Form
1120
Department of the Treasury
Internal Revenue Service
U.S. Corporation Income Tax Return
For calendar year 2010 or tax year beginning
, 2010, ending
, 20
â–¶
See separate instructions.
OMB No. 1545-0123
20
10
Print
or
type
Name
Number, street, and room or suite no. If a P.O. box, see instructions.
City or town, state, and ZIP code
A Check if:
1a
Consolidated return
(attach Form 851)
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b
Life/nonlife consoli-
dated return .
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2
Personal holding co.
(attach Sch. PH) .
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3
Personal service corp.
(see instructions) .
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4
Schedule M-3 attached
B Employer identification number
C
Date incorporated
D
Total assets (see instructions)
$
E
Check if:
(1)
Initial return
(2)
Final return
(3)
Name change
(4)
Address change
Income
1a
Gross receipts or sales
b
Less returns and allowances
c
Bal
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1c
2
Cost of goods sold (Schedule A, line 8) .
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2
3
Gross profit. Subtract line 2 from line 1c .
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3
4
Dividends (Schedule C, line 19)
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4
5
Interest
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5
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Gross rents .
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7
Gross royalties .
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7
8
Capital gain net income (attach Schedule D (Form 1120)) .
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8
9
Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797)
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9
10
Other income (see instructions—attach schedule) .
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10
11
Total income.
Add lines 3 through 10
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11
Deductions
(See instructions for limitations on deductions.)
12
Compensation of officers (Schedule E, line 4)
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12
13
Salaries and wages (less employment credits)
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13
14
Repairs and maintenance .
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14
15
Bad debts .
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15
16
Rents .
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16
17
Taxes and licenses .
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17
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Interest
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19
Charitable contributions .
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19
20
Depreciation from Form 4562 not claimed on Schedule A or elsewhere on return (attach Form 4562)
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21
Depletion .
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21
22
Advertising
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22
23
Pension, profit-sharing, etc., plans
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23
24
Employee benefit programs
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24
25
Domestic production activities deduction (attach Form 8903) .
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Other deductions (attach schedule) .
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26
27
Total deductions.
Add lines 12 through 26 .
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27
28
Taxable income before net operating loss deduction and special deductions. Subtract line 27 from line 11.
28
29
Less: a
Net operating loss deduction (see instructions) .
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29a
b
Special deductions (Schedule C, line 20) .
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29b
29c
Tax, Refundable Credits, and Payments
30
Taxable income.
Subtract line 29c from line 28 (see instructions) .
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30
31
Total tax
(Schedule J, line 10) .
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31
32a
2009 overpayment credited to 2010 .
32a
b
2010 estimated tax payments .
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32b
c
2010 refund applied for on Form 4466
32c
(
)
d Bal
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32d
e
Tax deposited with Form 7004 .
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32e
f
Credits:
(1)
Form 2439
(2)
Form 4136
32f
g
Refundable credits from Form 3800, line 19c, and Form 8827, line 8c .
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32g
32h
33
Estimated tax penalty (see instructions). Check if Form 2220 is attached
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33
34
Amount owed.
If line 32h is smaller than the total of lines 31 and 33, enter amount owed .
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34
35
Overpayment.
If line 32h is larger than the total of lines 31 and 33, enter amount overpaid .
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35
36
Enter amount from line 35 you want:
Credited to 2011 estimated tax
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Refunded
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36
Sign
Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct,
and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
â–˛
Signature of officer
Date
â–˛
Title
May the IRS discuss this return
with the preparer shown below
(see instructions)?
Yes
No
Paid
Preparer
Use Only
Print/Type preparer’s name
Preparer's signature
Date
Check if
self-employed
PTIN
Firm’s name
â–¶
Firm's EIN
â–¶
Firm's address
â–¶
Phone no.
For Paperwork Reduction Act Notice, see separate instructions.
Cat. No. 11450Q
Form
1120
(2010)
Form 1120 (2010)
Page
2
Schedule A
Cost of Goods Sold
(see instructions)
1
Inventory at beginning of year .
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1
2
Purchases .
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2
3
Cost of labor .
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3
4
Additional section 263A costs (attach schedule) .
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4
5
Other costs (attach schedule) .
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5
6
Total.
Add lines 1 through 5 .
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6
7
Inventory at end of year .
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7
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and on page 1, line 2 .
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8
9a
Check all methods used for valuing closing inventory:
(i)
Cost
(ii)
Lower of cost or market
(iii)
Other (Specify method used and attach explanation.)
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b
Check if there was a writedown of subnormal goods
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c
Check if the LIFO inventory method was adopted this tax year for any goods (if checked, attach Form 970)
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d
If the LIFO inventory method was used for this tax year, enter percentage (or amounts) of closing
inventory computed under LIFO
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9d
e
If property is produced or acquired for resale, do the rules of section 263A apply to the corporation? .
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Yes
No
f
Was there any change in determining quantities, cost, or valuations between opening and closing inventory? If “Yes,”
attach explanation
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Yes
No
Schedule C
Dividends and Special Deductions
(see instructions)
(a)
Dividends
received
(b)
%
(c)
Special deductions
(a)
Ă—
(b)
1
Dividends from less-than-20%-owned domestic corporations (other than debt-financed
stock) .
