Arizona Form 308 Draft - Credit For Increased Research Activities - 2008 Page 3

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AZ Form 308 (2008)
Page 3 of 3
Part VI Limitation of Pre-2003 Credit Carryover
If you have credit carryovers from tax years 2002 and before, complete this section. If you do not, skip this section and go directly to Part VII.
The amount of credit carryover from years 2002 and before that you can use is limited. Complete this schedule to determine how much of this
carryover you can use to offset this year’s tax liability.
45a Enter current year’s tax liability from Form 300, line 25 ..............................................................
45a
00
45b Compare line 45a with $500,000. Enter the lesser amount .......................................................
45b
00
45c Current year’s credit. Corporations or S corporations - enter amount from Part I, line 20.
Corporate partners of a partnership - enter amount from Part III, line 27 ...................................
45c
00
45d Subtract line 45c from line 45b. If the result is zero or less, enter zero. This is the
amount of this year’s tax liability to which you may apply your pre-2003 carryovers .................
45d
00
45e Enter the total of your pre-2003 credit carryovers from Part IV, line 38, column (d) ...................
45e
00
45f Compare lines 45d and 45e and enter the lesser amount here. This is the amount of pre-2003 credit carryovers
you can use to offset this year’s tax liability. .................................................................................................................................
45f
00
Part VII Limitation of Post-2002 Credit Carryover
If you have credit carryovers from tax years 2003 and after, complete this section. If you do not, skip this section and go directly to Part VIII.
The amount of credit carryover from years 2003 and after that you can use is limited. Complete this schedule to determine how much of this
carryover you may be able to use to offset this year’s tax liability.
46a Enter current year’s tax liability from Form 300, line 25 ..............................................................
46a
00
46b Current year’s credit. Corporations or S corporations - enter amount from Part I, line 20.
Corporate partners of a partnership - enter amount from Part III, line 27 ...................................
46b
00
46c Subtract line 46b from line 46a. If the result is zero or less, enter zero. This is the
amount of this year’s tax liability to which you may apply your post-2002 carryovers ................
46c
00
46d Enter the total of your post-2002 credit carryovers from Part V, line 44, column (d) ..................
46d
00
46e Compare lines 46c and 46d and enter the lesser amount here. This is the amount of post-2002 credit carryovers
you can use to offset this year’s tax liability. .................................................................................................................................
46e
00
Part VIII Total Available Credit
47 Current year’s credit. Corporations or S corporations - enter amount from Part I, line 20.
Corporate partners of a partnership - enter amount from Part III, line 27 ........................................................................................
47
00
48 Pre-2003 credit carryover - from Part VI, line 45f ............................................................................................................................
48
00
49 Post-2002 credit carryover - from Part VII, line 46e .........................................................................................................................
49
00
50 Total available credit. Add lines 47, 48, and 49. Enter the result here and on Form 300, Part I, line 5 .......................................
50
00
NOTE: The amount of the credit carryover you may claim on your tax return may be further reduced if you claim other nonrefundable tax credits.
See Form 300 for details.
ADOR 91-0055 (08)
DRAFT 8/19/08
DRAFT 8/19/08

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