Form 2601450 - Schedule Cr - Credit Computation Schedule

2003

*VASCCR103888*

Schedule CR - Web

CREDIT COMPUTATION SCHEDULE - See Page 6 for required attachments.

Attach this to your return. See instructions for other required attachments.

Name(s) as shown on Virginia return

Social Security Number

PART I – MAXIMUM NONREFUNDABLE CREDITS

whole dollars only

Enter the total tax computed on your return less the total of Spouse Tax Adjustment, Credit for

Low Income Families and Credit for Tax Paid to Another State. The maximum nonrefundable

credits allowable on line 107 of Schedule CR may not exceed this amount. ........................... 1

PART II – ENTERPRISE ZONE ACT CREDIT

Credit allowable this year from Form 301 ( attach Form 301) .......................................... 2

PART III – NEIGHBORHOOD ASSISTANCE ACT CREDIT

Authorized amount of Neighborhood Assistance Act Credit ............. 3 ___________________

Carryover credit from prior year(s) [attach computation] .................. 4 ___________________

Add line 3 and line 4 ................................................................... 5 ___________________

Credit allowable this year: Line 5 or balance of maximum credit

available, whichever is less ........................................................................................... 6

Carryover credit for 2004: Line 5 less line 6 (applicable only if within

5 year carryover period) ............................................................... 7 ___________________

PART IV – RECYCLABLE MATERIALS PROCESSING EQUIPMENT CREDIT

Enter 10% of qualifying recyclable equipment cost ......................... 8 ___________________

Carryover credit from prior year(s) [attach computation] .................. 9 ___________________

1 0

Add line 8 and line 9 .................................................................. 1 0 ___________________

Enter 40% of tax per return .......................................................... 11 ___________________

1 2

Maximum recyclable materials processing equipment credit.

Line 10 or line 11, whichever is less ............................................ 1 2 ___________________

Credit allowable this year: Line 12 or balance of maximum credit

1 3

available, whichever is less ......................................................................................... 1 3

Carryover credit for 2004: Line 10 less line 13 (applicable only if

within 10 year carryover period) .................................................... 14 ___________________

PART V – CONSERVATION TILLAGE EQUIPMENT CREDIT

1 5

Enter 25% of qualifying property cost or $2,500, whichever is less .. 1 5 ___________________

1 6

Carryover credit from prior year(s) [attach computation] ................. 1 6 ___________________

1 7

Add line 15 and line 16 ............................................................... 1 7 ___________________

1 8

Credit allowable this year: Line 17 or balance of maximum credit

available, whichever is less ............................................................................................ 18

Carryover credit for 2004: Line 17 less line 18 (applicable only if

within 5 year carryover period) ..................................................... 19 ___________________

PART VI – FERTILIZER AND PESTICIDE APPLICATION EQUIPMENT CREDIT

2 0

Enter 25% of current qualifying equipment cost or $3,750,

whichever is less ...................................................................... 20 ___________________

2 1

Carryover credit from prior year(s) [attach computation] ................. 2 1 ___________________

2 2

Add line 20 and line 21 ............................................................... 2 2 ___________________

2 3

Credit allowable this year: Line 22 or balance of maximum credit

available, whichever is less ......................................................................................... 2 3

Carryover credit for 2004: Line 22 less line 23 (applicable only if

within 5 year carryover period) ..................................................... 2 4 ___________________

PART VII – RENT REDUCTION PROGRAM CREDIT

2 5

Enter 50% of qualifying rent reductions ........................................ 2 5 ___________________

2 6

Carryover credit from prior year(s) [attach computation] ................. 2 6 ___________________

2 7

Add line 25 and line 26 ............................................................... 2 7 ___________________

2 8

Credit allowable this year: Line 27 or balance of maximum credit

available, whichever is less ............................................................................................ 28

Carryover credit for 2004: line 27 less line 28 (applicable only if

within 5 year carryover period) ..................................................... 29 ___________________

2601450 Rev. 8/03

Form 2601450 - Schedule Cr - Credit Computation Schedule - 2003

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