Schedule Cr - Credit Computation Schedule - 2006

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2006

Schedule CR
CREDIT COMPUTATION SCHEDULE - See Page 6 for required attachments.
Attach this to your return. See instructions for other required attachments.
Social Security Number
Name(s) as shown on Virginia return
-
-
PART I – MAXIMUM NONREFUNDABLE CREDITS
whole dollars only
1
Enter the total tax computed on your return less the total of Spouse Tax Adjustment, Credit for
Low Income Individuals or the Virginia Earned Income Credit, and Credit for Tax Paid to Another
,
,
00
.
State. The maximum nonrefundable credits allowable on Line 107 of Schedule CR
1
may not exceed this amount. .........................................................................................................
PART II – ENTERPRISE ZONE ACT CREDIT
,
,
00
.
2
2
Credit allowable this year from Form 301 ( attach Form 301) ...................................................
PART III – NEIGHBORHOOD ASSISTANCE ACT CREDIT
3
Authorized amount of Neighborhood Assistance Act Credit .................... 3 __________________
4
Carryover credit from prior year(s) [attach computation] ......................... 4 __________________
5
Add Lines 3 and 4 .................................................................................... 5 __________________
,
,
00
.
6
Credit allowable this year: Line 5 or balance of maximum credit
6
available, whichever is less ............................................................................................................
7
Carryover credit to next year: Line 5 less Line 6 (applicable only if within
5 year carryover period) ........................................................................... 7 __________________
PART IV – RECYCLABLE MATERIALS PROCESSING EQUIPMENT CREDIT
EXPIRED 12/31/03
8
............................................................. 8 __________________
9
Carryover credit from prior year(s) [attach computation] ......................... 9 __________________
EXPIRED 12/31/03
10
........................................................... 10 __________________
11
Enter 40% of tax per return .....................................................................11 __________________
12
Maximum Recyclable Materials Processing Equipment Credit
Line 9 or Line 11, whichever is less ....................................................... 12 __________________
,
,
00
13
Credit allowable this year: Line 12 or balance of maximum credit
.
13
available, whichever is less .........................................................................................................
14
Carryover credit to next year: Line 9 less Line 13 (applicable only if
within 10 year carryover period) ............................................................ 14 __________________
PART V – CONSERVATION TILLAGE EQUIPMENT CREDIT
15
Enter 25% of qualifying property cost or $4,000, whichever is less ....... 15 __________________
16
Carryover credit from prior year(s) [attach computation] ....................... 16 __________________
17
Add Lines 15 and 16 .............................................................................. 17 __________________
,
,
00
18
Credit allowable this year: Line 17 or balance of maximum credit
.
18
available, whichever is less .........................................................................................................
19
Carryover credit to next year: Line 17 less Line 18 (applicable only if
within 5 year carryover period) .............................................................. 19 __________________
PART VI – FERTILIZER AND PESTICIDE APPLICATION EQUIPMENT CREDIT
20
Enter 25% of current qualifying equipment cost or $3,750,
whichever is less ................................................................................. 20 __________________
21
Carryover credit from prior year(s) [attach computation] ....................... 21 __________________
22
Add Lines 20 and 21 .............................................................................. 22 __________________
,
,
00
23
Credit allowable this year: Line 22 or balance of maximum credit
.
23
available, whichever is less .........................................................................................................
24
Carryover credit to next year: Line 22 less Line 23 (applicable only if
within 5 year carryover period) ............................................................... 24 __________________
PART VII – RENT REDUCTION PROGRAM CREDIT
25
Enter 50% of qualifying rent reductions ................................................. 25 __________________
26
Carryover credit from prior year(s) [attach computation] ....................... 26 __________________
27
Add Lines 25 and 26 .............................................................................. 27 __________________
,
,
00
.
28
Credit allowable this year: Line 27 or balance of maximum credit
28
available, whichever is less .........................................................................................................
29
Carryover credit to next year: Line 27 less Line 28 (applicable only if
within 5 year carryover period) .............................................................. 29 __________________
2601450 Rev. 8/06

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