Form R-540crw - Refundable Credits Reduction Worksheet (Acts 125 And 133) For It-540, It-540b And It-540b-Nra

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R-540CRW (7/15)
Tax Year
Refundable Credits Reduction Worksheet
(Acts 125 and 133) for IT-540, IT-540B and
IT-540B-nRA
2014 and Prior Tax Years
Social Security Number
CoLumn 1:
CoLumn 2:
Amount prior to Act 125
Allowable
Amount allowed
Line
Description
Reduction
Portion
under Act 125
1.
Louisiana Citizens Insurance Credit
72%
Schedule F Reductions
2.
Credit for Military Hunting & Fishing Licenses
72%
3.
Prison Industry Enhancement (55F)
72%
4.
Milk Producers (58F)
72%
5.
Historic Residential (60F)
72%
6.
Alternative Fuel – Fueling Station & Conversions (71F)
72%
Alternative Fuel – If taxpayer elects not
See
7.
to determine cost for new car (71F)
instructions
CoLumn 1:
CoLumn 2:
PART II: If your Inventory Tax and/or Ad Valorem natural Gas
Inventory Tax Credit,
Ad Valorem natural Gas
credit is $10,000 or more, complete Lines 1 through 10.
code 50F
Credit, code 51F
1
Total amount of your credit before Act 133 reduction.
Enter the amount of any Inventory Tax or Ad Valorem
2
Natural Gas Credit Carryforward from tax
year _________ due to Act 133.
3
Total credit available for use. Add Lines 1 and 2.
Enter the amount of your total income and consumer
4
use tax.
Enter the amounts of refundable credits applied on your
5
return before this Schedule F.
5a
Refundable School Readiness Credit
5b
Refundable Child Care Credit
5c
Earned Income Credit
5d
Louisiana Citizens Insurance Credit
Total Refundable credits applied on your return before
5e
this schedule. Add Lines 5a through 5d.
Tax Liability before applying Inventory Tax Credit or Ad
6
Valorem Natural Gas Credit. (See instructions)
Amount of credit exceeding tax. Subtract Line 6 from
7
Line 3.
If Line 7 is greater than zero, multiply Line 7 by 75
8
percent. This is the refundable portion of your credit.
Add Line 6 and Line 8. Enter result here and on
9
Schedule F.
Subtract Line 8 from Line 7 to compute your credit carry
10
forward to next tax year.

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