Schedule 1299-A "Tax Subtractions and Credits (For Partnerships and S Corporations)" - Illinois

What Is Schedule 1299-A?

This is a legal form that was released by the Illinois Department of Revenue - a government authority operating within Illinois. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on December 1, 2020;
  • The latest edition provided by the Illinois Department of Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Schedule 1299-A by clicking the link below or browse more documents and templates provided by the Illinois Department of Revenue.

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Illinois Department of Revenue
*34012201W*
2020Schedule 1299-A
Year ending
Tax Subtractions and Credits (for partnerships and S corporations)
_____ _____
For tax years ending on or after December 31, 2020.
Month
Year
Attach to your Form IL-1065 or IL-1120-ST.
IL Attachment No. 9
Enter your name as shown on your return.
Enter your federal employer identification number (FEIN).
Read this information before completing this schedule:
Refer to Schedule 1299-I, Income Tax Credits Information and Worksheets,
and Schedule 1299-A Instructions for information on how to complete this schedule. All figures should be rounded to whole dollars. If you
have more subtractions or credits than lines available, attach a separate schedule in the same format with all the required information.
Step 1: Figure your subtractions
River Edge Redevelopment Zone Dividend Subtraction
A
B
C
Corporation’s name
Name of zone
Dividend amount
1 a
a
b
b
c
c
2
Enter any distributive share of River Edge Redevelopment Zone Dividend Subtraction from partnerships,
2
S corporations, and trusts. Attach Schedule(s) K-1-P or K-1-T.
3
Add Column C, Lines 1a through 1c, and Line 2, plus the total from all separate schedules. Enter your total
River Edge Redevelopment Zone Dividend Subtraction here and on Form IL-1065, Line 28 or
3
Form IL-1120-ST, Line 25.
High Impact Business within a Foreign Trade Zone (or sub-zone) Dividend Subtraction
A
B
C
Corporation’s name
Name of zone
Dividend amount
4 a
a
b
b
c
c
5
Enter any distributive share of High Impact Business Dividend Subtraction from partnerships, S corporations,
5
and trusts. Attach Schedule(s) K-1-P or K-1-T.
6
Add Column C, Lines 4a through 4c, and Line 5, plus the total from all separate schedules. Enter your total
High Impact Business Dividend Subtraction here and on Form IL-1065, Line 29 or
6
Form IL-1120-ST, Line 27.
Contribution Subtraction (Form IL-1120-ST filers only)
A
B
C
D
Name of zone
Zone organization
Contribution amount
Column C
2
x
7 a
a
b
b
c
c
8
8
Enter any distributive share of Contribution Subtraction from S corporations. Attach Schedule(s) K-1-P.
9
Add Column D, Lines 7a through 7c, and Line 8, plus the total from all separate schedules. Enter your total
9
Contribution Subtraction here and on Form IL-1120-ST, Line 29.
Interest Subtraction - River Edge Redevelopment Zones (Form IL-1120-ST financial organizations only)
A
B
C
D
E
F
G
H
Property by
Year of
Zone of
Col. E ÷ Col. F
which loan
investment
secured
Basis of
Loan
Total
(cannot exceed “1”)
Borrower
is secured
credit
property
property
amount
interest
Multiply result by Col.
G
10 a
a
b
b
c
c
11
Enter any distributive share of River Edge Redevelopment Zone Interest Subtraction from S corporations.
11
Attach Schedule(s) K-1-P.
12
Add Column H, Lines 10a through 10c, and Line 11, plus the total from all separate schedules. Enter your
12
total River Edge Redevelopment Zone Interest Subtraction here and on Form IL-1120-ST, Line 26.
Schedule 1299-A Front (R-12/20)
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this
information is REQUIRED. Failure to provide information could result in a penalty.
Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes.
Illinois Department of Revenue
*34012201W*
2020Schedule 1299-A
Year ending
Tax Subtractions and Credits (for partnerships and S corporations)
_____ _____
For tax years ending on or after December 31, 2020.
Month
Year
Attach to your Form IL-1065 or IL-1120-ST.
IL Attachment No. 9
Enter your name as shown on your return.
Enter your federal employer identification number (FEIN).
Read this information before completing this schedule:
Refer to Schedule 1299-I, Income Tax Credits Information and Worksheets,
and Schedule 1299-A Instructions for information on how to complete this schedule. All figures should be rounded to whole dollars. If you
have more subtractions or credits than lines available, attach a separate schedule in the same format with all the required information.
