CIT-TAX: Corporate Income Tax Return (2024)
Delaware · Delaware Division of Revenue · Used for tax years 2024
Form CIT-TAX is Delaware’s 2024 Corporation Income Tax Return. It reports federal taxable income, Delaware adjustments and apportionment, tax liability, credits, and payments to calculate a balance due or overpayment.
What you'll need
Attach a completed copy of federal Form 1120 and the appropriate supporting schedules.
The form also calls for these attachments when the listed items apply:
- A statement for other payments reported on line 18.
- A statement for applicable expenses in Schedule 2.
- A statement for gross income from other sources in Schedule 3A.
- A statement for the handicapped accessibility deduction in Schedule 4A.
- Form CIT-SCH for the NBI subtraction in Schedule 4A.
How to file
Complete the return and applicable schedules. Sign and date the officer signature area on page 3, attach the required supporting documents, and keep a copy for your records.
Mail the completed form with any remittance payable to:
Delaware Division of Revenue
PO Box 2044
Wilmington, DE 19899-2044
The form directs you to pay the balance due on line 21 in full.
Common mistakes
The form includes these reminders:
- Attach a completed copy of federal Form 1120.
- Sign your return on page 3.
- Keep a copy for your records.
- Attach the appropriate supporting schedules when filing.
- Attach Form CIT-SCH if reporting the NBI subtraction.
Questions people ask
How is the tax liability calculated?
Multiply Delaware taxable income on line 12 by .087, or 8.7%, and enter the result on line 13.
What if all of the corporation's income comes from Delaware?
If the entire net income on line 5 comes from sources within Delaware, enter that amount on line 11. If it does not all come from Delaware sources, complete lines 6 through 10.
What can I do with an overpayment on the 2024 return?
Line 22b provides a space for the amount to be refunded. Line 22c provides a space for the amount to be credited to 2025 tentative tax.
What if non-refundable tax credits exceed the tax liability?
Line 15 directs you to subtract approved non-refundable tax credits on line 14 from tax liability on line 13. If the result is negative, enter 0.