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2
Dividends from 20%-or-more-owned domestic corporations (other than debt-financed
stock) .
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80
3
Dividends on debt-financed stock of domestic and foreign corporations .
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see
instructions
4
Dividends on certain preferred stock of less-than-20%-owned public utilities
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42
5
Dividends on certain preferred stock of 20%-or-more-owned public utilities .
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48
6
Dividends from less-than-20%-owned foreign corporations and certain FSCs .
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70
7
Dividends from 20%-or-more-owned foreign corporations and certain FSCs
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80
8
Dividends from wholly owned foreign subsidiaries .
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100
9
Total.
Add lines 1 through 8. See instructions for limitation
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10
Dividends from domestic corporations received by a small business investment
company operating under the Small Business Investment Act of 1958
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100
11
Dividends from affiliated group members .
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100
12
Dividends from certain FSCs
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100
13
Dividends from foreign corporations not included on lines 3, 6, 7, 8, 11, or 12 .
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14
Income from controlled foreign corporations under subpart F (attach Form(s) 5471)
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15
Foreign dividend gross-up .
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16
IC-DISC and former DISC dividends not included on lines 1, 2, or 3 .
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17
Other dividends .
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18
Deduction for dividends paid on certain preferred stock of public utilities
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19
Total dividends.
Add lines 1 through 17. Enter here and on page 1, line 4 .
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20
Total special deductions.
Add lines 9, 10, 11, 12, and 18. Enter here and on page 1, line 29b .
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Schedule E
Compensation of Officers
(see instructions for page 1, line 12)
Note:
Complete Schedule E only if total receipts (line 1a plus lines 4 through 10 on page 1) are $500,000 or more.
(a)
Name of officer
(b)
Social security number
(c)
Percent of
time devoted to
business
Percent of corporation stock owned
(d)
Common
(e)
Preferred
(f)
Amount of compensation
1
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
2
Total compensation of officers .
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3
Compensation of officers claimed on Schedule A and elsewhere on return .
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4
Subtract line 3 from line 2. Enter the result here and on page 1, line 12 .
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Form
1120
(2010)
Form 1120 (2010)
Page
3
Schedule J
Tax Computation
(see instructions)
1
Check if the corporation is a member of a controlled group (attach Schedule O (Form 1120)) .
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2
Income tax. Check if a qualified personal service corporation (see instructions) .
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2
3
Alternative minimum tax (attach Form 4626) .
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3
4
Add lines 2 and 3 .
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4
5 a
Foreign tax credit (attach Form 1118) .
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5a
b
Credit from Form 8834, line 29 .
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5b
c
General business credit (attach Form 3800) .
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5c
d
Credit for prior year minimum tax (attach Form 8827) .
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5d
e
Bond credits from Form 8912 .
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5e
6
Total credits.
Add lines 5a through 5e
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6
7
Subtract line 6 from line 4 .
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7
8
Personal holding company tax (attach Schedule PH (Form 1120)) .
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8
9
Other taxes. Check if from:
Form 4255
Form 8611
Form 8697
Form 8866
Form 8902
Other (attach schedule)
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9
10
Total tax.
Add lines 7 through 9. Enter here and on page 1, line 31 .
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10
Schedule K
Other Information
(see instructions)
1
Check accounting method:
a
Cash
b
Accrual
c
Other (specify)
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Yes
No
2
See the instructions and enter the:
a
Business activity code no.
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b
Business activity
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c
Product or service
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3
Is the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group?
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If “Yes,” enter name and EIN of the parent corporation
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4
At the end of the tax year:
a
Did any foreign or domestic corporation, partnership (including any entity treated as a partnership), trust, or tax-exempt
organization own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of the
corporation’s stock entitled to vote? If "Yes," complete Part I of Schedule G (Form 1120) (attach Schedule G) .
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b
Did any individual or estate own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all
classes of the corporation’s stock entitled to vote? If "Yes," complete Part II of Schedule G (Form 1120) (attach Schedule G) .
5
At the end of the tax year, did the corporation:
a
Own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of stock entitled to vote of
any foreign or domestic corporation not included on
Form 851,
Affiliations Schedule? For rules of constructive ownership, see instructions
If “Yes,” complete (i) through (iv).
(i)
Name of Corporation
(ii)
Employer
Identification Number
(if any)
(iii)
Country of
Incorporation
(iv)
Percentage
Owned in Voting
Stock
Form
1120
(2010)
Form 1120 (2010)
Page
4
Schedule K
Continued
b
Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in any foreign or domestic partnership
(including an entity treated as a partnership) or in the beneficial interest of a trust? For rules of constructive ownership, see instructions
If “Yes,” complete (i) through (iv).
No
Yes
(i)
Name of Entity
(ii)
Employer
Identification Number
(if any)
(iii)
Country of
Organization
(iv)
Maximum
Percentage Owned in
Profit, Loss, or Capital
6
During this tax year, did the corporation pay dividends (other than stock dividends and distributions in exchange for stock) in
excess of the corporation’s current and accumulated earnings and profits? (See sections 301 and 316.) .
