Form Ia 128 - Iowa Research Activities Tax Credit - 2016
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12016 IA 128
Iowa Research Activities Tax Credit
https://tax.iowa.gov
Name(s)
SSN or FEIN
Pass-Through Entity (if applicable) ______________________________________________________
Pass-Through FEIN ___________________________ Tax Period Ending Date
PART I – Calculation of U.S. Qualified Research Expenses
1. Certain amounts paid or incurred to energy consortia ................................................ 1.
2. Basic research payments to qualified organizations .................................................. 2.
3. Qualified organization base period amount ................................................................ 3.
4. Wages for qualified research services ........................................................................ 4.
5. Cost of supplies used in conducting qualified research .............................................. 5.
6. Rental or lease costs of computers used in conducting qualified research ................ 6.
7. Applicable portion of contract research expenses ...................................................... 7.
8. Total qualified research expenses. Add lines 4 through 7 .......................................... 8.
9. Fixed-base percentage to four decimals, but not more than 16.00% ......................... 9.
%
10. Average U.S. annual gross receipts for tax years 2012 through 2015 ...................... 10.
11. Base amount. Multiply line 10 by the percentage on line 9 ....................................... 11.
12. Subtract line 11 from line 8. If zero or less, enter zero .............................................. 12.
13. Multiply line 8 by 50% (0.5) ....................................................................................... 13.
14. Enter the smaller of line 12 or line 13 ........................................................................ 14.
15. Total allowable U.S. qualified research expenses. Add lines 1 and 14 ..................... 15.
PART II – Calculation of Tax Credit Based on Percentage of Research Occurring within Iowa
16. Basic research payments to qualified organizations in Iowa ................................. 16.
17. Iowa apportioned qualified organization base period amount ............................... 17.
18. Subtract line 17 from line 16. If zero or less, enter zero ........................................ 18.
19. Multiply line 18 by 6.5% (0.065) ........................................................................... 19.
20. Certain amounts paid or incurred to energy consortia in Iowa .............................. 20.
21. Wages for qualified research services performed in Iowa ..................................... 21.
22. Cost of supplies used in conducting qualified research in Iowa ............................ 22.
23. Rental or lease costs of computers used in conducting qualified research
in Iowa .................................................................................................................. 23.
24. Applicable portion of contract research expenses incurred in Iowa ...................... 24.
25. Total Iowa qualified research expenses. Add lines 20 through 24 ........................ 25.
26. Total U.S. qualified research expenses. Add lines 1 and 8 ................................... 26.
27. Iowa share of research. Divide line 25 by line 26, enter percentage to four
decimals (ex. 72.18%) .......................................................................................... 27.
%
28. Expenses allocable to Iowa. Multiply line 15 by line 27 ......................................... 28.
29. Multiply line 28 by 6.5% (0.065) ............................................................................ 29.
30. Iowa Research Activities Tax Credit. Add lines 19 and 29.
Enter in column K of Part II on the IA 148 Tax Credits Schedule .......................... 30.
31. Supplemental Research Activities Tax Credit. See instructions. Enter in column K
of Part II on the IA 148 and include the tax credit certificate number in column J . 31.
32. Pass-through Iowa Research Activities Tax Credit received from partnership,
LLC, S corporation, estate, or trust. Enter on Part II and Part IV of the IA 148. .... 32.
33. Pass-through Supplemental Research Activities Tax Credit received from
partnership, LLC, S corporation, estate, or trust. Enter on Part II and Part IV
of the IA 148 and include the tax credit certificate number ................................... 33.
IA 148 Tax Credits Schedule must be completed.
41-128a (06/25/16)
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