Schedule Ed - Wisconsin Economic Development Tax Credit - 2012
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1
2Schedule
ED
Wisconsin Economic Development Tax Credit
2012
File with Wisconsin Form 1, 1NPR, 2, 3, 4, 4T, 5 or 5S
Wisconsin Department
Read instructions before filling in this schedule
of Revenue
Name
Identifying Number
1
Enter amount of tax credits authorized by the Wisconsin Economic Development
Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
2
Enter economic development tax credit passed through from other entities . . . . . . . . . . . .
2
3
Add lines 1 and 2 . This is your 2012 economic development tax credit . . . . . . . . . . . . . . . .
3
3a Fiduciaries - Enter the amount of credit allocated to beneficiaries . . . . . . . . . . . . . . . . . . . .
3a
3b Fiduciaries - Subtract line 3a from line 3 .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3b
4
Carryover of unused economic development tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
Add lines 3 and 4 (lines 3b and 4 if fiduciary). This is the available economic development
5
tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
Instructions for 2012 Schedule ED
•
The claimant has received from the WEDC a
Purpose of Schedule ED
notice of eligibility to receive tax benefits that
Use Schedule ED to claim the economic development
reports the amount of tax benefit for which the
tax credit, which is available for taxpayers who are
claimant is eligible .
certified by the Wisconsin Economic Development
Corporation (WEDC). For information regarding
how to become certified, visit the WEDC web site at
Specific Line Instructions
inwisconsin .com or write to the WEDC, PO Box 1687,
Line 1: Enter the amount of tax benefits reported on
Madison, WI 53701-1687 .
the notice of eligibility received from the WEDC .
Line 2: Enter the amount of economic development tax
Who is Eligible to Claim the Credit
credit passed through from tax-option (S) corporations,
Any individual, estate, trust, partnership, limited
partnerships, LLCs treated as partnerships, estates, or
liability company (LLC), corporation, or tax-exempt
trusts . The pass-through credit is shown on Schedule
organization that is certified by the WEDC may be
5K-1 for shareholders of tax-option (S) corporations,
eligible for the credit .
Schedule 3K-1 for partners and LLC members, and
Schedule 2K-1 for beneficiaries of estates or trusts.
Partnerships, LLCs treated as partnerships, and
tax-option (S) corporations cannot claim the credits,
Line 3: For estates or trusts, tax-option (S)
but the credits attributable to the entity’s business
corporations, partnerships, and LLCs treated as
operations pass through to the partners, members,
partnerships, show the entire amount of credit on line
or shareholders .
3 and prorate that amount among the beneficiaries,
shareholders, partners, or members on Schedule
No credit is allowed unless the claimant satisfies the
2K-1, 5K-1, or 3K-1 .
following requirements:
Line 3a: Fiduciaries - Prorate the credit from line 3
•
The claimant is certified by the WEDC.
between the entity and its beneficiaries in proportion to
the income allocable to each. Show the beneficiaries’
portion of the credit on line 3a . Show the credit for
each beneficiary on Schedule 2K-1.
IC-074
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