Form Co-422 Draft - Calculation Of Economic Advancement Tax Incentive (Eati) Credits And Net Operating Loss Carry-Forwards (Nol C/fs) - 2006
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1*064191100*
VERMONT DEPARTMENT OF TAXES, Montpelier, Vermont 05609-1401 / (802) 828-5723
Calculation of Economic Advancement Tax
2006
Incentive (EATI) Credits and Net Operating
* 0 6 4 2 2 1 1 0 0 *
VERMONT
Loss Carry-Forwards (NOL C/Fs)
PRINT in BLUE or BLACK INK
Page
of
pages of this form submitted.
For the CALENDAR year 2006 or other taxable period beginning ________, 2006 and ending ________, 20____
Month
Month
Name of Principal Vermont Corporation
#
#
#
#
#
#
X
X
Vermont Business
Account Number
Enter all amounts in whole dollars.
SCHEDULE A
EATI CREDITS
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1.
Apportioned share of combined net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.
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2.
Allocable share of net business income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.
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3.
Allocated Vermont non-business income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.
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4.
Non-unitary Vermont business income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.
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5.
Net business income with any other unitary affiliate . . . . . . . . . . . . . . . . . . . . . . . . . 5.
6.
Subtotal net income this entity [If Line 6 is a negative, STOP. No EATI credit
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is available this year. Proceed to Schedule B (Line 11) below.] . . . . . . . . . . . . . . . . 6.
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7.
Vermont Tax per Tax Computation Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.
(Vermont Tax Computation Schedule, VT Form CO-411, Side 2)
8.
Vermont EATI Credit Earned (From VT Form CO-404, Part II,
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Column C, Line 21) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.
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9.
Multiply Line 7 by 80%. Enter the result here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.
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10. Enter the lesser of Line 8 or Line 9 here. Combine all VT Form CO-422, . . . . . . 10.
Line 10 calculations and transcribe to VT Form CO-411, Line 12.
SCHEDULE B
Net Operating Loss (NOL) Carry-Forwards (C/Fs)
11. Transcribe this entity’s loss from Line 6, above [If this loss includes any years
that the special (bonus) depreciation under IRC 186(k) was taken, the loss
must be recalculated as this special (bonus) depreciation is disallowed by
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Vermont for all years.] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
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12. Taxable Year Vermont Allowable NOL. Multiply Line 11 by 50% . . . . . . . . . . . . . . 12.
(This is the allowed net operating loss for this taxable year.) Combine the net
NOLs from all VT Form CO-422, Line 12 calculations and enter the net results on
VT Form CO-419, Line 8.
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13. Vermont NOL Carry-Forward. Subtract Line 12 from Line 11 above. . . . . . . . . . . 13.
(This is the Vermont Net Operating Loss carry-forward available for subsequent
taxable years. A Vermont NOL may be carry-forward for a maximum of 10 sequential years.)
Form CO-422
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