INSTRUCTIONS: NEBRASKA S CORPORATION INCOME TAX RETURN (Form 1120-SN)

S corporations doing business in Nebraska should file and document their state income taxes owed with a form 1120-SN. This document can be obtained from the website of the Nebraska Department of Revenue.

Nebraska S Corporation Income Tax Return 1120-SN Step 1: If not filing on a calendar year basis, give your fiscal year start and end dates.

Nebraska S Corporation Income Tax Return 1120-SN Step 2: Enter your business dba name, legal name, street, city, state and zip code.

Nebraska S Corporation Income Tax Return 1120-SN Step 3: Enter your business classification code and the date on which you began doing business in Nebraska.

Nebraska S Corporation Income Tax Return 1120-SN Step 4: Enter your principal business activity in Nebraska, federal and Nebraska ID numbers, and indicate with a check mark whether your S corporation has nonresident individual shareholders. If this is the case, you will also need to complete a separate Schedule III.

Nebraska S Corporation Income Tax Return 1120-SN Step 5: Indicate with a check mark if you are filing an initial, final or amended return, one documenting a change in address, or one with a form 7004 or 3800N attached.

Nebraska S Corporation Income Tax Return 1120-SN Step 6: Enter your ordinary business income on line 1.

Nebraska S Corporation Income Tax Return 1120-SN Step 7: Enter state adjustments increasing ordinary business income on line 2 and state adjustments decreasing ordinary income on line 3.

Nebraska S Corporation Income Tax Return 1120-SN Step 8: Subtract line 3 from the sum of lines 1 and 2.

Nebraska S Corporation Income Tax Return 1120-SN Step 9: Enter the value on line 4 in line 5 unless filing as a corporation acting on a multistate basis. If this is the case, you must complete Schedule I on the second page to determine your apportionment factor. Enter this on line 5.

Nebraska S Corporation Income Tax Return 1120-SN Step 10: Calculate your tax owed as instructed on lines 6 through 13.

Nebraska S Corporation Income Tax Return 1120-SN Step 11: If you have overpaid, document whether you wish to receive a refund or a credit for the next tax year on lines 14 through 16. An officer should sign and date the form, as well as providing their title, telephone number and email address.