Instructions for Form IL-1120 Schedule UB / NLD Unitary Illinois Net Loss Deduction - Illinois

Instructions for Form IL-1120 Schedule UB / NLD Unitary Illinois Net Loss Deduction - Illinois

This document contains official instructions for Form IL-1120 Schedule UB/NLD, Unitary Illinois Net Loss Deduction - a form released and collected by the Illinois Department of Revenue.

FAQ

Q: What is Form IL-1120 Schedule UB/NLD?
A: Form IL-1120 Schedule UB/NLD is a specific form used in Illinois for reporting unitary Illinois net loss deductions.

Q: What is a unitary Illinois net loss deduction?
A: A unitary Illinois net loss deduction is a deduction applied to losses incurred in Illinois in a unitary business group.

Q: Who needs to file Form IL-1120 Schedule UB/NLD?
A: Businesses that are part of a unitary business group and have incurred losses in Illinois are required to file Form IL-1120 Schedule UB/NLD.

Q: What information is required on this form?
A: The form requires details about the unitary business group, such as the names and identification numbers of all entities included in the group.

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Instruction Details:

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  • Might not be applicable for the current year. Choose a more recent version;
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