Form Sc Sch.tc 11-R - Recapture Of Economic Impact Zone Property Investment Credit

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STATE OF SOUTH CAROLINA
1350
1350
SC SCH.TC 11-R
DEPARTMENT OF REVENUE
RECAPTURE OF ECONOMIC IMPACT ZONE
(Rev. 7/20/07)
3349
PROPERTY INVESTMENT CREDIT
20
Attach this form to your return.
Name as Shown on Tax Return
Social Security or Employer ID Number
Properties
A
B
C
D
E
15-year
3-year
5-year
7-year
10-year
or greater
1. Date property was placed in service
2. Date of disposal or removal from zone
3. Cost or other basis
2%
4%
5%
4. Applicable percentage
1%
3%
5. Amount of credit claimed (line 4 times line 3) *
6. Number of full months between the date on
line 1 and the date on line 2
7. Recapture percentage (from worksheet below)
8. Tentative recapture tax (line 7 times line 5)
9. Total Recapture tax (add line 8 of columns A
through E). Increase your income tax by this amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Note: On the dotted line next to the tax line write "Includes recapture tax - Sch. TC-11-R".
Recapture Percentage Worksheet
Total Months for Each Class Life
3 Year
5 Year
7 Year
10 Year
15 Year or greater
Property
36
60
84
120
180
Months
1. Class life of property subject to recapture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. Total months from above table . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. Number of months from line 6 Form TC-11-R . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4. Subtract line 3 from line 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5. Recapture Percentage - Divide line 4 by line 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
33491028

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