liability is received more than one Schedule K-1-P or K-1-T, add the amounts 
$500 or more, enter the amount of any self-assessed underpayment        you wish to claim from all the schedules and enter the total here. 
of estimated tax penalty you figured on Form IL-2220, Penalty           Attach copies of the Schedules K-1-P and K-1-T you received 
Worksheet 1, Line 22.                                                   from the pass-through entities to your Form IL-1120-ST. 
If you annualized your income in Step 6 of Form IL-2220, be sure        Schedules K-1-P and K-1-T, Step 1, Line 3, must be completed 
to check the box in Step 1, Line M of this Form IL-1120-ST. Attach a    or the pass-through withholding reported on this line may not be 
completed Form IL-2220 to your Form IL-1120-ST.                         credited to your return. 
       If you do not need to annualize your income and do not           See “Definitions to help you complete your Form IL-1120-ST” in 
wish to complete Form IL-2220, we encourage you to let us figure        these instructions for more information.
your penalties and interest and send you a bill instead of determining        Do not include any pass-through withholding you owe on 
these amounts yourself. We will compute any penalty or interest due     behalf of your members on this line. Pass-through withholding you 
and notify you.                                                         owe on behalf of your members are included on Step 8, Line 59.
Step 9 — Figure your refund or balance due                              Line 65d — Enter the amount of any Illinois gambling and 
                                                                        sports wagering winnings withholding shown on Forms W-2G. 
       Do not include any PTE tax or PTE tax credit on                  Attach U.S. Forms W-2G.
Lines 65a through 65d. PTE tax is reported on Line 61 and PTE Tax 
credit is reported for each member on Schedule B, Section B, Line L. 

IL-1120-ST Instructions (R-12/22)                                                                                               Page 13 of 27

Line 68 — Enter the amount of overpayment you elect to be                     Example 2: You file your 2022 calendar-year return on or 
carried forward to your next tax year. Check the box on this line             before the extended due date of your return requesting $500 
if this is your final return and any remaining carryforward is being          be applied as a credit. Your overpayment includes payments 
transferred to another entity. Attach a detailed statement to your            of $400 you made before the original due date of your return, 
return listing the FEIN of the entity receiving the credit carryforward,      and a $100 payment you made on June 1, 2023. Your credit 
the date the credit was transferred, and the reason for the transfer.         of $400 will be considered to be paid on March 15, 2023. 
  Step 1, Line C, must also be completed if you are                           The remaining $100 credit will be considered to be paid on 
transferring an overpayment to another entity.                                June 1, 2023. 
Your credit carryforward will not be applied if you do not file a        ‰  after the extended due date of your return, your credit is 
processable return.                                                         considered to be paid on the date you filed the return on which 
                                                                            you made the election.
  Your credit carryforward may be reduced by us due to 
corrections we make to your return, or to satisfy any unpaid tax,             Example 3: You file your 2022 calendar-year return on 
penalty, and interest due for this year or any other year. If we reduce       December 1, 2023, requesting $500 be applied as a 
your credit carryforward, it may result in a late-payment penalty in a        credit. Your credit of $500 will be considered to be paid on 
subsequent year.                                                              December 1, 2023, because you filed your return after the 
                                                                              extended due date of your 2022 calendar-year return.
To which tax year will my credit apply?
                                                                               If you are filing your return after the extended due date, you 
If your 2022 return was filed                                            may only elect to claim an overpayment credit for payments received 
‰  on or before the original filing and payment due date of your         on or before the date you filed your return. Any payments made after 
 return, your credit will be applied to the next full tax year, unless   the date you filed that return can only be claimed as an overpayment 
 you elect to apply the credit to a different tax year.                  credit on a subsequent amended return.
 Example 1: You file your 2022 calendar-year return on                   May I apply my credit to a different tax year? 
 March 1, 2023, requesting to receive your overpayment as 
                                                                         Yes. If you wish to apply your credit to a tax year other than the one 
 a credit. March 1, 2023, falls before the original filing and 
                                                                         during which you file this return, you must submit a separate request 
 payment due date of the 2022 tax year (March 15, 2023, for 
                                                                         in writing to: 
 calendar-year filers). Your credit will be applied against your 
 2023 tax year liability.                                                ILLINOIS DEPARTMENT OF REVENUE
                                                                         PO BOX 19004
‰  after the original filing and payment due date of your return,        SPRINGFIELD IL 62794-9004
 your credit will be applied to the next full tax year in which timely 
                                                                               Submit your request at the time you file your return. Do not 
 payments can be made as of the date you are filing this return, 
                                                                         submit your return to this address.
 unless you elect to apply the credit to a different tax year. 
                                                                         Your request must include 
 Example 2: You file your 2022 calendar-year return on 
 August 4, 2023, requesting to receive your overpayment                  •  your name, 
 as a credit. August 4, 2023, is after the original filing and           •  your FEIN, 
 payment due date of the 2022 tax year (March 15, 2023                   •  the tax year of the return creating the overpayment, and
 for calendar-year filers), but is before the original filing and 
 payment due date of the 2023 tax year (March 15, 2024, for              •  the tax year you wish to have the credit apply.
 calendar-year filers). Your credit will be applied against your         If you do not follow these instructions, your election will be 
 2023 tax year liability.                                                considered invalid and we will not apply your credit as you requested.
 Example 3: You file your 2022 calendar-year return on                   If you submit a valid request, we will apply your credit as you 
 April 23, 2024, requesting to receive your overpayment                  requested and notify you. Once made, your election to change the 
 as a credit. April 23, 2024, is after the original filing and           tax year to which your credit will apply is irrevocable. Requests will 
 payment due date of the 2023 tax year (March 15, 2024,                  be worked in the order we receive them.
 for calendar-year filers), but is before the original filing and              You may only apply your credit to tax years occurring after 
 payment due date of the 2024 tax year (March 17, 2025, for              the year of the return creating the overpayment. If you request to 
 calendar-year filers). Your credit will be applied against your         apply more credit than our records show you have available, we 
 2024 tax year liability.                                                will apply the maximum amount available and notify you of the 
With what date will my credit apply against my                           difference.
tax liability?                                                           Line 69 — Follow the instructions on the form. Your refund will not 
If your 2022 return was filed                                            be issued if you do not file a processable return.
‰  on or before the extended due date of your return                           Your refund may be reduced by us to satisfy any unpaid tax, 
 (October 16, 2023, for calendar-year filers), your credit is            penalty, and interest due for this year or any other year. 
 considered to be paid on the original due date of this return           Line 70 — Direct deposit information.  
 (March 15, 2023, for calendar-year filers).                             If you choose to deposit your refund directly into your checking or 
 However, if all or a portion of your overpayment results from           savings account, you must 
 payments made after the original due date of this return, that          •  Enter your routing number.
 portion of your credit is considered to be paid on the date you           •  For a checking account, your routing number must be nine  
 made the payment.                                                          digits and the first two digits must be 01 through 12 or 21  
 Example 1: You file your 2022 calendar-year return on or                   through 32.
 before the extended due date of your return requesting $500                The sample check following these instructions has an          
 be applied as a credit. All of your payments are made before               example of a routing number.
 the original due date of your return. Your credit of $500 will be 
 considered to be paid on March 15, 2023. 

