Form It-Ccc100 - Tax Credit For Cost Of Qualified Child Care Property - 2015 Page 2

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CLEAR

IT-CCC100 (06/10/15)

Department of Revenue

Income Tax Division

Page 2

SECTION 2A Qualified Child Care Property Summary Sheet

20__

Tax Year

Year 1

Year 2

Year 3

Year 4

Year 5

Year 6

Year 7

Year 8

Year 9

Year 10

1. 10 % of

QCCP

2. Other

QCCP @ 10%

3. Other

QCCP @ 10%

4. Total Credit

Available

5. Tax

Liability

6. 50% of

Line 5

7. Credit Lesser

of line 4 or 6

8. Unused Child Care Credit

(Line 4 Less Line 7)

9.Depreciation

Claimed

Instructions for Section 2A

Line 1 should reflect 10% of the cost of the Qualified Child Care Property being claimed for the purposes of this tax credit as well as any carry over

of unused credit starting in year 2. Lines 2 and 3 are to be used if additional qualifying property is purchased during the ten-year period. Line 4 will

combine items on lines 1 through 3 to arrive at the potential tax credit. Line 5 should reflect the tax liability of the taxpayer claiming the credit, if a

loss, please enter zero. Line 6 This credit may be used to offset 50% of a taxpayers liability computed without regard to any other credits. Line 7 is

the credit amount to be claimed on the return. Line 8 reflects any credit which could not be claimed and should be added to line 1 in the following

year to reflect total available credit. Line 9 Taxpayers claiming this credit shall increase Georgia taxable income by the amount of any depreciation

deductions attributable to such property to the extent that such deductions are used in determining federal taxable income or federal adjusted gross

income. If depreciation is not claimed for such property (except that depreciation is not required for any land that is qualified child care property), then the

property will be ineligible for this credit but may qualify under the Cost of Operations Credit on Form IT-CCC75.