Arizona Form 308 - Credit For Increased Research Activities - 2014 Page 2

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Name (as shown on page 1)

EIN

Part 4

S Corporation Credit Election and Shareholder’s Share of Credit

M M D D Y Y Y Y

The S corporation has made an irrevocable election for the taxable year ending

(check only one box):



Claim the credit for increased research activities as shown on Part 3, line 29 (for the taxable year mentioned above);



Pass the credit for increased research activities as shown on Part 3, line 29 (for the taxable year mentioned above)

through to its shareholders.

Signature

Title

Date

If passing the credit through to the shareholders, complete lines 31 through 33 separately for each shareholder. Also complete line 34 and line 35

separately for each shareholder, if applicable. Provide a copy of the Certificate to each shareholder. Furnish each shareholder with a copy of pages 1

through 4 of Form 308.

Name of shareholder:

Shareholder’s TIN:

Shareholder’s share of the amount on Part 3, line 29 .................................................................................................... 33

Shareholder’s share of the amount on Part 1, line 2 ...................................................................................................... 34

Shareholder’s share of the amount on Part 1, line 5 ...................................................................................................... 35

Part 5

Partner’s Share of Credit

Complete lines 36 through 38 separately for each partner. Also complete line 39 and line 40 separately for each partner, if applicable. Provide a copy of

the Certificate to each partner. Furnish each partner with a copy of pages 1 through 4 of Form 308.

Name of partner:

Partner’s TIN:

Partner’s share of the amount on Part 3, line 29 ............................................................................................................ 38

Partner’s share of the amount on Part 1, line 2 .............................................................................................................. 39

Partner’s share of the amount on Part 1, line 5 .............................................................................................................. 40

Refundable Portion of the Current Taxable Year’s Excess Credit

Part 6

Only complete Part 6 if the “Yes” box on Part 1, line 1 or Part 1, line 3 is checked.

Current taxable year’s credit:

• Corporations, exempt organizations with UBTI, or S corporations: Enter the amount from Part 3, line 29.

• Exempt organizations with UBTI that are S corporation shareholders: Enter the amount from Part 4, line 33.

• Corporate partners of a partnership or exempt organizations with UBTI that are partners of a partnership:

Enter the amount from Part 5, line 38 .......................................................................................................................... 41

42a Enter the current year’s tax, including recapture, from Form 99T, line 8; or Form 120,

line 18; or Form 120A, line 10; or Form 120S, line 14; or Form 120X, line 18(c) ............ 42a

42b Nonrefundable tax credits: Enter the amount of nonrefundable tax credits from

Form 300. Exclude the credit or carryover for increased research activities .................. 42b

42c Current taxable year’s credit for increased research activities that will be used to offset the current taxable year’s tax

liability: Subtract line 42b from line 42a and enter the difference. If the difference is zero or more, enter it on

Part 11, line 66; also enter it on Form 300, Part 1, line 4, column (a), and Form 300, Part 2, line 36. If less than zero,

enter zero ........................................................................................................................................................................ 42c

Current taxable year’s excess credit: Subtract line 42c from line 41 and enter the difference. If less than zero,

enter zero, because no refund is available ...................................................................................................................... 43

Tentative refundable credit: Multiply line 43 by 75% (.75). Enter the result ................................................................... 44

Maximum refundable credit: See instructions................................................................................................................. 45

Refundable Credit: Enter the lesser of line 44 or line 45. Also enter this amount on Form 99T, line 12; or Form 120,

line 22; or Form 120A, line 14; or Form 120S, line 18; or Form 120X, line 22 ................................................................ 46

Complete Part 7 and Part 8 if you have carryovers from prior years. Skip Part 9 and Part 10.

ADOR 10135 (14)

AZ Form 308 (2014)

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