Page 14 of 27                                                                                                   IL-1120-ST Instructions (R-12/22) 

   •  For a savings account, you must contact your financial              Step 10 — Signature, date, and paid preparer’s 
    institution for your routing number.                                  information
•  Check the appropriate box to indicate whether you want your            You must sign and date your return. If you do not sign your return, 
   refund deposited into your checking or savings account.                it will not be considered filed and you may be subject to a nonfiler 
•  Enter your account number.                                             penalty.
   •  For a checking account, your account number may be up to            If you pay someone to prepare your return, the income tax return 
    17 digits.                                                            preparer must also sign and date the return, enter the preparer tax 
                                                                          identification number (PTIN) issued to them by the Internal Revenue 
    The sample check following these instructions has an                  Service, and provide their firm’s name, FEIN, address, and phone 
    example of an account number.                                         number.
   •  For a savings account, you must contact your financial              If you want to allow the paid preparer listed in this step to discuss 
    institution for your account number.                                  this return with IDOR, check the box. This authorization will allow 
Do not use your account and routing numbers from your checking            your paid preparer to answer any questions that arise during the 
or savings accountdeposit slip.Do not      include your check number.     processing of your return, call us with questions about your return, 
Include hyphens, but omit spaces and special symbols. You may             and receive or respond to notices we send. The authorization will 
have unused boxes.                                                        automatically end no later than the due date for filing your 2023 tax 
         If your financial institution does not honor your request for    return (excluding extensions). You may revoke the authorization at 
direct deposit, we will send you a check instead.                         any time by calling or writing us.
         We do not support international ACH transactions. We will 
only deposit refunds into accounts located within the United States. 
If your financial institution is located outside the United States, we 
will send you a check instead of depositing your refund into your 
account.

Line 71 — Follow the instructions on the form. This is your amount 
of tax due that must be paid in full if $1 or more. If you are not paying 
electronically, complete Form IL-1120-ST-V, Payment Voucher for 
Small Business Corporation Replacement Tax, make your check or 
money order payable to “Illinois Department of Revenue” and 
attach them to the front of the return.
         If you are paying electronically do not complete and attach 
a payment voucher.
You should also enter the amount you are paying in the box 
located on the top of Page 1 of the Form IL-1120-ST.
We encourage you to let us figure your penalties and interest and 
send you a bill instead of determining these amounts yourself. 
We will compute any penalty and interest due and notify you. See 
General Information, “What are the penalties and interest?”

IL-1120-ST Instructions (R-12/22)                                                                                                 Page 15 of 27

                                             Apportionment Formulas
Certain businesses that derive their income from inside and outside       For radio and television broadcasting (including cable and satellite 
Illinois require an apportionment formula. The following definitions will broadcasting), the following sales are in Illinois:
help in completing Step 6.                                                •  advertising revenue received from an advertiser whose 
A Business income — See General Information, “Business income”            headquarters is in Illinois;
  under “Definitions to help you complete your Form IL-1120-ST.”          •  fees received by a broadcaster from its viewers or listeners in 
B Financial organization — Any bank, bank holding company,                Illinois;
  trust company, savings bank, industrial bank, land bank, safe           •  in the case of fees received by a broadcaster from the producer 
  deposit company, private banker, savings and loan association,          or other owner of the contents of a program, the percentage of 
  building and loan association, credit union, currency exchange,         the fees equal to the percentage of the broadcast’s viewing or 
  cooperative bank, small loan company, sales finance company,            listening audience located in Illinois; or 
  investment company, or any person owned by a bank or bank               •  in the case of a person who owns the contents of a program and 
  holding company.                                                        who provides the contents to a broadcaster for a fee or other 
C Revenue miles — A revenue mile is the transportation of one             charge, the fees received for that program from a broadcaster 
  passenger, or one net ton of freight, the distance of one mile.         located in Illinois. 
D Federally regulated exchange — A federally regulated exchange           If the “sales everywhere” amount includes gross receipts from 
  is                                                                      the licensing, sale, or other disposition of patents, copyrights, 
•  a regulated entity as defined in 7 U.S.C. Sections 1a (40)(A),         trademarks, and other similar items of intangible personal property, 
  1a (40)(B), or 1a (40)(C);                                              and the receipts are not covered by the broadcasting rules, then 
•  an exchange or clearing agency as defined in 15 U.S.C. Sections        these receipts should be allocated in Illinois to the extent the item 
  78c (a)(1) or 78c (a)(23);                                              is used in Illinois during the year the gross receipts are included in 
•  any entity regulated under any successor regulatory structure to a     gross income. 
  registered entity, exchange, or clearing agency; or                     An item is used in Illinois if 
•  any member of the same unitary group if 50 percent or more of          •  a patent is employed in production, fabrication, manufacturing, or 
  the business receipts of the unitary business group for the taxable     other processing in Illinois or if the patented product is produced 
  year are attributable to the matching, execution, or clearing of        in Illinois;
  transactions conducted by members of the group described in the         •  copyrighted material is printed or other publications originated in 
  first three bullet points above.                                        Illinois; or
What if I am a sales company?                                             •  the commercial domicile of the licensee or purchaser of a 
                                                                          trademark or other item of intangible personal property is in 
If you checked the box in Step 1, Line E, indicating that you are a
                                                                          Illinois.
sales company and your income is derived from inside and outside
Illinois, you must also check Step 5, Box 35B. Apportion your                           If you cannot determine from your (or related party’s) books 
business income as follows:                                               and records in which state an item is used, do not include the gross 
Include gross receipts from the license, sale, or other disposition       receipts from that item in the numerator or the denominator of the 
of patents, copyrights, trademarks, and similar items of intangible       sales factor.
personal property in the numerator and denominator of your sales          For sales of telecommunications services, the following sales are in 
factor only if these gross receipts are more than 50 percent of the       Illinois:
total gross receipts included in gross income for this tax year and       •  sales of telecommunications service sold on a call-by-call basis, 
each of the two immediately preceding tax years.                          where the call both originates and terminates in Illinois, or the 
Do not include the following items of income in the numerator or          call either originates or terminates in Illinois and the customer’s 
denominator of your sales factor:                                         service address is in Illinois;
•  dividends;                                                             •  retail sales of postpaid telecommunications service if the point of 
•  amounts included under IRC Section 78;                                 origination of the signal is in Illinois;
                                                                          •  retail sales of prepaid telecommunications service where 
•  IRC Section 965 inclusion;
                                                                          the purchaser receives the prepaid card or other means of 
•  Global Intangible Low-Taxed Income (GILTI) income under                conveyance at a location in Illinois;
  IRC Section 951A;                                                       •  charges imposed at a channel termination point in Illinois;
•  subpart F income as defined in IRC Section 952; and                    •  charges for channel mileage between two channel termination 
•  any item of income excluded or deducted from base income.              points in Illinois;
For more information on what should be included in the numerator          •  charges for channel mileage between one or more channel 
or denominator of your sales factor, see 86 Ill. Adm. Code Sections       termination points in Illinois and one or more channel termination 
100.3370 and 100.3380.                                                    points outside Illinois, times the number of channel termination points 
Sales of tangible personal property are in Illinois if                    in Illinois divided by total termination channels;
•  the property is delivered or shipped from anywhere to a purchaser      •  charges for services ancillary to sales of services in Illinois. If you 
  in Illinois, other than the United States government, regardless of     provide ancillary services, but cannot determine where the sales 
  the Free on Board (f.o.b.) point or other conditions of the sale;       of the related services are located, your sales are in Illinois if your 
•  the property is shipped from Illinois to any place and the purchaser   customer is in Illinois;
  is the United States government; or                                     •  access fees charged to a reseller of telecommunication for a call 
•  the property is shipped from Illinois to another state and you are     that both originates and terminates in Illinois;
  not taxable in the state of the purchaser.                              •  50 percent of access fees charged to a reseller of 
                                                                          telecommunications services for an interstate call that originates 
                                                                          or terminates in Illinois; and
Page 16 of 27                                                                                                        IL-1120-ST Instructions (R-12/22) 

