Form 1120-PC

Form 1120-PC

A tax return for the income of a casualty and property insurance company. An insurance company files Form 1120-PC to report its revenue, expenses, and profits or losses. It also uses Form 1120-PC 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 ?
Life Insurance Company Income Tax Return; Form 1120-PC, U.
Income Tax Return of a Foreign Corporation; Form 1120-L, Life Insurance Company Income Tax Return; or Form 1120-PC, U.
Finally, if a consolidated group's parent files Form 1120 and any group member files Form 1120-PC, U.