Form 1120-L

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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 ?
1) For the purpose of this article, taxable corporations are corporations that file the following types of returns: Form 1120, Form 1120-A, Form 1120F, Form 1120L, and Form 1120-PC.
Property and Casualty Insurance Company Income Tax Return, and Form 1120L, U.
Property and casualty insurance companies use Form 1120PC, and life insurance companies use Form 1120L.
The IRS should clarify whether individual insurance companies must prepare a Schedule M-3 and if so, must revise the Form 1120L and 1120PC tax returns accordingly.
Income Tax Return of a Foreign Corporation, they also include data on foreign insurance companies from Form 1120L, U.
The statistics also include data on foreign insurance companies filing on Form 1120L, U.