•  end user access line charges, if the customer’s service address is                  –      credit card receivables billed to a customer in Illinois.
   in Illinois.                                                                     •  sales of travelers checks and money orders at a location in Illinois;
For more information, see 86 Ill. Adm. Code Section 100.3371.                       •  interest, dividends, net gains, and other income from investment 
Illinois lottery winnings and proceeds from sales or other transfers of                and trading assets and activities, where the majority of your 
rights to lottery winnings are in Illinois.                                            contacts with the asset or activity is in Illinois. The state to which 
      For taxable years ending on or after December 31, 2019,                          an asset or activity is assigned in your books and records for 
      gross receipts from winnings from pari-mutuel wagering                           federal or state regulatory requirements is presumed to be proper 
      conducted at a wagering facility licensed under the                              unless a majority of the evidence shows otherwise or you do not 
      Illinois Horse Racing Act of 1975 or from winnings from                          have a fixed place of business in that state. If the place with the 
      gambling games conducted on a riverboat or in a casino                           majority of contacts cannot be determined under these rules, 
      or organization gaming facility licensed under the Illinois                      the gross receipts are in Illinois if your commercial domicile is in 
      Gambling Act are Illinois sales and must be included in the                      Illinois. 
      numerator of the sales factor.                                                •  any other transaction, if the gross receipts would be included on 
                                                                                       Line 41 under the general instructions for Line 41. 
For taxable years ending on or after December 31, 2021, payments 
from Illinois sources of wagering and winnings conducted in                         For more information, see 86 Ill. Adm. Code Section 100.3405.
accordance with the Sports Wagering Act are allocable to Illinois.                  Divide Line 41 by Line 40 and enter the result, rounded to six decimal 
                                                                                    places, on Line 42. Complete Lines 43 through 46 as indicated in 
Sales, other than sales of tangible personal property or 
                                                                                    Specific Instructions for Step 6 — Figure your income allocable to 
telecommunications service, and gross receipts from broadcasting, 
                                                                                    Illinois. 
or the licensing, sale, or other disposition of patents, copyrights, 
trademarks, and similar items of intangible personal property, or                   What if I am a transportation company?
Illinois lottery winnings or sales proceeds, are in Illinois as follows:            If you checked the box in Step 1, Line E, indicating that you are 
•  sales or leases of real property in Illinois;                                    a company that furnishes transportation service both inside and 
•  leases or rentals of tangible personal property, to the extent it is             outside Illinois, cross out the word “sales” on Lines 40 and 41 and 
   located in Illinois during the rental period;                                    write “Transportation.” You must apportion business income as 
•  interest, net gains, and other items of income from intangible                   follows:
   personal property received by a taxpayer who is a dealer in                      A  Transportation by airline —On Line 40, enter the amount 
   that property from a customer who is a resident of Illinois (for                    of revenue miles everywhere. On Line 41, enter the amount of 
   individuals) or who is commercially domiciled in Illinois (for all                  revenue miles in Illinois. Divide Line 41 by Line 40 and enter the 
   other customers). A taxpayer without actual knowledge of the                        result, rounded to six decimal places, on Line 42.
   residence or commercial domicile of a customer may use the                       B  Other modes of transportation — On Line 40, enter the amount 
   customer’s billing address.                                                         of your gross receipts from providing transportation services. 
•  interest, net gains, and other items of income from intangible                      On Line 41, enter the amount of gross receipts from Illinois, as 
   personal property received by a taxpayer who is not a dealer                        follows:
   in that property, if the income-producing activity is performed in               •  all gross receipts from transportation that both originates and 
   Illinois or if the income-producing activity is performed inside and                terminates in Illinois; and
   outside Illinois, and a greater proportion of the income-producing               •  gross receipts from interstate transportation, multiplied by a 
   activity is performed inside Illinois rather than outside Illinois,                 fraction equal to the miles traveled in Illinois on all  
   based on performance costs; or                                                      interstate trips divided by miles traveled everywhere on all 
•  in all other cases, if the services are received in Illinois.                       interstate trips.
For more information, see 86 Ill. Adm. Code Section 100.3370.                          Divide Line 41 by Line 40 and enter the result, rounded to six  
                                                                                       decimal places, on Line 42.
What if I am a financial organization?
                                                                                    C  Transportation of both freight and passengers or 
If you checked the box in Step 1, Line E, indicating that you are a 
                                                                                       transportation by airline and other modes — Compute 
financial organization and your income is derived from inside and 
                                                                                       separate fractions for freight transportation and passenger 
outside Illinois, cross out the word “sales” on Lines 40 and 41, and 
                                                                                       transportation by airline and for freight transportation and 
write “Financial organization.” 
                                                                                       passenger transportation by all other modes of transportation 
On Line 40, enter the amount of gross receipts from all sources.                       under A and B, in the list above and enter on Line 42 the average 
On Line 41, enter the amount of gross receipts from                                    of those fractions, weighted by the gross receipts from freight or 
•  sales or leases of real property located in Illinois;                               passenger transportation by airline or other modes, rounded to six 
•  leases or rentals of tangible personal property, to the extent it is                decimal places.
   located in Illinois during the rental period;                                    For more information, see 86 Ill. Adm. Code Section 100.3450. 
•  interest income, commissions, fees, gains on disposition, and                    Complete Lines 43 through 46 as indicated in Specific Instructions for 
   other receipts from:                                                             Step 6, Figure your income allocable to Illinois. 
   –  loans secured by real or tangible personal property                           What if I am a federally regulated exchange?
      located in Illinois;                                                          If you checked the box in Step 1, Line E, indicating that you are a 
   –  unsecured consumer loans to a resident of Illinois;                           federally regulated exchange and your income is derived from inside 
   –  unsecured commercial or installment loans where the                           and outside Illinois, cross out the word “sales” on Lines 40 and 41 and 
      proceeds of the loan are applied in Illinois. If the place of                 write “Exchange.” You may apportion your business income as follows:
      application cannot be determined, the gross receipts are                      On Line 40, enter the amount of business income from all sources. 
      in Illinois if the office of the borrower from which the loan was             On Line 41, enter the amount of business income from
      negotiated is in Illinois. If neither the place of application 
      nor the office of the borrower can be determined, do not                      •  receipts attributable to transactions executed on a physical trading 
      include the gross receipts in Lines 40 or 41; and                              floor located in Illinois;

IL-1120-ST Instructions (R-12/22)                                                                                                          Page 17 of 27

•  receipts attributable to all other matching, execution, or clearing      On Line 40, enter the “everywhere” sales factor of the entire unitary 
 transactions. This includes, without limitation, receipts from the         business group from Illinois Schedule UB, Step 4, Line 2, Column D. 
 provision of matching, execution, or clearing services to another          On Line 41, enter only your Illinois sales (including your share of 
 entity.                                                                    sales of any unitary partnerships in which you are a partner).
  – Multiply this amount by 27.54 percent (.2754) for tax years             On Lines 44 and 45, enter your own nonbusiness income and the 
 ending on or after December 31, 2013; and                                  Illinois portion of business income from non-unitary partnerships or 
•  all other receipts for sales in Illinois.                                partnerships included on a Schedule UB in which you are a partner, 
Divide Line 41 by Line 40 and enter the result, rounded to six decimal      S corporations in which you are a shareholder, or from trusts or 
places, on Line 42. Complete Lines 43 through 46 as indicated in            estates of which you are a beneficiary. 
Specific Instructions for Step 6, Figure your income allocable to Illinois. What if I want to use an alternative 
     For any tax year, the Illinois apportionment percentage                apportionment formula?
computed using this formula may never be less than the Illinois 
                                                                            If the apportionment methods prescribed by IITA, Sections 304(a) 
apportionment percentage computed for the first full tax year ending on 
                                                                            through (d), and (h) do not fairly and accurately represent the 
or after December 31, 2013, for which the taxpayer used this formula. 
                                                                            market for your goods, services, or other sources of business 
What if I am a member of a unitary business                                 income, or lead to a grossly distorted result, you may want to use a 
group?                                                                      more accurate alternative method. If you want to use an alternative 
                                                                            apportionment method, you 
The term “unitary business group” means a group of persons                                               must receive permission from IDOR 
related through common ownership, whose business activities are             prior to filing your return. 
integrated with, dependent on, and contribute to each other. In the                  Your request for an alternative apportionment formula must 
case of a corporation, common ownership is defined as the direct            follow the requirement of the 86 Ill. Adm. Code Section 100.3390. 
or indirect ownership or control of more than 50 percent of the             See the regulations or contact IDOR for more information.
outstanding voting stock of a corporation.                                  If you receive permission to use an alternative formula, you must 
If you determine that you are a member of a unitary business group,         attach to your Form IL-1120-ST a copy of the letter granting 
see Illinois Schedule UB for more information regarding your Illinois       permission.
filing requirements and the computation of your Illinois tax liability.     Send your request to: 
Once the Illinois Schedule UB has been completed, you must                    ILLINOIS DEPARTMENT OF REVENUE
apportion your business income as follows:                                    LEGAL SERVICES OFFICE
                                                                              SENIOR COUNSEL - INCOME TAX, 5-500
                                                                              101 WEST JEFFERSON STREET
                                                                              SPRINGFIELD IL  62702

