Arizona Form 308 Draft - Credit For Increased Research Activities - 2007
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1
2
3Credit for Increased Research Activities
ARIZONA FORM
2007
308
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 as shown on Form 120, 120A, 120S, 120X, or 165
Employer identifi cation number
Part I
Current Taxable Year Credit Calculation
1 Basic research payments paid or incurred to qualifi ed organizations. See instructions ...................
1
00
2 Qualifi ed organization base period amount ......................................................................................
2
00
3 Subtract line 2 from line 1. If less than zero, enter zero ..................................................................................................................
3
00
4 Wages for qualifi ed services (do not include wages used in fi guring the
federal work opportunity credit) ........................................................................................................
4
00
5 Cost of supplies ................................................................................................................................
5
00
6 Rental or lease cost of computers ....................................................................................................
6
00
7 Contract research expenses. See instructions .................................................................................
7
00
8 Total qualifi ed research expenses. Add lines 4 through 7. Enter the total .......................................................................................
8
00
9 Average annual Arizona gross receipts. See instructions .................................................................
9
00
.
10 Fixed-base percentage (not more than 16%). See instructions ........................................................ 10
11 Base amount. Multiply line 9 by the percentage on line 10. Enter the result ................................................................................... 11
00
12 Subtract line 11 from line 8. If less than zero, enter zero ................................................................................................................. 12
00
13 Multiply line 8 by 50% (.50). Enter the result ................................................................................................................................... 13
00
14 Enter the lesser of line 12 or line 13 ................................................................................................................................................ 14
00
15 Add lines 3 and 14. Enter the total ................................................................................................................................................... 15
00
IF LINE 15 IS $2,500,000 OR LESS, COMPLETE LINE 16 AND SKIP LINES 17 THROUGH 19. IF LINE 15 IS MORE THAN $2,500,000, SKIP LINE 16
AND COMPLETE LINES 17 THROUGH 19.
16 Multiply line 15 by 20% (.20). Enter the result ................................................................................................................................ 16
00
17 Subtract $2,500,000 from line 15. Enter the result .......................................................................... 17
00
18 Multiply line 17 by 11% (.11). Enter the result .................................................................................. 18
00
19 Add $500,000 to line 18. Enter the result ....................................................................................................................................... 19
00
20 Enter the result from line 16 or 19 here. This is your current year’s credit ................................................................................ 20
00
Part II
S Corporation Credit Election and Shareholder’s Share of Credit
21 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 credit for increased research activities as shown on Part I, line 20 (for the taxable year mentioned above);
OR
Pass the credit for increased research activities as shown on Part I, line 20 (for the taxable year mentioned above) through to its shareholders.
Signature
Title
Date
If passing the credit through to the shareholders, complete lines 22 through 24 separately for each shareholder. Furnish each shareholder with a copy of the
completed Form 308.
22 Name of shareholder
23 Shareholder’s TIN
24 Shareholder’s share of the amount on Part I, line 20 .....................................................................................................................
24
00
ADOR 91-0055 (07)
DRAFT 082107
DRAFT 082107
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