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Instructions For Form 351 - Arizona Credit For Renewable Energy Investment And Production For Self-Consumption By Manufacturers - 2014 Page 3

Arizona Form 351

Line 33 -

Part 6 – Available Credit Carryover

Enter the amount from Part 6, line 31. This is the total

NOTE: You should not have any credit carryover in tax year

available credit carryover for renewable energy investment

2014. Do not complete Part 6 for tax year 2014.

and production for self-consumption by manufacturers.

Use Part 6 to figure your total available credit carryover from

Line 34 -

prior taxable years. Complete lines 26 through 31, columns

(a) through (e), if you claimed the credit on a prior year’s

Add line 32 and line 33 and enter the total on line 34. This is

return and the credit exceeded your tax liability.

the total available credit that may be applied to the current

Enter the credit originally computed for that taxable year on

year's tax liability. The maximum credit allowed per taxpayer

line 26. Enter the amount of the credit from that taxable year

per year is $5 million.

which you have already used on line 27. Subtract the amount

Also enter the amount on line 34 as instructed below:

on line 27 from the amount on line 26 and enter the

Individuals - enter the total here on Form 301, Part 1, line 30,

difference on line 28. Enter the credit carryover that you no

column (a).

longer qualify for on line 29. Subtract the amount on line 29

from the amount on line 28 and enter the difference on line

Corporations, exempt organizations with UBTI, and

30. Add line 30, columns (a) through (e) and enter the total

S corporations - enter the total here on Form 300, Part 1, line

on line 31. Line 31 is the total credit carryover available for

23, column (a).

the current taxable year.

NOTE: The maximum credit allowed per taxpayer per

Part 7 – Total Available Credit

taxable year is $5 million.

Line 32 -

Line 32 is your total current year’s credit. It is the sum of the

current year’s credit that you established and also the pass-

through credit you received in current year.

Individuals, corporations (including S corporations that

elected to claim the credit), and exempt organizations with

UBTI - enter the amount from Part 1, line 8. This is the credit

you established in current year.

S corporation shareholders - enter the amount on Part 3,

line 14.

Partners of a partnership - enter the amount on Part 4, line

20.

Instructions For Form 351 - Arizona Credit For Renewable Energy Investment And Production For Self-Consumption By Manufacturers - 2014 Page 3

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