                              Illinois Schedule B Instructions
              General Information                                           What is the purpose of Illinois Schedule B?
Read this information before completing Illinois Schedule B.                The purpose of Illinois Schedule B, Partners’ or Shareholders’ 
Amounts listed on the Schedule(s) K-1-P and Schedule(s) K-1-P(3),           Information, is for you to identify any person who was a partner or 
Pass-through Withholding Calculation for Nonresident Members, you           shareholder at any time during your tax year. 
complete are carried to your Illinois Schedule B and then reported          The Illinois Schedule B also allows you to identify your partners or 
on your Form IL-1120-ST or Form IL-1065. Therefore, you must                shareholders that are subject to the Illinois Personal Property Tax 
complete Schedule(s) K-1-P and Schedule(s) K-1-P(3) before                  Replacement Income Tax and to figure the share of distributable 
completing Schedule B.                                                      income or loss that is to be added to or subtracted from your base 
In order to ensure you complete Schedule B correctly, do the                income. 
following in order:                                                         Is Schedule B required?
‰  Complete all Schedule(s) K-1-P and Schedule(s) K-1-P(3), as              Yes. You are required to have a copy of this form on file. You must 
 applicable, for your members before completing any section of              attach a copy to your Form IL-1120-ST, Illinois Small Business 
 Illinois Schedule B. The information reported on Schedule(s)               Corporation Replacement Tax Return to support 
 K-1-P and Schedule(s) K-1-P(3) will be used to complete Illinois           • the addition modification claimed on Form IL-1120-ST, Step 4, 
 Schedule B. See Schedule K-1-P(1) for more information.                      Line 20, 
‰  Complete Section B of Illinois Schedule B before completing              • the subtraction modification claimed on Form IL-1120-ST, 
 Section A of Illinois Schedule B. Section B reports specific                 Step 5, Line 24, 
 amounts from each Schedule K-1-P and Schedule K-1-P(3) you                 • the pass-through withholding you owe on behalf of your 
 completed. Section B is required to be completed in full in order            nonresident members on Form IL-1120-ST, Step 8, Line 59, 
 to avoid processing delays, further correspondence, or delays in           • the PTE tax you pay on Form IL-1120-ST, Step 8, Line 61, and 
 the processing of any overpayments. 
                                                                            • the PTE tax credit you received and distributed to your members 
‰  Complete Section A of the Illinois Schedule B. Section A reports           on Schedule(s) K-1-P.  
 total amounts from Section B, and is required to be completed in 
 full in order to avoid processing delays, further correspondence,          Therefore, you must follow the instructions for Illinois Schedule B, 
 or delays in the processing of any overpayments.                           complete it in full, and attach it to your return.
‰  Carry the amount from Illinois Schedule B, Section A, Line 3 and                  You must use forms prescribed by IDOR. Separate 
 Line 5 to your Form IL-1120-ST or Form IL-1065, as applicable.             statements not on forms provided or approved by IDOR will not 
                                                                            be accepted and you will be asked for appropriate documentation. 
See Schedule K-1-P(1) Instructions for Partnerships and                     Failure to comply with this requirement may delay the 
S Corporations Completing Schedule K-1-P and Schedule K-1-P(3),             processing of your return or the generation of any overpayment. 
and Illinois Schedule B specific instructions for more information.
Page 18 of 27                                                                                                       IL-1120-ST Instructions (R-12/22) 

Additionally, failure to submit appropriate documentation when 
                                                                                          Specific Instructions
requested may result in a referral to our Audit Bureau for compliance 
action.                                                                    Section A:  Total members’ information
Partnerships and S corporations must complete Illinois                      Complete Schedule(s) K-1-P and Schedule(s) K-1-P(3), 
Schedule B. Do not send a computer printout with line numbers and          as applicable, and all of Illinois Schedule B, Section B, before 
dollar amounts attached to a blank copy of the schedule. Computer          completing Section A.
generated printouts are not acceptable, even if they are in the            Illinois Schedule B, Section A should be completed using the totals 
same format as IDOR’s forms. Computer generated forms from an              from Illinois Schedule B, Section B. When you submit your return you 
IDOR-approved software developer are acceptable.                           should only attach a single page of Section A. If you require multiple 
                                                                           pages of Section B, you may attach as many pages of Section B as 
What is a resident?
                                                                           required behind Section A.
A resident is
•  an individual who is present in Illinois for other than a temporary or  Lines 1 through 3    — Report amounts for both resident and 
   transitory purpose;                                                     nonresident members.
•  an individual who is absent from Illinois for a temporary or            Line 1 — Add the amounts you reported on Step 3, Column A, 
   transitory purpose but who is domiciled in Illinois;                    Line 10 through Line 19, of all the Schedule(s) K-1-P you issued 
                                                                           to your partners or shareholders and enter the total here. Include 
•  the estate of a decedent who at his or her death was domiciled in 
                                                                           amounts you reported to both your resident and nonresident 
   Illinois;
                                                                           members.
•  a trust created by a will of a decedent who at his or her death was 
                                                                           Line 2 — Add the amounts you reported on Step 7, Line 52a 
   domiciled in Illinois; or
                                                                           through Line 52x, and Step 7, Lines 53a through 53b, of all the 
•  an irrevocable trust, whose grantor was domiciled in Illinois at the    Schedule(s) K-1-P you issued to your partners or shareholders 
   time the trust became irrevocable. For purposes of this definition,     and enter the total here. Include amounts you reported to both your 
   a trust is irrevocable to the extent that the grantor is not treated as resident and nonresident members.
   the owner of the trust under Internal Revenue Code (IRC) Sections 
                                                                           Line 3 — Add the amounts shown in Section B, Line E for all the 
   671 through 678. 
                                                                           partners or shareholders for which you have checked the box in 
What is a nonresident?                                                     Section B, Line D. 
A nonresident is a person who is not a resident, as previously              Do not include 
defined. Corporations, S corporations, partnerships, and exempt                  •  partners or shareholders that are identified as 
organizations are considered nonresidents for purposes of                           individuals or estates in Section B, Line B, or
Illinois Schedule B.
                                                                                 •  grantor trusts or other disregarded entities whose 
What do Section B, Lines G through J report?                                        grantor or owner is an individual or estate. 
Lines G through J report certain items of income, credits, and             Enter the total amount on this line. If this is a 
pass-through withholding you reported to your nonresident members 
                                                                           •  positive amount, enter this amount on your Form IL-1065, Line 27 
on the Schedule K-1-P you issued to them.
                                                                           or Form IL-1120-ST, Line 24.
How do I determine the amounts to report in Section B, Lines G             •  negative amount (loss), enter this amount as a positive amount on 
through J?                                                                 your Form IL-1065, Line 21 or Form IL-1120-ST, Line 20. 
Before completing Illinois Schedule B you must complete 
Schedule(s) K-1-P and Schedule(s) K-1-P(3) for each of your                Lines 4 through 5 — Report amounts for nonresident 
nonresident members, as applicable. The amounts reported on those          members only.
schedules will be used to complete Illinois Schedule B, Section B,         Line 4a — Enter the total amount of pass-through withholding you 
Lines G through J.                                                         reported on the Schedule(s) K-1-P you issued to your nonresident 
See Schedule K-1-P(1) for instructions and more information about          individual members only. Total the amounts reported in Section 
Schedule K-1-P(3).                                                         B, Line J, for members that are identified with an “I” in Section B, 
What do I report in Section B, Line K?                                     Line B, and enter it here.
Line K is used to report the PTE tax credit you distribute to your         Line 4b — Enter the total amount of pass-through withholding you 
partners or shareholders if you elected to pay pass-through entity tax.    reported on the Schedule(s) K-1-P you issued to your nonresident 
                                                                           estate members only. Total the amounts reported in Section B, 
How do I determine the amounts to report in Section B, Line K?             Line J, for members that are identified with an “M” in Section B, 
Before completing Illinois Schedule B, Line K, you must determine          Line B, and enter it here.
each member’s portion of the PTE tax credit using the formula in the       Line 4c — Enter the total amount of pass-through withholding you 
Schedule B, Section B, Line K instructions.                                reported on the Schedule(s) K-1-P you issued to your partnership 
What do I report in Section B, Line L?                                     and S corporation members only. Total the amounts reported in 
Line L is used to report the PTE tax credit you receive and distribute     Section B, Line J, for members that are identified with a “P” or “S” in 
to your shareholders. Do not include any PTE tax you are paying            Section B, Line B, and enter it here.
on this line.                                                              Line 4d — Enter the total amount of pass-through withholding you 
                                                                           reported on the Schedule(s) K-1-P you issued to your nonresident 
How do I determine the amounts to report in Section B, Line L?
                                                                           trust members only. Include members identified as an exempt 
Use the Schedule(s) K-1-P or K-1-T you received to determine the           organization (trust). Total the amounts reported in Section B, Line J, 
amount of PTE tax credit you received. Distribute the PTE tax credit       for members that are identified with a “T” or “A” in Section B, 
based on each member’s share.                                              Line B, and enter it here.

