Form RI-1120C Business Corporation Tax Return

Form RI-1120C Business Corporation Tax Return

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Form RI-1120C Business Corporation Tax Return

 

INSTRUCTIONS: RHODE ISLAND BUSINESS CORPORATION TAX RETURN (Form RI-1120C)

 

 

C Corporations operating in Rhode Island file their state corporation tax owed using a form RI-1120C. This document can be obtained from the website of the Rhode Island Division of Taxation.

 

Rhode Island Business Corporation Tax Return RI-1120C Step 1: On the right, indicate with a check mark whether you are filing an initial return, a consolidated return, a final return, a short year return or a form documenting an address change.

 

Rhode Island Business Corporation Tax Return RI-1120C Step 2: If you are not filing for a calendar year, give the beginning and ending dates of your fiscal year. Enter your business name and address, as well as your federal employer identification number and telephone number.

 

Rhode Island Business Corporation Tax Return RI-1120C Step 3: Give your gross receipts in box A, your depreciable assets in box B, your total assets in box C, and your Rhode Island Secretary of State identification number in box D.

 

Rhode Island Business Corporation Tax Return RI-1120C Step 4: Enter your federal taxable income on line one. Complete Schedule B and transfer line 2H to line 3 on the first page to determine your total deductions.

 

Rhode Island Business Corporation Tax Return RI-1120C Step 5: Complete Schedule C and transfer the number from line 4F to line 5 on the first page to determine your total additions.

 

Rhode Island Business Corporation Tax Return RI-1120C Step 6: Subtract line 3 from line 1. Add line 5 to the combined sum to determine your adjusted taxable income and enter it on line 6. 

 

Rhode Island Business Corporation Tax Return RI-1120C Step 7: Businesses operating in multiples states should complete Schedule J and lines 7 and 8 to determine their apportioned state taxable income.

 

Rhode Island Business Corporation Tax Return RI-1120C Step 8: Lines 9 through 11 provide instructions for further adjustments.

 

Rhode Island Business Corporation Tax Return RI-1120C Step 9: Calculate your tax owed as instructed on lines 12 and 13. Complete Schedule D to determine your state tax credits and enter the number on line 15.

 

Rhode Island Business Corporation Tax Return RI-1120C Step 10: Follow instructions on lines 16 through 26 to determine your balance due or the refund you are owed. An authorized officer of the company should sign and date the bottom of the first page and provide their title.


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