Schedule 1299-D - Income Tax Credits (For Corporations And Fiduciaries) - 2007
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Illinois Department of Revenue
Income Tax Credits
2007 Schedule 1299-D
(for corporations and fiduciaries)
Attach to your Form IL-1120, IL-1041, or IL-990-T.
Tax Year Ending: __ __ / __ __ __ __
IL Attachment No. 3
–
Write your name as shown on your return.
Write your federal employer identification number (FEIN).
What’s new for this year?
The Ex-Felons Jobs Credit and the Veterans Jobs Credit are in
To correctly complete 2007 Schedule 1299-D, you will need to refer to
effect for tax years beginning on or after January 1, 2007.
the 2006 Schedule 1299-D, Step 3, to calculate the amount of available
credit carryforward that may be used on this 2007 Schedule 1299-D.
The River Edge Redevelopment Zone Remediation Credit is in
For tax years ending on or after December 31, 2007, the Employee
effect for tax years ending on or after December 31, 2006.
Child Care Tax Credit has been amended to reinstate the credit for
The Environmental Remediation Tax Credit carryforward has
30 percent of the start-up costs to provide a child care facility.
expired for tax years ending on or after January 1, 2007.
Step 1: Figure your credits
Section A — Credits which can be carried for two years
TECH-PREP Youth Vocational Programs Credit
1
1
Write direct payroll expenses and amount for personal services.
x .20 =
Dependent Care Assistance Program Credit
2
2
Write the expenses for on-site dependent care.
x .05 =
3
3
Add Lines 1 and 2. Write this amount here and in Step 2, Line 18.
Section B — Credits which can be carried for five years
Film Production Services Tax Credit
4
Write the amount of available credit from the Tax Credit Certificate you
4
received from the DCEO or that was transferred to you (see instructions).
5
5
Write any distributive share of Film Production Services Tax Credit from partnerships and S corporations.
6
6
Add Lines 4 and 5. This is your Film Production Services Tax Credit.
Employee Child Care Tax Credit
(Form IL-1120 filers only)
7
7 Write the total start-up costs to provide the child care facility.
x .30 =
8
8 Write the annual amount paid to provide the child care facility.
x .05 =
9
9 Add Lines 7 and 8. Write your Employee Child Care Tax Credit here.
Jobs Tax Credit
A
B
C
D
E
F
Name of zone
No. of
No. of
Col. B
No. of eligible
Column E x
$500
employees
employees at
minus Col. C
employees
this year
end of base year
included in Col. D
10
10
Enterprise Zone or River Edge Redevelopment Zone Investment Credit
A
B
C
D
E
F
G
H
Description of
Date placed in ACRS New/Used
Name of zone
Basis
Rate
Column F x Column G
qualified property
service in Illinois class
)
(see
instr.
(see instr.)
Month Year
11
a
a
/
b
b
/
c
c
/
12
Write any distributive share of Enterprise Zone or River Edge Redevelopment Zone
12
Investment Credit from partnerships and S corporations.
13
Add Column H, Lines 11a through 11c, and Line 12.
13
This is your Enterprise Zone and River Edge Redevelopment Zone Investment Credit.
14
14
Add Lines 6, 9, 10, and 13. Write the total here and on Page 2, Line 15.
*IL07639111332*
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Schedule 1299-D (R-12/07)
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