Arizona Form 120a Instruction - Arizona Corporation Income Tax Return (Short Form) - 2011 Page 4
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11Arizona Form 120A
environmental technology manufacturing, producing, or
Arizona Taxable Income Computation
processing facility as described in ARS § 41-1514.02.
Line 1 - Taxable Income per Federal Return
Complete Form 305 to claim this tax credit.
Enter taxable income as reported on the federal income tax
Military Reuse Zone Credit. This tax credit is for net
return filed with the Internal Revenue Service.
increases in employment of full-time employees working
in a military reuse zone established under Arizona law.
Line 2 - Additions to Taxable Income
Complete Form 306 to claim this tax credit.
Enter total adjustments from page 2, Schedule A, line A11.
Credit for Increased Research Activities. This tax
See instructions for Schedule A.
credit is for taxpayers who incur qualified research
Line 4 - Subtractions From Taxable Income
expenses for research conducted in Arizona. The credit
applies to taxable years beginning from and after
Enter total adjustments from page 2, Schedule B, line B12.
December 31, 2000. A portion of the excess credit
See instructions for Schedule B.
claimed for taxable years beginning from and after
Line 5 - Adjusted Income
December 31, 2009, may be refundable with approval
from the Arizona Commerce Authority (formerly the
Subtract line 4 from line 3 and enter the difference.
Arizona Department of Commerce). Be sure to include
Line 6 - Arizona Basis Net Operating Loss Carryforward
only the nonrefundable portion on line 12. Complete Form
If the corporation incurred net operating losses in prior taxable
308 to claim this tax credit.
years, the corporation can apply these losses against current
Pollution Control Credit. This tax credit is for
Arizona income. A net operating loss carryforward applies to the
expenses incurred during the taxable year to purchase
next five succeeding taxable years, subject to certain adjustments
real or personal property used in the taxpayer's trade or
and rules. This amount should not exceed the amount on line 5.
business in Arizona to control or prevent pollution.
Attach a separate schedule showing the computation of the net
Complete Form 315 to claim this tax credit.
operating loss carried forward.
Credit for Taxes Paid for Coal Consumed in
Arizona Tax Liability Computation
Generating Electrical Power. This tax credit is for a
percentage of the amount paid by the seller or purchaser
Line 8 - Arizona Tax
as transaction privilege tax or use tax for coal sold to
Multiply the Arizona taxable income (page 1, line 7) by 6.968
the taxpayer that is consumed in the generation of
percent. If the computed amount of tax is less than $50, enter
electrical power in Arizona. "Amount paid by the seller
the minimum tax of $50. Every corporation required to file a
or purchaser as transaction privilege tax or use tax"
return shall pay a $50 minimum tax in accordance with
means that the Arizona transaction privilege tax was
A.R.S. § 43-1111.
passed through to the taxpayer by the seller as an added
Line 9 - Tax From Recapture of Tax Credits
charge or that the seller collected the Arizona use tax
from the taxpayer or that the taxpayer paid the Arizona
Enter the amount of tax due from recapture of the
use tax to the department. Complete Form 318 to claim
environmental technology facility and healthy forest
this tax credit.
enterprises tax credits from Form 300, Part II, line 26.
Credit for Solar Hot Water Heater Plumbing Stub
Line 10 - Subtotal
Outs and Electric Vehicle Recharge Outlets. This tax
Add lines 8 and 9. This is the amount of tax to which the
credit is for the installation of solar hot water heater
Clean Elections Fund tax reduction and the total amount of
plumbing stub outs and electric vehicle recharge outlets
tax credits claimed by the taxpayer may be applied.
in houses or dwelling units constructed by the taxpayer.
Line 11 - Clean Elections Fund Tax Reduction
The houses or dwelling units must be located in
Check box
to send five dollars to the Clean Elections Fund
11A
Arizona. Complete Form 319 to claim this tax credit.
and reduce the tax amount on line 10 by five dollars. Enter the
Credit for Employment of TANF Recipients. This tax
amount of the tax reduction (five dollars) on line 11.
credit is for net increases in qualified employment of
Line 12 - Nonrefundable Tax Credits
Arizona resident recipients of the federal Temporary
Assistance for Needy Families. Complete Form 320 to
Enter the allowable nonrefundable tax credit amount from
claim this tax credit.
Form 300, Part II, line 51. This amount cannot be larger than
Agricultural Pollution Control Equipment Credit.
the amount on line 10 less the amount on line 11.
This tax credit is for expenses incurred during the
Defense Contracting Credits. Taxpayers may claim
taxable year to purchase tangible personal property that
carryovers of unused tax credits from taxable years
is primarily used in the taxpayer’s business in Arizona
2006 and prior. Any carryover not used in tax year 2011
to control or prevent agricultural pollution. Complete
will expire. Complete Form 302 to claim the carryover
Form 325 to claim this tax credit.
of these tax credits.
Credit for Donation of School Site. This tax credit is for
Enterprise Zone Credit. Taxpayers located in an
the donation of real property and improvements to an
enterprise zone prior to June 30, 2011, may qualify to
Arizona school district or Arizona charter school for use
claim a credit for net increases in qualified employment
as a school or as a site for the construction of a school.
positions. Complete Form 304 to claim this tax credit.
Complete Form 331 to claim this tax credit.
Environmental Technology Facility Credit. This tax
credit is for costs incurred in constructing a qualified
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