Form 112cr - Colorado Corporation Credit Schedule - 2011

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Form 112CR (12/01/11)
FORM 112CR
COLORADO CORPORATION CREDIT SCHEDULE
2011
Attach this form to your completed income tax return Form 112 if filing on paper.
Taxpayer’s name
Colorado Account Number
Most credits entered on this form are nonrefundable. Calculate and enter the total credit available in Column (a). Enter
in Column (b) only the amount of the credit to be applied against this year’s tax liability. Any difference in the amounts
in Columns (a) and (b) for a given line that will be carried forward to 2012 must be entered on line 75.
Column (a)
Column (b)
1. Tax liability from line 17, Form 112 ............................................................................................................ 1
A. THE NEW INVESTMENT TAX CREDIT
2. $1,000 minus amount on line 56a.............................................................................................................. 2
3. Current year qualified investment .............................................................................................................. 3
4. One % of the amount on line 3 .................................................................................................................. 4
5. New investment tax credit carried over from prior year ............................................................................. 5
6. Enter in Column (a) the total of lines 4 and 5. Enter in Column (b) the lesser of the amount
in Column (a) or the amount on line 2. 6a ............................................................................................... 6a
6b
B. ENTERPRISE ZONE INVESTMENT TAX CREDIT
7. Smaller of amount on line 1 above, or $5,000 ........................................................................................... 7
8. 50% of the amount on line 1 above in excess of $5,000 ........................................................................... 8
9. Total of lines 7 and 8 .................................................................................................................................. 9
10. Old investment tax credit, if any, from line 57b ........................................................................................ 10
11. Line 9 minus line 10 ................................................................................................................................. 11
12. Qualifying current year investment .......................................................................................................... 12
13. 3% of amount on line 12 .......................................................................................................................... 13
14. Enterprise zone investment tax credit carried over from prior year ......................................................... 14
15. Enter in Column (a) the total of lines 13 and 14. Enter in Column (b) the lesser of the amount in
Column (a), the amount on line 11, or $500,000. ................................................................................... 15a
15b
16. Commercial vehicle investment credit. Enter in Column (a) the total 2011 credit. Enter in Column (b)
the lesser of the amount in Column (a), the amount on line 11 minus the amount on line 15b, or
$500,000 minus line 15b........................................................................................................................ 16a
16b
C. ENTERPRISE ZONE NEW BUSINESS FACILITY EMPLOYEE CREDITS
17. Monthly average of qualified new business facility employees...................................................................... 17
18. Number of employees for which credit has previously been claimed ............................................................ 18
19. Increase in qualified employees, line 17 minus line 18.................................................................................. 19
20. Number of employees on line 19 multiplied by $500 ............................................................................... 20
21. Number of employees on line 19 in an enhanced rural enterprise zone multiplied by $2,000 ................ 21
22. Number of agricultural processing employees on line 19 multiplied by $500 .......................................... 22
23. Number of agricultural processing employees on line 19 in an enhanced rural enterprise zone multiplied by $500 .... 23
24. Employee credit carried over from prior year........................................................................................... 24
25. Number of health insurance qualified employees ______ multiplied by $200 ........................................... 25
26. Enter in Column (a) the total of lines 20 through 25. Enter in Column (b) the amount from
Column (a) which is being used to offset 2011 tax. ............................................................................... 26a
26b
D. CONTRIBUTION TO ENTERPRISE ZONE ADMINISTRATOR CREDIT
27. Current year cash contributions ............................................................................................................... 27
28. Value of current year in-kind contributions ............................................................................................... 28
29. Total of lines 27 and 28 ............................................................................................................................ 29
30. The smaller of $100,000 or 25% of line 29 .............................................................................................. 30
31. Limitation on in–kind credit, 50% of line 30 ............................................................................................. 31
32. Allowable in–kind credit, the smaller of lines 28 or 31 ............................................................................. 32
33. Limitation on cash credit, line 30 minus line 32 ....................................................................................... 33
34. Allowable cash credit, the smaller of lines 27 or 33 ................................................................................. 34
35. Enter either the total of lines 32 and 34 or $100,000, whichever is less.................................................. 35
36. Contribution credit carried over from prior year ....................................................................................... 36
37. Enter in Column (a) the total of lines 35 and 36. Enter in Column (b) the amount from Column (a)
which is being used to offset 2011 tax ................................................................................................... 37a
37b

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