Arizona Form 308-I - Credit For Increased Research Activities - Individuals - 2015 Page 3

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Name (as shown on page 1)

SSN

Part 7

Limitation of Credit Carryovers

If you completed Part 4 and are receiving a refund, do not complete Part 7.

LIMITATION OF PRE-2003 CREDIT CARRYOVER: You may not be able to use all of your available pre-2003 credit carryovers from Part 5 to offset this

year’s tax liability. Complete Part 7 to determine which credit carryovers you may claim. Also complete Part 7 to figure the total of all of your available

credit carryovers (amounts from Part 5, line 34, column (d), and Part 6, line 47, column (d)) that you may claim this year.

48a Current year’s liability: Enter the amount from Form 301, Part 2, line 41 ...................................................................

48a

48b Current year’s total credit: Enter the amount from Part 3, line 25 ..............................................................................

48b

48c Subtract line 48b from line 48a. If the difference is zero or less, enter zero ...............................................................

48c

49a Available pre-2003 credit carryover: Enter the amount from Part 5, line 34,

column (d).......................................................................................................................

49a

49b Enter the lesser of line 48a or $500,000.........................................................................

49b

49c Subtract line 48b from line 49b. If the difference is zero or less, enter zero ..................

49c

49d Enter the lesser of line 49a or line 49c. This is the amount of pre-2003 carryover that you may use ........................

49d

Subtract line 49d from line 48c ....................................................................................................................................

Enter the lesser of Part 6, line 47, column (d) or Part 7, line 50. This is the amount of post-2002 carryover that

you may use ................................................................................................................................................................

Part 8

Total Available Nonrefundable Credit

Current year’s credit: If you completed Part 4 and are receiving a refund, enter the amount from Part 4, line 27c.

Otherwise, enter the amount from Part 3, line 25.

• Also enter this amount on Form 301, line 5, column (a) ..........................................................................................

If you completed Part 4 and are receiving a refund, enter zero. Otherwise, enter the pre-2003 carryover from

Part 7, line 49d ............................................................................................................................................................

If you completed Part 4 and are receiving a refund, enter zero. Otherwise, enter the post-2002 carryover from

Part 7, line 51.

• Also enter the sum of lines 53 and 54 (total carryover) on Form 301, line 5, column (b) .........................................

Total available credit: Add lines 52, 53, and 54.

• Also enter this amount on Form 301, Part 1, line 5, column (c) ...............................................................................

AZ Form 308-I (2015)

ADOR 10570 (15)

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