Schedule B1 Individual - Credit For Purchase Of Products Manufactured In Puerto Rico - 2014

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Schedule B1 Individual
CREDITS FOR PURCHASE OF PRODUCTS
MANUFACTURED IN PUERTO RICO
2014
Rev. Feb 3 14
AND PUERTO RICAN AGRICULTURAL PRODUCTS
Taxable year beginning on ____________ , _____ and ending on ___________ , _____
Taxpayer's name
Social Security Number
Part I
Credit for Increase in Purchases of Puerto Rican Agricultural Products (Section 1051.07)
13
Agricultural Production Group, Agricultural
Contract Number
Purchases Increase
Percentage
Amount of Credit
Sector or Qualified Farmer
Department of Agriculture
Granted
00
(01)
(06)
(02)
(07)
00
(03)
(08)
00
(04)
(09)
00
(05)
(10)
00
00
1. Total credit for purchases of Puerto Rican agricultural products ....................................................................................................
(11)
00
2. Credit carried from previous years (Submit Schedule) ..........................................................................................................................
00
3. Total available credit under Section 1051.07 (Add lines 1 and 2. Complete Part IV) ..................................................................................
(12)
Part II
Credit for Purchase of Products Manufactured in Puerto Rico (Section 1051.09)
Manufacturing business:
1 Yes
2 No
Exemption Decree:
3 Yes
4 No
Annual sales volume in excess of $5,000,000:
5 Yes
6 No
Eligible purchases of products manufactured in Puerto Rico:
¿Did you receive from the manufacturer a
Employer Identification
Manufacturing Business
Manufacturing Business
Purchases Value
certification establishing that the product is
Number
Identification Number
eligible?
Yes
No
00
Yes
No
00
Yes
No
00
Yes
No
00
Yes
No
00
Yes
No
00
1. Total aggregate purchases value .......................................................................................................................................
(13)
00
2. Aggregate purchases value of products manufactured in Puerto Rico during 3 of the 10 previous taxable years in which the purchases were smaller:
Year:
Aggregate purchases value:
00
00
00
3.
Average of aggregate purchases value during the basis period ...........................................................................................................
00
(14)
4.
Purchases increase (Subtract line 3 from line 1) ...............................................................................................................................
00
(15)
5.
Total available credit under Section 1051.09 (Multiply line 4 by 10%. Transfer to Part III, line 3) .............................................................
00
(16)
Part III
Credit for Purchase of Products Manufactured in Puerto Rico (Tuna Processing) (Section 1051.09)
Manufacturing business:
1 Yes
2 No
Exemption decree:
3 Yes
4 No
Annual sales volume in excess of $5,000,000:
5 Yes
6 No
Eligible purchases of tuna products manufactured in Puerto Rico:
¿Did you receive from the manufacturer a
Employer Identification
Manufacturing Business
Manufacturing Business
Purchases Value
certification establishing that the product
Number
Identification Number
is eligible?
Yes
No
00
Yes
No
00
1.
Total aggregate purchases value .....................................................................................................................................
00
(17)
2.
Amount of credit (Multiply line 1 by 10%) ...............................................................................................................................
00
(18)
3.
Credit for purchase of products manufactured in Puerto Rico (Part II, line 5) ...........................................................................................
00
(19)
4.
00
Credit carried from previous years (Submit Schedule) .....................................................................................................................
5.
Total available credit under Section 1051.09 (Add lines 2, 3 and 4. Transfer to Part IV, line 5) ................................
00
(20)
Part IV
Limitation of Credits for Purchases of Products Manufactured in PR and Puerto Rican Agricultural Products
00
1.
Tax determined (Form 482.0, Part 3, lines 15 and 18) ..................................................................................................................................
(21)
00
2.
Recapture of credit claimed in excess (Form 482.0, Part 3, line 20) ...................................................................................................
(22)
00
3.
Total tax liability (Add lines 1 and 2) ....………..…………………............………...................…............................................................
(23)
00
4.
Limitation of 1051.07 and 1051.09 credits (Multiply line 3 by 25%) .....…….............................................................................................
(24)
00
5.
Available credit under Sections 1051.07 and 1051.09 (Add line 3 of Part I and line 5 of Part III) .…...........................................................
(25)
00
6.
Credit to be claimed under Sections 1051.07 and 1051.09 (Line 4 or 5, whichever is smaller. Transfer to Schedule B Ind., Part II, line 11) .............
(26)
Retention Period: Ten (10) years

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