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If "Yes," file
Form 5452,
Corporate Report of Nondividend Distributions.
If this is a consolidated return, answer here for the parent corporation and on Form 851 for each subsidiary.
7
At any time during the tax year, did one foreign person own, directly or indirectly, at least 25% of
(a)
the total voting power of all
classes of the corporation’s stock entitled to vote or
(b)
the total value of all classes of the corporation’s stock?
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.
For rules of attribution, see section 318. If “Yes,” enter:
(i)
Percentage owned
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and
(ii)
Owner’s country
â–¶
(c)
The corporation may have to file
Form 5472,
Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign
Corporation Engaged in a U.S. Trade or Business. Enter the number of Forms 5472 attached
â–¶
8
Check this box if the corporation issued publicly offered debt instruments with original issue discount .
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â–¶
If checked, the corporation may have to file
Form 8281,
Information Return for Publicly Offered Original Issue Discount Instruments.
9
Enter the amount of tax-exempt interest received or accrued during the tax year
â–¶
$
10
Enter the number of shareholders at the end of the tax year (if 100 or fewer)
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11
If the corporation has an NOL for the tax year and is electing to forego the carryback period, check here .
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If the corporation is filing a consolidated return, the statement required by Regulations section 1.1502-21(b)(3) must be attached
or the election will not be valid.
12
Enter the available NOL carryover from prior tax years (do not reduce it by any deduction on line 29a.)
â–¶
$
13
Are the corporation’s total receipts (line 1a plus lines 4 through 10 on page 1) for the tax year
and
its total assets at the end of
the tax year less than $250,000? .
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If “Yes,” the corporation is not required to complete Schedules L, M-1, and M-2 on page 5. Instead, enter the total amount of cash
distributions and the book value of property distributions (other than cash) made during the tax year.
â–¶
$
14
Is the corporation required to file Schedule UTP (Form 1120), Uncertain Tax Position Statement (see instructions)? .
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If “Yes,”
complete and attach Schedule UTP.
Form
1120
(2010)
Form 1120 (2010)
Page
5
Schedule L
Balance Sheets per Books
Beginning of tax year
End of tax year
( )
( )
( )
( )
( )
( )
( )
( )
( )
( )
Assets
(a)
(b)
(c)
(d)
1
Cash
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2a
Trade notes and accounts receivable .
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b
Less allowance for bad debts .
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3
Inventories .
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4
U.S. government obligations
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5
Tax-exempt securities (see instructions) .
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6
Other current assets (attach schedule) .
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7
Loans to shareholders
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8
Mortgage and real estate loans .
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9
Other investments (attach schedule) .
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10a
Buildings and other depreciable assets
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b
Less accumulated depreciation .
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11a
Depletable assets .
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b
Less accumulated depletion .
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12
Land (net of any amortization) .
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13a
Intangible assets (amortizable only)
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b
Less accumulated amortization .
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14
Other assets (attach schedule) .
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15
Total assets
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Liabilities and Shareholders’ Equity
16
Accounts payable .
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17
Mortgages, notes, bonds payable in less than 1 year
18
Other current liabilities (attach schedule) .
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19
Loans from shareholders .
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20
Mortgages, notes, bonds payable in 1 year or more
21
Other liabilities (attach schedule) .
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22
Capital stock:
a
Preferred stock .
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b
Common stock .
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23
Additional paid-in capital .
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24
Retained earnings—Appropriated (attach schedule)
25
Retained earnings—Unappropriated .
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26
Adjustments to shareholders’ equity (attach schedule)
27
Less cost of treasury stock .
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28
Total liabilities and shareholders’ equity .
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Schedule M-1
Reconciliation of Income (Loss) per Books With Income per Return
Note:
Schedule M-3 required instead of Schedule M-1 if total assets are $10 million or more—see instructions
1
Net income (loss) per books .
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2
Federal income tax per books .
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3
Excess of capital losses over capital gains
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4
Income subject to tax not recorded on books
this year (itemize):
5
Expenses recorded on books this year not
deducted on this return (itemize):
a
Depreciation .
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. $
b
Charitable contributions . $
c
Travel and entertainment . $
6
Add lines 1 through 5 .
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7
Income recorded on books this year
not included on this return (itemize):
Tax-exempt interest $
8
Deductions on this return not charged
against book income this year (itemize):
a
Depreciation .
.
$
b
Charitable contributions $
9
Add lines 7 and 8 .
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10
Income (page 1, line 28)—line 6 less line 9
Schedule M-2
Analysis of Unappropriated Retained Earnings per Books (Line 25, Schedule L)
1
Balance at beginning of year
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2
Net income (loss) per books .
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3
Other increases (itemize):
4
Add lines 1, 2, and 3 .
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5
Distributions:
a
Cash
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b
Stock .
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c
Property
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6
Other decreases (itemize):
7
Add lines 5 and 6 .
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8
Balance at end of year (line 4 less line 7)
Form
1120
(2010)