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Illinois Department of Revenue
*32712231W*
2023 Form IL-1120-ST
Small Business Corporation Replacement Tax Return
Due on or before the 15th day of the 3rd month following the close of the tax year.
If this return is not for calendar year 2023, enter your fiscal tax year here.
Enter the amount you are paying.
Tax year beginning 20 , ending 20
month day year month day year
This form is for tax years ending on or after December 31, 2023, and before December 31, 2024.
For all other situations, see instructions to determine the correct form to use. $
Step 1: Identify your small business corporation N Enter your federal employer identification number
A Enter your complete legal business name. (FEIN).
If you have a name change, check this box.
Name: O Check this box if you are a member of a
B Enter your mailing address. unitary business group and enter the FEIN of the
C/O: member who prepared the Schedule UB, Combined
Apportionment for Unitary Business Group.
Mailing address:
Attach Schedule UB to this return.
City: State: ZIP:
C If this is the first or final return, check the applicable box(es). P Enter your North American Industry Classification
First return System (NAICS) Code. See instructions.
Final return (Enter the date of termination. )
mm dd yyyy Q Enter your Illinois corporate file (charter) number
D If this is a final return because you sold this business, enter the date sold issued by the Secretary of State.
(mm dd yyyy) , and the new owner’s FEIN
. R Enter the city, state, and zip code where your
E Apportionment Formulas. Check the appropriate box or boxes and see accounting records are kept. (Use the two-letter
the Apportionment Formula instructions. postal abbreviation, e.g., IL, GA, etc.)
Financial organizations Transportation companies
Federally regulated exchanges Sales companies City State ZIP
F Check this box if you attached Form IL-4562. S If you are making the business income election to
treat all nonbusiness income as business income,
G Check this box if you attached Illinois Schedule M (for businesses). check this box and enter zero on Lines 36 and 44.
H Check this box if you attached Schedule 80/20. T If you have completed the following, check the box
I Check this box if you attached Schedule 1299-A. and attach the federal form(s) to this return.
J Check this box if you attached the Subgroup Schedule. Federal Form 8886 Federal Sch. M-3,
Part II, Line 10
K Check this box if you are a 52/53 week filer.
U If you are making a discharge of indebtedness
L Check this box if you elected to file and pay Pass-through adjustment on Schedule NLD or Form IL-1120-ST,
Entity Tax. See instructions. Line 48, check this box and attach federal
M If you are paying Pass-through Entity Tax and you annualized your Form 982.
income on Form IL-2220, check this box and attach Form IL-2220. V Check this box if your business activity is
protected under Public Law 86-272.
Step 2: Figure your ordinary income or loss (Whole dollars only)
1 Ordinary income or loss, or equivalent from federal Schedule K. 1 00
2 Net income or loss from all rental real estate activities. 2 00
3 Net income or loss from other rental activities. 3 00
4 Portfolio income or loss. 4 00
5 Net IRC Section 1231 gain or loss. 5 00
6 All other items of income or loss that were not included in the computation of income or loss on
Page 1 of U.S. Form 1120-S. See instructions. Identify: ______________________________ 6 00
7 Add Lines 1 through 6. This is your ordinary income or loss. 7 00
Step 3: Figure your unmodified base income or loss
8 Charitable contributions. 8 00
9 Expense deduction under IRC Section 179. 9 00
10 Interest on investment indebtedness. 10 00
11 All other items of expense that were not deducted in the computation of ordinary income or loss on
Page 1 of U.S. Form 1120-S. See instructions. Identify: ______________________________ 11 00
12 Add Lines 8 through 11. 12 00
Attach your payment and Form IL-1120-ST-V here. 13 Subtract Line 12 from Line 7. This amount is your total unmodified base income or loss. 13 00
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this
IL-1120-ST (R-12/23) IR NS DR information is REQUIRED. Failure to provide information could result in a penalty. Page 1 of 5
