Defense Contracting Credits
2001
ARIZONA FORM
302
MM
DD
YYYY
MM
DD
YYYY
For taxable year beginning ______/______/________, and ending ______/______/________
( Attach to your return )
Name(s) as shown on Forms 140, 140PY, 140NR, 140X, 120, 120A, 120S, 120X, or 165
Your social security number or federal employer ID number
1 Has the business been certied as a qualied defense contractor by the Arizona Department of Commerce?
Yes
No
If the answer to this question is no, the business is not eligible for the defense contracting credits.
Part I
Net Increase in Defense Employment Positions
2 Average employment during the current taxable year under United States
Department of Defense contracts ..................................................................................................
2
3 Employment baseline ....................................................................................................................
3
4 Net increase in defense employment positions - subtract line 3 from line 2.................................................................................
4
Part II
Net Increase in Qualied Private Commercial Employment Positions
5 Net increase in private commercial employment positions...........................................................................................................
5
6 Number of new qualied private commercial employment positions. See instructions ................................................................
6
7 Net increase in qualied private commercial employment positions. Enter the lesser of line 5 or line 6......................................
7
Part III
Credit Calculation for Qualied Employment Positions
(a)
(b)
(c)
(d)
Number of qualied
Number of qualied
Credit per qualied
defense positions
commercial positions
employment position
Allowable credit
Qualied net new employment
positions
8
$
$2,500
Qualied employment
positions in the second year
9
$
$2,000
of existence
Qualied employment
positions in the third year
10
$
$1,500
of existence
Qualied employment
positions in the fourth year
11
$
$1,000
of existence
Qualied employment
positions in the fth year
12
$
$500
of existence
Total
13
$
Part IV
Credit Calculation for Property Taxes Paid on Class One Property
14 Amount paid as taxes on property in Arizona classied as class one pursuant to ARS § 42-12001 ............................................
14
15 Percent based on net new defense employment positions. See instructions...............................................................................
15
•
16 Multiply line 14 by line 15..............................................................................................................................................................
16
17 Percent based on defense contract income divided by total gross income. See instructions ......................................................
17
•
18 Allowable credit for property taxes. Multiply line 16 by line 17 .....................................................................................................
18
ADOR 91-0049 (01) rj