Form N-318 - High Technology Business Investment Tax Credit - 2014 Page 4
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FORM N-318
(REV. 2014)
PART III. RECAPTURE OF HIGH TECHNOLOGY BUSI-
QHTBs, attach a schedule to Form N-318. If you made investments in the
same QHTB in different years, report each year’s investment in a separate
NESS INVESTMENT TAX CREDIT
column (if more than three years, attach a schedule to Form N-318). Also,
Line 8.—Enter the total amount of recapture of the credit reported on all
if the tax year includes periods both before and after May 1, 2009, use
separate columns for investments received by the QHTB before May 1,
Schedule K-1s issued to the taxpayer.
2009 and those received on or after May 1, 2009.
Line 2.—Enter the amount of the investment for each QHTB (see General
CREDIT WORKSHEET
Instructions for the definition of “Investment”).
Tax Credit
Amount
Line 3.—Enter the rate applicable to the tax year in which the investment
was made. For applicable rates, refer to the Rate Table as follows:
a. Income Taxes Paid to Another
State or Foreign Country .......
b.
Enterprise Zone Tax Credit ....
Rate Table
Applicable rate for investments made in
c.
Carryover of the Energy
tax year 2010
Conservation Tax Credit .........
Year of investment
*Tax Year 2010:
d. Credit for Employment of
35% Up to max of $700,000 per QHTB
Vocational Rehabilitation
First year following year of
*Tax Year 2011:
Referrals ................................
investment
25% Up to max of $500,000 per QHTB
e.
Carryover of the Individual
Second year following year of
*Tax Year 2012:
Development Account
investment
20% Up to max of $400,000 per QHTB
Contribution Tax Credit ..........
Third year following year of
*Tax Year 2013:
f.
Credit for School Repair and
investment
10% Up to max of $200,000 per QHTB
Maintenance ..........................
Fourth year following year of
Tax Year 2014:
investment
10% Up to max of $200,000 per QHTB
g. Carryover of the Renewable
Energy Technologies Income
* The twelve-month period to claim the credit (including claims on amend-
Tax Credit (For Systems
ed returns) has expired for the indicated tax years.
Installed and Placed In Service
Line 5.—Partnerships.—First, multiply the number of partners in the
Before July 1, 2009) ...............
partnership by $2,000,000. Next, multiply the first result by the percentage
h. Renewable Energy Technologies
entered on line 3. Compare the second result with the amount on line 4
Income Tax Credit (Nonrefundable)
and enter the lesser amount on line 5.
i.
Low-Income Housing Tax Credit
Line 7.—Enter the total amount of credit reported on all Schedule K-1s is-
sued to the taxpayer for the indicated investments.
j.
Add lines a through i. Enter
the amount here and on
Line 11.—The law requires that ALL other credits, except for the technol-
Part II, line 11 .........................
ogy infrastructure renovation tax credit, offset a taxpayer’s tax liability
BEFORE allowing a credit for investment in a QHTB. Complete the Credit
Worksheet on this page and enter the result on line 11.
FORM N-318
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