FORM 83 Fillable Idaho Small Employer Investment Tax Credit
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1 Amount of qualified investments acquired during the tax year Include a complete list of qualified 1 Credit for income tax paid to other states 1 Percentage of Use Method Multiply the investment in 10 Credit shared with unitary affiliates 10 11 Total credit available subject to limitations Add lines 4 through 7 then subtract lines 8 through 10 11 12 Enter the Idaho income tax from your tax return 12 13 Credit for income tax paid to other states 13 14 Credit for contributions to Idaho educational entities 14 15 Investment tax credit Include Form 49 15 16 Credit for contributions to Idaho youth and rehabilitation facilities 16 17 Credit for production equipment using postconsumer waste 17 18 Promoter sponsored event credit 18 19 Credit for Idaho research activities from Form 67 line 29 19 2 Amount of investments for which you claimed the property tax exemption Include Form 49E 2 2 Credit for contributions to Idaho educational entities 20 Broadband equipment investment credit from form 68 line 18 20 21 Incentive investment tax credit from Form 69 line 16 21 22 Add lines 13 through 21 22 23 Tax available after other credits Subtract line 22 from line 12 23 24 62 5% of tax Multiply line 12 by 62 5% 24 25 Credit allowable subject to limitation of tax Enter the smaller of: 26 Total credit allowed on current year tax return Enter the smallest amount 27 Total credit available subject to limitations Enter the amount from line 11 27 28 Credit allowed Enter the amount from line 26 or from Form 55 Part II line 23 28 29 Credit carryover to future years Subtract line 28 from line 27 Enter the amount here and 3 Investment tax credit 3 Subtract line 2 from line 1 This is the amount of qualified investments on which you may earn 4 Credit earned Multiply line 3 by 3 75% 4 4 Credit for contributions to Idaho youth and rehabilitation 5 Credit for production equipment using postconsumer waste 5 Pass through share of credit from a S corporation partnership trust or estate 5 6 Credit received through unitary sharing Include a schedule 6 6 Promoter sponsored event credit 7 Carryover of small employer investment tax credit from prior years 7 7 Credit for qualifying new employees 8 Carryover eliminated due to recapture in 2015 Enter the amount from Form 83R line 13 8 Credit for Idaho research activities 9 Broadband equipment investment credit 9 Credit distributed to shareholders partners or beneficiaries 9 Buildings and their structural components (this property may Elevators and escalators Horses Name(s) as shown on return Other tangible property property used as an integral part of Petroleum storage facilities Property not used in Idaho and Property subject to 60 month amortization Property that is either nondepreciable or has a useful life of Property used in lodging facilities that rent 50% or more of Qualified broadband equipment as approved by the Idaho Qualified timber property Single purpose agricultural or horticultural structures Tangible personal property machinery and equipment The cost of property expensed under IRC section 179 The portion of property used for personal use Used property in excess of $150 000 Used property not acquired by purchase Vehicles under 8 000 pounds gross vehicle weight $15 50 per hour worked See the instructions for who's included in this calculation 07 21 15 07 21 15 1 Capital investment in new plant and building facilities of at least $500 000 10 Incentive investment tax credit 2 Increased employment by at least 10 new employees who each earn at least $19 23 per hour and receive health benefits and 2 Property Factor Numerator Method Use the amount 3 For new employment increases above the 10 new employees the average wages of the additional new employees are at least a the amount from line 11 or accurately reflects the usage Allowed column Also you must compute recapture if you claimed the SE ITC amortization in place of depreciation Qualifying property and bulk storage facilities used in connection with those and laundry and swimming pool facilities but excludes certain and motels that rent more than half their units for periods of and total use is the denominator Usage can be measured any property placed in service before the date the project period apartment houses or rental homes (Doesn't apply to hotels b $750 000 25 been in service for five full years began businesses by machine hours mileage or any other method that can't claim the ITC on the same property carryover or carryback of net operating losses CARRYOVER PERIODS certified to on Idaho Form 89SE claim the SE ITC for any property that you elect to exempt from claimed the ITC or Form 49ER if you claimed the property tax claimed the property tax exemption This exemption is allowed coin operated machines Commission or you've been notified that you don't qualify for the communications or utility services or research facilities computation of any credit carryovers Corporations claiming the SE ITC must provide a calculation of credit allowed on the current year tax return may be carried CREDIT AVAILABLE SUBJECT TO LIMITATION CREDIT CARRYOVER CREDIT LIMITATIONS credit must complete a separate Form 83 credit see Idaho Form 84) credits that may be claimed before the SE ITC criteria at the project site during the project period: each asset by a fraction where Idaho use is the numerator each item of property is your basis in the item whether the item EFO00011 EFO00011p2 EFO00011p3 ELECTION TO CLAIM TWO YEAR PROPERTY TAX employees skip lines 12 through 26 and compute the limitations enter the amount of credit that passed through to shareholders exemption EXEMPTION AND FORGO INVESTMENT TAX CREDIT exemption from the property tax is for two years After the two facilities File Form 83R if you claimed the SE ITC File Form 49R if you following methods: for which you are allowed the deduction for depreciation or Form 83 is used to calculate the Idaho small employer Form 83 Page 2 forward for 14 tax years For purposes of the carryover period a forward up to 14 tax years Enter this amount on Form 44 from Form 39R or Form 