Arizona Form 325 - Agricultural Pollution Control Equipment Credit

2000

Agricultural Pollution Control Equipment Credit

ARIZONA FORM

325

For taxable year beginning ______/______/______ , and ending ______/______/______ .

YYYY

Attach to your return

Name(s) as shown on Form 140, 140PY, 140NR, 140X, 120, 120A, 120S, 120X or 165

Your social security number or federal employer ID number

Part I Schedule of Equipment and Calculation of Current Taxable Year's Credit

If additional space is needed, attach a separate schedule.

(c)

(a)

(b)

Total cost of property

Date property

used to reduce

Description

agricultural pollution

placed in service

11 Total - add lines 1 through 10 in column (c) ................................................................................................................................................

12 Total from continuation sheet if applicable ..................................................................................................................................................

13 Total cost of agricultural pollution control equipment - add lines 11 and 12 ...............................................................................................

14 Tentative credit for current taxable year - multiply line 13 by 25% (.25) .....................................................................................................

15 Maximum credit allowed ..............................................................................................................................................................................

$25,000 00

16 Credit for current taxable year - enter the lesser of line 14 or line 15 .........................................................................................................

A taxpayer who elects to claim a credit under ARS § 43-1081.01 or § 43-1170.01 shall reduce the basis for depreciation or amortization of costs of the agricultural

pollution control equipment by the amount of the credit claimed.

Part II S Corporation Credit Election and Shareholder's Share of Credit

17 The S corporation has made an irrevocable election for the taxable year ending ______/______/______ , to:

YYYY

( CHECK ONLY ONE BOX )

Claim the agricultural pollution control equipment credit as shown on Part I, line 16 (for the taxable year mentioned above);

Pass the agricultural pollution control equipment credit as shown on Part I, line 16 (for the taxable year shown above) through to its

shareholders.

Signature

Title

Date

If passing the credit through to the shareholders, complete lines 18 through 20 separately for each shareholder.