Step 1: Figure your subtractions
River Edge Redevelopment Zone Dividend Subtraction
A
B
C
Corporation’s name
Name of zone
Dividend amount
1 a
a
b
b
c
c
2
Enter any distributive share of River Edge Redevelopment Zone Dividend Subtraction from partnerships,
2
S corporations, and trusts. Attach Schedule(s) K-1-P or K-1-T.
3
Add Column C, Lines 1a through 1c, and Line 2, plus the total from all separate schedules. Enter your total
River Edge Redevelopment Zone Dividend Subtraction here and on Form IL-1065, Line 28 or
3
Form IL-1120-ST, Line 25.
High Impact Business within a Foreign Trade Zone (or sub-zone) Dividend Subtraction
A
B
C
Corporation’s name
Name of zone
Dividend amount
4 a
a
b
b
c
c
5
Enter any distributive share of High Impact Business Dividend Subtraction from partnerships, S corporations,
5
and trusts. Attach Schedule(s) K-1-P or K-1-T.
6
Add Column C, Lines 4a through 4c, and Line 5, plus the total from all separate schedules. Enter your total
High Impact Business Dividend Subtraction here and on Form IL-1065, Line 29 or
6
Form IL-1120-ST, Line 27.
Contribution Subtraction (Form IL-1120-ST filers only)
A
B
C
D
Name of zone
Zone organization
Contribution amount
Column C
2
x
7 a
a
b
b
c
c
8
8
Enter any distributive share of Contribution Subtraction from S corporations. Attach Schedule(s) K-1-P.
9
Add Column D, Lines 7a through 7c, and Line 8, plus the total from all separate schedules. Enter your total
9
Contribution Subtraction here and on Form IL-1120-ST, Line 29.
Interest Subtraction - River Edge Redevelopment Zones (Form IL-1120-ST financial organizations only)
A
B
C
D
E
F
G
H
Property by
Year of
Zone of
Col. E ÷ Col. F
which loan
investment
secured
Basis of
Loan
Total
(cannot exceed “1”)
Borrower
is secured
credit
property
property
amount
interest
Multiply result by Col.
G
10 a
a
b
b
c
c
11
Enter any distributive share of River Edge Redevelopment Zone Interest Subtraction from S corporations.
11
Attach Schedule(s) K-1-P.
12
Add Column H, Lines 10a through 10c, and Line 11, plus the total from all separate schedules. Enter your
12
total River Edge Redevelopment Zone Interest Subtraction here and on Form IL-1120-ST, Line 26.
Schedule 1299-A Front (R-12/20)
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this
information is REQUIRED. Failure to provide information could result in a penalty.
*34012202W*
Interest Subtraction - High Impact Business within a Foreign Trade Zone (or sub-zone)
)
(Form IL-1120-ST financial organizations only
A
B
C
D
E
F
G
H
Property by
Year of
Zone of
Col. E ÷ Col. F
which loan
investment
secured
Basis of
Loan
Total
(cannot exceed “1”)
Borrower
is secured
credit
property
property
amount
interest
Multiply result by Col. G
13 a
a
b
b
c
c
14
Enter any distributive share of High Impact Business Interest Subtraction from S corporations.
14
Attach Schedule(s) K-1-P.
15
Add Column H, Lines 13a through 13c, and Line 14, plus the total from all separate schedules. Enter your total
15
High Impact Business Interest Subtraction here and on Form IL-1120-ST, Line 28.
Step 2: Worksheet
(Complete this step only if you earned this credit during your current tax year.)
Research and Development
- Follow the instructions on this worksheet to calculate your Research and Development credit
amount to enter in Step 3, Column E.
A
B
Base period avg. expenses
This year’s expenses
16
Enter the amounts from Schedule 1299-I, Line 6 of the Research and
16
Development Worksheet.
16
17
17
Subtract Line 16, Column A, from Line 16, Column B. If negative, enter zero.
18 Multiply Line 17 by 6.5% (.065). Enter the result here and in Step 3, Column E
18
on the line with Credit Code 5340 in Column B.
Step 3: Figure your credits
See Schedule 1299-A Instructions and Schedule 1299-I for how to list each credit, complete each column, and where to list each owner’s
share on Schedule K-1-P, Partner’s or Shareholder’s Share of Income, Deductions, Credits, and Recapture.
A
B
C
D
E
F
G
RESERVED
Credit
IL Tax Year
Identifying Number
Credit Earned
Distributive
Total
Code
Credit Earned
Share or Transfer
Credit
19
20
21
22
23
24
25
26
27
28
29
30
NOTE: If you do not provide the necessary information or attempt to claim a credit which does not exist, you may receive
correspondence from the Department, your credit may be disallowed, and the processing of your return may be delayed.
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Schedule 1299-A Back (R-12/20)
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