US Internal Revenue Service: f1120pc - 2000
US Internal Revenue Service: f1120pc - 2000
US Internal Revenue Service: f1120pc - 2000
1545-1027
(1) 953(c)(3)(C)
City or town, state, and ZIP code D Check if a consolidated return
(2) 953(d) (Attach Form 851)
E Check if: (1) Final return (2) Change of address (3) Amended return
1 Taxable income (Schedule A, line 37) 1
2 Taxable investment income for electing small companies (Schedule B, line 21) 2
3 Check if a member of a controlled group (see sections 1561 and 1563)
Important: Members of a controlled group, see instructions on page 6.
a If the box on line 3 is checked, enter the corporation’s share of the $50,000, $25,000, and $9,925,000 taxable income
brackets (in that order): (1) $ (2) $ (3) $
b Enter the corporation’s share of: (1) additional 5% tax (not to exceed $11,750) $
(2) additional 3% tax (not to exceed $100,000) $
4 Income tax 4
5 Enter amount of tax that a reciprocal must include 5
6 Alternative minimum tax (attach Form 4626) 6
7 Total. Add lines 4 through 6 7
8a Foreign tax credit (attach Form 1118) 8a
b Other credits (see page 7 of instructions) 8b
c General business credit. Enter here and check which forms are attached:
Tax Computation and Payments
Paid
Preparer’s
signature Date
Check if
self-employed
Preparer’s SSN or PTIN
Preparer’s Firm’s name (or EIN
Use Only yours if self-employed),
address, and ZIP code Phone no. ( )
3a Gross interest
18 Rents 18
19 Taxes and licenses 19
20a Interest b Less tax-exempt interest exp. c Bal. 20c
21 Charitable contributions (see page 11 of instructions for 10% limitation) 21
22 Depreciation (attach Form 4562) 22
23 Depletion 23
24 Pension, profit-sharing, etc., plans 24
25 Employee benefit programs 25
26 Losses incurred (Schedule F, line 14) 26
27 Additional deduction (attach Form 8816) 27
28 Other capital losses (Schedule G, line 12, column (g)) 28
29 Dividends to policyholders 29
30 Mutual interinsurers or reciprocal underwriters—increase in subscriber accounts 30
31 Other deductions (See page 12 of instructions) (attach schedule) 31
32 Total deductions. Add lines 15 through 31 32
33 Subtotal. Subtract line 32 from line 14 33
37 Taxable income (subtract line 36c from line 35). Enter here and on page 1, line 1 37
Form 1120-PC (2000)
Form 1120-PC (2000) 3 Page
Schedule B Part I—Taxable Investment Income of Electing Small Companies—Section 834 (See page 13 of
instructions.)
(b) Amortization of
(a) Interest received premium
1a Gross interest
14 Interest 14
15 Other capital losses (Schedule G, line 12, column (g)) 15
16 Total. Add lines 9 through 15 16
17 Investment expenses (attach schedule) 17
18 Total deductions. Add lines 16 and 17 18
19 Subtract line 18 from line 8 19
20 Dividends-received deduction (Schedule C, line 25) 20
21 Taxable investment income. Subtract line 20 from line 19. Enter here and on page 1, line 2 21
Part II—Invested Assets Book Values
(Complete only if claiming a deduction for general expenses allocated to investment income.)
