Fillable Schedule Tc - Wisconsin Technology Zone Credit

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2015 Schedule TC

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Partnerships, LLCs treated as partnerships, and tax-option

Line 6: Add lines 4 and 5d.

(S) corporations cannot claim the credit, but the credit attrib-

utable to the entity’s business operations passes through to

Line 6a: Fiduciaries - Prorate the credit from line 6 between

the entity and its beneficiaries in proportion to the income al-

the partners, members, or shareholders.

locable to each. Show the beneficiaries’ portion of the credit

on line 6a. Show the credit for each beneficiary on Schedule

Estates or trusts share the credit among themselves and their

beneficiaries in proportion to the income allocable to each.

2K-1.

Line 6b: Fiduciaries – Show only the entity’s portion of the

Credit Is Income

credit on line 6b.

The credit that you compute on Schedule TC is income and

must be reported on your Wisconsin franchise or income tax

Line 7: Enter any unused technology zone credit carried

return in the year computed. This is true even if you cannot

over from prior years.

use the full amount of a credit computed this year to offset

Line 8: Add lines 6 and 7 (lines 6b and 7 if a fiduciary). En-

tax liability for this year and must carry part or all of it forward

to future years.

ter the amount of credit from line 8 on the appropriate line of

Schedule CR. See the following exceptions:

Carryover of Unused Credits

•

If the claimant is a combined group member, enter the

The technology zone credit is nonrefundable. Any unused

amount of credit on Form 6, Part V, line 1 instead of

credit may be carried forward for 15 years. If there is a reor-

Schedule CR.

ganization of a corporation claiming a technology zone credit,

the limitations provided by Internal Revenue Code section

•

Tax-option (S) corporations, partnerships, and LLCs

383 may apply to the carryover of any unused Wisconsin

treated as partnerships should prorate the amount of

technology zone credit.

credit on line 6 among the shareholders, partners, or

members based on their ownership interest. Show the

credit for each shareholder on Schedule 5K-1 and for

Specific Instructions

each partner or member on Schedule 3K-1.

Line 1: Enter the 2015 credit from the WEDC verification

form for Wisconsin real and personal property taxes paid.

Required Attachments to Schedule TC

Line 2: Enter the 2015 credit from the WEDC verification

To claim the technology zone credit, you must file the following

form based on 10% of the capital investments you made in a

with Schedule TC:

technology zone. Capital investments include the following:

•

A copy of your certification for tax benefits issued by the

•

The purchase price of depreciable, tangible personal

WEDC.

property.

•

A statement from the WEDC verifying the amount of your

•

The amount expended to acquire, construct, rehabilitate,

credits for property taxes paid, capital investments made,

remodel, or repair real property in a technology zone.

and wages paid for jobs created in a technology zone.

Note: Capital investments cannot be used to calculate the

Exception for shareholders, partners, members, and

technology zone credit in either of the following cases:

beneficiaries: If the technology zone credit is received from

a tax-option (S) corporation, partnership, LLC treated as a

•

They are used to calculate any other tax credit, such as

partnership, estate, or trust, file a copy of your Schedule 5K-1,

a development zone credit or a research credit.

3K-1, or 2K-1 with Schedule TC instead of the above infor-

mation.

•

They are not retained for use in the technology zone for

the period during which your business is certified for tax

credits.

Additional Information

Line 3: Enter the 2015 credit from the WEDC verification form

For more information about claiming the credit, you may:

based on 15% of the amount spent for the first 12 months of

wages for each job that is created in a technology zone after

•

E-mail your question to

DORFranchise@revenue.wi.gov

certification.

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Send a FAX to (608) 267-0834

Line 5: Enter the amount of technology zone credit passed

•

Call (608) 266-2772 [TTY: Call the Wisconsin Telecom-

through from tax-option (S) corporations, partnerships,

munications Relay System at 711. If no answer, dial

LLCs treated as partnerships, estates, and trusts. The pass-

1-800-947-3529]

through credit is shown on Schedule 5K-1 for shareholders

of tax-option (S) corporations, Schedule 3K-1 for partners

•

Write to the Audit Bureau, Wisconsin Department of

and LLC members, and Schedule 2K-1 for beneficiaries of

Revenue, Mail Stop 5-144, PO Box 8906, Madison WI

estates and trusts.

53708-8906

Schedule Tc - Wisconsin Technology Zone Credit - 2015 Page 2

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