Schedule Wv/srdtc-1 - Strategic Research And Development Tax Credit/itemization Of Property Purchased For Strategic Research And Development Tax Credit
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1
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3SCHEDULE WV/SRDTC-1
WV/SRDTC-1
Org. 03/04
STRATEGIC RESEARCH AND DEVELOPMENT TAX CREDIT
NOTE: THIS SCHEDULE IS FOR QUALIFIED INVESTMENT ITEMS PLACED INTO SERVICE FOR PERIODS AFTER DECEMBER 31, 2002.
Business Name:
Identification Number:
Period
To
COMPUTATION OF ELIGIBLE INVESTMENT
(Column 1)
(Column 2)
(Column 3)
Net Cost
Allowable Cost
Eligible
Percentage
Investment
1.
Property with useful life of less than 4 years
$ _____________
33 1/3%
$ ________________
2.
Property with useful life of 4 years or more but
less than 6
$ _____________
66 2/3%
$ ________________
3.
Property with useful life of 6 years or more
$ _____________
100 %
$ ________________
4.
In-house research expenses
$ _____________
100 %
$ ________________
5.
Outside contract research expense
$ _____________
65 %
$ ________________
6.
Total eligible investment
$ ________________
I
f You Conducted Research and Development in West Virginia During Prior Years, go to Line 7a, Otherwise Skip to Line 9.
7a. Preceding Year R&D investment and expense ......................................................................................... $
7b. Second preceding Year R&D investment and expenses .......................................................................... $
7c. Third preceding Year R&D investment and expenses .............................................................................. $
8.
Total R&D Investment and Expenses-
Three Preceding Years (Add the amounts on Line 7a, Line 7b, and Line 7c) ................................... $
9.
Average R & D Investment and Expenses-
Three Preceding Years (Divide amount on Line 8 by 3, or enter $0 if you skipped Line 7 & 8) ...... $
10. Excess Total Eligible Investment (Line 6 amount less Line 9 amount [cannot be less than $0]) ......... $
11. Allowable Excess Total Eligible Investment (Multiply Line 10 amount by 10%) ....................................... $
12. Allowable Annual Total Eligible Investment (Multiply Line 6 amount by 3%) ............................................ $
13. Amount of Current Year Credit Allowed (Enter greater of Line 11 or Line 12) .......................................... $
14. Enter available unused credit from prior years ......................................................................................... $
15. Total Credit (Add Line 13 and Line 14) ....................................................................................................... $
16. Total Business Franchise Tax .................................................................................................................... $
17. Enter amount of Credit Claimed against Business Franchise Tax .......................................................... $
18. Total Corporation Net Income Tax .............................................................................................................. $
19. Enter amount of Credit Claimed against Corporation Net Income Tax ................................................... $
20. Total Qualified Personal Income Tax ......................................................................................................... $
21. Enter amount of Credit Claimed against Personal Income Tax ............................................................... $
22. Total Credit Claimed This Year (Sum of Line 17, Line 19 and Line 21) ................................................... $
23. Unused Credit (Subtract Line 22 from Line 15) ........................................................................................ $
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