Form 580 Draft- Computer Industry Credit - State Of Oklahoma 2011

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State of Oklahoma
Computer Industry Credit
580
Tax Year_______
Revised 2011
For the year January 1 - December 31, or other taxable year beginning
,
ending
,
.
Name
Federal Employer Identification Number
Address
North American Industry Classification System
(NAICS) Code
City, State and Zip Code
General Information:
For taxable years beginning after December 31, 2005 and ending not later than December 31, 2013, there is allowed a
refundable credit equal to 15% of “qualified capital expenditures”, “qualified wages” or “qualified training expenses”
incurred by a qualified business enterprise whose principal activity is data processing services, computer systems de-
sign services or other computer related services. The total credits claimed during the fiscal year ending June 30, 2007,
fiscal year ending June 30, 2008, fiscal year ending June 30, 2009 or each of the applicable subsequent fiscal years
cannot exceed $350,000 each year.
Credit Computation
1.
Qualified Capital Expenditures ......................................................................................
Draft
2.
10/13/11
Qualified Wages ............................................................................................................
3.
Qualified Training Expenses ..........................................................................................
4.
Total Qualified Expenditures - add lines 1 - 3 ................................................................
(cannot exceed $2,333,333)
5.
Refundable Credit – multiply line 4 by 15% ...................................................................
(cannot exceed $350,000)
Filing Instructions and Due Date:
If the Computer Industry Credit is being filed with an income tax return, the credit must be claimed as a refundable
credit on the tax return. The income tax return claiming such credit must be filed no later than the original due date of
the tax return. An extension of time for filing an income tax return does not extend the time period for claiming the credit.
The credit should be claimed on the estimated tax line of the income tax return. Enclose Form 580 with the income tax
return.
If the Computer Industry Credit is not being filed with an income tax return, the Form 580 may be filed as a stand
alone form. The claim must be filed no later than the original due date of the income tax return. Claims filed during the
fiscal year ending June 30, 2007, shall not be filed earlier than July 1, 2006, and the claims for each subsequent taxable
year may be filed no earlier than July 1 of each of the applicable succeeding years. Mail Form 580 to the following
address:
Oklahoma Tax Commission
Compliance Division – Corporate
Post Office Box 269054
Oklahoma City, OK 73126-9054
Under penalties of perjury, I declare I have examined this return, including any accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
correct and complete. If prepared by person other than the taxpayer, this declaration is based on all information of which the preparer has any knowledge.
Signature of Officer
Date
Signature of Preparer
Date
Title
Preparer’s Address
Phone Number
Phone Number
See Page 2 for Instructions and Definitions

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