Step 2 Filing Status
Yes No
Separate Iowa/
Separate Federal
Consolidated Iowa/
Consolidated Federal
Separate Iowa/
Consolidated Federal
Regular
Corporation
Cooperative UBIT
Filing
Status
Is this an inactive corporation?
Type of
Return
Was federal income or tax changed
for any prior period?
Prior period if yes (MM/DD/YY):
Do you have property in Iowa?
Do you have employees in Iowa?
New Business Successor Entering Iowa
Reorganized
Corporation
Merged
Limited Liability
Company
Dissolved
Association
Withdrawn
Government
Bankruptcy Other
Other
Is this the rst or
nal return?
First Return
Final Return
Type of Entity
Step 1
Check the box if:
County No.NAICS Code
Address
Address 2
City State ZIP
Doing Business As Name
Legal Name
Amended Return
Short Period
Federal Employer
Identication Number (FEIN)
42-001a (07/14/2023)
M DM D Y Y Y Y
M DM D Y Y Y Y
Tax Period
to
2023 IA 1120
Iowa Corporation Income Tax Return
tax.iowa.gov
6. Nonbusiness income from Schedule D, line 17 ...................................................
10. Iowa nonbusiness income from Schedule D, line 8 .............................................
Step 5
Taxable
Income
6
13
12
11
10
9
8
7
8. Iowa percentage from Schedule E. See instructions ...........................................
12. Net Operating Loss carryforward for losses incurred prior to 2023 .....................
7. Income subject to apportionment. Subtract line 6 from line 5 .............................
11. Income before Net Operating Loss. Add lines 9 and 10 ......................................
9. Income apportioned to Iowa. Multiply line 7 by line 8 ..........................................
13. Income subject to tax. Subtract line 12 from line 11.
Do not enter an amount below $0 .......................................................................
Check here if the corporation or any member of the consolidated
group is claiming P.L.86-272 protection in Iowa.
%
FEIN
Step 4
Reductions
to Income
5
4. Total reductions from Schedule A ........................................................................
5. Net income after reductions. Subtract line 4 from line 3 ......................................
2023 IA 1120, page 2
Enter Dollars and Cents
FEIN
Corporation Name
Step 3
Net Income
and
Additions
to Income
1
2
3
4
1. Taxable Income from federal return. See instructions .........................................
2. Total additions from Schedule A ..........................................................................
3. Net Income after additions.
Add lines 1 and 2 .................................................................................................
00
42-001b (07/14/2023)
14. Total tax. For tax rates, see page 6. Check box if tax is annualized.
16. Payments from Schedule C2, line 4 ....................................................................
Step 6
Tax,
Credits and
Payments
14
18
17
16
15
18. Net amount. Subtract line 17 from line 14 ...........................................................
17. Total credits and payments. Add lines 15 and 16 ................................................
15. Credits from Schedule C1, line 5. Do not include estimated tax credit ...............
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2023 IA 1120, page 3
Step 7
Balance Due
Corporation Name
23. Total amount due. Add lines 19 through 22.
Pay electronically or submit payment with voucher. ............................................
23
21. Filing and payment penalties ...............................................................................
21
19. Tax due if line 18 is greater than $0 ....................................................................
19
22
22. Interest ................................................................................................................
20. Penalty; underpayment of estimated tax. Include IA 2220 ..................................
20
Step 8
Overpayment
24
24. Overpayment if line 18 is less than $0..................................................................
25
25. Credit to next period’s estimated tax ....................................................................
26
26. Refund requested. Subtract line 25 from line 24 ..................................................
FEIN
42-001c (07/14/2023)
Schedule A - Additions and Reductions
AdditionsType of Income Reductions
1. RESERVED FOR FUTURE USE. ...........................................
1
8. Expensing/Depreciation Adjustment from IA 4562A ................
8
15. Nonconformity Adjustments from IA 101 .................................
15
5. RESERVED FOR FUTURE USE ............................................
5
12. RESERVED FOR FUTURE USE ............................................
12
3
3. Capital Loss Adjustments for ling status 2 or 3 ......................
10
10. RESERVED FOR FUTURE USE ............................................
7
7. Qualifying COVID-19 Grants ...................................................
14
14. Federal Securities Interest and Dividends. See instructions ...
2
2. RESERVED FOR FUTURE USE ............................................
9
9. Tax Exempt Interest and Dividends. See instructions .............
6
6. Interest Expense Adjustments from IA 163 .............................
13
13. Foreign Dividend Exclusion from Schedule B below ...............
4
4. Contribution Adjustments for ling status 2 or 3 ......................
11
11. RESERVED FOR FUTURE USE ............................................
26a. Routing number
26c. Account number
Savings26b. Checking
16
16. All-source PTE modications from Iowa K-1s .........................
00
00
00
00
00
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00
2023 IA 1120, page 4
Schedule B - Foreign Dividend Exclusion
Total Dividend
Type of Dividend Income
Exclusion
1. Less than 20% owned .............................................................
Other Additons
Other Reductions
1
x50%
2
2. 20% owned ..............................................................................
x65%
3
3. Small Business Investment Company .....................................
x100%
4
4. Qualifying Dividends ................................................................
x100%
5
5. Total. Add lines 1 through 4. Enter on Schedule A, line 13 ........................................................
Amount
Schedule C1 - Credits
3
3. Total Refundable Credits, excluding Fuel Credit. Include IA 148 ...................................................
4
4. Total Composite and PTET Credits. Include Schedule CC ...........................................................
2
2. Total Nonrefundable Credits. Include IA 148 .................................................................................
