Form Dr 1366 - Enterprise Zone Credit And Carryforward Schedule - 2015
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DR 1366 (12/04/15)
COLORADO DEPARTMENT OF REVENUE
Denver, CO 80261-0005
2015 Enterprise Zone Credit and Carryforward Schedule
(See form on page 2)
General Instructions
credits are being utilized, attach a supplemental spreadsheet.
Complete the year 20YY and the dollar amount of the
Use this form to calculate enterprise zone credits earned in the
carryforward/carryback for each year.
current tax year and to report any carryforward amounts from
previous years (or any applicable carry back amounts). Any
Follow the instructions to calculate the credit amount(s) that
taxpayer who claims an enterprise zone credit is statutorily
will be used to offset your tax liability. Only use current
required to file their returns electronically (§39-30-111, C.R.S.)
year credit generated once all carryforward credit has been
and most software products and tax preparers have the ability
exhausted.
to meet this requirement. Revenue Online can also be used
Composite filings: Complete form DR 1366 to reflect the
to file your return and attachments electronically. If you are
aggregate credits for the composite members.
unable to file electronically, attach this DR 1366 schedule and
Pass-through entities: Form DR 1366 must be completed
any supporting documentation to your paper return.
for the pass-through entity to calculate the credits available
Be certain to submit copies of certification forms or emails
for pass-through. Use form DR 0078A to report any enterprise
generated from the EZ Tax Credit online system with
zone credits that are being distributed to investors/owners.
your tax return. Read FYI publications Income 10, 11,
Furthermore, each recipient of pass-through credits shall
22, 23, 24, 31 and 36 to learn specific information about
complete form DR 1366 to claim their portion of the credit
the enterprise zone program and the limitations imposed
that is identified in form DR 0078A.
upon the credits. Additional information is available at
Impor tant information regarding the refundable
investment tax credit for renewable energy investments:
Follow the instructions and use the example below to report
The $750,000 cap is applicable at the partnership or pass-
unused enterprise zone credit(s) from a previous year or to
through entity level. The combination of credits claimed
list an applicable carryback. List only the carryforward or
and used by investors/owners and any composite members
carryback amount, not the full credit amount generated for
cannot exceed $750,000 for a tax year.
that year. If more than 5 years of carryforward/carryback
Example: Reporting carryforward credit
In 2010 you generated $1,000 of investment tax credit but you were unable to use $500 and are carrying that forward.
In 2011 you generated $1,000 and in 2014 you generated $3,500. You have a $4,000 tax liability this year to apply your
carryforward credits against. Enter the amount you are carrying forward for each year in row a) for each credit. Enter the
amount of credit you are using against your current tax liability in row b), beginning with the oldest credits first. Finally, enter
the difference between the amount you have to carry forward and the amount you use in row c). This will be the amount
you have remaining to carry forward next year. For the Investment Tax Credit, carryback credit may be reported the same
way. Enter the year the credit was generated, how much is being used for current liability, and the difference which can be
carried to another tax year.
The Investment Tax Credit carryforward is available for 12 years (3 year carryback)
2010
2011
2014
20
20
Year Credit Generated
Total
a). Amount of carryforward
Available
$500
$1,000
$3,500
$
$
$5,000
b). Amount of Credit Used
Against Line 11
$500
$1,000
$2,500
$
$
$4,000
c). Difference between row a.
and b. (carryforward to next
year
$0
$0
$1,000
$
$
$1,000
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