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Arizona Form 308-I

Line 49 -

LIMITATION FOR CREDIT CARRYOVERS FROM TAXABLE YEARS

1, 2001

31, 2002.

BEGINNING

ANUARY

THROUGH DECEMBER

Subtract line 48d from line 47c and enter the difference.

There is an additional limitation on how much you can use of

Line 50 -

your available credit carryovers included in the amount from

Part 5, line 34, column (d). To calculate the limitation, you

Compare the amounts on Part 6, line 46, column (d), and on

must first compare the amount of your tax liability with

Part 7, line 49, and enter the lowest amount here. This is the

$500,000, and select the lower of those two numbers. Then,

amount of post-2002 carryover you may use to reduce your

subtract your current year’s credit for increased research

current year’s Arizona tax liability.

activities from the number you selected. Use your entire

Part 8 - Total Available Nonrefundable Credit

current year’s credit for increased research activities for this

Complete this section to compute the total available credit for

computation, even if you will not be able to claim that entire

the taxable year. The total available credit is the sum of the

amount on your current year’s tax return. If the result of your

current taxable year's credit for increased research activities

calculation is zero or less, you will not be able to use your

and the available credit carryover(s).

credit carryforward from taxable years beginning January 1,

2001 through December 31, 2002, to reduce your current

Line 51 -

year’s tax liability. However, you may still be able to use

If you completed Part 4 and are receiving a refund, enter the

your credit carryover from 2003 and later.

amount from Part 4, line 27c. Otherwise, enter the amount

IMITATION FOR CREDIT CARRYOVERS FROM TAXABLE YEARS

from Part 3, line 25. This is the current taxable year's credit

1, 2003. The amount of

BEGINNING ON OR AFTER

ANUARY

for increased research activities.

credit carryover from taxable years beginning on or after

Line 52 -

January 1, 2003, is only limited by the amount by which your

current year’s tax liability exceeds your current year’s credit

If you completed Part 4 and are receiving a refund, enter

for increased research activities.

zero. Otherwise, enter the amount from Part 7, line 48d. This

is the amount of the pre-2003 carryover that you may use to

Line 47a -

reduce your current year’s Arizona tax liability.

Enter your tax liability from Form 301, Part 2, line 39.

Line 53 -

Line 47b -

If you completed Part 4 and are receiving a refund, enter

Enter the current year's total credit from Part 3, line 25.

zero. Otherwise, enter the amount from Part 7, line 50. This is

the amount of the post-2002 carryover that you may use to

Line 47c -

reduce your current year’s Arizona tax liability.

Subtract line 47b from line 47a and enter the difference. If the

Line 54 -

difference is zero or less, enter zero.

Add the amounts on lines 51, 52, and 53. This is the total

Line 48a -

available credit for increased research activities that may be

Enter your available pre-2003 credit carryover from Part 5,

applied to your current taxable year's tax liability. Enter the

line 34, column (d).

total here and on Arizona Form 301, Part 1, line 5, column

Line 48b -

(c).

If the amount on line 47a is lower than $500,000, enter that

number on line 48a. If it is not, enter $500,000.

Line 48c -

Subtract line 47b from line 48b and enter the difference. If

the result is zero or less, enter zero.

Line 48d -

Compare the numbers on lines 48a and 48c, and enter the

lowest number here. This is the amount of pre-2003 carryover

you may use to reduce your current year’s Arizona tax liability.

Instructions For Arizona Form 308-I - Credit For Increased Research Activities - Individuals - 2014 Page 5

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