Instructions For Idaho Form 67 (Page 2 of 3) in pdf

TC67011-4

Page 2

11-06-01

lease of computers used in qualified research conducted in Idaho.

Line 10. Enter the average annual gross receipts attributable to

The computer must be located off your premises and you must

Idaho using the multistate corporation apportionment rules for the

not be the operator or primary user of the computer. Reduce this

four tax years preceding the tax year for which the credit is being

amount by the amount that you or any member of a controlled

determined. Do not include returns and allowances. You may be

group of corporations or businesses under common control

required to annualize gross receipts for any short tax year. See

received or accrued for the right to use substantially identical

IRC Section 41(c)(1)(B and Section 41(f)(4).

property.

Line 17. Enter the amount of Idaho research credit that is being

Line 7. Enter 65% of the amount you paid or incurred for qualified

passed to you from partnerships, S corporations, estates, or trusts

research conducted in Idaho that was performed on your behalf.

in which you have an interest. Attach a copy of the schedule

Prepaid contract research expenses are considered paid in the

provided to you.

year the research is actually done. Also, include 65% of that

portion of the line 1 basic research payments that does not exceed

Line 18. If you are a member of a unitary group of corporations,

the line 2 base amount.

enter the amount of credit you received from another member of

the unitary group.

If the payments were made to a qualified research consortium that

conducted research in Idaho, use 75% instead of 65%. A qualified

Line 19. If you are a partnership, S corporation, estate, or trust,

research consortium is a tax-exempt organization described in IRC

enter the amount of credit that passed through to partners,

Section 501(c)(3) or 501(c)(6) that is organized and operated

shareholders, or beneficiaries.

primarily to conduct scientific research and is not a private

foundation.

Line 20. If you are a member of a unitary group of corporations,

enter the amount of credit you earned that you elect to share with

Line 9. If you elected to be treated as a start-up company for the

other members of your unitary group. Before you can share your

Idaho research credit, the fixed-base percentage is computed as if

credit, you must use the credit up to the allowable limitation of

you were a start-up company for federal research credit purposes.

your tax liability.

Your fixed-base percentage is computed as follows:

Corporations claiming the Idaho research credit must provide a

•

For the first five tax years beginning after 1993 that you have

calculation of the credit earned and used by each member of the

qualified research expenses for research conducted in Idaho,

combined group. The schedule must clearly identify shared credit

the percentage is 3%.

and the computation of any credit carryovers.

•

For the 6th tax year beginning after 1993 for which you have

CREDIT LIMITATIONS

qualified research expenses for research conducted in Idaho,

The Idaho research credit is limited to the tax liability after allowing

divide the aggregate qualified research expenses for research

all other tax credits that can be claimed before the Idaho research

conducted in Idaho for the 4th and 5th such tax years by the

credit. If the credit for qualifying new employees is claimed, the

aggregate Idaho gross receipts for those tax years, and

Idaho research credit and all credits except the credit for taxes paid

multiply the result by 0.1667.

to other states are limited to 50% of your tax liability after deducting

the credit for tax paid to other states.

•

For the 7th tax year beginning after 1993 for which you have

qualified research expenses for research conducted in Idaho,

The following credits must be applied to the tax before the Idaho

divide the aggregate qualified research expenses for research

research credit:

conducted in Idaho for the 5th and 6th such tax years by the

aggregate Idaho gross receipts for those tax years, and

Credit for tax paid to other states;

multiply the result by 0.3333.

Credit for contributions to Idaho educational entities;

Investment tax credit;

•

For the 8th tax year beginning after 1993 for which you have

Credit for contributions to youth and rehabilitation facilities;

qualified research expenses for research conducted in Idaho,

Credit for production equipment using post-consumer waste;

divide the aggregate qualified research expenses for research

Natural resources conservation credit;

conducted in Idaho for the 5th, 6th and 7th such tax years by

Promoter-sponsored event credit; and

the aggregate Idaho gross receipts for those tax years, and

Credit for qualifying new employees.

multiply the result by 0.5.

If the credit for qualifying new employees is claimed, complete

If you did not elect to be treated as a start-up company, the fixed-

lines 23 through 29 and skip lines 30 through 33. If the credit for

base percentage is computed by dividing the aggregate qualified

qualifying new employees is not claimed, skip lines 23 through 29

research expenses for research conducted in Idaho for the tax

and complete lines 30 through 33.

years beginning after 1983 and before 1989 by the aggregate

Idaho gross receipts.

Line 22. Enter the amount of your income tax liability. Income tax

liability is the computed tax before adding the permanent building

The fixed-base percentage for all companies including start-up

fund tax, any other taxes or subtracting any credits.

companies must be rounded to the nearest 1/100 of 1% (four

decimal places) and cannot exceed 16%.

Line 23. Individuals enter the credit for tax paid to other states as

computed on Form 39R or Form 39NR.

Instructions For Idaho Form 67 Page 2

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