IL-1120-ST Instructions (R-12/22)                                                                                                    Page 19 of 27

Line 4e — Enter the total amount of pass-through withholding you                  If this partner or shareholder is a grantor trust or other 
reported on the Schedule(s) K-1-P you issued to your C corporation          disregarded entity, enter the letter that corresponds to the tax type of 
members only. Include members identified as an exempt                       the grantor or owner.
organization (corporation). Total the amounts reported in Section B,        Line C — Enter the entire Social Security number (SSN) or federal 
Line J, for members that are identified with a “C” or “N” in Section B,     employer identification number (FEIN) of each partner or shareholder.
Line B, and enter it here.                                                        If the partner or shareholder is a foreign entity and does 
Line 5 — Add Section A, Lines 4a through 4e of this Schedule B              not have an SSN or FEIN, leave this line blank for that partner or 
and enter this amount here and on Form IL-1065, Line 59 or                  shareholder. If you leave this line blank, you may be contacted for 
Form IL-1120-ST, Line 59. The amount on Line 5 should match the             further information.
total amount from Schedule B, Section B, Line J for all members on          Line D — Check the box if the partner or shareholder is subject to 
all pages.                                                                  the Illinois Personal Property Tax Replacement Income Tax or is an 
Lines 6 and 7 —                                                             exempt organization (including an Employee Stock Ownership Plan 
Line 6 — Add Section B, Line K for all members of this Illinois             (ESOP)). Individuals, estates, or grantor trusts and other disregarded 
Schedule B and enter the total here. Enter zero if you paid                 entities whose grantors or owners are individuals or estates are not 
pass-through withholding.                                                   subject to this tax. 
Line 7 — Add Section B, Line L for all members of this Illinois             Line E — Enter the total amount of base income or loss distributable 
Schedule B and enter the total here. This amount should                     to this partner or shareholder, using the Line E Worksheet on Page 21. 
equal the total of all Schedule(s) K-1-P, Step 7, Line 53a and              Enter the amount from Line E Worksheet, Line 5, here. 
Schedule(s) K-1-T, Step 7, Line 50 you received. Attach copies              The total of all the amounts in Line E must equal your total base 
of all Schedule(s) K-1-P and K-1-T you received to your                     income, computed without regard to the addition claimed on your 
Form IL-1120-ST.                                                            Form IL-1120-ST, Step 4, Line 20, or the subtraction claimed on your 
If you completed multiple pages of Section B, complete Section A            Form IL-1120-ST, Step 5, Lines 24.
one time reporting the totals from all pages of Section B. Place all        Line F — If the partner or shareholder was excluded from pass-
pages of Section B behind the single page of Section A, and attach          through withholding indicate the reason by entering
them to your return.                                                        •   “T” if you elect to pay PTE tax, 
Section B:  Members’ information                                            •   “R” if the partner or shareholder is an Illinois resident, 
Columns 1 through 4 —                                                       •  “E” if the partner or shareholder provided you a Form IL-1000-E,   
Line A — Enter the name and address of each partner or                      indicating that they would pay their own tax liability,
shareholder. Use the following examples as a guide.                                    Partners or shareholders who provide you Form IL-1000-E 
If the partner or shareholder is an individual, use the following           must not be individual taxpayers. 
formats:                                                                    •   “P” if you are a publicly-traded partnership or an investment 
John Doe               John and Mary Doe             John Doe               partnership and therefore not required to make pass-through 
111 W. Main Street     111 W Main Street             % Mary Doe             withholding payments on behalf of your partners, or
Anytown                Anytown                       111 W Main St. #5A     •  “N” if the partner or shareholder was an exempt organization and 
IL  62666              IL  62666                     Anytown                you did not make pass-through withholding payments on their 
                                                                            behalf. 
                                                     IL  62666
                                                                                  Taxpayers are not required to make pass-through withholding 
If the partner or shareholder is a trust or an estate, use the 
                                                                            payments on behalf of their exempt organization members, but may do 
following formats:
                                                                            so for tax year ending on or after December 31, 2014.
John Doe Bankruptcy Trust                            Estate of John Doe
                                                                            If you elected to make pass-through withholding payments on behalf of 
% Mary Doe, Trustee                                  111 W Main St., Ste 4A an exempt organization member, leave this line blank for that member 
111 W Main Street, Suite 4A                          Anytown                and complete Lines G through J.
Anytown                                              IL  62666              Lines G through J — Provide the following information from the 
IL  62666                                                                   Schedule(s) K-1-P and Schedule(s) K-1-P(3) you completed for each 
If the partner or shareholder is a corporation (including                   member listed.
S corporations), or a partnership, use the following formats:               Line G — Enter the amount you reported on Step 3, Line 12, of the 
Illinois Big Business Group      Illinois Small Business Group              Schedule K-1-P(3) you completed for this member. This amount is this 
% John Doe, VP Finance           % Mary Doe                                 member’s share of Illinois income subject to pass-through withholding. 
111 West Main Street, Suite 4    111 West Main Street                             This amount is a dollar amount. Do not list a percentage on 
                                                                            this line.
Anytown                          Anytown
                                                                            Line H — Total the amount you reported on Step 3, Line 13, and 
IL  62666                                  IL  62666                        Step 3, Line 16, of the Schedule K-1-P(3) you completed for this 
Line B — Indicate the type of each partner’s or shareholder’s               member. Enter that amount on Line H for this member. This amount 
organization. Enter                                                         is this member’s pass-through withholding before credits. 
•  “I” for individual                                                       Line I — Total the amount you reported on Step 3, Line 14, and 
•  “P” for partnership                                                      Step 3, Line 17, of the Schedule K-1-P(3) you completed for this 
•  “M” for estate                                                           member. Enter that amount on Line I for this member. This amount is 
•  “T” for trust                                                            this member’s distributable share of credits. 
•  “C” for C corporation                                                    Line J — Enter the amount of pass-through withholding that 
•  “S” for S corporation                                                    you made on behalf of each member and reported to them on 
                                                                            Schedule K-1-P, Step 7, Line 55. This should match the amount 
•  “A” for exempt organization (trust)
                                                                            reported on Step 3, Line 19, of the Schedule K-1-P(3) you completed 
•  “N” for exempt organization (corporation)                                for this member.
Page 20 of 27                                                                                                    IL-1120-ST Instructions (R-12/22) 

