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the interest due. For details, see Form

allowable credit on line 6c, if the

Allocations to patrons of subchapter

8621.

cooperative is filing:

T cooperatives. The cooperative may

•

Credit for Alcohol Used as Fuel

elect to allocate any or all of certain

Line 4. Alternative Minimum

(Form 6478 (see Allocation to patrons

credits (Forms 6478, 8835 (Section A

Tax (AMT)

below)),

or Section B), 8864, or 8896) among

•

Empowerment Zone and Renewal

the patrons based on the quantity or

Unless the cooperative is treated as a

Community Employment Credit (Form

value of business done with or for such

small corporation exempt from the

patrons. For the allocation to take

8844), or

AMT, it may owe AMT if it has any of

•

effect, the cooperative must designate

Renewable Electricity, Refined Coal,

the adjustments and tax preference

the apportionment in a written notice

and Indian Coal Production Credit

items listed on Form 4626, Alternative

mailed to its patrons before the due

(Form 8835, Section B only (see

Minimum Tax – Corporations. The

Allocation to patrons below)) .

date of the cooperative’s return. The

cooperative must file Form 4626 if its

credit amount allocated to patrons

taxable income (or loss) before the

If the cooperative is required to file

cannot be included on line 6c. Once

NOL deduction combined with these

Form 3800, General Business Credit,

made, the election cannot be revoked.

adjustments and tax preference items is

check the “Form 3800” box and include

For more information, see the

more than the lesser of:

the allowable credit on line 6c. See the

•

instructions for Forms 6478, 8835,

$40,000, or

Instructions for Form 3800.

•

8864, or 8896. For tax associated with

The cooperative’s allowable

a decrease in the credit allocated to

exemption amount (from Form 4626).

If the cooperative is not required to

patrons, see Other Taxes below.

file Form 3800, check the “Form(s)”

Exemption for small corporations. A

box, enter the form number (from the

cooperative is treated as a small

Any excess investment credit,

list below) in the space provided, and

corporation exempt from the AMT for its

work opportunity credit, Indian

include on line 6c the allowable credit

tax year beginning in 2005 if that year

employment credit,

CAUTION

from the applicable form listed below.

is the cooperative’s first tax year in

empowerment zone or renewal

•

Investment Credit (Form 3468).

existence (regardless of its gross

community employment credit,

•

Work Opportunity Credit (Form

receipts) or:

welfare-to-work credit, or new markets

5884).

credit not used by the cooperative

1. It was treated as a small

•

Welfare-to-Work Credit (Form 8861).

(because of the tax liability limitation)

corporation exempt from the AMT for all

•

Credit for Increasing Research

must be passed through to the patrons.

prior tax years beginning after 1997,

Activities (Form 6765).

These credits cannot be carried back or

and

•

Low-Income Housing Credit (Form

over by the cooperative. See Forms

2. Its average annual gross receipts

8586).

8844, 3468, 8845, 8861, and 8874 for

for the 3-tax-year period (or portion

•

Enhanced Oil Recovery Credit (Form

details.

thereof during which the cooperative

8830).

was in existence) ending before its tax

•

Line 6d. Credit for Prior Year

Disabled Access Credit (Form 8826).

year beginning in 2005 did not exceed

•

Renewable electricity production

Minimum Tax

$7.5 million ($5 million if the

credit (Form 8835, Section A only (see

cooperative had only 1 prior tax year).

To figure the minimum tax credit and

Allocation to patrons below)).

•

any carryforward of that credit, use

Indian Employment Credit (Form

For more information, see the

Form 8827, Credit for Prior Year

8845).

Instructions for Form 4626.

•

Minimum Tax – Corporations.

Credit for Employer Social Security

Line 6a. Foreign Tax Credit

and Medicare Taxes Paid on Certain

Also see Form 8827 if any of the

Employee Tips (Form 8846).

cooperative’s 2004 nonconventional

To find out when a cooperative can

•

Orphan Drug Credit (Form 8820).

source fuel credit, orphan drug credit,

take the credit for payment of income

•

New Markets Credit (Form 8874).

or qualified electric vehicle credit was

tax to a foreign country or U.S.

•

Credit for Small Employer Pension

disallowed solely because of the

possession, see Form 1118, Foreign

Plan Startup Costs (Form 8881).

tentative minimum tax limitation. See

Tax Credit – Corporations.

•

Credit for Employer-Provided

section 53(d).

Line 6b. Other Credits

Childcare Facilities and Services (Form

Line 9. Other Taxes

8882).

Claim these credits in the following

•

Qualified Railroad Track

Include any of the following taxes and

order:

•

Maintenance Credit (Form 8900).

interest in the total on line 9. Check the

Form 5735, Possessions Corporation

•

Biodiesel and Renewable Diesel

appropriate box(es) for the form, if any,

Tax Credit;

•

Fuels Credit (Form 8864).

used to compute the total.

Form 8907, Nonconventional Source

•

Low Sulfur Diesel Fuel Production

Fuel Credit (line 23 for calendar year

Alternative tax on qualifying

Credit (Form 8896).

filers only); and

shipping activities. Enter any

•

Distilled Spirits Credit (Form 8906).

Form 8834, Qualified Electric Vehicle

alternative tax on qualifying shipping

•

Nonconventional Source Fuel Credit

Credit.

activities from Form 8902. Check the

(Form 8907).

box for Form 8902.

•

Note. For tax years ending after

Energy Efficient Home Credit (Form

December 31, 2005, the

Recapture of investment credit. If the

8908).

•

nonconventional source fuel credit is a

cooperative disposed of investment

Alternative Motor Vehicle Credit

general business credit included on

credit property or changed its use

(Form 8910).

•

Form 3800.

before the end of its useful life or

Alternative Fuel Vehicle Refueling

recovery period, see Form 4255,

Property Credit (Form 8911).

Line 6c. General Business

•

Recapture of Investment Credit, for

Credit for Contributions to Selected

Credit

details.

Community Development Corporations

(Form 8847).

The following credits are not reported

Recapture of low-income housing

•

on Form 3800. Check the “Form(s)”

Credit for Employers Affected by

credit. If the cooperative disposed of

box, enter the form number in the

Hurricane Katrina, Rita, or Wilma (Form

property (or there was a reduction in

space provided, and include the

5884-A).

the qualified basis of the property) for

-18-

Instructions For Form 990-C - Farmers' Cooperative Association Income Tax Return - Internal Revenue Service - 2005 Page 18

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