ILLINOIS DEPARTMENT OF REVENUE 

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IDR-1-DIS (N-08/23)          Printed by authority of State of Illinois, web only – one copy. 
 

                     Illinois Department of Revenue                                                                                                                         Year ending
                                                                                                     *31612191V*
               IL-477                                                                   ___  ___ 
                       Replacement Tax Investment Credits                                                                                                   Month          Year
                                   Attach to Form IL-1120, IL-1065, IL-1120-ST, IL-1041, or IL-990-T.                                                        
                                                                                                                                                                            IL Attachment No. 18

__________________________________________________                                                ___ ___ - ___ ___ ___ ___ ___ ___  ___ 
Enter your name as shown on your return.                                                                                         Enter your federal employer identification number (FEIN).
Step 1:    Figure your Replacement Tax Investment Credit for qualified property placed in service  during   
             the tax year.
            A                                     B                  C          D         E                  F                                        G                                    H
                                                  Date placed                  New    Business 
            Description of                        in service        Useful      or    activity        Location of use                                         
            qualified property                    Month   Year       life     used*  (see inst.)      (city or county)                                Basis                 Column G  x.5% (.005)
  1  a                                                                                                                                                        1a                                     
      b                                                                                                                                                       1b                                     
     c   TENTATIVE                                                                                                                                          FINAL  1c                                
       * If the property is used, enter the abbreviation of the state in which the property was previously used.                                                   
 2   Enter the total of each Column G and H.                                                                                                    2 
 3   If your business is new to Illinois, enter the amount from Line 2, Column H, here and check 
     the box in Step 2. If your business is not new to Illinois, complete Step 2 to see if you qualify                                                                                            
     for an additional credit based on increases in employment.                                                                                             3
  4  Enter the distributive share of Replacement Tax Investment Credit from partnerships and S corporations.
     Attach Schedule(s) K-1-P.                                                                                                                              4 
  5  Add Line 2, Column H, and Lines 3 and 4. This is your total Replacement Tax Investment Credit from this year. 5 
  6  Partnerships or S corporations only. Multiply Line 5 by the percentage of total ownership in the partnership
     or S corporation attributable to partners or shareholders subject to replacement tax. See instructions.                                                6
 7   Subtract Line 6 from Line 5.                                                                                                                           7
  8  Enter the amount of your credit carryforward from a previous year.                                                                                     8
  9  Add Lines 7 and 8. This is your total investment credit available to use this year.                                                                    9  
 10  Enter your total replacement tax. See instructions.                                                                                                    10                                       
 11  Trusts only. Enter the amount of tax credit from Form IL-1041, Schedule CR, Line 60. See instructions.                                                 11 
 12  Subtract Line 11 from Line 10. If the amount is zero or negative, enter zero.                                                                          12 
 13  Enter the lesser of Line 9 or Line 12 here and on your return. See instructions.                                                                                                          
     This is your Replacement Tax Investment Credit to use this year.                                                                                       13 
 14  Subtract Line 13 from Line 9. If the amount is negative, enter zero.
     This is the amount of excess credit available to be carried forward five years.                                                                        14
Step 2:    Figure your base employment calculation worksheet
Note: If your business is new to Illinois, check this box.                                         
Do not complete Lines 15 through 22. See instructions for Step 1, Line 3.                                     A                                  B                    
You  automatically qualify for the additional credit.                                                      Month               Current year                           Preceding year
15  Enter as your “base employment” the number of covered workers                                     1st                                                           
     from Line 1 of Illinois Department of Employment Security Form                                   2nd                                                           
     UI-3/40, Employer’s Contribution and Wage Report.                                                3rd                                                           
     Make entries only for those months that you were taxed by Illinois.                              4th                                                           
                                                                                                      5th                                                           
                                                                                                      6th                                                           
                                                                                                      7th                                                           
                                                                                                      8th                                                           
                                                                                                      9th                                                           
                                                                                                     10th                                                           
                                                                                                     11th                                                           
                                                                                                     12th                                                           
 16  Enter the total of each column.                                                                             16                                                 
 17  Enter the number of months in your taxable year for each column. See instructions.                        17                                                   
 18  For each column, divide the amount on Line 16 by the amount on Line 17.                                                                                                                   
     Round the result to six decimal places and enter the amount here.                                             18      _____.___________            _____.___________
 19  Subtract Line 18, Column B, from Line 18, Column A and enter the result here.
     If the amount is positive, continue to Line 20.
     If the amount is              zero or negative,stop here,         enter zero on Line 3, and continue to Line 4.                                                                              
     You do not qualify for the additional credit.                                                                                                          19
 20  Divide Line 19 by Line 18, Column B. Round the result to six decimal places and enter the amount here.                                                                                       
     If the amount is .01 or larger,              stop hereand enter the amount from Line 2, Column H,                                                                                            
     on Line 3. If this amount is less than .01, continue to Line 21.                                                                                       20
 21  Multiply Line 20 by 50% (.50). Round to six decimal places and enter the result here.                                                                                  21     _____.___________
  22 Multiply Line 2, Column G, by Line 21, and enter the result here and on Line 3.                                                                          22 
                                                           This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this    Printed by the authority of the state 
         IL-477 (R-12/19)                                  information is REQUIRED. Failure to provide information could result in a penalty.        of Illinois - electronic only - one copy.