INSTRUCTIONS: NEBRASKA CORPORATION INCOME TAX (Form 1120N)
Corporations doing business in Nebraska file their state income tax owed using a form 1120N. This document can be obtained from the website of the Nebraska Department of Revenue.
Nebraska Corporation Income Tax 1120N Step 1: Enter your trade name, legal name, address, business classification code, the date on which corporation operations in Nebraska began, your principal business activity within the state, and your state and federal ID numbers.
Nebraska Corporation Income Tax 1120N Step 2: Check the box next to the statement indicating the type of return being filed (initial or final, or one documenting a change in address). Indicate with a check mark if you are an exempt organization, are a cooperative meeting organization as classified by IRC 6072 (D) or have attached a form 7004.
Nebraska Corporation Income Tax 1120N Step 3: Questions A through D concern your filing status and should be answered with check marks next to all applicable answers.
Nebraska Corporation Income Tax 1120N Step 4: Complete lines 1 through 7 as instructed to determine your adjusted federal taxable income. Schedule A must be completed if claiming miscellaneous adjustments on line 5.
Nebraska Corporation Income Tax 1120N Step 5: Complete lines 8 through 12 as instructed to determine your net state taxable income.
Nebraska Corporation Income Tax 1120N Step 6: Follow the instructions on lines 13 through 18 to determine your state tax due after nonrefundable credits have been applied.
Nebraska Corporation Income Tax 1120N Step 7: Lines 19 through 22 allow you to document payments which have already been made.
Nebraska Corporation Income Tax 1120N Step 8: Lines 23 through 27 provide instructions for the final calculations necessary to determine your tax or refund owed.
Nebraska Corporation Income Tax 1120N Step 9: If owed a refund which you wish to receive through a direct deposit, enter all account information requested on lines 28a through 28d.
Nebraska Corporation Income Tax 1120N Step 10: Complete Schedule I if you are a multistate business.
Nebraska Corporation Income Tax 1120N Step 11: Complete Schedule II if you are applying a foreign divided and special foreign tax credit deduction.
Nebraska Corporation Income Tax 1120N Step 12: An officer of the firm should sign and date the bottom of the first page. Provide your email address, daytime phone number and title.
