Schedule Dmk-1 - Dairy Manufacturing Facility Investment Credit Allocation From Cooperatives - 2012
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1Dairy Manufacturing Facility Investment Credit
Schedule
DMK-1
Allocation from Cooperatives
2012
File with Wisconsin Schedule DM
Wisconsin Department
Read instructions before filling in this schedule
of Revenue
Part I Information About the Dairy Cooperative
Name of Cooperative
Address
ZIP (+ 4 digit suffix if known)
City
State
Identifying Number
Person to Contact Regarding This Schedule
Contact Person’s Telephone Number
Part II Information About the Member
Name of Member
Address
ZIP (+ 4 digit suffix if known)
City
State
Identifying Number
Part III Computation of Credit Allocated to Member
1 Fill in the ratio of the amount of milk this member delivered to the dairy cooperative during the
.
%
taxable year relative to all members of the cooperative. Enter the ratio as a percentage . . . . . . . . . . . 1
2 Enter the amount of credit computed by the cooperative on its 2012 Schedule DM, line 14 . . . . . . . . . 2
3 Multiply line 1 by line 2. This is the amount of dairy manufacturing facility investment credit allocated
from the cooperative. This is the member’s dairy cooperatives credit . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Instructions for 2012 Schedule DMK-1
The cooperative must also prepare a Schedule DMK-1 in
Purpose of Schedule DMK-1
duplicate for each member that delivered milk to the dairy
Dairy cooperatives may be awarded a dairy manufacturing facility
cooperative. The cooperative must provide each member with
Schedule DMK-1 prepared for them and must also file a copy of
investment credit as computed on Schedule DM. However, the
all Schedules DMK-1 along with its Wisconsin return (or its Form
dairy cooperative itself is not eligible for the credit. Instead, the
3).
cooperative may allocate the credit to its members in proportion
to the amount of milk that each member delivers to the dairy
Instructions for Members
cooperative.
The purpose of Schedule DMK-1 is for dairy cooperative to
New for 2012:
Members of a dairy cooperative who were
allocated a dairy cooperative credit for 2012 may first claim that
make that allocation and provide the necessary information to
credit on their 2013 return. The 2012 credit must be added to
its members.
income on the member’s 2013 return, instead of the 2012 return.
Instructions for Cooperative
If you were allocated a 2011 credit that you did NOT claim on your
2011 return, you may either (1) file an amended 2011 return to
The cooperative must file Schedule DM with its Wisconsin
claim the credit and include the computed credit in income, or (2)
return for the taxable year for which the credit was awarded.
claim the 2011 credit on your 2012 return and include the amount
If the cooperative is not otherwise required to file a Wisconsin
of the computed credit in income for 2012.
return, it must file Wisconsin Form 3, Wisconsin Partnership
Return, and indicate on line D of Form 3 that is being filed by a
Enter the amount from line 3 on 2013 Schedule DM, line 7b. If you
cooperative solely for purposes of computing and allocating the
receive Schedule DMK-1 from more than one cooperative, enter
the total line 3 amount from all Schedules DMK-1 on Schedule
dairy cooperatives credit. If this is the case, the cooperative is not
required to complete Schedule 3K or Schedules 3K-1.
DM, line 7b.
IC-060k-1
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