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Arizona Form 308-I

partnerships (from Form 308, Part 5, line 38). Include a copy

Line 30 -

of Form 308 received from each S corporation or partnership

Enter the amount from Part 1, line 2 or Part 1, line 5. This is

with your return.

the maximum refundable credit.

If you checked the "Yes" box on line 3, complete Part 4 to

Line 31 -

calculate the amount of the current year's excess credit that is

Enter the lesser of line 29 or line 30. Complete Part 5 and Part 6 if

refundable to you.

you have carryovers from prior taxable years. Skip Part 7.

Complete Part 5 and/or Part 6 to compute the available

Enter the amount from line 31 on Form 140, line 57; or

carryover of the credit passed through by S corporations or

Form 140PY, line 69; or Form 140NR, line 64; or

partnerships from prior taxable years. You should complete

Form 140X, line 40. On the same line, be sure to check

Part 5 and/or Part 6 only if your allowable credit for

box 308-I indicating you are claiming a refundable credit for

increased research activities for prior taxable years exceeded

increased research activities.

your Arizona income tax liability for those taxable years, and

NOTE: If you complete Part 4 and are receiving a refund, do

you did not receive a refund of the credit for increased

not complete Part 7.

research activities for those taxable years. The carry forward

for tax years in which you received a refund of the credit for

Part 5 - Available Pre-2003 Credit Carryover

increased research activities is zero.

Use Part 5 to compute the carryover of the credit for increased

Part 4 - Refundable Portion of the Current

research activities from taxable years beginning January 1, 2001

Taxable Year's Excess Credit

through December 31, 2002. Since the credit for increased

research activities applies only to individuals for taxable years

Only complete this section if you checked the "Yes" box in

beginning after December 31, 2000, there is no available credit

Part 1, line 1 or Part 1, line 3, and elect to receive a refund of

carryover from taxable years beginning prior to January 1, 2001.

75% of your excess credit. The excess credit is the current

Compute the total available carryover of the credit for increased

taxable year's credit for increased research activities less the

research activities on Part 5, lines 32 through 34.

current taxable year's tax liability. Carryovers of the credit for

increased research activities from previous taxable years will

In column (b), enter the credit originally computed for

carry over for possible use in the next taxable year, provided

taxable year 2001 and 2002. In column (c), enter the amount

they do not expire this taxable year.

of the credit from taxable years 2001 and 2002 which has

already been used. Subtract the amount in column (c) from

NOTE: If you complete Part 4 and are receiving a refund, do

column (b) and enter the difference in column (d). Add the

not complete Part 7.

amounts entered on lines 32 and 33 in column (d). Enter the

Line 26 -

total on line 34, column (d). This is the total credit carryover

Enter the amount from Part 3, line 25.

available for years beginning before January 1, 2003.

Line 27a -

Part 6 - Available Post-2002 Credit Carryover

Enter the amount from Form 140, line 48; or Form 140PY,

Use Part 6 to compute the carryover of the credit for

line 61; or Form 140NR, line 58; or Form 140X, line 33.

increased research activities from taxable years beginning on

Line 27b -

or after January 1, 2003.

Enter the current year’s nonrefundable tax credits from

In column (b), enter the credit originally computed for taxable

Form 301, excluding the credit or carryovers for increased

years 2003 and subsequent years. In column (c), enter the

research activities.

amount that has already been used. Subtract the amount in

Line 27c -

column (c) from column (b) and enter the difference in

column (d). Add the amounts entered on lines 35 through 45

Subtract line 27b from line 27a. Enter the difference. If the

in column (d). Enter the total on line 46, column (d). This is

difference is zero or more, enter it on Part 8, line 51; also

the total credit carryover available for years beginning on or

enter it on Form 301, Part 1, line 5, column (a), and Form

after January 1, 2003.

301, Part 2, line 46. If the difference is less than zero, enter

zero. This is the current year’s credit for increased research

REMINDER: If you received a refund of the credit for

activities that will be used to offset the current taxable year's

increased research activities in 2010, 2011, 2012, or 2013, no

tax liability.

carryover is available in those years. In this case, enter zero

Line 28 -

in column (d) for those tax years.

Subtract the amount on line 27c from line 26. Enter the

Part 7 - Limitation of Credit Carryovers

difference. If the result is less than zero, enter zero, because

Use Part 7 to figure the limitations on use of credit carryovers.

no refund is available. This is the current year's excess credit.

Complete lines 47a through 50 if you claimed the credit on a

Line 29 -

prior year return and the credit was more than your tax.

Multiply the amount on line 28 by 75% (.75) and enter the

NOTE: If you completed Part 4 and are receiving a refund,

result. This is your tentative refundable credit.

do not complete Part 7.

Instructions For Arizona Form 308-I - Credit For Increased Research Activities - Individuals - 2014 Page 4

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