Form 84 - Idaho Small Employer Real Property Improvement Tax Credit - 2015 Page 2
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1
2
3Instructions for Idaho Form 84
EFO00010p2
07-17-15
GENERAL INSTRUCTIONS
SPECIFIC INSTRUCTIONS
Form 84 is used to calculate the Idaho small employer real
Instructions are for lines not fully explained on the form.
property improvement tax credit (SE-RPITC) earned or allowed.
CREDIT AVAILABLE SUBJECT TO LIMITATION
Each member of a unitary group of corporations that earns or is
allowed the credit must complete a separate Form 84.
Line 1. Include a list of all property you acquired during the tax
year that qualifies for the SE-RPITC. The list should identify
QUALIFYING TAXPAYERS
what each item of property is, your basis in the item and the date
To qualify for the SE-RPITC, you must certify by filing Form 89SE
placed in service. Don't include any property placed in service
that you will meet the tax incentive criteria at the project site
before the date the project period began.
during the project period. If you haven't filed Form 89SE with the
Tax Commission, or you have been notified that you don't qualify
Line 3. Enter the amount of the SE-RPITC that's being passed
for the small employer incentives, you can't claim this credit.
through by S corporations, partnerships, trusts, or estates in
which you have an interest. This amount is from Form ID K-1,
QUALIFYING PROPERTY
Part D, line 10.
If you're a qualifying taxpayer, the SE-RPITC is allowed on
buildings and structural components of buildings that don't
Line 4. If you're a member of a unitary group, enter the amount
qualify for the investment tax credit. The buildings and structural
of credit you received from another member of the unitary group.
components must be at the project site and placed in service
during the project period.
Line 5. Enter the carryover from your 2014 Form 84, line 27.
The buildings and structural components must be new property.
Line 7. If you're an S corporation, partnership, trust, or estate,
Used property doesn't qualify for this credit.
enter the amount of credit that passed through to shareholders,
partners, or beneficiaries.
Buildings and structural components mean buildings and
Line 8. If you're a member of a unitary group, enter the amount
structural components of buildings as defined in Federal
Treasury Regulation Section 1.48-1 for Internal Revenue Code
of credit you earned that you elect to share with other members
Section 48 repealed by Public Law 101-508.
of your unitary group. Before you can share your credit, you
must use the credit up to the allowable limitation of your tax
Building generally means any structure enclosing a space within
liability.
its walls, and usually covered by a roof, the purpose of which
is to provide shelter or housing, or to provide working, office, or
Corporations claiming the SE-RPITC must provide a calculation
parking space.
of the credit earned and used by each member of the combined
group. The schedule must clearly identify shared credit and the
Structural components include such parts of a building as walls,
computation of any credit carryovers.
partitions, floors, and ceilings and any permanent coverings
CREDIT LIMITATIONS
to these items such as paneling or tiling; windows and doors;
all components of a central air conditioning or heating system;
If you're claiming against tax the Idaho credit for qualifying new
plumbing and plumbing fixtures; electric wiring and lighting
employees, skip lines 10 through 24 and compute the limitations
fixtures; chimneys; stairs, escalators, and elevators; sprinkler
on Form 55, Idaho Credit for Qualifying New Employees,
systems; fire escapes; and other components relating to the
Part II, Credit Limitations. Return to Form 84, line 25 to compute
operation or maintenance of a building.
the credit carryover.
CARRYOVER PERIODS
The SE-RPITC is limited to the smaller of $125,000 or the Idaho
SE-RPITC that was earned but not used against tax may be
income tax after allowing all other tax credits that may be claimed
carried forward for 14 tax years. For purposes of the carryover
before the SE-RPITC.
period, a short tax year counts as one tax year.
The following credits must be applied to the tax before the
RECAPTURE
SE-RPITC:
You must compute recapture if you sell or otherwise dispose of
the property or it ceases to qualify for the SE-RPITC before it has
1. Credit for income tax paid to other states
been in service for five full years.
2. Credit for contributions to Idaho educational entities
3. Investment tax credit
In addition, you must compute recapture if you claimed the SE-
4. Credit for contributions to Idaho youth and rehabilitation
RPITC in an earlier year and fail to meet the tax incentive criteria
facilities
that you certified to on Idaho Form 89SE.
5. Credit for production equipment using postconsumer waste
6. Promoter-sponsored event credit
If you claimed the SE-RPITC and recapture is now required, file
7. Credit for qualifying new employees
Form 84R.
8. Credit for Idaho research activities
9. Broadband equipment investment credit
10. Incentive investment tax credit
11. Small employer investment tax credit
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