Form 1120-PC(redirected from 1120-PC Form)
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved