Arizona Form 302 Draft - Defense Contracting Credits

Name:

TIN:

AZ Form 302 (2007)

Page 2 of 2

Part V

S Corporation Credit Election and Shareholder’s Share of Credit

19 The S corporation has made an irrevocable election for the taxable year ending ______/______/________ to:

YYYY

(CHECK ONLY ONE BOX)

Claim the defense contracting credits as shown on Part III, line 13, column (d) and Part IV, line 18 (for the taxable year mentioned above);

Pass the defense contracting credits as shown on Part III, line 13, column (d) and Part IV, line 18 through to its shareholders (for taxable

year mentioned above).

Signature

Title

Date

If passing the credit through to the shareholders, complete lines 20 through 23 separately for each shareholder.

Furnish each shareholder with a copy of the completed Form 302.

20 Name of shareholder

21 Shareholder’s TIN

22 Shareholder’s share of the amount on Part III, line 13, column (d) ................................................................................................

23 Shareholder’s share of the amount on Part IV, line 18 ...................................................................................................................

Part VI Partner’s Share of Credit

Complete lines 24 through 27 separately for each partner. Furnish each partner with a copy of the completed Form 302.

24 Name of partner

25 Partner’s TIN

26 Partner’s share of the amount on Part III, line 13, column (d) ........................................................................................................

27 Partner’s share of the amount on Part IV, line 18 ...........................................................................................................................

Part VII Available Credit Carryover (See instructions)

(a)

(b)

(c)

Original credit

Amount

Available carryover - subtract column (b)

amount

previously used

from column (a)

Part VIII Total Available Credit

29 Current year’s credit for qualiﬁ ed employment positions. Individuals, corporations, or

S corporations - enter amount from Part III, line 13, column (d). S corporation shareholders - enter

amount from Part V, line 22. Partners of a partnership - enter amount from Part VI, line 26 ............

30 Current year’s credit for property taxes paid on class one property. Individuals, corporations, or

S corporations - enter amount from Part IV, line 18. S corporation shareholders - enter

amount from Part V, line 23. Partners of a partnership - enter amount from Part VI, line 27 ............

31 Available credit carryover - enter amount from Part VII, line 28, column (c) .....................................

32 Total available credit - add lines 29, 30, and 31. Enter total here and on Form 300, Part I, line 1 or Form 301, Part I, line 1 .........

ADOR 91-0049 (07)

DRAFT 082107

Arizona Form 302 Draft - Defense Contracting Credits - 2007 Page 2

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