Fillable Form 67 - Credit For Idaho Research Activities

EFO00037p4

Form 67 - Page 2

06-14-13

FIxED-BASE pERCEnTAGE - pARTS A & B

line 20. If you are a partnership, S corporation, estate, or trust, enter

the amount of credit that passed through to partners, shareholders, or

If you are computing the credit for a start-up company, skip Part A and

beneficiaries.

use Part B to compute your fixed-base percentage. If you aren’t a

start-up company, use Part A and skip Part B.

line 21. If you are a member of a unitary group of corporations, enter

the amount of credit you earned that you elect to share with other

part A

members of your unitary group. Before you can share your credit, you

line 1. For each of the years 1984 through 1988, enter the total

Idaho qualified research expenses for the year in Column A and

must use the credit up to the allowable limitation of your Idaho income

tax.

the total Idaho gross receipts in Column B. Use the multistate

apportionment rules to determine the amount of gross receipts

Corporations claiming the Idaho research credit must provide a

attributable to Idaho. Gross receipts include receipts minus returns

and allowances from the sale of real, tangible, or intangible property

calculation of the credit earned and used by each member of the

combined group. The schedule must clearly identify shared credit and

held for sale to customers in the ordinary course of your trade or

the computation of any credit carryovers.

business. Amounts attributable to Idaho include receipts from

property that is delivered or shipped to a purchaser in Idaho. Sales

to the U.S. Government are Idaho gross receipts if the property is

CREDIT lIMITATIOnS

shipped from an office, store, warehouse, factory, or other place of

If you are claiming against tax the Idaho credit for qualifying new

employees, skip lines 23 through 27 and compute the limitations on

storage in Idaho.

Form 55, Idaho Credit for Qualifying New Employees, Part II, Credit

Limitations. The Idaho research credit and most other credits will be

line 2. Divide line 1f by line 1g. Round the percentage to four digits

limited to 50% of your Idaho income tax. Return to Form 67, line 28

to the right of the decimal point. For example .06666 is rounded to

to compute the credit carryover.

.0667 and should be entered as 6.67%. The percentage can’t exceed

16%. Enter the percentage here and on page 1, line 9.

If you aren't claiming against tax the credit for qualifying new

employees, compute the credit limitations on Form 67. The Idaho

part B

research credit is limited to the Idaho income tax after allowing all

line 1. Enter on this line which year after 1993 this credit year is.

For example, if this is the first tax year after 1993 in which you had

other tax credits that can be claimed before it.

qualified research expenses for research conducted in Idaho, enter

1st. If it is the seventh tax year after 1993 in which you had qualified

The following credits must be applied to the tax before the Idaho

research expenses for research conducted in Idaho, enter 7th. Don't

research credit:

enter the tax year.

1. Credit for tax paid to other states

Consider only the tax years in which you had qualified research

2. Credit for contributions to Idaho educational entities

3. I nvestment tax credit

expenses for research conducted in Idaho.

4. Credit for contributions to Idaho youth and rehabilitation facilities

5. Credit for production equipment using postconsumer waste

If this year is one of the 1st through 5th tax years after 1993 in which

6. P romoter sponsored event credit

you had qualified research expenses for research conducted in Idaho,

skip lines 2a through 4 and enter 3% on line 5. This percent will also

7. Credit for qualifying new employees

be entered on page 1, line 9.

line 23. Enter the amount of your Idaho income tax. This is the

computed tax before adding the permanent building fund tax or other

lines 2a through 2g. If this year is the 6th or later tax year after

taxes, or subtracting any credits.

1993 in which you had qualified research expenses for research

conducted in Idaho, use the table on page 3 to complete columns A

and B for lines 2a through 2g. Column A identifies which years you

line 24a. Enter the credit for tax paid to other states from Form 39R

or Form 39NR. This credit is available only to individuals, estates,

need to enter the qualified research expenses for research conducted

in Idaho. Depending on which year this is, you may not enter an

and trusts.

amount on each line. For example, if this is the 8th tax year, enter

amounts for the 5th through 7th tax years only, lines 2b through 2d.

line 24b. Enter the credit for contributions to Idaho educational

entities from the appropriate Idaho income tax return.

Enter the Idaho gross receipts in Column B for the same tax years.

line 24c. Enter the investment tax credit allowed from Form 49,

line 4. If this year is the 6th or later tax year after 1993 in which you

Part II, line 8.

had qualified research expenses for research conducted in Idaho,

use Column C of the table on page 3 and enter the percent for the

applicable year. For example, if this is the 8th tax year, enter 50%.

line 24d. Enter the credit for contributions to Idaho youth and

rehabilitation facilities from the appropriate Idaho income tax return.

line 5. If this year is one of the 1st through 5th tax years after 1993

in which you had qualified research expenses for research conducted

line 24e. Enter the credit for production equipment using post-

in Idaho, enter 3%. For all other years, multiply line 3 by line 4.

consumer waste from the appropriate Idaho income tax return.

Round the percentage to four digits to the right of the decimal point.

line 24f. Enter the promoter sponsored event credit from the

For example .06666 is rounded to .0667 and should be entered as

6.67%. The percentage can’t exceed 16%. Enter the percentage

appropriate Idaho income tax return.

here and on page 1, line 9.

line 27. Enter the smaller amount from lines 25 or 26. Carry this

amount to Form 44, Part I, line 5, and enter it in the Credit Allowed

pART C

column.

lines 1a through 1d. For each of the 1st through 4th tax years prior

to this tax year, enter the Idaho gross receipts for each applicable

CREDIT CARRYOVER

year. Use the multistate apportionment rules to determine the amount

line 30. The amount of credit available that exceeds the total credit

of gross receipts attributable to Idaho. Don't include returns and

allowed on the current year tax return may be carried forward up

allowances. If one or more of the four preceding tax years is a short

to 14 tax years. Enter this amount on Form 44, Part I, line 5 in the

tax year, the Idaho gross receipts for the short year are annualized.

Carryover column.

Form 67 - Credit For Idaho Research Activities - 2013 Page 4

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