Arizona Form 315 Draft - Pollution Control Credit - 2007
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1
2Pollution Control Credit
ARIZONA FORM
2007
315
For the calendar year 2007 or
M M D D Y Y Y Y
M M D D Y Y Y Y
fi scal year beginning
and ending
.
Attach to your return.
Name(s) as shown on Form 140, 140PY, 140NR, 140X, 120, 120A, 120S, 120X, or 165
Social security number or employer identifi cation number
Part I Schedule of Equipment and Calculation of Current Taxable Year’s Credit
If additional space is needed, attach a separate schedule.
(a)
(b)
(c)
Date property placed
Total cost of property used
in service or expected
to reduce pollution incurred
to be placed in service
during the taxable year
Description
1
00
2
00
3
00
4
00
5
00
6
00
7
00
8
00
9
00
10
00
11 Total - add lines 1 through 10 in column (c) ......................................................................................................................................
11
00
12 Total from continuation sheet, if applicable .......................................................................................................................................
12
00
13 Total cost of pollution control equipment incurred during the taxable year - add lines 11 and 12 .....................................................
13
00
14 Tentative credit for current taxable year - multiply line 13 by 10% (.10) ...........................................................................................
14
00
15 Maximum credit allowed ...................................................................................................................................................................
15
$500,000 00
16 Credit for current taxable year - enter the lesser of line 14 or line 15 ...............................................................................................
16
00
A taxpayer who elects to take a credit pursuant to ARS § 43-1081 or § 43-1170 shall reduce the basis for depreciation or amortization of the cost of the
pollution control equipment by the amount of the credit claimed.
Part II S Corporation Credit Election and Shareholder’s Share of Credit
17 The S corporation has made an irrevocable election for the taxable year ending ______/______/________ to:
MM
MM
DD
DD
YYYY
YYYY
(CHECK ONLY ONE BOX)
Claim the pollution control credit as shown on Part I, line 16 (for the taxable year mentioned above);
OR
Pass the pollution control credit as shown on Part I, line 16 (for the taxable year mentioned above) through to its shareholders.
Signature
Title
Date
If passing the credit through to the shareholders, complete lines 18 through 20 separately for each shareholder.
Furnish each shareholder with a copy of the completed Form 315.
18 Name of shareholder
19 Shareholder’s TIN
20 Shareholder’s share of the amount on Part I, line 16 .....................................................................................................................
20
00
ADOR 91-0086 (07)
DRAFT 082107
DRAFT 082107
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