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Forum Topic - IL s-corp replacement tax in 1120-st for single owner employee


User NameResponse
Mar 09 2016 03:46 PM
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Anonymous
Subject: IL s-corp replacement tax in 1120-st for single owner employee


IL s-corp replacement tax treatment in 1120-st for single owner employee.
I know it is 1.5% of business income.
question is how is this included in 1120-st as well as schedule K-1-P
does the owner gets credit for replacement tax on his/her 1040 for this tax. if so where on federal and state 1040

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