Form 49184 - Indiana Research Expense Tax Credit (#822) Form - Schedule It-20rec

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Schedule IT-20REC
Indiana Research Expense Tax Credit (#822)
Tax Year
State Form 49184 (R1/7-05)
Ending ____________
(Attach to annual income tax return)
Department of Revenue
Effective July 1, 2005
Name(s) of Taxpayer
Federal Identification Number
Part I
-- Qualified Research Activities in Indiana (Explain in detail, attach additional sheets if necessary)
A. The place(s) where the services are performed (please be specific):
B. The residence or business location of the person(s) performing the services:
C. The place where qualified research supplies are consumed:
D. Other factors that may be relevant for determining allowable Indiana expenses:
Qualified Research
Part II - Computation of Indiana Credit for Increasing Research Activities
Expense within Indiana
Regular Credit for Research Conducted in Indiana
1. Basic research payments paid or incurred to qualified organizations in the taxable period ..
1
2. Qualified organization base period amount attributable to Indiana .......................................
2
3. Subtract line 2 from line 1. If less than zero, enter -0- ...........................................................
3
4. Wage for qualified Services ...................................................................................................
4
5. Cost of supplies ....................................................................................................................
5
6. Rental or lease cost of computers .........................................................................................
6
7. Enter the applicable percentage of contract research expenses ............................................
7
8. Total qualified research expenses - Add lines 4 through 7 ....................................................
8
Skip lines 9-16 if using the alternative incremental method starting on line 17.
%
9. Enter fixed-base percentage attributable to Indiana, but not more than 16% ........................
9
10. Enter average annual Indiana gross receipts for the four preceding tax years ...................... 10
11. Multiply line 10 by the percentage on line 9 ......................................................................... 11
12. Subtract line 11 from line 8. Enter result on line 12. If zero or less, enter -0- ...................... 12
13. Multiply line 8 by 50% (.50) ................................................................................................... 13
14. Enter on line 14 the smaller of line 12 or line 13 ..................................................................... 14
15. Add lines 3 and 14 ................................................................................................................. 15
16. Regular credit. Multiply line 15 by 10% (.10), enter the result ............................................ 16
Alternative Incremental Credit for Research Conducted in Indiana
17. Enter amount from line 3 ........................................................................................................ 17
18. Multiply line 17 by 10% (.10) ................................................................................................. 18
19. Enter average annual Indiana gross receipts for the four preceding tax years ...................... 19
20. Multiply line 19 by 1% (.01) ................................................................................................... 20
21. Subtract line 20 from line 8. Enter result on line 21. If zero or less, enter -0- ........................ 21
22. Multiply line 19 by 1.5% (.015). Enter the result on line 22 ................................................... 22
23. Subtract line 22 from line 8. Enter result on line 23. If zero or less, enter -0-. ....................... 23
24. Subtract line 23 from line 21 ................................................................................................... 24
25. Multiply line 19 by 2% (.02). Enter on line 25 ....................................................................... 25
26. Subtract line 25 from line 8. Enter on line 26. If zero or less, enter -0-. ................................ 26
27. Subtract line 26 from line 23 ................................................................................................... 27
28. Multiply line 24 by 2.65% (.0265) ........................................................................................... 28
29. Multiply line 27 by 3.2% (.032) .............................................................................................. 29
30. Multiply line 26 by 3.75% (.0375) ........................................................................................... 30
31. Alternative incremental credit. Add lines 18, 28, 29, and 30 ............................................... 31
Part III - Indiana Qualified Research Expense Credit
32. Enter amount from line 16 (or line 31 if using alternative incremental method) ...................... 32
Carry pro-rata distributive share of amount on line 32 plus any unused state carryover research expense credit to Form IT-20,
IT-20NP, IT-40, IT-40PNR.
Partnerships (Form IT-65), S corporations (IT-20S) and Fiduciaries (IT-41) must attach IT-20REC to the annual return. A separate
schedule, showing each owner's pro rata share of the above amount must be provided, along with Schedule IN K-1, to each
shareholder, partner, or member of a limited liability company.

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