Arizona Form 140py - Part-Year Resident Personal Income Tax Return - 2013 Page 22
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29Arizona Form 140PY
Credit for Renewable Energy Industry (Form 342)
2013 - Refundable Credit Worksheet
You may qualify for the refundable credit for renewable
1. Enter the refundable credit from Form
energy industry if you expanded or located a qualified
renewable energy operation in Arizona. The tax credit is
308-I, Part IV, line 31
refundable in five equal installments. Pre-approval and post-
2. Enter the refundable credit from Form
approval are required through the Arizona Commerce
342, Part VI, line 18.
Authority.
For more information about this credit, see
Arizona Form 342.
3. Enter the refundable credit from Form
You must attach a copy of your “Certificate of
349, Part VI, line 18.
Qualification” from the Arizona Commerce Authority, and
4. Enter the refundable credit from Form
Form 342 to your return to claim this credit.
350, Part II, line 13.
If you are claiming the credit for renewable energy industry,
from Form 342, enter the amount from Form 342, Part VI,
5. Add the amounts on lines 1 through 4.
line 18, here.
Enter the total here and on line 35.
Credit for Qualified Facilities.
Line 36 - Total Payments and Refundable
You may qualify for the refundable qualified facilities credit
Credits
if you expanded or located a qualified facility in Arizona.
Line 36 is the total payments and refundable credits claimed.
This credit is refundable in five equal installments. Pre-
Add lines 31 through 35. Enter the total
approval and post-approval are required through the Arizona
Commerce Authority.
For more information about this
Arizona’s Claim of Right Provision
credit, see Arizona Form 349.
If you computed your 2013 tax under Arizona's claim of
You must attach a copy of your “Certificate of
right provisions do the following.
Qualification” from the Arizona Commerce Authority and
1. Write "A.R.S. § 43-1029" and the amount of the prior
Form 349 to your tax return to claim this credit. If you are
year tax reduction in the space to the left of your total
claiming a refund of the qualified facilities credit from Form
payment amount.
349, enter the amount from Form 349, Part VI, line 18, here.
2. Include the credit for the prior year tax reduction in the
Credit for Airline Bankruptcy Payments (Form 350)
total entered on line 36.
You may qualify for the refundable airline bankruptcy
3. Attach a schedule explaining the amounts repaid and the
payments credit if you amended your federal tax return
computation of the prior year tax reduction.
adjusting
your
federal
adjusted
gross
income
for
For more information on Arizona's claim of right provisions,
overpayment of tax related to payments received that
see the department’s Individual Income Tax Procedure ITP
qualified for a Roth IRA rollover under a 2008 federal law.
For federal tax purposes, individuals were required to amend
95-1.
their tax returns to receive any overpayment as a result of the
Figuring Your Overpayment or Tax Due
qualified rollover(s). This provision is retroactive to taxable
years 2001 through 2011.
Line 37 - Tax Due
Arizona did not conform to the federal retroactive provision.
If line 30 is more than line 36, you have tax due. Subtract
Instead, any taxpayer that would have received a refund of
line 36 from line 30. Skip lines 38, 39, and 40.
Arizona income tax for taxable years 2001 through 2011, if
Line 38 - Overpayment
Arizona had conformed to that retroactive provision, is
If line 36 is more than line 30, subtract line 30 from line 36.
allowed a refundable income tax credit on his or her 2013
Complete lines 39 and 40.
income tax return.
Line 39 - Amount of Line 38 to Apply to 2014 Tax
The credit is based on the amount of refund you would have
received if you amended your tax returns for taxable years
If you want all or part of your refund applied to next year's
2001 through 2011.
Arizona estimated taxes, enter that amount.
To claim this credit, complete and attach AZ Form 350 to
NOTE: If you apply any of the amount shown on line 38 to
your return. The credit must be claimed on a timely filed
2014, you cannot use that amount to pay any tax that is later
2013 Arizona income tax return (including extensions).
found to be due for 2013. You also may not claim a refund
Enter the refundable credit from Form 350, Part II, line 13.
for that amount until you file your 2014 return.
Note: If any amount of the FAA credit claimed is later
Line 40 - Balance of Overpayment
determined by the department to be incorrect or invalid, the
excess refund may be treated as a tax deficiency.
Subtract line 39 from line 38 to determine your overpayment
If you are claiming more than one of the refundable tax
balance before voluntary gifts and any estimated payment
credits, add the amounts from the credit forms together and
penalty; MSA withdrawal penalty; and/or Long-term Health
enter the total on line 35. You may use the following table
Care Savings Account (HSA) withdrawal penalty.
to figure the amount to enter on line 35.
22
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