Step 3 Continued
High Impact Business Investment Credit
A
B
C
D
E
F
G
Description of
Placed in service
ACRS
New/Used
Name of zone
Basis
Column F x .5% (.005)
qualified property
in Illinois
class (See instructions)
13
a
a
/
b
b
/
c
c
/
14
14
Add Column G, Lines 13a through 13c. Write your High Impact Business Investment credit here.
Enterprise Zone Investment Credit
A
B
C
D
E
F
G
Description of
Placed in service
ACRS
New/Used
Name of zone
Basis
Column F x .5% (.005)
qualified property
in Illinois
class (See instructions)
15 a
a
/
b
b
/
c
c
/
16
16
Write any distributive share of enterprise zone investment credit from partnerships and S corporations.
17
17
Add Column G, Lines 15a through 15c, and Line 16. Write your Enterprise Zone Investment Credit here.
Economic Development for a Growing Economy (EDGE) Tax Credit
18
18
Write the amount of EDGE Tax Credit awarded to you for this tax year under your agreement with DCEO.
19
19
Write any distributive share of EDGE Tax Credit from partnerships and S corporations.
20
20
Add Lines 18 and 19. Write your EDGE Tax Credit here.
Tax Credit for Affordable Housing Donations
x
=
21
21
Write the total amount of your donation to eligible sponsors.
.50
22
22
Write any distributive share of Tax Credit for Affordable Housing Donations from partnerships and S corporations.
23
23
Add Lines 21 and 22. Write your Tax Credit for Affordable Housing Donations here.
Environmental Remediation Tax Credit
24
24
Write the amount of credit remaining from prior years (see instructions).
25
25
Write any distributive share of Environmental Remediation Tax Credit from partnerships and S corporations.
26
26
Add Lines 24 and 25.
27
27
Write the lesser of Line 26 or $40,000. This is your Environmental Remediation Tax Credit.
Research and Development Credit
(Qualifying expenses must be from research activities conducted in Illinois.)
A
B
Base period avg. expenses
This year’s expenses
Write the following:
28
28
Illinois wages for qualified services (see instructions)
29
29
Illinois cost of supplies
30
30
Illinois rental or lease costs of computers
31
31
65% (.65) of Illinois contract expenses
Figure your credit:
32
32
Add Lines 28 through 31 of each column. Total Illinois qualifying expenses.
33
33
Subtract Column A, Line 32, from Column B, Line 32. If negative, write zero.
34
34
Multiply Line 33 by 6.5% (.065).
35
35
Write any distributive share of research and development credit from partnerships and S corporations.
36
36
Add Lines 34 and 35. Write your Research and Development Credit here.
37
37
Add Lines 11, 12, 14, 17, 20, 23, 27, and 36 Write this amount here and in Step 4, Line 57.
Page 2 of 4
Schedule 1299-C (R-12/05)
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