Instructions For 2012 Schedule Ve - Department Of Veteran Affairs (Page 2 of 2) in pdf

Schedule VE Instructions

Line 8 Enter the amount of credit from line 8 on the

If the veteran is an eligible veteran, the WDVA will

appropriate form or schedule as follows:

mail confirmation to the employer. The employer

may not claim the credit unless the confirmation of

•

Corporations that are members of a combined

the veteran’s eligibility has been received from the

group: Enter the amount of credit on Form 4M.

WDVA. Employers should keep a copy of the

certification request and the confirmation with their

•

Tax-option (S) corporations, partnerships, and

records.

LLCs treated as partnerships: Prorate the

amount of credit on line 8 among the

Credit is Income

shareholders, partners, or members based on

their ownership interest. Show the credit for

The credit that you compute on Schedule VE is

each shareholder on Schedule 5K-1 and for

income and must be reported on your Wisconsin

each partner or member on Schedule 3K-1.

franchise or income tax return in the year

computed.

•

Fiduciaries – Complete lines 8a and 8b.

Carryforward of Unused Credits

•

All others: Enter the amount of credit on line 5

of Schedule CR.

The veteran employment credit is nonrefundable.

Any unused credit may be carried forward for up to

Line 8a Fiduciaries – Prorate the credit from line

15 years.

8 between the entity and its beneficiaries in

proportion to the income allocable to each. Show

If there is a reorganization of a corporation claiming

the beneficiaries’ portion of the credit on line 8a.

the veteran employment credit, the limitations pro-

Show the credit for each beneficiary on Schedule

vided by Internal Revenue Code section 383 may

2K-1.

apply to the carryover of any unused credit.

SPECIFIC INSTRUCTIONS

Line 8b Subtract line 8a from line 8. This is the

estate’s or trust’s portion of the credit. Fill in here

Line 1 Enter the number of qualified disabled

and on line 5 of Schedule CR.

veterans hired in the taxable year to work full-time

Required Attachment to Return

at your business in Wisconsin. The veteran must

meet the definition of “disabled veteran,” as

File your completed Schedule VE (including work-

certified by WDVA, and (1) received unemployment

sheets from page 2 of Schedule VE) with your

compensation benefits for a least one week prior to

Wisconsin franchise or income tax return. Share-

being hired, (2) was receiving such benefits at

holders of tax-option (S) corporations, partners of

the time he or she was hired, and (3) was eligible

partnerships, members of LLCs treated as partner-

to receive such benefits at the time the benefits

ships, and beneficiaries of estates or trusts must

were paid.

file a copy of Schedule 5K-1, 3K-1, or 2K-1, as

appropriate, with Schedule VE. Employers must

Line 4 Complete the worksheet on page 2 of

keep all required certifications relating to the

Schedule VE to determine your credit for hiring a

veterans for their records.

qualified disabled veteran to work part-time at your

business in Wisconsin.

Additional Information

Line 7 Fill in the amount of veteran employment

For more information, you may contact any

credit

passed

through

from

tax-option

(S)

Department of Revenue office or:

corporations,

partnerships,

LLCs

treated

partnerships, and estates, or trusts. The pass-

•

Call (608) 266-2772

through credit is shown on Schedule 5K-1 for

shareholders

tax-option

(S)

corporations,

•

E-mail your question to: corp@revenue.wi.gov.

Schedule 3K-1 for partners and LLC members, and

Schedule 2K-1 for beneficiaries of estates or trusts.

Instructions For 2012 Schedule Ve - Department Of Veteran Affairs Page 2

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