Form R-620crw - Refundable Credits Reduction Worksheet (Acts 125 And 133) For Cift 620, It-541 And R-6922

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R-620CRW (7/15)
Refundable Credits Reduction Worksheet
Income Taxable Period Covered
(Acts 125 and 133) for CIFT 620,
IT-541 and R-6922
2014 and Prior Tax Years
LDR Account Number
CoLumn 1:
CoLumn 2:
Amount prior to
Allowable
Amount allowed under
Line
Description
Act 125 Reduction
Portion
Act 125
1.
Louisiana Citizens Insurance Credit
72%
Schedule RC Reductions
2.
Prison Industry Enhancement (55F)
72%
3.
Milk Producers (58F)
72%
4.
Alternative Fuel – Fueling Station & Conversions (71F)
72%
Alternative Fuel – If taxpayer elects not
See
5.
to determine cost for new car (71F)
instructions
PART II: If your Inventory Tax and/or Ad Valorem natural Gas
1. Inventory Tax Credit,
2. 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 adjustment.
Enter the amount of any Inventory Tax or Ad Valorem
2.
Natural Gas Credit Carryforward from tax
year ________ due to Act 133 adjustment.
3.
Total credit available for use. Add Lines 1 and 2.
Enter the amount of your Income and Franchise Tax Li-
4.
ability (See instructions.).
5.
Louisiana Citizens Insurance Credit
Tax Liability before applying Inventory Tax Credit or Ad
6.
Valorem Natural Gas Credit. Subtract Line 5 from Line 4.
7.
Amount of credit exceeding tax. Subtract Line 6 from 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 Sched-
9.
ule RC.
Subtract Line 8 from Line 7 to compute your credit carry
10
forward to next tax year.

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