120A: Arizona Corporation Income Tax Return (Short Form) (2024)
Arizona · Arizona DOR · Used for tax years 2024
Arizona Form 120A is the short-form corporation income tax return for 2024. It reports federal taxable income, Arizona additions and subtractions, tax liability, credits, payments, and any amount due or overpayment.
Who files this form
Form 120A is Arizona’s Corporation Income Tax Return (Short Form) for 2024. The supplied form does not state the general rules for which corporations must file.
Do not use Form 120A for an Arizona combined or consolidated return. Use Form 120 instead.
What you'll need
Have these documents and details ready, as applicable:
- Federal return: Line 1 uses taxable income from the included federal return. The form also asks for the business activity code from federal Form 1120.
- Corporation information: Name, EIN, address, telephone number, and tax year dates.
- Income adjustment details: Amounts needed for Schedule A additions and Schedule B subtractions, including federal and recalculated Arizona depreciation.
- Arizona net operating loss computation: Include a computation schedule if claiming a carryover on line 6.
- Tax credit information: Arizona Form 300 amounts for credit recapture and nonrefundable credits, plus the form numbers for credits used.
- Payment information: Extension payments, estimated tax payments, and any claim of right amount.
- Schedule C information: The date business began in Arizona, location of tax records, audit contact details, accounting method, and prior tax years with finalized federal examinations.
How to file
E-file is required unless the corporation has a waiver or is exempt from e-filing. The form refers to instructions for details, but no instructions were supplied. The supplied form does not give a mailing address.
To complete the return:
- Enter the corporation’s identifying information and select calendar year 2024 or the applicable fiscal year beginning in 2024.
- Complete Schedules A and B, then transfer their totals to page 1 to calculate Arizona taxable income.
- Complete the tax liability, payments, and balance due or overpayment lines.
- Complete Schedule C’s additional information.
- Have the president, treasurer, or another principal officer sign the declaration and enter the date, title, and printed name.
Common mistakes
- Using the short form for an Arizona combined or consolidated return: The form specifically says to use Form 120 instead.
- Marking the revenue-use-only area: Leave that area unmarked.
- Overlooking finalized federal examination changes: Schedule C warns that changes must be reported to the Arizona Department of Revenue under separate cover, or through amended returns, within 90 days after final determination.
Questions people ask
How is the tax on line 8 calculated?
Enter 4.9% of Arizona taxable income on line 7 or $50, whichever is greater.
Can an overpayment be applied to next year’s estimated tax?
Yes. Line 24 lets you apply part or all of the line 23 overpayment to 2025 estimated tax. Line 25 shows the amount to be refunded after subtracting line 24.
What if the federal return was filed on a consolidated basis?
Check “Yes” for question A and list the common parent’s EIN from the consolidated federal return. The form separately warns that an Arizona combined or consolidated return must use Form 120.
What information is required for a final Arizona return?
Check “Yes” for question B, select dissolved, withdrawn, or merged/reorganized, and list the successor corporation’s EIN, if any.