F
F
55
IDAHO CREDIT FOR QUALIFYING
IDAHO CREDIT FOR QUALIFYING
2015
O
O
R
R
M
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NEW EMPLOYEES
NEW EMPLOYEES
EFO00034
10-07-15
Name(s) as shown on return
Name(s) as shown on return
Social Security number or EIN
PART I. CREDIT AVAILABLE SUBJECT TO LIMITATION
1. Carryover of credit for qualifying new employees from prior year ...................................................................
1
2. Elimination of carryover due to a reduction in the employment level from the level that existed when
the credit carryover was earned........................................................................................................................
2
3. Credit distributed to shareholders, partners, or beneficiaries. If line 2 is greater than line 1,
enter as a negative ...........................................................................................................................................
3
4. Total credit available subject to limitation. Add lines 2 and 3 and subtract from line 1.
Carry to Part II, line 14a ....................................................................................................................................
4
PART II. CREDIT LIMITATIONS
1. Idaho income tax from the appropriate tax return .............................................................................................
1
2. Credit for income tax paid to other states .........................................................................................................
2
3. Subtract line 2 from line 1 .................................................................................................................................
3
a. Multiply line 3 by 50% .................................................................................................................................. 3a
4. Qualifying contributions to Idaho educational entities ..............................................
4
a. Enter 50% of the qualifying contributions on line 4............................................. 4a
b. Corporations: Enter the smaller of $5,000 or 10% of the tax on line 1.
Taxpayers other than corporations: Enter the smaller of $500 ($1,000 if
filing a joint return) or 50% of the tax on line 1 .................................................. 4b
5. Credit for contributions to Idaho educational entities.
Enter the smallest amount from lines 3a, 4a, or 4b ..........................................................................................
5
6. a. Investment tax credit available from Form 49, Part I, line 8 ............................... 6a
b. Subtract line 5 from line 3 ................................................................................... 6b
c. Subtract line 5 from line 3a ................................................................................. 6c
7. Investment tax credit allowed. Enter the smallest amount from lines 6a, 6b, or 6c .....................................
7
8. Qualifying contributions to Idaho youth and rehabilitation facilities .........................
8
a. Enter 50% of the qualifying contributions on line 8............................................. 8a
b. Corporations: Enter the smaller of $500 or 10% of the tax on line 1.
Taxpayers other than corporations: Enter the smaller of $100 ($200 if
filing a joint return) or 20% of the tax on line 1 ................................................... 8b
c. Subtract line 7 from line 6b ................................................................................. 8c
d. Subtract line 7 from line 6c ................................................................................. 8d
9. Credit for contributions to Idaho youth and rehabilitation facilities allowed.
Enter the smallest amount from lines 8a, 8b, 8c, or 8d ....................................................................................
9
10. Qualifying cost of equipment manufacturing a product from postconsumer
or postindustrial waste ............................................................................................. 10
a. Enter 20% of line 10 ........................................................................................... 10a
b. Carryover of credit for production equipment using
postconsumer / postindustrial waste from prior years ........................................ 10b
c. Add lines 10a and 10b ........................................................................................ 10c
d. Subtract line 9 from line 8c ................................................................................. 10d
e. Subtract line 9 from line 8d ................................................................................. 10e
11. Credit for production equipment using postconsumer waste allowed.
Enter the smallest amount from lines 10c, 10d, 10e, or $30,000 ..................................................................... 11