         This line should be blank if you elected to pay PTE tax.     Line K — Enter the member’s share of the PTE tax credit. To 
Lines K and L - If the pass-through entity is itself a member in      determine the share of PTE tax credit due for each member, multiply 
an electing pass-through entity, the credit for PTE tax paid by the   the member’s distributive share of pass-through entity income 
electing pass-through entity passes through to its members as         reported on Form IL-1120-ST, Line 60, by 4.95% (0.0495). 
follows                                                                                The total credits allocated to all members may not 
• If the pass-through entitydoes not make the election to             exceed the PTE liability reported on Form IL-1120-ST, Line 61. The 
  pay PTE tax, it will only be passing through each member’s          total credits may also not exceed the PTE amount actually paid to 
  distributive share of the PTE tax credit that it received on        IDOR. If you overpaid your PTE liability, the overpayment may be 
  Schedule(s) K-1-P from electing pass-through entities in which it   refunded to the electing partnership or S corporation.
  is a member (Line L).                                               Include this amount on each member’s Schedule K-1-P, Step 7, 
• If the pass-through entity does make the election to pay            Line 53a.  
  PTE tax, then it passes through to its members both                               This line should be blank if you made pass-through 
  •     the credit for the PTE tax it pays (Line K) and               withholding payments. 
  •     each member’s distributive share of the PTE tax credit it     Line L — Enter each member’s distributive share of PTE tax credit 
        received from electing pass-through entities in which it is a you are passing through from Schedule(s) K-1-P or K-1-T you 
        member (Line L).                                              received. The PTE tax credit is passed through to your members 
  Add each member’s Line K and Line L. Enter the total on each        in the same proportion that the pass-through income is distributed 
  member’s Schedule K-1-P, Step 7, Line 53a.                          to your members. Also include this amount on each member’s 
                                                                      Schedule K-1-P, Step 7, Line 53a.
                                                                      If you have more than four members to report, and additional 
                                                                      space is needed, complete and attach additional pages of Illinois 
                                                                      Schedule B, Section B. After you have completed Section B, listing 
                                                                      all required amounts for your members, complete the single page of 
                                                                      Illinois Schedule B, Section A.

                                                        Line E Worksheet
Complete this worksheet for each partner or shareholder.
 1  Enter the share of income from Form IL-1065 or Form IL-1120-ST, Line 14 for this partner 
   or shareholder.                                                                                              1 _________________
 2  Enter the share of additions distributable to this partner or shareholder from 
    Form IL-1065, Lines 15 through 20 and Line 22 or 
    Form IL-1120-ST, Lines 15 through 19 and Line 21.                                                           2 _________________
 3  Add Lines 1 and 2.                                                                                          3 _________________
 4  Enter the share of subtractions distributable to this partner or shareholder from
    Form IL-1065, Lines 24 through 25 and 28 through 33 or 
    Form IL-1120-ST, Lines 23 and 25 through 33.                                                                4 _________________
 5  Subtract Line 4 from Line 3. If Line 3 is greater than Line 4 (income), 
    Enter the result as a positive amount in Line E for this partner or shareholder.
    If Line 4 is greater than Line 3 (loss), enter the result as a negative amount in 
    Line E for this partner or shareholder.                                                                     5 _________________ 

IL-1120-ST Instructions (R-12/22)                                                                                           Page 21 of 27

                             Appendix A - Extension Tax Payment Worksheet

Use this worksheet if all of the following apply to you:
•     you are required to file Form IL-1120-ST,
•     you cannot file your annual tax return by the due date, and
•     you complete this worksheet and determine you owe a tentative tax. 
If Line 7 of the worksheet shows you owe tentative tax, pay the full amount due either by filing and paying with Form IL-1120-ST-V or by 
making your payment electronically. An extension of time to file does not extend the amount of time you have to make your payment. 
Reminder: Entities electing to pay PTE tax must make estimated payments if their total tax due is expected to be greater than $500. See 
Appendix C. 
Extension Tax Payment Worksheet (for your records)
    1Enter the total tax you expect to owe for this tax year.                                            1 
     2Enter the total amount of estimated tax payments or prepayments you made and 
     any overpayment you elected to be credited for this tax year.                                       2 
  3  Enter any withholding reported to you and pass-through withholding made on your  
     behalf for this tax year.                                                                           3 
  4   Enter the amount of any previous tax payment you have made for this tax year.                      4 
  5   Enter the estimated replacement tax investment credits.                                            5 
  6   Add lines 2 through 5 and enter the result here.                                                   6 
  7   Subtract Line 6 from Line 1. This is your tentative tax due. Enter the result here and on 
     Form IL-1120-ST-V. Pay this amount with your Form IL-1120-ST-V on or before the original due 
     date of your return.                                                                                7 

Extension Tax Payment Worksheet Instructions
Line 1 —  Enter the total amount of replacement tax you expect to owe for this tax year (including recapture of investment credits using     
            Schedule 4255,  pass-through withholding payments you will owe on behalf of your members or PTE tax you elect to pay on 
            Schedule B, and surcharges from the Compassionate Use of Medical Cannabis Program Act and the sale of assets by gaming  
            licensee).
Line 2 —  Enter the total amount of estimated tax payments or prepayments you made and any overpayment you elected to be credited for this  
            tax year.
Line 3 —  Enter the total amount of Illinois income tax withheld on Form(s) W-2G and the amount of pass-through withholding paid on          
            your behalf and reported to you on Illinois Schedule(s) K-1-P or K-1-T. 
Line 4 —  Enter the amount of any previous tax payment you have made for this tax year. 
Line 5 —   Enter the amount of any estimated replacement tax investment credits from Form IL-477.
Line 6 —  Add Lines 2 through 5.  This is your total tax payments and credits.
Line 7 —  Subtract Line 6 from Line 1. This is your tentative tax due. If Line 7 is $1 or more, you must pay the amount due. If Line 7 is less  
            than $1, you do not have to pay. Do not attach your U.S. Form 7004 to your Form IL-1120-ST-V.

       Pay electronically at tax.illinois.gov or use the current tax year’s Form IL-1120-ST-V, Payment Voucher for Small 
Business Corporation Replacement Tax. 

Failure to use the correct voucher for your payments may result in your payment being misapplied, penalties and interest, a delay in the 
processing of your return, or a delay in the generation of any overpayment. 

Page 22 of 27                                                                                              IL-1120-ST Instructions (R-12/22) 

     Appendix B - Pass-through Withholding Prepayment Worksheets

Use this worksheet to determine the amount to voluntarily prepay pass-through withholding on behalf of your shareholders.  
Pass-through withholding prepayments are entirely voluntary; however, we suggest that you make your prepayments in four equal installments 
during the course of a year. 
     Use Appendix C to prepay your own estimated tax liability, including PTE tax.
      If you elect to file and pay PTE tax, do not use this worksheet. Taxpayers electing to file and pay PTE tax cannot report 
and pay pass-through withholding for their members. 
Check the following boxes to determine which worksheets you should complete. (You may check multiple boxes.)
  1 If you have nonresident individual and estate members that you wish to voluntarily prepay pass-through
    withholding on behalf of, check this box and complete Worksheet 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
  2 If you have partnership or S corporation members that you wish to voluntarily prepay pass-through withholding
    on behalf of, check this box and complete Worksheet 2 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
  3 If you have nonresident trust members that you wish to voluntarily prepay pass-through withholding on behalf of,
    check this box and complete Worksheet 3  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
  4 If you have corporation members that you wish to voluntarily prepay pass-through withholding on behalf of, check
    this box and complete Worksheet 4 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
Once the worksheets are complete, add the total from each worksheet:  
Worksheet 1, Line 9     ____________
Worksheet 2, Line 9     ____________ 
Worksheet 3, Line 13    ____________
Worksheet 4, Line 13    ____________
                        TOTAL       _____________
This is the amount of each of your voluntary quarterly prepayments for pass-through withholding. Add this total to the amount from 
Appendix C, Step 3, Line 27 to determine your voluntary quarterly prepayments to be made with  Form IL-1120-ST-V. These payments may be 
made at any time, up to and including the original due date of your return. 

