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Form 1120-ND Renton Washington: What You Should Know

This worksheet allows you to determine how much tax you owe. You will owe the following due dates (as shown on Form 1120-N): February 15 โ€“ October 15, 2019, February 15 โ€“ August 30, 2019, February 15 โ€“ June 30, 2019, February 15 โ€“ May 30, 2019, February 15 โ€“ April 30, 2019, October 15 โ€“ June 15, 2020, May 15 โ€“ April 30, 2021, May 15 โ€“ April 30, 2023 May 15 โ€“ June 15, 2031 May 15 โ€“ June 31, 2031 May 15 โ€“ August 15, 2030 May 15 โ€“ June 15, 2033 Tax Deductions โ€” Renton, WA A deduction or credit you can claim on Form 1120-ND, Return for Nuclear Decommissioning funds used to purchase property of any type in Seattle, King County, or any of the State of Washington is based on the original cost of the property less estimated adjustments. There are five possible types of adjustment to determine: ยท Cash (e.g., down payment, appraisal) ยท Refinancing (e.g., mortgage payment, down payment, or closing costs) ยท Sale price (e.g., cash, closing costs) ยท Capitalized Land Development Charges (e.g., land price, appraisal, land costs) The amount of adjustment that can be claimed is the amount of the original cost less any adjustments; the greater the adjustment, the greater the amount of reduction in basis to be claimed. The amount of adjustment you can claim will automatically increase or decrease based on the percentage of increase or decrease in capitalized land development charges that were allowed under the plan. There is a maximum amount that can be claimed on the form.

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