Fillable Schedule Jt - Wisconsin Jobs Tax Credit

Schedule JT

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Who is Eligible to Claim the Credit

Special Instructions for Pass-Through Entities:

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Tax-option (S) corporations, partnerships,

Individuals and corporations may claim the credit .

and LLCs treated as partnerships: Prorate the

jobs tax credit on line 5 among the shareholders,

Estates, trusts, partnerships, LLCs treated as

partners, or members . Show the credit for each

partnerships, and tax-option (S) corporations cannot

shareholder on Schedule 5K-1 and for each

claim the credit, but the credit amount attributable to

partner or LLC member on Schedule 3K-1 .

the entity’s business operations passes through to

the beneficiaries partners, members or shareholders.

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No credit is allowed unless the claimant satisfies the

Fiduciaries: Complete lines 5a and 5b .

following requirements:

Line 5a: Fiduciaries - Prorate the credit from

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The claimant is certified by the WEDC.

line 5 between the entity and its beneficiaries in

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The claimant has received from the WEDC notice

proportion to the income allocable to each . Show the

beneficiaries’ portion of the credit on line 5a. Show

of eligibility to receive tax benefits that reports

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

the amount of tax benefit for which the claimant

is eligible .

Line 5b: Fiduciaries - Subtract line 5a from line 5 .

This is the estate or trusts portion of the credit . Enter

The credit is based on wages paid to an eligible

the amount of credit from line 5b on the appropriate

employee and costs incurred to undertake training

line of Schedule CR .

activities .

Required Attachments to Return

Credit is Income

File your completed Schedule JT with your Wisconsin

The credit you compute on Schedule JT is income

franchise or income tax return . Also include a copy of

and must be reported on your Wisconsin franchise

your certification to claim tax benefits and the notice

or income tax return in the year computed .

of eligibility that reports the amount of tax benefits

that you obtain from the WEDC . Shareholders of

Specific Line Instructions

tax-option (S) corporations, partners of partnerships,

members of LLCs treated as partnerships, and

beneficiaries of estates or trusts must file a copy of

Line 1: Enter the amount of wage tax benefits

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

reported on the notice of eligibility received from

Schedule JT instead of the certification to claim tax

the WEDC .

benefits and notice of eligibility.

Line 2: Enter the amount awarded by the WEDC for

costs incurred to undertake training activities .

Additional Information

Line 4: Enter the amount of jobs tax credit

For more information, you may:

passed through from tax-option (S) corporations,

partnerships, LLCs treated as partnerships, estates,

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E-mail your question to

corp@revenue .wi .gov

or trusts . The pass-through credit is shown on

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

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

corporations, Schedule 3K-1 for partners and LLC

members, and Schedule 2K-1 for beneficiaries of

Telecommunications Relay System at 711]

estates or trusts .

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Send a FAX to (608) 267-0834

Line 5: This is the total current year jobs tax credit .

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Write to the Audit Bureau, Wisconsin Department

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Enter the amount of credit from line 5 on the

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

Madison WI 53708-8906 .

appropriate line of Schedule CR .

If the claimant is a combined group member,

enter the amount of credit on Form 4M instead of

Schedule CR .

Schedule Jt - Wisconsin Jobs Tax Credit - 2013 Page 2

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