     Pay electronically at tax.illinois.gov or use next tax year’s Form IL-1120-ST-V to mail your payment. 
Failure to use the correct voucher for your pre-payments may result in your payment being misapplied, penalties and interest, a delay in the 
processing of your return, or a delay in the generation of any overpayment. 

Worksheet 1:  Figure your pass-through withholding prepayments for nonresident individual and estate members. If you have nonresident 
individual and estate members that you wish to voluntarily prepay pass-through withholding on behalf of, complete this worksheet to 
determine the amount of your prepayment. Keep this record for your files.
  1 Enter your nonresident individual and estate members’ share of business income apportioned 
    to Illinois expected in the tax year (cannot be less than zero).                                      1   
  2 Enter your nonresident individual and estate members’ share of nonbusiness income allocable
    to Illinois expected in the tax year (cannot be less than zero).                                         2 
  3 Add Lines 1 and 2 and enter the result.                                                               3 
  4 Multiply Line 3 by 4.95% (.0495) and enter the result.                                                4 
  5 Enter the amount of Illinois income tax credits expected in the tax year to be passed to the 
    members whose income is included on Lines 1 or 2.                                                     5 
  6 Subtract Line 5 from Line 4 and enter the result.                                                     6 
  7 Enter the amount of surcharge from the sale of assets by gaming licensee passed through to you and 
    distributed to nonresident individual and estate members.                                             7 
  8 Add Lines 6 and 7.                                                                                    8 
  9 Divide Line 8 by 4. This is the amount of each of your voluntary prepayments for nonresident
    individual and estate members.                                                                        9 

IL-1120-ST Instructions (R-12/22)                                                                                          Page 23 of 27

Appendix B - continued
Worksheet 2:  Figure your pass-through withholding prepayments for partnership or S corporation members. If you have partnership or 
S corporation members that you wish to voluntarily prepay pass-through withholding for, complete this worksheet to determine the amount of 
your prepayment. Keep this record for your files.
  1 Enter your partnership or S corporation members’ share of business income apportioned 
    to Illinois expected in the tax year (cannot be less than zero).                                      1   
  2 Enter your partnership or S corporation members’ share of nonbusiness income allocable
    to Illinois expected in the tax year (cannot be less than zero).                                            2 
  3 Add Lines 1 and 2 and enter the result.                                                               3 
  4 Multiply Line 3 by 1.5% (.015) and enter the result.                                                  4 
  5 Enter the amount of Illinois replacement tax investment credits expected in the tax year to be passed 
    to the members whose income is included on Lines 1 or 2.                                              5 
  6 Subtract Line 5 from Line 4 and enter the result.                                                     6 
  7 Enter the amount of surcharge from the sale of assets by gaming licensee passed-through to you and 
    distributed to partnership and S corporation members.                                                 7 
  8 Add Lines 6 and 7.                                                                                    8 
  9 Divide Line 8 by 4. This is the amount of each of your voluntary prepayments for partnership or 
    S corporation members.                                                                                9 

Worksheet 3:  Figure your pass-through withholding prepayments for nonresident trust members. If you have nonresident trust members 
that you wish to voluntarily prepay pass-through withholding for, complete this worksheet to determine the amount of your prepayment. Keep 
this record for your files.
  1 Enter your nonresident trust members’ share of business income apportioned to Illinois
    expected in the tax year (cannot be less than zero).                                                  1   
  2 Enter your nonresident trust members’ share of nonbusiness income allocable to Illinois
    expected in the tax year (cannot be less than zero).                                                        2 
  3 Add Lines 1 and 2 and enter the result.                                                               3 
  4 Multiply Line 3 by 1.5% (.015) and enter the result.                                                  4 
  5 Enter the amount of Illinois replacement tax investment credits expected in the tax year to be 
    passed to the members whose income is included on Lines 1 or 2.                                       5 
  6 Subtract Line 5 from Line 4 and enter the result.                                                     6 
  7 Multiply Line 3 by 4.95% (.0495) and enter the result.                                                7 
  8 Enter the amount of Illinois income tax credits expected in  the tax year to be passed to the 
    members whose income is included on Lines 1 or 2.                                                     8 
  9 Subtract Line 8 from Line 7 and enter the result.                                                     9 
 10 Add Line 6 and Line 9 and enter the result.                                                           10 
 11 Enter the amount of surcharge from the sale of assets by gaming licensee passed-through to you and 
    distributed to nonresident trust members.                                                             11 
 12 Add Lines 10 and 11.                                                                                  12 
 13 Divide Line 12 by 4. This is the amount of each of your voluntary prepayments for nonresident
    trust members.                                                                                        13 

Page 24 of 27                                                                                                     IL-1120-ST Instructions (R-12/22) 

Appendix B - continued
Worksheet 4:  Figure your pass-through withholding prepayments for corporation members. If you have corporation members that you 
wish to voluntarily prepay pass-through withholding for, complete this worksheet to determine the amount of your prepayment. Keep this 
record for your files.
  1 Enter your corporation members’ share of business income apportioned to Illinois expected in
    the tax year (cannot be less than zero).                                                           1   
  2 Enter your corporation members’ share of nonbusiness income allocable to Illinois expected in
    the tax year  (cannot be less than zero).                                                                     2 
  3 Add Lines 1 and 2 and enter the result.                                                            3 
  4 Multiply Line 3 by 2.5% (.025) and enter the result.                                               4 
  5 Enter the amount of Illinois replacement tax investment credits expected in the tax year to be 
    passed to the members whose income is included on Lines 1 or 2.                                    5 
  6 Subtract Line 5 from Line 4 and enter the result.                                                  6 
  7 Multiply Line 3 by 7% (.07) and enter the result.                                                  7 
  8 Enter the amount of Illinois income tax credits expected in the tax year to be passed to the 
    members whose income is included on Lines 1 or 2.                                                  8 
  9 Subtract Line 8 from Line 7 and enter the result.                                                  9 
 10 Add Line 6 and Line 9 and enter the result.                                                        10 
 11 Enter the amount of surcharge from the sale of assets by gaming licensee passed-through to you and 
    distributed to corporation members.                                                                11 
 12 Add Lines 10 and 11.                                                                               12 
 13 Divide Line 12 by 4. This is the amount of each of your voluntary prepayments for corporation 
    members.                                                                                           13

        Appendix C - Estimated Payment and Prepayment Worksheet 

 Instructions
 If you elect to file and pay PTE tax and reasonably expect your total tax liability, including replacement tax and PTE tax, 
 to exceed $500 after Illinois tax credits and withholding payments made on your behalf, you are required to make estimated 
 payments. Complete Steps 1, 2, and 3 of this worksheet to compute your next tax year’s estimated tax payments.
 If you elect to file and pay PTE tax but you do not expect your tax liability, including replacement tax and PTE tax, to exceed 
 $500, you may voluntarily prepay next year’s taxes including PTE tax. Complete Steps 1, 2, and 3 of this worksheet to determine the 
 amount of your quarterly prepayment.
 If you do not elect to file and pay PTE tax, you may voluntarily prepay next year’s tax liability. Complete Steps 2 and 3 of this 
 worksheet to determine the amount of your quarterly tax liability prepayment. If you completed Appendix B, add the total from Step 3 
 to the total amount from Appendix B to determine your quarterly prepayments to be made with Form IL-1120-ST-V.
 If your income or your original estimated tax changes during the year, complete Step 4 of this worksheet to determine your 
 adjusted payment. 
        Keep this record for your files.
        Pay electronically at tax.illinois.gov or use next tax year’s Form IL-1120-ST-V to mail your payment. 
 Failure to use the correct voucher for your estimated payments or prepayments may result in your payment being misapplied, penalties and 
 interest, a delay in the processing of your return, or a delay in the generation of any overpayment. 