1. Fuel Credit. Include IA 4136 ..........................................................................................................
1
Amount
Schedule C2 - Payments
1. Estimated Tax Payments
e. Fourth quarter.............................................................................................................
e
c. Second quarter...........................................................................................................
c
a. Credit from prior period..............................................................................................
a
d
d. Third quarter...............................................................................................................
b. First quarter................................................................................................................
b
f
f. Other...........................................................................................................................
2
2. Voucher Payment ..........................................................................................................................
3
3. Other Payments. Include statement ..............................................................................................
4
4. Total. Add lines 1-3. Enter on page 2, line 16 ................................................................................
FEIN
Corporation Name
42-001d (07/14/2023)
5. Total Credits. Add lines 1-4. Enter on page 2, line 15 ....................................................................
5
18
18. Charitable Contribution Adjustment from Iowa Credit .............
19
19. Other. Must include schedule ..................................................
20
20. Totals. Add lines 1-19 ..............................................................
17
17. Pre 2023 federal NOL addback. See Instructions ...................
Additions
Type of Income
Reductions
Enter total on page 2, line 2. Enter total on page 2, line 4.
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2023 IA 1120, page 5
Corporation Name
FEIN
42-001e (07/14/2023)
1. Year business was started in Iowa:
Additional Information
3. Information from the prior period Iowa return:
4. If part of a federal consolidated group, please
provide information about the corporate parent:
2. Last period led as S corporation (if any):
Corporation Name
Corporation Name
Income before net operating loss
1a. Gross Receipts from sale of tangible personal property .........
1b. Gross receipts from performance of services ..........................
1c. Gross receipts from railroad, trucking, aviation, or other
transportation activities. ...........................................................
1d. Gross receipts from telecommunication services
1e. Gross receipts from radio and television broadcasts ..............
1f. Gross receipts from printed and electronic media ...................
1g. Gross receipts from utilities services .......................................
1h. Gross receipts from nancial activities ....................................
8. Capital Gain .............................................................................
5. Other Interest ..........................................................................
12. Total. Add lines 1a through 11 .................................................
Schedule E - Business Activity Ratio (BAR)
(see instructions)
Column A
Iowa Receipts
Type of Income
Column B
Receipts Everywhere
a
b
c
d
e
f
g
h
8
7
6
5
12
4
11
3
10
2
9
3. Exempt Interest from Schedule A, line 9 .................................
10. Partnership Gross Receipts. Include schedule .......................
7. Royalties ..................................................................................
2. Net Dividends (see instructions) ..............................................
9. Ordinary Gain ..........................................................................
6. Rent .........................................................................................
4. Accounts Receivable Interest ..................................................
11. Other. Must include schedule ..................................................
13
13.Divide column A total by column B total. Enter % on page 2, line 8.
Round to six decimal places and enter as a percentage. For example, 0.1234505 becomes 12.3451%.
%
FEIN
FEIN
M DM D Y Y Y Y
M DM D Y Y Y Y
to
Y Y Y Y
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00
I, the undersigned, declare under penalties of perjury or false certicate, that I have examined this return, and, to the best of my
knowledge and belief, it is true, correct, and complete. I declare that I am authorized to act on behalf of the taxpayer, and will only act
within my authority
Signature must be signed by hand or via a digital signature with a digital certicate. Stamped or typed signatures are not accepted.
Preparer’s ID
ID Number (optional)
City
City
State
State
ZIP
ZIP
Name of preparer or preparer’s employer
Designee’s Name
Address of preparer or preparer’s employer
Mailing address
Email
Date
Date
Ocer’s name (Printed)
Ocer’s signature
Title
Signature of preparer if other than taxpayer
Preparer’s phone number
Designee’s phone number
Phone
2023 IA 1120, page 6
FEIN
Corporation Name
Sign Here
Sign Here
42-001f (07/14/2023)
M DM D Y Y Y Y
M DM D Y Y Y Y
Tax Rates
If income shown on page 2, line 13 is:
• $100,000 or less; multiply line 13 by 5.5% (.055).
• Over $100,000; multiply line 13 by 8.4% (.084) and
subtract $2,900.
If annualizing, include a schedule showing computation.
To obtain schedules and forms:
Website: tax.iowa.gov
Tax Research Library: itrl.idr.iowa.gov/
Questions:
515-281-3114 or 800-367-3388
Email: [email protected]
eFile or mail your return to:
Corporation Tax Return Processing
Iowa Department of Revenue
PO Box 10468
Des Moines, IA 50306-0468
A complete copy of your federal return, as led with the Internal Revenue Service, must be led with this return. For federal consolidated
lers, you must include pages 1-5 of your consolidated federal return, consolidating income statements, federal 851 (for status 3), Iowa
Schedule H and any other forms related to the Iowa return.
Third Party Disclosure Designee. Do you want to allow an individual to discuss this return with the Department? See instructions.