Form Rev 41 0056 - Small Business B&o Tax Credit Worksheet (Page 2 of 2) in pdf

Form Rev 41 0056 - Small Business B&o Tax Credit Worksheet Page 2

SMALL BUSINESS B&O TAX CREDIT WORKSHEET

Use this worksheet to help you determine which B&O Credit Table to use

and to calculate your Small Business B&O Tax Credit (SBC).

Step 1: Add together the amount of B&O taxable amounts (column 3) reported under:

Service and Other Activities

Gambling Contests of Chance

For Profit Hospitals; Scientific R&D

Total

Step 2: Add all B&O taxable amounts reported

Step 3: Divide Step 1 by Step 2

Step 4: Determine which SBC table to use:

Use Table 1, if Step 3 is less than 0.5 (less than 50%)

Use Table 2, if Step 3 is greater than or equal to 0.5 (50% or more)

Step 5: Determine the total B&O tax due

(add total tax due of all B&O classifications on your tax return.)

Step 6: Add together the credit amounts taken for:

Multiple Activities Tax Credit (MATC)

International Service Credit

Customized Employment Training Credit $

Hospital Patient Handling B&O Credit

High Technology Credit

Other B&O Credits

Total

Step 7: Subtract Step 6 from Step 5. This net B&O tax due amount

is used to determine your SBC

Step 8: Using the table determined in Step 4, calculate your SBC based on your net B&O tax due determined in

Step 7.

Step 9: Write the amount of your SBC under the Credits section of your return (page 2) on the Small Business

B&O Credit line.

REV 41 0056 (10-31-11)

Page 2

Form Rev 41 0056 - Small Business B&o Tax Credit Worksheet Page 2