IL-1120-ST Instructions (R-12/22)                                                                                   Page 25 of 27

Appendix C - continued

Step 1 - Figure your PTE Tax - Complete Step 1 only if you are filing and paying PTE tax.
  1    Enter the amount of base income (Line 35) expected in the next tax year.                                  1                         00 
  2  Enter the amount equal to the share of income distributable to a shareholder subject to replacement
     tax (Line 24) expected in the next tax year.                                                                2                         00      
  3  PTE base income. Add Lines 1 and 2.                                                                         3                         00
  4  Enter the amount of nonbusiness income or loss expected in the next tax year.                               4                         00                              
  5  Enter the amount of business income or loss included in Line 4 from non-unitary partnerships, 
     partnerships  included on a Schedule UB, S corporations, trusts, or estates expected in the 
     next tax year.                                                                                              5                         00                              
  6  Add Lines 4 and 5.                                                                                          6                         00                              
  7  Expected base income or loss. Subtract Line 6 from Line 3.                                                  7                         00                              
  8  Enter the amount of total sales everywhere expected in 
     the next tax year.                                           8                              00                             
  9  Enter the amount of total sales inside Illinois expected in 
     the next tax year.                                           9                              00                             
  10 Divide Line 9 by Line 8. Round to six decimal places.        10                                  
  11 Business income or loss apportionable to Illinois expected in the next tax year. 
     Multiply Line 7 by Line 10.                                                                          11                               00                              
  12 Enter the amount of nonbusiness income or loss allocable to Illinois expected in the next tax year.  12                               00                              
  13 Enter the amount of business income or loss apportionable to Illinois from non-unitary partnerships, 
     partnerships  included on a Schedule UB, S corporations, trusts, or estates expected in the next tax year.  
     Do not include any income from a partnership or S corporation that will make the PTE election.       13                               00           
  14 PTE Income. Add Lines 11 through 13.                                                                 14                               00 
  15 PTE Tax. Multiply Line 14 by 4.95 percent (.0495).                                                   15                               00 
Step 2 - Figure your Replacement Tax 
  16 Enter the amount of Illinois net income expected in the next tax year.                               16                               00
  17 Multiply Line 16 by 1.5 percent (.015) and enter the result.                                         17                               00
  18 Enter the amount of recapture of investment credits expected in the next tax year.                   18                               00
  19 Enter the amount of surcharge expected from the Compassionate Use of Medical Cannabis 
     Program Act and the sale of assets by gaming licensee in the tax year.                               19                               00
  20 Add Lines 17 through 19. Enter the result.                                                           20                               00
  21 Enter the amount of Illinois tax credits expected in the next tax year as calculated on the 
     corresponding Form IL-477 or Schedule 1299-A.                                                        21                               00
  22 Enter the amount of pass-through withholding expected to be made  on your behalf in the next tax 
     year on any Schedule K-1-P or Schedule K-1-T you receive.                                            22                               00
  23 Enter the amount of any Illinois gambling and sports wagering winnings withholding shown on 
     the next tax year Form W-2G you expect to receive.                                                   23                               00
  24 Add Lines 21 through 23. Enter the result.                                                           24                               00
  25 Subtract Line 24 from Line 20 and enter the result.                                                  25                               00
Step 3 - Figure your Estimated Payments or Prepayments
  26 If you completed Step 1, add Lines 15 and 25. Otherwise, enter the amount from Line 25.              26                               00
  27 Divide Line 26 by 4. This is the amount of your quarterly estimated payments or prepayments.         27                               00
   You may use pass-through withholding made on your behalf on any Schedule K-1-P or K-1-T you received to reduce the estimated tax 
     payment for the quarter in which the tax year shown on the Schedule K-1-P or K-1-T falls and any subsequent tax payment until the 
     entire credit is used.
   You may use Illinois gambling and sports wagering withholding shown on any Form W-2G you receive to reduce the estimated tax 
     payment for the quarter in which the gambling winnings were received and any subsequent tax payment until the entire credit is used.
   If you made the election to credit a prior year overpayment to the next tax year and
     •  the election was made on or before the extended due date of that prior year return, use the credit to reduce the first estimated tax  
     payment and any subsequent tax payments until the entire credit is used. 
     •  the election was made after the extended due date of that prior year return, the credit will be treated as paid on the date you    
     submitted the election. If that payment date is on or before an estimated payment due date, you may use the credit to reduce that  
     estimated tax payment and any subsequent tax payments until the entire credit is used.

Page 26 of 27                                                                                                       IL-1120-ST Instructions (R-12/22) 

Appendix C - continued

Step 4 - Amended worksheet - Complete Step 4 if a change occurs in your original estimated tax.
  1  Enter the amount of PTE income expected in the next tax year.  
    If you are not electing to file and pay PTE tax, enter zero.                                              1 
  2 PTE Tax. Multiply Line 1 by  4.95% ( 0.0495).                                                             2 
  3  Enter the amount of Illinois net income expected in the next tax year.                                   3 
  4  Multiply Line 3 by 1.5% (.015) and enter the result.                                                     4 
  5  Enter the amount of recapture of investment credits expected in the next tax year.                       5 
  6  Enter the amount of surcharge expected from the Compassionate Use of Medical Cannabis 
    Program Act and the sale of assets by gaming licensee in the next tax year.                               6 
  7  Add Lines 4 through 6 and enter the result.                                                              7 
  8  Enter the amount of Illinois tax credits expected in the next tax year as calculated on the corresponding
    Form IL-477 or Schedule 1299-A.                                                                           8 
  9  Enter the amount of pass-through withholding expected to be made on your behalf in the next tax year on 
    any Schedule K-1-P or Schedule K-1-T you receive.                                                         9 
  10  Enter the amount of any Illinois gambling and sports wagering winnings withholding shown on the 
    next tax year Form(s) W-2G you expect to receive.                                                         10 
  11  Add Lines 8 through 10 and enter the result.                                                            11 
  12   Subtract Line 11 from Line 7 and enter the result.                                                     12 
13   Add Line 2 and 12.                                                                                       13 
14   Divide Line 13 by 4.                                                                                     14 
15   Multiply Line 14 by the number of previously due estimated payments.                                     15 
  16  Enter the amount of any estimated tax payments actually paid, timely prior year overpayments, timely 
    pass-through withholding and pass-through entity tax credit paid on your behalf, or timely Illinois 
    gambling and sports wagering winnings withholding shown on Form W-2-G you received.                       16 
17  Subtract Line 16 from Line 15 and enter the result. This amount may be negative.                          17 
  18  Add Lines 14 and 17 and enter the result. 
    If positive, this is the amount due on your next payment due date. 
    If zero or negative, the amount due on your next payment due date is zero.
    If Line 18 is negative, continue to Line 19. Otherwise, stop here.                                        18 
19  If Line 18 is negative, enter that amount as a positive number.                                           19 
20  Subtract Line 19 from Line 14 and enter the result. 
    This is the amount due on the following due date, if applicable.                                          20 

     Pay electronically at tax.illinois.gov or use next tax year’s Form IL-1120-ST-V to mail your payment. 

Failure to use the correct voucher for your estimated payments or prepayments may result in your payment being misapplied, penalties and 
interest, a delay in the processing of your return, or a delay in the generation of any overpayment. 

IL-1120-ST Instructions (R-12/22)                                                                                Page 27 of 27