Schedule X Incentives - Income Tax For Exempt Businesses Under Act 73-2008
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1
2Schedule X Incentives
INCOME TAX FOR EXEMPT BUSINESSES UNDER
20__
ACT 73-2008
Rev. 06.12
To be filed with Form 480.30(II)DI
Taxable year beginning on _________, _____ and ending on _________, _____
Type of Decree:
Taxpayer's Name
Employer Identification Number
New
Renegotiated
Type of Business
Case Number
Converted
Period in force for income:
Number of jobs directly related with manufacture or designated service:
Current:_________
Required by Decree:__________
Begins:__________ Ends:_____________
Basis Period Average Income (Applies only to renegotiated decrees under Section 13(b)(1))
Part I
Basis period average income as determined in your decree: ______________________________________________________________________________
Part
III
Net Income Subjet to Tax (Applies only to renegotiated decrees under Section 13(b)(1))
00
1.
Net operating income (or loss) for the year (Part VI, line 40) .........................................................................................................................
(1)
00
2.
Less: Investment income (See instructions) ...........................................................................................................................................
(2)
3.
Total industrial development income (or loss) (Subtract line 2 from line 1. If an operating loss, do not continue.
00
Enter zero (-0-) here and on line 5) .............................................................................................................................................................................
(3)
00
4.
Net operating loss from preceding year (See instructions)..........................................................................................................................
(4)
00
5.
Net industrial development income subject to special deduction (Subtract line 4 from line 3.If it is equal or smaller than 0, do not continue)
(5)
00
6.
Investment on buildings, structures, machinery and equipment deduction .........................................................................................
(6)
00
7.
Net industrial development income after special deduction (Subtract line 6 from line 5). .....................................................................
(7)
00
8.
Less: Basis period income (Same as Part I. See instructions) .......................................................................................................
(8)
00
9.
Net industrial development income subject to tax (Subtract line 8 from line 7. See instructions. Continue with Part IV) ............................
(9)
Part III
Net Income Subjet to Tax (Except renegotiated decrees under Section 13(b)(1))
00
1.
Net operating income (or loss) for the year (Part VI, line 40) .........................................................................................................................
(1)
00
2.
Less: Investment income (See instructions) ...........................................................................................................................................
(2)
3.
Total industrial development income (or loss) (Subtract line 2 from line 1. If an operating loss, do not continue.
00
Enter zero (-0-) here and on line 5) .............................................................................................................................................................................
(3)
00
4.
Net operating loss from preceding year (See instructions)..........................................................................................................................
(4)
00
5.
Net industrial development income (Subtract line 4 from line 3.If it is equal or smaller than 0, do not continue) ...............................
(5)
00
6.
Less: Industrial development income subject to tax rates under the Code, as provided by Section 3(f) and 3(g) (See instructions) ............
(6)
00
7.
Net industrial development income subject to special deduction (Subtract line 6 from line 5.If it is equal or smaller than 0, do not continue)
(7)
00
8.
Investment on buildings, structures, machinery and equipment deduction .........................................................................................
(8)
00
9.
Net industrial development income subject to tax (Subtract line 8 from line 7. See instructions. Continue with Part IV) .......................
(9)
Tax Computation
Part IV
1.
Fixed tax rate on IDI:
(1a)
8% (1b)
4% (1c)
2% (1d)
1% (1e)
other
%
00
2.
Total tax (Multiply line 9, Part II or III, as applicable, by line 1) ..................................................................................................
(2)
3.
Recapture of credit claimed in excess (Schedule B Incentives, Part I, line 3) ..............................................................................
00
(3)
4.
Tentative tax (Add lines 2 and 3) ……………………………………………………………………………….......................…….……….
(4)
00
5.
Less credits:
00
a)
Credit for purchases of products manufactured in Puerto Rico (Schedule X1 Incentives, Part I, line 6) ........
(5a)
00
b)
Credit for job creation (Schedule X1 Incentives, Part II, line 5) ……….......................………....…..
(5b)
00
c)
Credit for investment in research and development (Schedule X1 Incentives, Part III, line 7(a)) .................
(5c)
00
d)
Credit for investment in machinery and equipment (Schedule X1 Incentives, Part IV, line 6 or 8, as applicable) .......
(5d)
00
e)
Credit to reduce the cost of electric power (Schedule X1 Incentives, Part V, line 6) .........................
(5e)
00
f)
Credit for intellectual property transfer (Schedule X1 Incentives, Part VI, line 5) ..…........................
(5f)
00
g)
Credit for investment in strategic projects (Schedule X1 Incentives, Part VII, line 5(a)) ...........................
(5g)
00
h)
Credit for industrial investment (Schedule X1 Incentives, Part VIII, line 6(a)) ....….....................…..
(5h)
00
i)
Credit for donation of an eligible conservation easement or donation of eligible land ...................................
(5i)
00
j)
Credit for construction investment in urban centers (See instructions) .…………………....................
(5j)
00
k)
Credit for merchants affected by urban centers revitalization (See instructions) …..…......................
(5k)
00
l)
Other applicable credits (See instructions) ………………………………………………...………....….
(5l)
00
m)
Total credits (Add lines 5(a) through 5(I)) …………………………………………………………………………...................……..……
(5m)
00
6.
Net tentative tax (Subtract line 5(m) from line 4) …………..…………………………………………………………………….…….….......
(6)
7.
Minimum tax rate: (7a)
1% (7b)
3% (7c)
other
%
8.
Minimum tentative tax (Multiply line 9, Part II or III, as applicable, by line 7) …………………………………………...........................
00
(8)
00
9.
Less: Tax withheld on royalty payments ..……………………………………………………………………………………………........….
(9)
00
10.
Minimum tax (Subtract line 9 from line 8) ................................................................................................................................
(10)
11.
00
Total tax liability (Enter the larger of lines 6 and 10. Transfer to Form 480.30(II)DI, Part I, line 1(c)) …….…................................…
(11)
00
12.
Enter here: 95% of line 11 ... (12a)
and 5% of line 11 ................................................................
(12b)
00
Período de Conservación: Diez (10) años
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