Arizona Form 311 - Correctional Industries Tax Credit And Recapture Tax

Arizona Form 311 - Correctional Industries Tax Credit And Recapture Tax - 1999

1999

Correctional Industries

ARIZONA FORM

311

Tax Credit and Recapture Tax

For taxable year beginning ______/______/______ , and ending ______/______/______ .

Attach to your return

Name as shown on Form 120, 120A, 120S or 120X

Federal employer ID number

Part I Correctional Industries Tax Credit

1 Investment in qualified property $

x 50% (.50) =

2 Compensation paid to inmates $

x 25% (.25) =

3 Add lines 1 and 2

100,000 00

4 Maximum credit $100,000

5 Total available credit. Enter the lesser of line 3 or line 4 here and on Form 300, Part I, line 7

NO CARRYOVER OF THIS CREDIT IS ALLOWED

Part II Correctional Industries Recapture Tax

6 Year original correctional industries tax credit claimed

7 Month and year the property was converted

8 Total credit amount - see instructions

9 Recapture percent - see instructions

10 Recapture tax - multiply the amount on line 8 by the percent on line 9.

Enter the result here and on Form 300, Part II, line 48

ADOR 06-0075 (99)

Arizona Form 311 - Correctional Industries Tax Credit And Recapture Tax - 1999