1120XN: Amended Corporation return for years after 2024 (2025)
Nebraska · Nebraska DOR · Used for tax years 2025
Form 1120XN is the Amended Nebraska Corporation Income Tax Return for tax years after 2024. It reports changes to previously reported income, tax, credits, and payments, and calculates any balance due or refund. It also includes schedules for multistate business apportionment and
Who files this form
Use Form 1120XN to amend a previously filed Nebraska corporation income tax return when:
- The corporation’s federal return or another state’s tax return is amended or corrected.
- Information on the previously filed Nebraska return is incorrect.
The printed instructions also require reporting changes to income or deductions made by the IRS or through renegotiation of a contract with the United States, and final changes by another state to the corporation’s income or tax credits.
This form is for tax years after 2024, including tax year 2025.
What you'll need
Have the original Nebraska return, including any later adjustments, available to complete the “As Originally Reported or As Adjusted” column. Attach documents that support the changes you are making.
Depending on your situation, attachments include:
- Federal or other state changes: A copy of the related amended return, a signed and dated final determination, or proof that the IRS accepted changes on an amended federal return claiming a refund. If an amended federal return is being filed, attach a complete copy of Federal Form 1120X.
- Federal assessment extensions: Copies of executed Federal Forms 872, 872-A, or other federal forms extending the time to assess income taxes.
- Corporate group information: Federal Form 851 or a schedule of affiliated corporations and federal ID numbers if the corporation owns at least 50% of another corporation or is at least 50% owned by another corporation.
- Reporting method: Supporting documentation for a separate report by a controlled-group member, or Department of Revenue approval for an alternate method.
- Loss carryovers: Worksheets supporting Nebraska capital loss and net operating loss carryovers.
- Credits: Applicable forms and schedules, such as Form 3800N, Form TANF, Form PTC, and Schedules K-1N for the PTET credit.
- Other changes: Detailed explanations and supporting schedules for income adjustments. Changes to allocable, nonapportionable income or loss also require supporting evidence and a corporate officer’s affidavit.
If you recalculate the estimated income tax underpayment penalty as allowed by the instructions, attach the recalculated Form 2220N.
How to file
- Enter the taxable year, corporation information, and answers to the applicable questions. Check only one method for determining Nebraska income.
- Complete column A with the original or later-adjusted amounts, column B with the net changes, and column C with the corrected totals. If an amount has not changed, copy column A into column C.
- Explain every column B change in Nebraska Schedule II. Identify the line number, give the reason for the change, and attach supporting forms and schedules. Complete Nebraska Schedule I if the corporation operates both within and outside Nebraska.
- Complete page 2. A corporate officer must sign the return. If someone else is authorized to sign, Form 33, Power of Attorney, must be on file with the Department of Revenue. A paid preparer must also sign and provide a PTIN and EIN.
- Mail the amended return separately from the corporation’s annual income tax return to:
Nebraska Department of Revenue
PO Box 94818
Lincoln, NE 68509-4818
Remit payment electronically if required. If paying electronically, check the payment box on line 40.
Common mistakes
- Leaving the foreign adversarial company question unanswered. The instructions warn that this will cause denial or delay in processing claimed credits. A foreign adversarial company cannot claim Nebraska tax or incentive credits, and credits from such a company are not eligible.
- Missing required electronic payment. The instructions remind taxpayers that some corporations must pay any corporate balance electronically.
- Not providing federal assessment-extension forms. The instructions warn of possible assessment and refund-interest consequences if copies are not provided to the Department of Revenue within 30 days after execution.
- Treating all GILTI or subpart F income as deductible foreign dividends. The instructions note that most of these inclusions are not foreign dividends or deemed foreign dividends. Only the specifically qualifying portion may be deducted, with supporting documentation.
- Using a deposit slip for direct deposit information. The form says to use an actual check or savings account number, not a deposit slip. Omit hyphens, spaces, and special symbols from the account number.
Questions people ask
What Nebraska corporation income tax rate is printed for 2025?
The printed rate is 5.20%. Fiscal-year and short-period filers must use the rate in effect on the first day, or the day deemed to be the first day, of the taxable year being amended.
Can the corporation receive its refund by direct deposit?
Yes. Complete the direct deposit information to have the refund deposited into the corporation’s checking or savings account. Check the indicated box if the refund will go to a bank account outside the United States.
How do I handle an overpayment from the original return?
Enter the original overpayment, as later corrected or adjusted, on line 33. A refund claimed on the original return is refunded separately from any additional refund claimed on the amended return.
Can I request a hearing?
Yes. If you want a hearing, request it when you file the amended return.
Can I opt out of email contact?
Yes. Write “Opt Out” on the email address line if you do not want the Department of Revenue to contact you by email.