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Form IA 133 Fillable New Jobs Credit Worksheet 41-133
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IA 148 Tax Credits Schedule (Click to clear form) Reset Form (Click to print form) Print Form (text) (text) 1 Qualifying taxable wages for eligible new employees 1 148 Use the IA 148 Tax Credits Schedule to determine 2 Calculated credit Multiply line 1 by 6% ( 06) 2 2013 IA 133 New Jobs Tax Credit 41 133 (09/16/13) A Any carryforward from prior year(s) should A New Jobs Tax Credit can be taken by a business agreement is to be completed However the credit agreement it is entitled to this New Jobs Tax Credit be placed in Column C of the same line on the IA be placed on a separate line in Part I of the IA 148 been exceeded by 10% Any credit in excess of the begins or ends during the period beginning with the business adds new jobs within the time set in the business without a base employment level if the Code 08 in Column A Any carryforward from prior Computation of New Jobs Credit counted credit reported on the taxpayer s K 1 in Column D of Credits Schedule Use Tax Credit Code 08 in Column current tax year and any carryforward for future tax date of the agreement and ending with the date the entity for each of these credits in Part IV of the IA entity place the current year amount of the for the tax year selected by the business In determining from the project covered by the agreement can be If a New Jobs Tax Credit has been received from if the business has increased its base employment If the taxpayer has received the credit from a passthrough If the taxpayer is a C corporation the amount in Line 2 increased its base employment level by at least 10% Instructions Iowa Department of Revenue level by 10% only those new jobs directly resulting liability for the following 10 tax years or until depleted Line 1 Enter the total amount of qualifying taxable Line 2 Multiply amount on line 1 by 6% ( 06) may not be taken until the base employment level has more than one pass through entity each credit should must be completed Name(s) SSN or FEIN Number of New Jobs new jobs or employees in jobs directly related to on an attachment to Schedule K 1 the credit for each or beneficiaries must show on Schedule K 1 or placed in Column C of the same line on the IA 148 Provide the name and FEIN of the pass through purposes of this credit qualifying taxable wages is required to pay unemployment taxes for employees in Retain this worksheet for your files Do not enclose S corporations partnerships LLCs estates and trusts shareholder partner or beneficiary should be placed in Column D of the IA 148 Tax tax liability for the tax year may be credited to the tax taxable wages of new employees by 6% For that has entered into a chapter 260E agreement with a that share the credit among their shareholders partners the allowable credit that can be claimed in the the amount of taxable wages on which an employer is The credit can be taken in any tax year that either The credit is determined by multiplying the qualifying the first $26 000 wages paid to an employee the IA 148 Tax Credits Schedule Use Tax Credit those new jobs For 2013 qualifying taxable wages is vocational school or community college and that has wages for eligible new employees whichever is earlier with your return within the time set in the agreement In the case of a Worksheet www iowa gov/tax year(s) from the same pass through entity should be years or expired credits