I downloaded state tax forms for S-Corp in IL. It correctly stated S-Corp profit (from the federal filing) and then it says my S-Corp has to pay some money to the state of IL. The problem is that in IL S-Corp do not pay taxes and profit gets passed to shareholder, who then pays all taxes.
https://www2.illinois.gov/rev/questionsandanswers/Pages/86.aspx
Is it a software bug for the just released state forms?
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I guess, TurboTax is correct. It is a so called "Personal Property Replacement Tax" assessed on S-Corp income at a flat rate of 1.5%.
So, no income taxes, but sneaky tax on income under another name.
Lenny2020 is correct. look at line 52 on the return.
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