Instructions For Arizona Form 307 - Recycling Equipment Credit

Arizona Form

2014 Recycling Equipment Credit

307

Phone Numbers

Line-by-Line Instructions

Complete the name and social security number (SSN) section

For information or help, call one of the numbers listed:

at the top of the form. Indicate the period covered by the

Phoenix

(602) 255-3381

taxable year. Include the completed form with the tax return.

From area codes 520 and 928, toll-free

(800) 352-4090

All returns, statements, and other documents filed with the

Tax forms, instructions, and other tax information

department require a taxpayer identification number (TIN).

If you need tax forms, instructions, and other tax information,

The TIN for an individual is the taxpayer's SSN or an Internal

go to the department’s website at

Revenue Service (IRS) individual taxpayer identification

number (ITIN). Taxpayers that fail to include their

Income Tax Procedures and Rulings

identification number may be subject to a penalty.

These instructions may refer to the department’s income tax

procedures and rulings for more information. To view or

Available Credit Carryover

print these, go to our website and click on Legal Research

Lines 1 through 5

then click on Procedures or Rulings and select tax a type

Use lines 1 through 5 to figure your total available credit

from the drop down menu.

carryover from taxable years 1999 through 2002. Complete

Publications and Brochures

these lines if you claimed the credit on a tax return for taxable

To view or print the department’s publications and brochures,

years beginning before January 1, 2003, and your credit was

go to our website and click on Publications.

more than your tax.



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

General Instructions

that taxable year listed in column (a).



In column (c), enter the amount of the credit from that

The recycling equipment credit for an individual was

taxable year which you have already used.

repealed effective for taxable years beginning from and after



Subtract the amount in column (c) from column (b) and

December 31, 2002.

Individuals cannot claim any new

enter the difference in column (d).

credits. A partnership cannot generate and pass a new credit



In column (e), enter the amount of the carryover that is

through to its individual partners.

unallowable because the recycling equipment ceased to

be recycling equipment or the credit was transferred to

Individuals can continue to carry the credit forward, if the

another person.

credits were claimed in taxable years beginning prior to



Subtract the amount in column (e) from the amount in

January 1, 2003.

column (d) and enter the difference in column (f).

The portion of the unused credit carryovers relating to that



Add the amounts entered on lines 1 through 4 in column

recycling equipment is lost if either of the following apply.

(d). Enter the total on line 5, column (d).



If the recycling equipment ceases to be recycling

Enter the total from line 5, column (d), on Arizona Form 301,

equipment; or

Part 1, line 4, column (b).



Is transferred to another person.

The portion of the total available credit carryover that may be

claimed by the individual taxpayer is limited to the smaller of

the following amounts.



25% of the amount of tax entered on Arizona Form

301, Part 2, line 39; or



$5,000.

Instructions For Arizona Form 307 - Recycling Equipment Credit - 2014

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