Arizona Form 325 - Agricultural Pollution Control Equipment Credit

2004

ARIZONA FORM

Agricultural Pollution Control Equipment Credit

325

YYYY

For taxable year beginning ______/______/________, and ending ______/______/________,

Attach to your return

Name(s) as shown on Forms 140, 140PY, 140NR, 140X, 120, 120A, 120S, 120X, or 165

Social security number or employer identiﬁ cation number

Part I

Schedule of Equipment and Calculation of Current Taxable Year’s Credit

If additional space is needed, attach a separate schedule.

(a)

(b)

(c)

Total cost of property

Date property

used to reduce

placed in service

Description

agricultural pollution

11 Total - add lines 1 through 10 in column (c).....................................................................................................................................

12 Total from continuation sheet if applicable.......................................................................................................................................

13 Total cost of agricultural pollution control equipment - add lines 11 and 12.....................................................................................

14 Tentative credit for current taxable year - multiply line 13 by 25% (.25) ..........................................................................................

25,000

15 Maximum credit allowed ..................................................................................................................................................................

16 Credit for current taxable year - enter the lesser of line 14 or line 15..............................................................................................

A taxpayer who elects to claim a credit under ARS § 43-1081.01 or § 43-1170.01 shall reduce the basis for depreciation or amortization of costs of the agricultural

pollution control equipment by the amount of the credit claimed.

Part II

S Corporation Credit Election and Shareholder’s Share of Credit

YYYY

17 The S corporation has made an irrevocable election for the taxable year ending ______/______/________ to:

(CHECK ONLY ONE BOX)

Claim the agricultural pollution control equipment credit as shown on Part I, line 16 (for the taxable year mentioned above);

Pass the agricultural pollution control equipment credit as shown on Part I, line 16 (for taxable year mentioned above) through to its shareholders.

Signature

Title

Date

If passing the credit through to the shareholder, complete lines 18 through 20 separately for each shareholder. Furnish each shareholder with a copy of the

completed Form 325.

18 Name of shareholder

19 Shareholder’s TIN

20 Shareholder’s share of the amount on Part I, line 16

ADOR 91-0017 (04)