Arizona Form 305 - Environmental Technology Facility Credit - 2014 Page 2
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1
2
3Name (as shown on page 1)
TIN
Part 3
S Corporation Credit Election and Shareholder’s Share of Credit
and Credit Recapture
M M D D Y Y Y Y
The S corporation has made an irrevocable election for the taxable year ending
to
9
(check only one box):
Claim the environmental technology facility credit, as shown on Part 1, line 3, column (b)
(for the taxable year mentioned above);
OR
Pass the environmental technology facility credit, as shown on Part 1, line 3, column (b)
(for the taxable year mentioned above) through to its shareholders.
Signature
Title
Date
If passing the credit through to the shareholders, complete lines 10 through 12 separately for each shareholder. If passing credit
recapture through to the shareholders, also complete line 13 separately for each shareholder. Furnish each shareholder with a copy of
pages 1, 2 and 3 of Form 305.
Name of shareholder:
10
Shareholder’s TIN:
11
00
Shareholder’s share of the current year’s credit from Part 1, line 3, column (b)................................
12
12
00
Shareholder’s share of credit recapture from Part 2, line 8 ...............................................................
13
13
Part 4
Partner’s Share of Credit and Credit Recapture
Complete lines 14 through 16 separately for each partner. If passing credit recapture through to the partners, also complete line 17
separately for each partner. Furnish each partner with a copy of pages 1, 2 and 3 of Form 305.
Name of partner:
14
Partner’s TIN:
15
00
Partner’s share of the current year’s credit from Part 1, line 3, column (b) .......................................
16
16
00
Partner’s share of credit recapture from Part 2, line 8 .......................................................................
17
17
Credit Recapture Summary
Part 5
Enter the taxable year(s) in which you took a credit or credit carryover for the facility that has
18
ceased to operate as an environmental manufacturing, producing or processing facility:
00
Enter the total amount of credit originally claimed for the facility .......................................................
19
19
Enter the total amount of the credit to be recaptured.
20
• Individuals, corporations, exempt organizations with UBTI, and S corporations:
Enter the amount from Part 2, line 8.
• S corporation shareholders: Enter the amount from Part 3, line 13.
00
• Partners of a partnership: Enter the amount from Part 4, line 17 ..................................................
20
Subtract line 20 from line 19 and enter the difference. This is the amount of credit allowable for
21
the facility that has ceased to operate as an environmental manufacturing, producing or
00
processing facility ..............................................................................................................................
21
00
Amount of credit on line 19 that you have claimed on prior years’ returns ........................................
22
22
00
Subtract line 22 from line 21 and enter the difference .......................................................................
23
23
• If the difference is a positive number, that is the amount of credit carryover remaining that you
may use in future taxable years. Enter this positive number in Part 6, column (d), on the line for
the year in which the disqualified credit arose.
• If the difference is a negative number, that is the amount of credit you must recapture. If a negative
number, enter “zero” in Part 6, column (d), on the line for the year in which the disqualified credit
arose.
◦
Corporations, exempt organizations with UBTI, and S corporations also enter this amount as a
positive number on Form 300, Part 2, line 26.
◦
Individuals, also enter this amount as a positive number on Form 301, Part 2, line 33.
Continued on page 3
ADOR 10132 (14)
Page 2 of 3
AZ Form 305 (2014)
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