Form 1120-L

Form 1120-L

A tax return for the income of a life insurance company. A life insurance company files Form 1120-L to report its revenue, expenses, and profits or losses. It also uses Form 1120-L to claim deductions and credits, which is especially important in the United States because corporate tax rates historically have been high compared to other countries.
References in periodicals archive ?
Recent research has shown that the value for tax net income derived from Schedule M-1 can differ from line 28 due to the presence of intercompany dividends, the imputation of Schedule M-1 lines 1 and 2 for businesses filing Form 1120-L, and returns filed with a blank Schedule M-1 [4].
While life insurance companies are included in the tabulations, Form 1120-L does not include a Schedule M-1, and these returns will report a book-tax difference in the aggregate.
Property and Casualty Insurance Company Income Tax Return, or Form 1120-L, U.