Form 1120sn – Nebraska S Corporation Income Tax Return (2024)

Form 1120‑SN – Nebraska S Corporation Income Tax Return

Last reviewed: 2025‑10‑26

Use the Form 1120sn: Form 1120‑SN – Nebraska S Corporation Income Tax Return Tax Form Calculator Form 1120sn: Form 1120‑SN – Nebraska S Corporation Income Tax Return as a stand alone tax form calculator to quickly calculate specific amounts for your 2026 1120sn state tax return. Alternatively, you can use one of our Combined Federal and State Tax Estimators to quickly calculate your salary, tax, and take-home pay.

Form 1120‑SN is the Nebraska state income tax return filed by S corporations doing business or deriving income from Nebraska. This return reflects Nebraska’s adjustments to federal S corporation income and incorporates Nebraska‑specific schedules such as Schedule I for multistate apportionment and Schedule II for nonresident individuals’ shares of Nebraska income.

Important features of Form 1120‑SN:

Apportionment requirement: Schedule I is used when the S corporation has activity in multiple states to determine the Nebraska portion of income.

Nonresident shareholder allocation: Schedule II tracks the share of Nebraska income attributable to nonresident shareholders and may require withholding.

Shareholder transparency: Because S corporations pass income to shareholders, the Nebraska return must align with federal Schedule K‑1 and state modifications.

E‑file deadlines: Nebraska typically follows the federal due date for S corporation returns—March 15 for calendar year filers—with possible extensions.

Foreign Operations of U.S. Corporations

Name

Employer identification number (EIN)

Foreign Operations Information

Yes

During the tax year, did the corporation own (directly or indirectly) any foreign entity that was disregarded as an entity separate from its owner under Regulations sections 301.7701-2 and 301.7701-3 (see instructions)?

If “Yes,” you are generally required to attach Form 8858, Information Return of U.S. Persons With Respect to Foreign Disregarded Entities, for each foreign disregarded entity (see instructions).

Enter the number of Forms 8858 attached to the tax return ▸

Enter the number of Forms 8865, Return of U.S. Persons With Respect to Certain Foreign Partnerships, attached to the corporation’s income tax return ▸

Excluding any partnership for which a Form 8865 is attached to the tax return, did the corporation own at least a 10% interest, directly or indirectly, in any other foreign partnership (including an entity treated as a foreign partnership under Regulations section 301.7701-2 or 301.7701-3)?

If “Yes,” see instructions for required statement.

Was the corporation a U.S. shareholder of any controlled foreign corporation (CFC)? (See sections 951 and 957.)

If “Yes,” attach Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations, for each CFC.

Enter the number of Forms 5471 attached to the tax return ▸

During the tax year, did the corporation receive a distribution from, or was it the grantor of, or transferor to, a foreign trust?

If “Yes,” the corporation may have to file Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts.

At any time during the 2016 calendar year, did the corporation have an interest in or a signature or other authority over a financial account (such as a bank account, securities account, or other financial account) in a foreign country?

See the instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).

If “Yes,” enter the name of the foreign country ▸

Is the corporation claiming the extraterritorial income exclusion?

If “Yes,” attach a separate Form 8873, Extraterritorial Income Exclusion, for each transaction or group of transactions.

Enter the number of Forms 8873 attached to the tax return ▸

Enter the total of the amounts from line 52 (extraterritorial income exclusion (net of disallowed deductions)) of all Forms 8873 attached to the tax return ▸ $

Was the corporation a specified domestic entity required to file Form 8938 for the tax year (see the Instructions for Form 8938)?

While completing Form 1120‑SN, S corporations should ensure accuracy in multistate factor calculations on Schedule I and validate that each nonresident shareholder’s portion aligns with Schedule II. Misalignment or omission can lead to state audit adjustments, late‑filing penalties, or taxpayer liability for withholding.

Last reviewed: 2025‑10‑26: If you believe this form requires an update, please contact us.

Best practices for S corporations filing in Nebraska include maintaining integrated federal‑to‑state workpapers, coordinating with payroll and withholding for nonresident shareholders, and conducting a pre‑file review of apportionment factors. Early review ensures you meet Nebraska requirements efficiently and avoid alignment issues between federal and state filings.

Frequently Asked Questions

Can I estimate the General Business Credit?

Start with Form 3800 and then reflect the credit here.

How much would a 401(k) contribution change my net?

Model it with the 401(k) Calculator then rerun this page with your pre-tax amount.

Considering an IRS Offer in Compromise?

Read through Form 656-B to understand eligibility and steps.

What does FICA include?

FICA includes Social Security and Medicare payroll taxes withheld from employee wages.

Is there a quick pay-frequency comparison?

Yes—switch frequency on this page; for employer filings see 941 vs 944.

Important Notes

All calculations are estimates for guidance only. Always review your return and consider professional advice when submitting official filings.

Form 1120‑SN – Nebraska S Corporation Income Tax Return