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Schedule B Incentives

Rev. 06.12

RECAPTURE OF CREDIT CLAIMED IN EXCESS

20__

AND TAX CREDITS

Taxable year beginning on _______________, _____ and ending on ______________, ______

Taxpayer’s Name

Employer Identification Number

Part I

Recapture of Credit for Investment and for Donation of a Conservation Easement or Eligible Land Claimed in Excess

Column A

Column B

Column C

Name of entity:

Employer identification No:

Credit for:

Tourism Development ............................................................

......................................................

Solid Waste Disposal ............................................................

......................................................

Capital Investment Fund ........................................................

......................................................

Theatrical District of Santurce ..................................................

......................................................

Film Industry Development .....................................................

......................................................

Housing Infrastructure ...........................................................

......................................................

Construction or Rehabilitation of Rental Housing Projects for Low or

Moderate Income Families .................................................

......................................................

Acquisition of an Exempt Business that is in the Process of Closing

its Operations in Puerto Rico .............................................

......................................................

Conservation Easement or Eligible Land .............................

......................................................

Economic Incentives (Research and Development) ....................

......................................................

Economic Incentives (Strategic Projects) ..................................

......................................................

Economic Incentives (Industrial Investment) ..............................

......................................................

Green Energy Incentives (Research and Development) ..............

......................................................

Job Creation:

Act 73-2008

Act 83-2010 ...................

......................................................

Investment in Machinery and Equipment ..................................

......................................................

Reduce the Cost of Electric Power ..........................................

......................................................

Other: _____________________________.................................

......................................................

Total credit claimed in excess ..........................................................................................................................................................

(1)

Recapture of credit claimed in excess paid in previous year, as applicable ..................................................................

(2)

Recapture of credit claimed in excess paid this year (Transfer to Schedule L Inc., Part II, line 9; Schedule N Inc., Part II, line 7;

Schedule P Inc., Part II, line 9; Schedule V Inc., Part III, line 3; Schedule W Inc., Part II, line 6; Schedule X Inc., Part IV, line 3; or Schedule

Y Inc., Part II, line 3, as applicable. See instructions) .........................................................................................................................

(3)

Excess of credit due to next year, if applicable (Subtract lines 2 and 3 from line 1. See instructions) ...........................................................

(4)

Part II

Tax Credits (Do not include estimated tax payments. Refer to Part III of this Schedule)

Credit for taxes paid to the United States, its possessions and foreign countries .................................................................................

(1)

Special credits granted (See instructions) ....................................................................................................................................

(2)

Credit Section 3(a)(3) (Only for exempt businesses under Act No. 8 of 1987) ..................................................................................

(3)

Credit for products manufactured in Puerto Rico (See instructions) ...................................................................................................

(4)

Credit for the purchase of tax credits (Complete Part III) ...............................................................................................................

(5)

Credit attributable to losses in Capital Investment, Tourism or other funds or direct investment (Schedule Q) ...........................................

(6)

Alternative minimum tax paid on previous years ..........................................................................................................................

(7)

Credit for increase in investments ..............................................................................................................................................

(8)

Credit for purchases of products manufactured in Puerto Rico and Puerto Rican agricultural products (Schedule B1 Inc., Part III,

line 8) ....................................................................................................................................................................................

(9)

10.

Credit for donation of an eligible conservation easement or donation of eligible land ..............................................................................

(10)

11.

Credit for construction investment in urban centers ........................................................................................................................

(11)

12.

Credit for merchants affected by urban centers revitalization ..............................................................................................................

(12)

13.

Credit for the 2006 Extraordinary Tax ........................................................................................................................................

(13)

14.

Credit to hospital units over eligible payroll expenses ....................................................................................................................

(14)

15.

Credit for purchases of products manufactured in Puerto Rico (Schedule X1 Incentives, Part I, line 6) …..........................................…

(15)

16.

Credit for investment in research and development (Schedule X1 Incentives, Part III, line 7(a)) …......…...............................….….....…

(16)

17.

Credit for investment in machinery and equipment (Schedule X1 Incentives, Part IV, line 6 or 8, as applicable) ....................................

(17)

18.

Credit to reduce the cost of electric power (Schedule X1 Incentives, Part V, line 6) ............................................................................

(18)

19.

Credit for investment in strategic projects (Schedule X1 Incentives, Part VII, line 5(a)) …....................................................................

(19)

20.

Credit for industrial investment (Schedule X1 Incentives, Part VIII, line 6(a)) .....................................................................................

(20)

21.

Employee retention credit (Submit Schedule B3 Corporation) .........................................................................................................

(21)

22.

Other credits not included on the preceding lines (Submit detail) ......................................................................................................

(22)

23.

Total tax credits (Add lines 1 through 22) ...........................................................................................................................................

(23)

24.

Total tax determined (From the corresponding line of your return) ......................................................................................................

(24)

25.

Credit to be claimed (The smaller of lines 23 or 24. Transfer to the corresponding line of your return) .....................................................

(25)

Retention Period: Ten (10) years

Schedule B Incentives - Recapture Of Credit Claimed In Excess And Tax Credits - 2012

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