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Form MO-1120 Corporation Income Tax/Franchise Tax Return and Form MO-FT

Form MO-1120 Corporation Income Tax/Franchise Tax Return and Form MO-FT

 

INSTRUCTIONS: MISSOURI CORPORATION INCOME TAX RETURN (Form MO-1120)

 

 

Corporations doing business in Missouri file their state income and franchise taxes using a form MO-1120. This document is found on the website of the Missouri Department of Revenue.

 

Missouri Corporation Income Tax Return MO-1120 Step 1: Enter your corporation name, address, state tax ID number, charter number and federal ID number. 

 

Missouri Corporation Income Tax Return MO-1120 Step 2: Check the box next to the statement indicating what type of return you are following. Enter your balance sheet date. A copy of your federal income tax return must be attached with your filed state return.

 

Missouri Corporation Income Tax Return MO-1120 Step 3: On line 1, enter your federal taxable income. On line t2wo, enter your corporation income tax from all states deducted when determining your federal taxable income.

 

Missouri Corporation Income Tax Return MO-1120 Step 4: Skip to Part 1 on the second page. Follow the instructions to compute your total additions. Transfer the total on line 5 to line 3 on the first page.

 

Missouri Corporation Income Tax Return MO-1120 Step 5: Add lines 2 and 3 and enter the total on line 4. This number is the total of your additions.

 

Missouri Corporation Income Tax Return MO-1120 Step 6: Skip to Part 2 on the second page and follow the instructions to determine your total subtractions. Transfer the result from line 13 to line 5 on the first page.

 

Missouri Corporation Income Tax Return MO-1120 Step 7: Add lines 1 and 4. Subtract line 5. Enter the difference on line 6. Complete separate form MD-NJD to complete line 7.

 

Missouri Corporation Income Tax Return MO-1120 Step 8: Skip to Part 3 on the second page to compute your federal income tax, which is entered there and on line 8 of the first page.

 

Missouri Corporation Income Tax Return MO-1120 Step 9: Follow the instructions on lines 9 through 13 to determine your state taxable income. 

 

Missouri Corporation Income Tax Return MO-1120 Step 10: Calculate your tax owed as instructed on lines 14 through 17. 

 

Missouri Corporation Income Tax Return MO-1120 Step 11: Lines 18 through 24 compute your credits and payments already made. Lines 25 through 31 contain instructions to determine the final size of the tax owed or the refund you are owed.

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