A few points of clarification would be helpful. By net income do you mean taxable income?
By a business return if you are referring to a corporate return then it would be a Form 1120. On the Form 1120 for tax year 2011 taxable income is line 30.
Here are the sites for the Form 1120 and the instructions:
Please note that the section on income begins on page 7 of the instructions for Form 1120.
Also, line 28 of Form 1120 is "taxable income before NOL deductions and special deductions" which is explained on page 13 of the instructions.
Hope this helps!
The information provided here is for educational purposes only and is not intended as legal advice for a particular matter. The general information in this answer is not intended to be nor should it be treated as tax, legal, or accounting advice. Additional issues could exist that would affect the tax treatment of a specific transaction and, therefore, taxpayers should seek advice from an independent tax advisor based on their particular circumstances before acting on any information presented. This information is not intended to be nor can it be used by any taxpayer for the purpose of avoiding tax penalties. This posting does not create any attorney-client relationship. For specific advice about your particular situation, consult a qualified attorney. CHRISTIN BUCCI, Esq., CPA, LL.M. is an experienced tax attorney with offices located in Fort Lauderdale and Miami, Florida, who is licensed to practice law in Florida, Ohio and the District of Columbia.
The net income will generally be on the first page of the tax return towards the bottom. It will generally be labeled "profit/(loss)" or something along those lines.
Evan A. Nielsen
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Evan A. Nielsen is licensed to practice law in California. The information provided here is for educational purposes only and is not intended as legal advice for a particular matter. This response does not create any attorney-client relationship with the author. For specific advice about your particular situation, please consult an attorney.