Arizona Form 141az - Arizona Fiduciary Income Tax Return - 2011 Page 6
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12Arizona Form 141AZ
federal law
E. Certain Expenses Not Allowed For Federal
Purposes
NOTE: This applies only to those retirement plans
The estate or trust may subtract some expenses that it cannot
authorized and enacted into the U.S. Code. This does not
deduct on its federal return when the estate or trust claims
apply to a retirement plan that is only regulated by federal
certain federal tax credits. These federal tax credits are
law (i.e., plans that must meet certain federal criteria to be
•
qualified plans).
The federal work opportunity credit
•
•
The empowerment zone employment credit
The Arizona State Retirement System
•
•
The credit for employer-paid social security taxes on
The Arizona State Retirement Plan
employee cash tips
•
The Corrections Officer Retirement Plan
•
The Indian employment credit
•
The Public Safety Personnel Retirement Plan
If the estate or trust claimed any of these federal tax credits for
•
The Elected Officials' Retirement Plan
2011, enter the portion of wages or salaries it paid or incurred
•
A retirement plan established for employees of a county,
during the taxable year equal to the amount of those federal tax
city, or town in Arizona
credits it received.
•
An optional retirement program established by the
A nonresident estate or trust should enter the amount of wages
Arizona Board of Regents under Arizona Revised Statutes
or salaries that it paid or incurred during the taxable year that
•
An optional retirement program established by an
is related to the income sourced to Arizona. The subtraction is
Arizona community college district
equal to the amount of the federal credits it received.
F. Employer Contributions Made to Employee
NOTE: Public retirement pensions from states other than
Medical Savings Accounts
Arizona do not qualify for this subtraction.
If the estate or trust is an employer, it may subtract the amount
This subtraction does not apply to nonresident estates or trusts.
contributed to its employees' medical savings accounts that are
B. Annuity Income, First Payment Received Prior to
established under Arizona law. The amount the estate or trust can
December 31, 1978
subtract is equal to the amount that was not deductible on its
Arizona allows an estate or trust to subtract the amount of
federal return. The amount it can subtract is equal the amount that
annuity income included in the estate’s or trust’s federal
.
is included in its Arizona gross income
income pursuant to I.R.C. § 72. This subtraction is allowed
G.
Agricultural
Crops
Given
to
Charitable
only if the first payment from the annuity was received
Organizations
before December 31, 1978.
Arizona allows a subtraction for qualified crop gifts made during
This subtraction does not apply to nonresident estates or
2011 to one or more charitable organizations. To take this
trusts.
subtraction, all of the following must apply:
C. Qualified Wood Stove, Wood Fireplace, or Gas
•
The estate or trust must be engaged in the business of
Fired Fireplace
farming or processing agricultural crops.
Arizona allows a subtraction for converting an existing fireplace
•
The crop must be grown in Arizona.
to one of the following.
•
•
The gift must be made to a charitable organization located in
a qualified wood stove.
•
Arizona.
a qualified wood fireplace, or
•
•
a gas fired fireplace and non-optional equipment
The charitable organization must be exempt from Arizona
directly related to its operation.
income tax.
You may subtract up to $500 for converting an existing
The subtraction is the greater of 80% of the wholesale
fireplace on property located in Arizona to a qualified wood
market price or 80% of the most recent sale price for the
stove, qualified wood fireplace, or gas fired fireplace.
crop given. To determine if the estate’s or trust’s crop gift
D. Claim of Right Adjustment for Amounts Repaid
qualifies for this subtraction, see Arizona Department of
in Prior Taxable Years
Revenue Procedure, ITP 93-2.
You must make an entry here if all of the following apply:
1.
During a year prior to 2011, the estate or trust was
required to repay amounts held under a claim of right.
2.
The estate or trust computed its tax for that prior year
under Arizona's claim of right provisions.
3.
A net operating loss or capital loss was established due
to the repayment made in the prior year.
4.
The estate or trust is entitled to take that net operating
loss or capital loss carryover into account when
computing its 2011 Arizona taxable income.
5.
The amount of the loss carryover allowed to be taken
into account for Arizona purposes is more than the
amount included in your federal income.
Enter the amount by which the loss carryover allowed for the
taxable year under Arizona law is more than the amount included
in your federal income.
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