Form RI-1120S Business Corporation Tax Return

Form RI-1120S Business Corporation Tax Return

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Form RI-1120S Business Corporation Tax Return

 

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

 

 

"S" corporations and Limited Liability Companies operating within Rhode Island use a form RI-1120S to document their state tax owed. This document can be found on the website of the Rhode Island Division of Taxation.

 

Rhode Island Business Corporation Tax Return RI-1120S Step 1: At the top left, check the box next to all applicable descriptions of your return.

 

Rhode Island Business Corporation Tax Return RI-1120S Step 2: If you are filing on a fiscal year basis, enter the starting and ending dates at the top of the form.

 

Rhode Island Business Corporation Tax Return RI-1120S Step 3: Give your business name, address, federal employer identification number and telephone number.

 

Rhode Island Business Corporation Tax Return RI-1120S Step 4: Enter 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 ID number in box D.

 

Rhode Island Business Corporation Tax Return RI-1120S Step 5: Enter your federal taxable income on line 1. 

 

Rhode Island Business Corporation Tax Return RI-1120S Step 6: Complete schedule B on the second page. Transfer the number from line 2D to line 3 on the first page.

 

Rhode Island Business Corporation Tax Return RI-1120S Step 7: Complete schedule C on the second page. Transfer the number from line 4E to line 5 on the first page. 

 

Rhode Island Business Corporation Tax Return RI-1120S Step 8: Subtract line 3 from line 1, then add line 5 to the resulting difference. Enter the result on line 6. 

 

Rhode Island Business Corporation Tax Return RI-1120S Step 9: Complete schedule J if your business operate in multiple states to determine your Rhode Island apportionment ratio. Transfer this rate to line 7 on the first page. Multiply lines 6 and 7 and enter the result on line 8. 

 

Rhode Island Business Corporation Tax Return RI-1120S Step 10: Complete schedule H in order to complete line 9 on the first page. 

 

Rhode Island Business Corporation Tax Return RI-1120S Step 11: Enter all payments already made on line 10. Calculate your balance or refund due as instructed on lines 11 through 17.

 

Rhode Island Business Corporation Tax Return RI-1120S Step 12: An authorized officer of the corporation should sign and date the form and give their title.


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