Schedule 1299-C - Income Tax Subtractions And Credits (For Individuals) - 2003
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Illinois Department of Revenue
Income Tax Subtractions
2004
Schedule 1299-C
and Credits
(for individuals)
or fiscal year
Attach to your Form IL-1040, Individual Income Tax Return.
0
5
ending
/
–
–
Write your name as shown on Form IL-1040
Write your Social Security number
Read this information before completing this form:
What’s new for this year?
For tax years beginning on or after January 1, 2004, certain
To correctly complete your 2004 Schedule 1299-C, you must refer
businesses within the film industry may qualify for a Film Production
to your 2003 Schedule 1299-C, Step 5 to determine the amount of
Services Tax Credit. Contact the Illinois Department of Commerce
available credit carryforward that you may use on this 2004
Schedule 1299-C.
and Economic Opportunity (DCEO) for more information.
For tax years ending on or after December 31, 2004, the Research
For tax years beginning on or after Janary 1, 2004, and ending
before July 1, 2004, certain businesses may qualify for a
and Development Credit has been reinstated. However, you may
Transportation Employee Tax Credit. See the instructions for more
not use any credit, including any remaining credit carryforward, that
information.
you earned prior to January 1, 2004.
Step 1: Figure your subtractions
Enterprise Zone Dividend Subtraction
A
B
C
Corporation’s name
Name of zone
Dividend amount
1
a
a
b
b
c
c
2
2
Write any distributive share of enterprise zone subtractions from partnerships and S corporations.
3
3
Add Column C, Lines 1a through 1c and Line 2, and write the total here.
High Impact Business Dividend Subtraction (within a Foreign Trade Zone or sub-zone)
4 a
a
b
b
c
c
5
5
Write any distributive share of high impact business dividend subtractions from partnerships and S corporations.
6
6
Add Column C, Lines 4a through 4c and Line 5, and write the total here.
7
7
Add Lines 3 and 6. Write your total dividend subtraction here and on your Schedule M, Line 20.
Step 2: Figure your current year credits
Film Production Services Tax Credit
8
Write your Film Production Services Tax Credit, including any amount passed through from
partnerships and S corporations.
8
Transportation Employee Credit
x
9
$50 =
9
Write the number of qualified employees here (see instructions). ________________________
10
10
Write any distributive share of Transportation Employee credit from partnerships and S corporations.
11
11
Add Lines 9 and 10. Write your Transportation Employee Credit here.
12
12
Add Lines 8 and 11. This is your total current year credit. Write the total here and in Step 5, Line 45.
Step 3: Figure your credits
(which may be carried forward for two years)
TECH-PREP Youth Vocational Programs Credit
x
13
.20 =
13
Write direct payroll expenses and amount for personal services.
Dependent Care Assistance Program Credit
x
14
.05 =
14
Write the expenses for on-site dependent care.
15
15
Add Lines 13 and 14. Write this amount here and in Step 5, Line 61.
This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to
provide information could result in a penalty. This form has been approved by the Forms Management Center. IL-492-0094
Schedule 1299-C (R-12/04)
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