Form Cit-3 - Corporate Child Care Credit - 2015 Page 2
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1
2New Mexico Taxation and Revenue Department
CIT-3
CIT-3 - Corporate-Supported Child Care Credit Claim Form
Rev. 03/27/2015
Schedule A - Other corporations sharing the cost of operating an eligible child care facility
If two or more corporations share the cost of operating a child care facility in New Mexico that is primarily used for the care of
dependents of employees of the corporations, during the employee's hours of employment, complete and attach Schedule A,
which identifies the other corporations sharing the cost of operating the child care facility. Each corporation shall be allowed
a credit in relation to the corporation's share of the cost of operating the child care facility.
Name
CRS-ID
FEIN
Share of net operating cost
a. _____________________________________
________________ ________________ __________________
b. _____________________________________
________________ ________________ __________________
c. _____________________________________
________________ ________________ __________________
d. _____________________________________
________________ ________________ __________________
Schedule B - Calculate available credit from carryforwards
To complete line 13 of the Form CIT-3, Corporate-Supported Child Care Credit Claim Form, attach a completed Schedule B
to compute unused credits for carryforward amounts from prior tax year claims.
(a) Tax year of previous claim. For each credit claimed in a previous tax year where there was an unused credit amount
available for carryforward, enter that tax year in which the credit was first claimed. Enter the last day of the tax year using
the format mm/dd/yyyy. For example, if the credit was claimed in the 2012 calendar year, enter 12/31/2012. For a fiscal-year
and short-year return ending on July 30, 2012, enter 07/30/2012. Do not make an entry for any credit claimed in a previous
tax year if the unused credit is no longer available for carryforward. Excess corporate-supported child care credit may only
be carried forward for three years following the tax year in which the expenditures were incurred.
(b) Available credit. For each year listed in column (a), enter the amount of credit available, based on the expenditures that
were incurred for that tax year, from Form CIT-3 submitted in that tax year.
(c) Total credit taken in previous tax years. For each credit amount listed in column (b), enter the total amount of credit
applied to corporate income tax liabilities on the respective tax year return, including any carryforward credit amounts from
previous years that were applied.
(d) Unused credit available for carryforward from prior claims. Subtract column (c) from column (b) and enter the dif-
ference.
Total unused credit available for carryforward. Enter the sum of all amounts in column (d). Also enter this amount on line
13 of Form CIT-3.
In any year for which you apply the child care credit to your corporate income tax liability, you must first apply approved credit
amounts calculated based on the current year expenditures, If the approved credit amount in the current tax year is less
than the corporate income tax liability for that year, you may then apply unused credit amounts available for carryforward,
always apply the oldest credit first.
(a) Tax year of previous
(d) Unused credit for carryforward
(b) Available credit
(c) Total credit taken in
claim
previous tax years
from prior claims [(b) - (c)]
Total unused credit available for carryforward. Enter the sum
of all amounts in column (d). Also enter this amount on line 13 of
Form CIT-3.
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