Fillable Schedule Jt - Wisconsin Jobs Tax Credit

Schedule JT

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Who is Eligible to Claim the Credit

Special Instructions for Pass-Through Entities:

•

Tax-option (S) corporations, partnerships,

Individuals and corporations may claim the credit .

and LLCs treated as partnerships: Prorate the

jobs tax credit on line 5 among the shareholders,

Estates, trusts, partnerships, LLCs treated as

partners, or members . Show the credit for each

partnerships, and tax-option (S) corporations cannot

shareholder on Schedule 5K-1 and for each

claim the credit, but the credit amount attributable to

partner or LLC member on Schedule 3K-1 .

the entity’s business operations passes through to

the beneficiaries partners, members or shareholders.

No credit is allowed unless the claimant satisfies the

•

Fiduciaries: Complete lines 5a and 5b .

following requirements:

Line 5a: Fiduciaries - Prorate the credit from

• The claimant is certified by the WEDC.

line 5 between the entity and its beneficiaries in

proportion to the income allocable to each . Show the

• The claimant has received from the WEDC notice

beneficiaries’ portion of the credit on line 5a. Show

of eligibility to receive tax benefits that reports the

the credit for each beneficiary on Schedule 2K-1.

amount of tax benefit for which the claimant is

eligible .

Line 5b: Fiduciaries - Subtract line 5a from line 5 .

This is the estate or trusts portion of the credit . Enter

The credit is based on wages paid to an eligible

the amount of credit from line 5b on the appropriate

employee and costs incurred to undertake training

line of Schedule CR .

activities .

Required Attachments to Return

Credit is Income

You must include the following information with your

The credit you compute on Schedule JT is income

Wisconsin franchise or income tax return:

and must be reported on your Wisconsin franchise

or income tax return in the year computed .

• Schedule JT

Specific Line Instructions

• A copy of your certification to claim tax benefits

issued by WEDC .

Line 1: Enter the amount of wage tax benefits

• Notice of eligibility that reports the amount of tax

reported on the notice of eligibility received from

benefits from WEDC.

the WEDC .

Line 2: Enter the amount awarded by the WEDC for

Exception for shareholders, partners, members,

and beneficiaries: If the credit is received from

costs incurred to undertake training activities .

a tax-option (S) corporation, partnership, LLC

treated as a partnership, estate, or trust, file a copy

Line 4: Enter the amount of jobs tax credit

of Schedule 5K-1, 3K-1, or 2K-1 with Schedule JT

passed through from tax-option (S) corporations,

instead of the certification to claim tax benefits and

partnerships, LLCs treated as partnerships, estates,

notice of eligibility .

or trusts . The pass-through credit is shown on

Schedule 5K-1 for shareholders of tax-option (S)

Additional Information

corporations, Schedule 3K-1 for partners and LLC

members, and Schedule 2K-1 for beneficiaries of

For more information, you may:

estates or trusts .

Line 5: This is the total current year jobs tax credit .

• E-mail your question to

DORFranchise@revenue .wi .gov

• Enter the amount of credit from line 5 on the

• Call (608) 266-2772 [TTY: Call the Wisconsin

appropriate line of Schedule CR .

Telecommunications Relay System at 711]

If the claimant is a combined group member, enter

• Send a FAX to (608) 267-0834

the amount of credit on Form 6, Part III, line 13

• Write to the Audit Bureau, Wisconsin Department

instead of Schedule CR .

of Revenue, Mail Stop 5-144, PO Box 8906,

Madison WI 53708-8906 .

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Schedule Jt - Wisconsin Jobs Tax Credit - 2015 Page 2

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