39NR This credit is available only to from lines 23 24 or 25 here and on Form 44 Part I line 8 26 GENERAL INSTRUCTIONS group The schedule must clearly identify shared credit and the ID K 1 Part D line 9 Idaho Exceptions to IRC Sections 46 and 48 Idaho Form 49 Idaho law specifically excludes the following property from IDAHO SMALL EMPLOYER If property is used both in and outside Idaho compute the If you aren't claiming the credit for qualifying new employees complete lines 12 through 29 If you haven't filed Form 89SE with the Tax Commission or have been notified that you don't qualify for the small employer incentives If you placed personal property in service that qualifies for the If you're a qualifying taxpayer property that would qualify for the If you're claiming against tax the Idaho credit for qualifying new If you're claiming the credit for qualifying new employees compute the limitation on Form 55 in an earlier year and didn't meet the tax incentive criteria you in place of earning the SE ITC Include applicable Form(s) 49E in which the property was placed in service Negative Idaho Include Form 83R 8 included in the Idaho property numerator for each property includes the following property used in a trade or business: income in the second preceding tax year from the tax year individuals trusts or estates Instructions are for lines not fully explained on the form Instructions for Idaho Form 83 INVESTMENT TAX CREDIT investment tax credit (ITC) If you're claiming the SE ITC you investment tax credit (SE ITC) earned or allowed Each member investments 1 is new or used and the date placed in service Don't include ITC qualifies for the SE ITC The property doesn't have to be ITC you may elect to exempt this property from your property less than 30 days ) Nonqualifying property includes property less than three years liability Line 1 Include a list of all property you acquired during the tax Line 10 If you're a member of a unitary group enter the amount Line 12 Enter the amount of your Idaho income tax This is Line 13 Enter the credit for income tax paid to other states Line 2 Enter the amount of qualified investments for which you Line 26 Enter the smallest amount from lines 23 24 or 25 on line 26 Enter this amount on Form 44 Part I line 8 in the Credit line 29 Line 29 The amount of credit available that exceeds the total Line 5 Enter the amount of the SE ITC that's being passed Line 6 If you're a member of a unitary group enter the amount Line 7 Enter the carryover computed on your 2014 Form 83 Line 9 If you're a S corporation partnership trust or estate located at the project site to qualify However it does have to be manufacturing production extraction or furnishing transportation must have a useful life of three years or more and be property must use the credit up to the allowable limitation of your tax Nonqualifying Property of a unitary group of corporations that earns or is allowed the of credit you earned that you elect to share with other members of credit you received from another member of the unitary group of qualified property found in the Internal Revenue Code (IRC) of the election form must be attached to the original income tax of your unitary group Before you can share your credit you on Form 44 Part I line 8 29 on Form 55 Idaho Credit for Qualifying New Employees operator's statement or personal property declaration A copy Part I line 8 in the Carryover column Part II Credit Limitations Return to Form 83 line 27 to compute partners or beneficiaries permanent building fund tax or any other taxes placed in service during the project period property tax Property that doesn't qualify includes: Property that qualifies for the ITC generally follows the definition Property Used Both In and Outside Idaho Public Utilities Commission qualified investment for all such property using one of the qualify for the SE ITC you may be eligible to claim the ITC See qualify for the small employer real property improvement tax QUALIFYING FOR THE CREDIT qualifying for the Idaho ITC: QUALIFYING PROPERTY QUALIFYING TAXPAYERS rate of return is regulated or limited by federal or state law The RECAPTURE return(s) for the tax year(s) in which the property was placed in SE ITC that was earned but not used against tax may be carried SE ITC: Sections 46 and 48 as in effect prior to 1986 The property service short tax year counts as one tax year small employer incentives you can't claim this credit If you don't Social Security number or EIN SPECIFIC INSTRUCTIONS tax liability or the Idaho income tax after allowing all other tax tax You aren't eligible for the election if your rate of charge or taxable income must have been computed without regard to any that you'll meet the tax incentive criteria at the project site during the computed tax before subtracting any credits or adding the the credit carryover the credit earned and used by each member of the combined The election is available if you had negative Idaho taxable The election must be made on Form 49E and filed with the The following credits must be applied to the tax before the the project period If you haven't filed Form 89SE with the Tax the property or it ceases to qualify for the SE ITC before it has The SE ITC is allowed for property that qualifies for the 3% The SE ITC is limited to the smaller of $750 000 62 5% of the the small employer investment tax credit 3 their lodging units for periods of 30 days or longer such as then complete lines 27 through 29 on this form through by S corporations partnerships trusts or estates in To qualify for the SE ITC you must certify by filing Form 89SE used in the living quarters lobby furniture office equipment which you have an interest This amount is reported on Form year that qualifies for the SE ITC The list should identify what years you must pay any applicable property tax You can't you don't qualify for this credit Complete Form 49 for any investments that qualify for the regular investment tax credit You may claim the small employer investment tax credit if you have certified on Form 89SE that you will meet the following tax incentive You must compute recapture if you sell or otherwise dispose of