Instructions For Idaho Form 67
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3TC67011-3
11-06-01
Instructions for Idaho Form 67
beginning in 2001. Complete and attach both pages of the Form
GENERAL INSTRUCTIONS
67 for this computation period. You will list the credit for the first
computation period on line 16b of this Form 67.
Form 67 is used to calculate the credit for Idaho research activities
(Idaho research credit) earned or allowed. Each member of a
The credit for your tax year beginning in 2005 will be computed
unitary group that earns or is allowed the credit must complete a
including research activities for the period beginning with the first
separate Form 67.
day of the 2005 tax year to December 31, 2005.
Qualified Research
Once you make your election, it cannot be changed unless the
The Idaho research credit conforms to the Internal Revenue Code
statute of limitations is open for assessment for all tax years to
(IRC) as to the definitions of basic research payments, basic
which the credit was claimed and all such returns are amended
research, qualified research expenses, and qualified research,
consistently with the change in election.
except that only the amounts related to research conducted in
Idaho qualify for the Idaho research credit.
Election to be Treated as a Start-Up Company
You may elect to be treated as a start-up company for the Idaho
Gross receipt calculations include only those gross receipts that
research credit even though you do not qualify as a start-up
are attributable to Idaho using the multistate corporation apportion-
company for purposes of the federal research credit. If you make
ment rules. These are referred to in the instructions as Idaho
the election, you must use the federal rules under IRC Section 41
gross receipts.
for start-up companies to determine the fixed-base percentage.
However, the calculation will be different from the federal calcula-
The Idaho credit does not include the calculation of the alternative
tion in the following ways:
incremental credit, which is allowed in computing the federal
credit.
•
Qualified research expenses will include only qualified
research expenses for research conducted in Idaho; and
Unitary Sharing
•
Aggregate gross receipts will include only Idaho gross
A corporation included as a member of a unitary group of corpora-
receipts.
tions may elect to share the Idaho research credit it earns but does
not use with other members of the unitary group. The corporation
Once you make this election, you cannot change it. To make the
must claim the Idaho research credit to the extent allowable
election to be treated as a start-up company, mark the YES box.
against its tax liability before it can share the credit.
If you do not wish to make this election, mark the NO box.
Carryover Periods
The credit carryover is limited to 14 tax years.
CREDIT AVAILABLE SUBJECT TO LIMITATION
Like the federal research credit, corporations that are not S
Special Rules
corporations, personal holding companies, or service organiza-
If you have a short tax year or you are a fiscal year taxpayer who
tions can only claim the portion of the credit that is computed on
makes the election for the five-year period to begin on January 1,
the excess of qualified research payments over the base amount.
2001, see Internal Revenue Code Sections 41(f)(4) and 41(h).
All taxpayers other than these qualifying corporations should begin
on line 4.
SPECIFIC INSTRUCTIONS
Instructions are for lines not fully explained on the form.
Line 1. If you are a qualifying corporation as discussed above,
enter the amount of your payments to a qualified university or
ELECTIONS
scientific research organization that are paid under a written
contract for basic research conducted in Idaho.
Election of Five-Year Period -- Fiscal Year Filers Only
If you are not a calendar year filer, you may elect to compute the
Line 2. Enter the qualified organization base period amount as
Idaho research credit for one of the following five-year periods:
defined in IRC Section 41(e) that relates to research conducted in
Idaho.
•
The five-year period beginning with January 1, 2001; or
•
The five-year period beginning with the first day of the
Line 4. Enter the amount of wages paid to an employee for
taxpayer’s tax year beginning in 2001.
qualified services performed by the employee in Idaho. Qualified
services mean services consisting of engaging in qualified
Check the box for the five-year period that you elect. If you elect
research or engaging in the direct supervision or direct support of
the five-year period beginning with January 1, 2001, you will have
research activities that constitute qualified research.
two credit computation periods for the credit earned on the return
for your tax year beginning in 2001. The first computation period
will begin on January 1, 2001 and end on the last day of your fiscal
Line 5. Enter the amount of supplies used in Idaho in the conduct
year ending in 2001. For this computation period, complete lines
of qualified research. Supplies mean any tangible property other
1 through 16a of page one. This page must be attached to your
than land or improvements to land, and property of a character
Form 67 for the second computation period.
subject to the allowance for depreciation.
The second computation period will be for your entire fiscal year
Line 6. Enter the amount you paid or incurred for the rental or
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