Form 564 Draft - Credit For Employees In The Aerospace Sector

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State Of Oklahoma

564

Credit for Employees in the

Draft

Aerospace Sector

6/9/15

Name as Shown on Return (Qualified Employee):

Social Security Number:

General Information

A $5,000 credit is allowed to a qualified employee who has a degree in a qualified program and who, on or after

January 1, 2009, is employed in Oklahoma by or contracting in Oklahoma with a qualified employer whose principal

business activity is in the aerospace sector. The credit is allowed each year for up to the first five years. To qualify for

the credit the employee may not have been employed in the aerospace sector in Oklahoma immediately preceding

employment or contracting with a qualified employer. For the complete definition of “Qualified Employee” see page 2.

Part 1 – Qualified Employer

Name:

Date Employed

Federal Employer Identification Number:

in Oklahoma:

Part 1 Instructions: Enter the name and Federal Employer Identification Number of your qualified employer. Enter the

date your employment began in Oklahoma with such employer.

Part 2 – College or University

Name:

Location (City and State):

Date Graduated:

Part 2 Instructions: Enter the name and the location of the institution from which you received your engineering

degree. Enter the date graduated.

Part 3 – Credit Computation

1. Credit for Employment during Tax Year 2015 ....................................................................

2. Unused Carryover Credit from Tax Year __________ .......................................................

3. Total Credit Available for Tax Year 2015 (Add lines 1 and 2; enter here and on Form

511CR, line 30) ..................................................................................................................

Part 3 Instructions:

Line 1. Enter $5,000 if you are in your first five years of employment in Oklahoma with a qualified employer. The

credit is allowed each year for up to five taxable years.

Line 2. Enter the credit(s) allowed but not used in prior years. Any unused credits may be carried over, in order, for

up to five years from the date the credit was originally established. Enter the tax year(s) when the credit was

originally established.

Line 3. This is the amount of credit allowed this year. If the credit available exceeds your tax, you may carry over any

unused credit for a period not to exceed 5 years from the date the credit was originally established. You will

need to complete a Form 564 for each of the carryover years.

Form 564 Draft - Credit For Employees In The Aerospace Sector - 2015