Arizona Form 308-I - Credit For Increased Research Activities - Individuals - 2002 Page 2
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2AZ Form 308-I (2002) Page 2
Part IV Calculation of Credit Carryover Limitation
(Carryovers from taxable years beginning January 1, 2001 through December 31, 2002)
The portion of the available credit carryovers included in the amount from Part III, line 14, that may be claimed by the taxpayer is limited to the LESSER
OF: (a) the tax liability [Form 301, Part II, line 34], or (b) $500,000, MINUS the current year credit for increased research activities (regardless of the
amount of the current year credit that is claimed on the tax return). [If the current year credit for increased research activities is $500,000 or more, the
taxpayer cannot use the credit for increased research activities carryover in that taxable year.]
15 Available credit carryover - amount from Part III, line 14.................................................................................................................
15
16 Tax liability - amount from Form 301, Part II, line 34 .......................................................................................................................
16
17 .........................................................................................................................................................................................................
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$500,000
18 Enter the lesser of line 16 or line 17 ................................................................................................................................................
18
19 Current taxable year’s credit - total of amounts from Part I, line 12, and Part II, line 13 .................................................................
19
20 Subtract line 19 from line 18. Enter the difference. (If this is a negative amount, enter zero) .......................................................
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21 Enter the lesser of line 15 or line 20. This is the maximum amount of the credit carryover that may be claimed ..........................
21
NOTE: The amount of the credit carryover claimed on the tax return may be further reduced if the taxpayer claims other nonrefundable tax credits.
Part V
Total Available Credit
22 Current taxable year’s credit - add amounts from Part I, line 12, and Part II, line 13 ......................................................................
22
23 Credit carryover - amounts from Part IV, line 21. (see instructions) ................................................................................................
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24 Total available credit - add lines 22 and 23. Enter total here and on Form 301 Part I, line 6. ......................................................
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ADOR 91-5377 (02)
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