Form Sc Sch Tc-4sa - Accelerated Small Business Jobs Credit Page 11
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14Line 10 Line 9 minus line 4. This is the number of jobs under the 120% threshold.
Line 11 Allowable 50% credit. Multiply line 8 by Line 10.
STEP 3 Instructions (continued) – DETERMINING THE ALLOWABLE CREDIT
Total Allowable Credit
Line 12 Add lines 5 and 11. This is the total allowable credit claimed for the tax year.
Line 13 Your carryover credit from prior years. Unused credits may be carried forward for 15 years.
Line 14 Add lines 12 and 13. This is the total of credit claimed for the tax year and carried forward from prior years.
Line 15 Your current tax year tax liability. The amount of credit used in any year is limited to 50% of your tax liability before applying
any other credits.
Line 16 Multiply line 15 by 50% (0.50). See line 15 instructions.
Line 17 Enter the smaller of line 14 or line 16. Enter this amount on the appropriate tax credit Schedule.
Line 18 Line 14 minus line 17. This is the amount of your carryforward, subject to the rule that credits may be carried forward for 15
years.
Pass-through of credit to partners, S-corporation shareholders, and LLC members
Allocate credits earned by partnerships, S-corporations, or limited liability companies taxed as a partnership or S-corporation to the
partners, shareholders or members. The credit passed through is limited to 50% of the partner’s, shareholder's or member's income tax
liability.
EXAMPLE
The taxpayer in this 2011 Tax Year example is a calendar year corporation having a tax liability before application of any credits of
$30,000. It qualifies for no other income tax credits. The qualifying corporate office facility is located in Dillon County and began
operating in April of 2010. There is no additional credit amount as described in STEP 3 instructions.
STEP 1, PART B - COMPUTING THE NUMBER OF QUALIFYING JOBS
NUMBER OF FULL TIME EMPLOYEES IN EACH MONTH (Enter 0.5 for each part time job)
COUNTY
Dillon
YR
2010
YR
2011
YR
2012
YR
YR
YR
YR
PRIOR
YEAR
YEAR
YEAR
YEAR
YEAR
YEAR
3
YEAR
1
2
4
5
6
MONTH
January
8
1
February
8
2
March
7
3
April
9
7
4
9
7
May
5
June
9
7
6
July
8
7
7
8
7
August
8
September
8
7
9
October
8
6
10
November
8
6
11
December
8
6
12
7
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