Form 305 - List Of Qualifying Clean Fuel Vehicle Jobs And Employees

Form 305

1999

CLEAN FUEL VEHICLE JOB CREATION TAX CREDIT

VA D

EPARTMENT OF

AXATION

For calendar year 1999. If FISCAL YEAR filer, enter beginning date ________, ______ and ending date _________, ______ and check here.

EDERAL

MPLOYER

DENTIFICATION

UMBER

AME OF

OMPANY

IRGINIA

CCOUNT

The clean fuel vehicle job creation tax credit (Section 58.1-439.1, Code of Virginia), provides a corporation income tax credit

for the creation of full-time clean fuel vehicle jobs. The allowable credit is $700 per qualifying job created for the first taxable

year and the two succeeding taxable years, for a maximum ?per job” credit of $2,100. Unused credits may be carried forward

for up to five years. C

ORPORATIONS CLAIMING THIS CREDIT BASED ON QUALIFYING JOBS CANNOT ALSO CLAIM THE MAJOR BUSINESS

304. In the case of a partnership or limited liability company, the credit will be

FACILITY JOB TAX CREDIT

COMPUTED ON

ORM

allocated to the corporate partners or corporate members in proportion to their ownership or interest in the partnership or

limited liability company; the credit is not distributed to individuals, estates or trusts.

PART I - CREDIT QUALIFICATION

Qualification based on business type:

Primary business in Virginia: SIC ________. Check the applicable box below.

“ A. Manufacture of components for vehicles designed to operate on clean special fuel

“ B. Manufacture of components used to convert vehicles designed to be operated on gasoline or diesel fuel, or on

clean special fuel

“ C. Manufacture of vehicles designed to operate on clean special fuel

“ D. Conversion of vehicles designed to operate on gasoline or diesel fuel to operate on clean special fuel

The primary work activity for each qualifying job is related directly to at least one or more of the following:

“ A. Manufacture of major components of the energy storage, energy supply or engine, motor, and power train

mechanisms unique to a vehicle fueled by clean special fuels; or

“ B. Manufacture of components uniquely used to convert vehicles designed to operate on gasoline or diesel fuel

to operate on clean special fuel; or

“ C. Conversion of vehicles designed to operate on gasoline or diesel fuel to operate on clean special fuel; or

“ D. Manufacture of vehicles designed to operate on clean special fuel.

For each job that the credit is claimed, ALL of the following must apply:

“ A. the job was created by the corporation during the taxable year that the credit is

claimed or was continued from the previous taxable year that the credit was claimed;

“ B. the qualifying job must have been filled by an individual working at least

forty hours per week during at least forty weeks during the taxable year; and

“ C. employment level in qualifying jobs in the taxable year that the credit is

first claimed increased over the previous taxable year.

This credit is claimed for clean fuel vehicle jobs created in the city/county of ______________________, Virginia.

PART II - CREDIT COMPUTATION

Number of qualifying jobs: Complete Schedule A (Form 305), then enter the number of

qualifying jobs from Schedule A, Part II (See instructions.).

5a. Number of first time qualifying jobs for the current taxable year . . . . . . . . . . . . . . . . . . . . . . . . 5a. _______________

5b. Number of qualified jobs continued from the first preceeding year . . . . . . . . . . . . . . . . . . . . . . 5b. _______________

5c. Number of qualified jobs continued from the second preceeding year . . . . . . . . . . . . . . . . . . . 5c.________________

Clean fuel vehicle job creation tax credit: Multiply the total of lines 5a, 5b and 5c by $700. . . . . . . 6. ________________

If claiming a credit distribution received from a pass-through entity, enter the

credit amount (See instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7. _______________

Carryover credit from prior year(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. _______________

Total credit accumulated this year: Add amounts on lines 6, 7 and 8 . . . . . . . . . . . . . . . . . . . . . . . . . 9. _______________

10. Total tax on tax return after priority credits (See instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10. _______________

11. Clean fuel vehicle job creation tax credit allowable this year: Enter the lesser of the amount

on line 9 or line 10 here and on the applicable credit line of your Virginia income tax return . . . . . . 11. _______________

PART III - CARRYOVER OF CLEAN FUEL VEHICLE JOB CREATION TAX CREDIT

12. Excess credit carryover to 2000: If line 9 is larger than line 10, subtract line 10 from line 9.

(This information will be used when computing the credit on your 2000 income tax return.) . . . . 12. _________________

Form 305 - List Of Qualifying Clean Fuel Vehicle Jobs And Employees - 1999

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