Fillable Schedule Wc - Water Consumption Credit

2 of 2

2013 Schedule WC

Page

Specific Line Instructions

•

If the claimant is a combined group member,

enter the amount of credit on Form 4M instead

Line 1: Enter the amount of water usage costs for

of Schedule CR .

the taxable year beginning in 2013 .

•

Tax-option (S) corporations, partnerships, and

Line 2: Enter the amount of water usage costs for

LLCs treated as partnerships should prorate

the amount of credit on line 8 among the

the taxable year beginning in 2009 .

shareholders, partners, or members based on

Line 3: Subtract the amount on line 2 from the

their ownership interest . Show the credit for

each shareholder on Schedule 5K-1 and for each

amount on line 1 and enter the result on line 3 .

partner or member on Schedule 3K-1 .

However, if the amount on line 2 is more than the

amount on line 1, enter -0- and do not complete the

rest of the form . You do not qualify for the credit .

Required Attachments to Return

Line 4: Multiply the amount on line 3 by 0 .50 (50%) .

Enter the result on line 4 .

File your completed Schedule WC with your Wisconsin

franchise or income tax return . Shareholders of tax-

Line 5: Enter the amount of water consumption credit

option (S) corporations, partners of partnerships,

passed through from tax-option (S) corporations,

members of LLCs treated as partnerships, and

beneficiaries of estates or trusts must file a copy of

partnerships, LLCs treated as partnerships, estates

or trusts . The pass-through credit is shown on

Schedule 5K-1, 3K-1, or 2K-1, as appropriate, with

Schedule 5K-1 for shareholders of tax-option (S)

Schedule WC .

corporations, Schedule 3K-1 for partners and LLC

members, and Schedule 2K-1 for beneficiaries of

estates or trusts .

Additional Information

Line 7: The maximum amount of credit that may be

For more information, you may:

claimed in a taxable year is $300,000.

•

E-mail your question to

corp@revenue .wi .gov

Line 8: Enter the smaller of the amount on line 6 or

•

Call (608) 266-2772 [TTY: Call the Wisconsin

line 7 . This is your 2013 water consumption credit .

Telecommunications Relay System at 711 . If no

Fiduciaries must complete lines 8a and 8b .

answer, dial 1-800-947-3529] .

Line 8a: Fiduciaries - Prorate the credit from

•

Send a FAX to (608) 267-0834

line 8 between the entity and its beneficiaries in

•

Write to the Audit Bureau, Wisconsin Department

proportion to the income allocable to each . Show the

of Revenue, Mail Stop 5-144, PO Box 8906,

beneficiaries’ portion of the credit on line 8a. Show

the credit for each beneficiary on Schedule 2K-1.

Madison WI 53708-8906 .

Line 8b: Fiduciaries - Show only the entity’s portion

of the credit on line 8b .

Line 9: Enter any unused water consumption credit

carried over from prior years .

Line 10: Add lines 8 and 9 (lines 8b and 9 if fiduciary)

but not more than $300,000.

Enter the amount of credit from line 10 on the

appropriate line of Schedule CR . See the following

exceptions:

Schedule Wc - Water Consumption Credit - 2013 Page 2

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