Form 5922(C) - C-Corporation Financial Services Development Credit Schedule
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1C-Corporation Financial Services Development Credit Schedule
Entity:______________________________________________________________________________
FEIN: _____________________________
Fiscal Year Ending: ______________________________
VBA:_______________________________________________________________________________
Was a credit claimed last year? If so, has the entity ceased to employ in Vermont, for a period in excess of 120 consecutive
days, at least 65% of the number of employees in Vermont as of the year (up to six years) a tax credit was taken under this
statute? (32 V.S.A. §5922)
Yes __________ No __________
If you answered “Yes” to this question, you may not claim additional Financial Services Development Credits. You may also be required to repay
a portion of the credits taken pursuant to the recapture provisions of 32 V.S.A. §5922(e). Attach a copy of this form to VT Form CO-411 when
completed.
Number of full time/part time VT employees at start of year:
________/________
Number of full time/part time VT employees at end of year:
________/________
Total payroll paid to VT employees last year:
$_______________________
Total payroll paid to VT employees this year:
$_______________________
1. Vermont Tax Liability Allocation
_______
(a) Total Vermont tax liability
1(a)
$_________
(VT Form CO-411, Line 9)
(b) Percentage of gross income from financial services:
(1) Gross income from VT business as Investment Advisor, Investment
Manager and Investment Company
1(b)(1) $_________________
(VT Form BA-402, Line 11b)
______________
(2) Gross income from all VT sources
1(b)(2) $
(VT Form BA-402, Line 12b)
%
(3) Divide Line 1(b)(1) by Line 1(b)(2)
1(b)(3) ________________
_______________
(c) Multiply Line 1(a) by Line 1(b)(3)
1(b)(c) $_
2. Asset Apportioned Ratio
(a) Revenue from assets under management or other investment
business for nonVermont residents
2(a)
$__________________
(b) Total revenue from assets under management or other investment
business
2(b)
$__________________
%
_______________
(c) Divide Line 2(a) by Line 2(b)
2(c)
_
_______________
3.
3. Tax Liability Apportioned Ratio (Multiply Line 1(c) by Line 2(c))
$_
4. Payroll Apportioned Ratio
(a) Total qualified employee payroll for services performed in VT
4(a) $___________________
(VT Form BA-402, Line 13 (b))
(b) Total employee payroll for year
4(b) $____________________
(VT Form BA-402, Line 13 (a))
_______________%
(c) Divide Line 4(a) by Line 4(b)
4(c) $
5. Financial Services Credit (Before application of any limitations)
________________
Multiply Line 3 by Line 4(c)
5.
$
6. Financial Services Credit: Enter lesser of Line 5 or 75% of Line 1(c)
(Enter on VT Form CO-411, Line 10)
6. $____________________
5922(c) rev-12/31/05
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