Form 85 - Idaho Small Employer New Jobs Tax Credit - 2015 Page 4
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Line 11. Enter the amount of the SE-NJTC that's being passed
9. Broadband equipment investment credit
through by S corporations, partnerships, trusts, or estates in
10. Incentive investment tax credit
which you have an interest. This amount is reported on Form
11. Small employer investment tax credit
ID K-1, Part D, line 11.
12. Small employer real property improvement tax credit
Line 12. If you're a member of a unitary group, enter the amount
Line 18. Enter the amount of your Idaho income tax. This is the
of credit you received from another member of the unitary group.
computed tax before adding the permanent building fund tax or
any other taxes, or subtracting any credits.
Line 13. Enter the carryover from your 2014 Form 85, line 36.
Line 19. Enter the credit for income tax paid to other states from
Line 15. If you're an S corporation, partnership, trust, or estate,
Form 39R or Form 39NR. This credit is available only to
enter the amount of credit that passed through to shareholders,
individuals, trusts, and estates.
partners, or beneficiaries.
Line 33. Enter the smallest amount from lines 17, 31, or 32
Line 16. If you're a member of a unitary group, enter the amount
on line 33. Enter this amount on Form 44, Part I, line 10 in the
of credit you earned that you elect to share with other members
Credit Allowed column.
of your unitary group. Before you can share your credit, you
must use the credit up to the allowable limitation of the tax
CREDIT CARRYOVER
Line 36. The amount of credit available that exceeds the total
liability.
credit allowed on the current year tax return may be carried
Corporations claiming the SE-NJTC must provide a calculation
forward up to 10 tax years. Enter this amount on Form 44,
of the credit earned and used by each member of the combined
Part I, line 10, in the Carryover column.
group. The schedule must clearly identify shared credit and the
computation of any credit carryovers.
CREDIT LIMITATIONS
If you're claiming against tax the Idaho credit for qualifying new
employees, skip lines 18 through 33 and compute the limitations
on Form 55, Idaho Credit for Qualifying New Employees,
Part II, Credit Limitations. Return to Form 85, line 34 to compute
the credit carryover.
The SE-NJTC is limited to the smaller of 62.5% of the tax liability
or the Idaho income tax after allowing all other tax credits that
may be claimed before the SE-NJTC.
The following credits must be applied to the tax before the
SE-NJTC:
1. Credit for income tax paid to other states
2. Credit for contributions to Idaho educational entities
3. Investment tax credit
4. Credit for contributions to Idaho youth and rehabilitation
facilities
5. Credit for production equipment using postconsumer
waste
6. Promoter-sponsored event credit
7. Credit for qualifying new employees
8. Credit for Idaho research activities
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