Arizona Form 304 Draft - Enterprise Zone Credit - 2010 Page 2
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5Name:
TIN:
AZ Form 304 (2010)
Page 2 of 3
Part V
Credit Calculation for Qualifi ed Employment Positions
14 Arizona residency. Are all of the employees in qualifi ed employment positions Arizona residents?
See instructions before answering this question.
Yes
No
If the answer to this question is no, the business is not eligible for an enterprise zone credit for those qualifi ed
employment positions fi lled by employees who are not Arizona residents.
(a)
(b)
(c)
(d)
Number of qualifi ed
employment positions
Qualifying wages
%
Allowable credit
Employees in fi rst year or
15
25%
partial year of employment in
a qualifi ed employment position
Employees in the second year
16
33 1/3%
of continuous employment in
a qualifi ed employment position
Employees in the third year
17
50%
of continuous employment in
a qualifi ed employment position
18
Totals
Part VI Limited Liability Companies
19 What is the federal tax classifi cation of the limited liability company (LLC)? Check only one box.
S corporation
partnership
disregarded entity
corporation
If the LLC is an S corporation, complete Part VII.
If the LLC is a partnership, complete Part VIII.
Part VII S Corporation Credit Election and Shareholder’s Share of Credit
20 The S corporation has made an irrevocable election for the taxable year ending ______/______/________ to:
MM
MM
DD
DD
YYYY
YYYY
(CHECK ONLY ONE BOX)
Claim the enterprise zone credit as shown on Part V, line 18, column (d) (for the taxable year mentioned above);
OR
Pass the enterprise zone credit as shown on Part V, line 18, column (d) (for the taxable year mentioned above) through to its shareholders.
Signature
Title
Date
If passing the credit through to the shareholders, complete lines 21 through 23 separately for each shareholder.
Furnish each shareholder with a copy of the completed Form 304.
21 Name of shareholder
22 Shareholder’s TIN
23 Shareholder’s share of the amount on Part V, line 18, column (d) .................................................................................................
23
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ADOR 10130 (10)
DRAFT 10/5/09, 11:45 a.m.
DRAFT 10/5/09, 11:45 a.m.
Previous ADOR 91-0050
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