Form 67 - Credit For Idaho Research Activities - 2014 Page 5
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5Form 67 - Page 3
EFO00037p5
06-05-14
of gross receipts attributable to Idaho. Don't include returns and
Line 4. If this year is the 6th or later tax year after 1993 in which you
had qualified research expenses for research conducted in Idaho,
allowances. If one or more of the four preceding tax years is a short
tax year, the Idaho gross receipts for the short year are annualized.
use Column C of the table on page 3 and enter the percent for the
applicable year. For example, if this is the 8th tax year, enter 50%.
A taxpayer who hasn't been transacting business in Idaho prior to the
credit year is considered to have average annual gross receipts for
Line 5. If this year is one of the 1st through 5th tax years after 1993
in which you had qualified research expenses for research conducted
the four preceding tax years equal to zero.
in Idaho, enter 3%. For all other years, multiply line 3 by line 4.
Round the percentage to four digits to the right of the decimal point.
Line 2. Divide the amount on line 1e by 4.
For example .06666 is rounded to .0667 and should be entered as
6.67%. The percentage can’t exceed 16%. Enter the percentage
If the taxpayer has been transacting business in Idaho for at least one
here and on page 1, line 9.
but less than four previous tax years, the taxpayer’s average annual
gross receipts for the four preceding tax years is equal to its annual
average gross receipts for the number of years that the taxpayer has
PART C
been transacting business in Idaho. Divide line 1e by the applicable
Lines 1a through 1d. For each of the 1st through 4th tax years prior
to this tax year, enter the Idaho gross receipts for each applicable
number of tax years.
year. Use the multistate apportionment rules to determine the amount
Enter the amount here and on page 1, line 10.
Tax years beginning after 1993 for
which you have Idaho qualified
Calculation
research expenses
Use 3% for these years -- Enter 3% on Form 67, Page 2, Part B, line 5.
First 5 tax years
A
B
C
Aggregate Qualified Research
Aggregate Idaho Gross Receipts
Enter the % on
Expenses for Research Conducted
Form 67, Page 2,
in Idaho for:
Part B, line 4
16.67%
6th tax year
the 4th and 5th such tax years
33.33%
7th tax year
the 5th and 6th such tax years
the 5th, 6th, and 7th such tax years
50%
Enter the aggregate Idaho gross
8th tax year
receipts for the same tax years as
66.67%
indicated in Column A
9th tax year
the 5th through 8th such tax years
83.33%
10th tax year
the 5th through 9th such tax years
100%
tax years beginning after the 10th tax
any 5 of the 5th through 10th such
year
tax years
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