Form Ri-3468 - Investment Tax Credit - 2012
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1
2State of Rhode Island and Providence Plantations
RI-3468
2012
DEPARTMENT OF REVENUE
Division of Taxation
INVESTMENT TAX CREDIT
RIGL § 44-31
NAME
IDENTIFICATION NUMBER AS
U.S. BUSINESS CODE NUMBER
SHOWN ON PG1 OF TAX RETURN
ADDRESS
CITY
STATE
ZIP CODE
Check if company is a high
performance manufacturer
10% Investment Tax Credit Calculation - Attach DLT 10% ITC Certification Letter
Date Placed
Description of Property
Date Acquired
Life
Cost
% Qualifying
Basis for Credit
in Service
Credit Amount for 10% Investment Tax Credit . . .
(You must attach current year 10% ITC Certification Letter from the Department of Labor and Training) . . .
Unused 10% Investment Tax Credit from Prior Year(s) -
Attach schedule showing Year Generated, Amount Generated, Amount(s) Used and Year(s) Used . . .
A.
Total 10% Investment Tax Credit Available . . .
4% Investment Tax Credit Calculation
Date Placed
Description of Property
Date Acquired
Life
Cost
% Qualifying
Basis for Credit
in Service
Credit Amount for 4% Investment Tax Credit . . .
Unused 4% Investment Tax Credit from Prior Year(s) -
Attach schedule showing Year Generated, Amount Generated, Amount(s) Used and Year(s) Used . . .
B.
Total 4% Investment Tax Credit Available . . .
ITC Calculation -
Note: This worksheet does not take into account other Rhode Island Credits. Refer to each credit law for proper usage order of credits.
1.
Enter Tax Amount from Form RI-1120C, line 13...................................................................................................................................
2.
Enter Minimum Tax Amount (RI-1120C - enter $500.00)......................................................................................................................
3.
Maximum ITC Amount. Subtract line 2 from line 1............................................................................................................................
4.
Enter 4% credit amount from line B above...........................................................................................................................................
4% ITC Credit Used. If line 4 is less than or equal to line 3, enter the amount from line 4 here. If line 4 is more than line 3,
5.
enter the amount from line 3 here.........................................................................................................................................................
6.
Tax Balance after 4% ITC credit usage. Subtract line 5 from line 3.................................................................................................
Multiply line 6 times 50% (0.5000) and enter here. 10% ITC is limited to half the tax amount. However, if the entity is a high
7.
performance manufacturer, enter amount from line 6. The half tax limitation does not apply to high performance manufacturers...
8.
10% ITC Credit Used. Enter the lesser of line 7 or the 10% ITC amount from line A........................................................................
9.
2012 ITC Credit. Add lines 5 and 8. Enter here and on Form RI-1120C, Schedule D, line 14A.......................................................
10. 4% ITC carryforward amount. Subtract line 5 from line B.................................................................................................................
11. 10% ITC carryforward amount. Subtract line 8 from line A...............................................................................................................
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