Form Wv/aif-1 - Aerospace Industrial Facility Investments Credit (Page 3 of 3) in pdf

Form Wv/aif-1 - Aerospace Industrial Facility Investments Credit Page 3

Computation of Current Annual Credit:

Line 6.

To determine the taxpayer’s annual credit earned during the current taxable year, multiply the total poten-

tial credit on Line 5 by 10%. Enter on Line 6. Forfeited if not used.

Credit From Previous Years:

Line 7.

Enter any annual Aerospace Industrial Facility Credit from prior year(s). For eligible investments for mul-

tiple year(s), a worksheet must be provided showing the computation.

Computation of Total Annual Credit:

Line 8.

To determine the total amount of credit available in the current taxable year, add the credit earned during

the current year shown on Line 6 to the amounts available from previous years shown on Line 7. Enter the

total on Line 8.

Line 9a

Enter your total amount of Business Franchise Tax remaining after deductions for the Subsidiary Credit,

Business and Occupation Credit, and Bank Shares Credit.

Line 9b.

Enter 60% of Line 9a.

Line 9c.

Enter sum amounts of Business Investment and Jobs Expansion Credit (Super Credit), Industrial Expan-

sion and Revitalization Credit, Research and Development Project Credit, Capital Company Credit and

other investment credits, if any, applied against your Business Franchise Tax liability.

Line 9d.

Subtract amount on Line 9c from amount on Line 9b. (If less than zero, enter zero).

Line 9e.

Aerospace Industrial Facility Credit against Business Franchise Tax: Enter the lesser of Line 9d or

the amount of available credit from Line 8.

Line 10.

Subtract the amount on Line 9e from the amount on Line 8. This represents remaining credit available for

use against the Corporation Net Income Tax.

Line 11a

Enter your total amount of Corporation Net Income Tax.

Line 11b.

Enter 60% of Line 11a.

Line 11c.

Enter sum amounts of Business Investment and Jobs Expansion Credit (Super Credit), Research and

Development Project Credit, Capital Company Credit and other investment credits, if any, applied against

your Corporation Net Income Tax liability.

Line 11d.

Subtract amount on Line 11c from amount on Line 11b. (If less than zero, enter zero).

Line 11e.

Aerospace Industrial Facility Credit against Corporation Net Income Tax: Enter the lesser of Line 11d

or the amount of available credit from Line 10.

Form Wv/aif-1 - Aerospace Industrial Facility Investments Credit Page 3