IL-990-T: Exempt Organization Income and Replacement Tax Return (2024)
Illinois · Illinois DOR · Used for tax years 2024
Form IL-990-T is the Illinois Exempt Organization Income and Replacement Tax Return. It reports unrelated business taxable income or loss, calculates Illinois income and replacement taxes, and determines a refund or balance due after credits and payments.
When it's due
For tax year 2024, Form IL-990-T is due on or before the 15th day of the 5th month following the close of the tax year. For employee trusts, it is due on or before the 15th day of the 4th month following the close of the tax year.
The 2024 form is for tax years ending on or after December 31, 2024, and before December 31, 2025. If your return is not for calendar year 2024, enter your fiscal tax year's beginning and ending dates.
What you'll need
- Federal Form 990-T: Attach a copy. Its unrelated business taxable income or loss is used on Line 1.
- Organization information: Have your complete legal business name, mailing address, federal employer identification number (FEIN), and description of your unrelated trade or business. Provide your NAICS code if applicable.
- Tax credit documents, if applicable: Attach Schedule 4255 for recapture of investment credits, Form IL-477 for replacement tax investment credits, and Schedule 1299-D for income tax credits.
- Payment and withholding information: Have the amounts of previous overpayment credits and payments made before filing. Attach Schedules K-1-P or K-1-T for reported pass-through withholding or pass-through entity tax credits, and Forms W-2G for Illinois income tax withholding.
- Other documents, if applicable: Attach a detailed statement if an overpayment carryforward is going to a different FEIN. If mailing a payment, complete Form IL-990-T-V.
- Direct deposit information: To request direct deposit of a refund, provide your routing number, account number, and whether the account is checking or savings.
How to file
Complete the return, attach the required documents, and have an authorized officer sign and date it. Provide the officer's title and phone number.
If no payment is enclosed, mail the return to:
Illinois Department of Revenue
P.O. Box 19009
Springfield, IL 62794-9009
If a payment is enclosed, mail the return to:
Illinois Department of Revenue
P.O. Box 19053
Springfield, IL 62794-9053
If you owe tax on Line 35, the form directs you to make an electronic payment at Tax.Illinois.gov. The supplied text does not provide instructions for electronically filing the return.
If you must mail your payment, complete Form IL-990-T-V. Make your check or money order payable to Illinois Department of Revenue, and write your FEIN, tax year ending, and “IL-990-T-V” on it. Attach the voucher and payment to the front of the return, and enter the payment amount in the space at the top of Page 1.
Common mistakes
- Completing Step 3 when it must be left blank: If the amount on Line 3 is derived only inside Illinois, or you are an Illinois resident trust, check box A above Step 2, carry Line 3 to Line 12, and leave Step 3, Lines 4 through 11, blank.
- Leaving required Step 3 lines blank: If any portion of Line 3 is derived outside Illinois, check box B and complete all lines of Step 3. The form specifically says not to leave Lines 6 through 8 blank.
- Entering negative sales amounts: Total sales everywhere on Line 6 and total sales inside Illinois on Line 7 cannot be negative.
- Using the wrong precision: Step 2 calls for whole dollars only. Round the apportionment factor on Line 8 to six decimal places.
- Entering negative net tax amounts: Enter zero if the result on Line 17 or Line 23 is negative.
- Omitting required information: The form warns that failure to provide required information could result in a penalty.
Questions people ask
Which tax years does this version cover?
The 2024 form covers tax years ending on or after December 31, 2024, and before December 31, 2025. For other situations, the form directs you to the instructions to determine the correct version to use.
Do I need to attach my federal return?
Yes. Line 1 requires a copy of your federal Form 990-T.
What replacement tax rate is printed on the form?
For Line 13, corporations multiply Line 12 by 2.5% (.025), and trusts multiply Line 12 by 1.5% (.015). Later lines account for investment credit recapture and investment credits.
Can I receive my refund by direct deposit?
Yes. Complete Line 34 with your routing number and account number, and select checking or savings.
What should I do if this is my organization's final return?
Check the “Final return” box in Step 1 and enter the date of termination.