(a) Beginning of tax year (b) End of tax year
22 Real estate 22
23 Mortgage loans 23
24 Collateral loans 24
25 Policy loans, including premium notes 25
26 Bonds of domestic corporations 26
27 Stock of domestic corporations 27
28 Government obligations, etc. 28
29 Bank deposits bearing interest 29
30 Other interest-bearing assets (attach schedule) 30
31 Total. Add lines 22 through 30 31
32 Add columns (a) and (b), line 31 32
33 Mean of invested assets for the tax year. Enter one-half of line 32 33
34 Multiply line 33 by .0025 34
35 Income base. Line 1b, column (a) plus line 8 less the sum of line 1b, column
(b) and line 16 35
36 Multiply line 33 by .0375 36
37 Subtract line 36 from line 35. Do not enter less than zero 37
38 Multiply line 37 by .25 38
11 Income from controlled foreign corporations under subpart F (attach Forms 5471) 11
14 Total dividends. Add lines 1 through 13. Enter here and on Schedule A, line 2, or
Schedule B, line 2, whichever applies 14
Dividends-Received Deduction
24 Total. Add line 23, column (a), and line 9, column (a). Enter here and on Schedule
F, line 10 24
25 Total deductions. Add line 23, column (b), and line 9, column (b). Enter here and on Schedule A, line 36a,
or Schedule B, line 20, whichever applies 25
Form 1120-PC (2000)
Form 1120-PC (2000) Page 5
Schedule E Premiums Earned—Section 832 (See page 15 of instructions.)
7 Premiums earned. Add lines 5 and 6. Enter here and on Schedule A, line 1 7
11 The increase in policy cash value of section 264(f) policies as defined in section
805(a)(4)(F) 11
12 Total. Add lines 9, 10 and 11 12
13 Reduction of deduction under section 832(b)(5)(B). Multiply line 12 by .15 13
14 Losses incurred deductible under section 832(c)(4). Subtract line 13 from line 8. Enter here and on
Schedule A, line 26 14
Form 1120-PC (2000)
Form 1120-PC (2000) Page 6
Schedule G Other Capital Losses (See page 16 of instructions.)
(Capital assets sold or exchanged to meet abnormal insurance losses and to pay dividends and similar
distributions to policyholders.)
1 Dividends and similar distributions paid to policyholders 1
2 Losses paid 2
3 Expenses paid 3
4 Total. Add lines 1, 2, and 3 4
Note: Adjust lines 5 through 8 to cash method if necessary.
5 Interest received 5
6 Dividends received (Schedule C, line 14) 6
7 Gross rents, gross royalties, lease income, etc., and gross income from a trade
or business other than an insurance business including income from Form
4797 (include gains for invested assets only) 7
8 Net premiums received 8
9 Total. Add lines 5 through 8 9
10 Limitation on gross receipts from sales of capital assets. Line 4 less line 9. If zero or less, enter -0- 10
(a) Description of capital (b) Date (c) Gross (d) Cost or (e) Expense (g) Loss
(f) Depreciation allowed
sales price other basis ((d) plus (e) less
asset acquired of sale (or allowable) the sum of (c) and (f))
11
6 Special deduction. Subtract line 5 from line 4. If zero or less, enter -0-. Enter here and on Schedule A, line
34a. (See page 17 of instructions for limitation.) 6
7 Net operating loss deduction (Schedule A, line 36b) 7
8 Net exempt income:
a Adjusted tax-exempt income 8a
b Adjusted dividends-received deduction 8b
9 Taxable income (Schedule A, line 37) 9
a Cash
b Accrual b Enter owner’s country
c Other (specify)
2 Check box for kind of company: c The corporation may have to file Form 5472,
Information Return of a 25% Foreign-owned U.S.
a Mutual
Corporation or a Foreign Corporation Engaged in
b Stock a U.S. Trade or Business. Enter number of Forms
5472 attached
3 At the end of the tax year, did the corporation own,
directly or indirectly, 50% or more of the voting 7 Has the corporation elected to use its own payout
stock of a domestic corporation? (For rules of pattern for discounting unpaid losses and unpaid
attribution, see section 267(c).) loss adjustment expenses?
If “Yes,” attach a schedule showing: 8a Enter the total unpaid losses shown on the
(a) name and identification number; corporation’s annual statement:
(b) percentage owned; and (c) taxable income or
(1) for the current tax year: $
(loss) before NOL and special deductions of such
corporation for the tax year ending with or within (2) for the previous tax year: $
your tax year. b Enter the total unpaid loss adjustment expenses
4 Is the corporation a subsidiary in an affiliated group shown on the corporation’s annual statement:
or a parent-subsidiary controlled group? (1) for the current tax year: $
If “Yes,” enter employer identification number and (2) for the previous tax year: $
name of the parent corporation 9 Does the corporation discount any of the loss
reserves shown on its annual statement?
10 Enter the amount of tax-exempt interest received or
5 At the end of the tax year, did any individual, accrued during the tax year $
partnership, corporation, estate, or trust own, directly
or indirectly, 50% or more of the corporation’s voting 11 If the corporation has an NOL for the tax year
stock? (For rules of attribution, see section 267(c).) and is electing to forgo the carryback period,
If “Yes,” attach a schedule showing name and check here
identifying number. (Do not include any information
already entered in 4 above.)
12 Enter the available NOL carryover from prior tax
Enter percentage owned years (Do not reduce it by any deduction on
6 At anytime during the tax year, did one foreign line 36b, Schedule A.) $
person own, directly or indirectly, at least 25% of:
(a) the total voting power of all classes of stock of
the corporation entitled to vote, or (b) the total value
of all classes of stock of the corporation? If “Yes,”
Note: If the corporation had assets or operated a business in a foreign country or U.S. possession, it may be required to attach Schedule N (Form
1120), Foreign Operations of U.S. Corporations, to this return. See Schedule N for details.
Form 1120-PC (2000)
Form 1120-PC (2000) Page 8
Schedule L Balance Sheets per Books (All filers are required to complete this schedule.)
Beginning of tax year End of tax year
Assets (a) (b) (c) (d)
1 Cash
2a Trade notes and accounts receivable
b Less allowance for bad debts ( ) ( )
3 Inventories
4 U.S. government obligations
5 Tax-exempt securities (see page 18 of instructions)
6 Other current assets (attach schedule)
7 Loans to shareholders
8 Mortgage and real estate loans
9 Other investments (attach schedule)
10a Buildings and other depreciable assets
b Less accumulated depreciation ( ) ( )
11a Depletable assets
b Less accumulated depletion ( ) ( )
12 Land (net of any amortization)
13a Intangible assets (amortizable only)
b Less accumulated amortization ( ) ( )
14 Other assets (attach schedule)
15 Total assets
Liabilities and Shareholders’ Equity
16 Accounts payable
17 Mortgages, notes, bonds payable in less than 1 year
18 Insurance liabilities (See page 18 of instructions)
19 Other current liabilities (attach schedule)
20 Loans from shareholders
21 Mortgages, notes, bonds payable in 1 year or more
22 Other liabilities (attach schedule)
23 Capital stock: a Preferred stock
b Common stock
24 Additional paid-in capital
25 Retained earnings—Appropriated (attach schedule)
26 Retained earnings—Unappropriated
27 Adjustments to shareholders’ equity (attach schedule)
28 Less cost of treasury stock ( ) ( )
29 Total liabilities and shareholders’ equity
Schedule M-1 Reconciliation of Income (Loss) per Books with Income per Return (See page 18 of instructions.)
(The corporation is not required to complete Schedules M-1 and M-2 below if the total assets on line 15, column (d), of Schedule L are less than $25,000.)
1 Net income (loss) per books 7 Income recorded on books this year
2 Federal income tax not included in this return (itemize)
3 Excess of capital losses over capital gains a Tax-exempt interest $
4 Income subject to tax not recorded on books
this year (itemize) 8 Deductions in this tax return not charged
5 Expenses recorded on books this year not against book income this year (itemize)
deducted in this return (itemize) a Depreciation $
a Depreciation $ b Contributions carryover $
b Contributions carryover $
c Travel and entertainment $ 9 Add lines 7 and 8
10 Income (Schedule A, line 35)—
6 Add lines 1 through 5 subtract line 9 from line 6
Schedule M-2 Analysis of Unappropriated Retained Earnings per Books (line 26, Schedule L)
1 Balance at beginning of year 5 Distributions: a Cash
2 Net income (loss) per books b Stock
3 Other increases (itemize) c Property
6 Other decreases (itemize)
7 Add lines 5 and 6
8 Balance at end of year (subtract line
4 Add lines 1, 2, and 3 7 from line 4)
Form 1120-PC (2000)