Form 85 - Idaho Small Employer New Jobs Tax Credit

2013

IDAHO SMALL EMPLOYER

EFO00017

NEW JOBS TAX CREDIT

06-05-13

Social Security Number or EIN

Name(s) as shown on return

QUALIFYING FOR THE CREDIT

You may claim the small employer new jobs tax credit if you have certified on Form 89SE that you will meet the following tax incentive

criteria at the project site during the project period:

1. Capital investment in new plant and building facilities of at least $500,000,

2. Increased employment by at least 10 new employees who each earn at least $19.23 per hour and receive health benefits, and

3. For new employment increases above the 10 new employees, the average wages of the additional new employees is at least

$15.50 per hour worked. See the instructions for who is included in this calculation.

If you have not filed Form 89SE with the Tax Commission or have been notified that you do not qualify for the small employer

incentives, you do not qualify for this credit; however, you may qualify for the Hire One Act credit. See Idaho Form 72.

CREDIT AVAILABLE SUBJECT TO LIMITATIONS

1. The average number of qualifying employees during the tax year ...............................................................

2. The average number of qualifying employees during the three

preceding tax years .............................................................................................

3. The average number of qualifying employees during the

preceding tax year ..............................................................................................

4. Subtract the greater of line 2 or 3 from line 1 and enter the difference. This is

the number of qualifying new employees. The amount must equal or exceed one .....................................

5. Number of qualifying new employees listed on line 4 whose annual salary

during the tax year the credit was earned was:

a. greater than $24.04 per hour worked but

equal to or less than an average rate of $28.85 per hour worked ..................

b. greater than an average rate of $28.85 per hour worked but

equal to or less than an average rate of $36.06 per hour worked ..................

c. greater than an average rate of $36.06 per hour worked but

equal to or less than an average rate of $43.27 per hour worked ..................

d. greater than an average rate of $43.27 per hour worked ..............................

$1,500 Credit

6. Multiply the number on line 5a by $1,500 ......................................................................................................

$2,000 Credit

7. Multiply the number on line 5b by $2,000 ......................................................................................................

$2,500 Credit

8. Multiply the number on line 5c by $2,500 ......................................................................................................

$3,000 Credit

9. Multiply the number on line 5d by $3,000 ......................................................................................................

10. Add lines 6 through 9. This is your total small employer new jobs tax credit earned this tax year ...............

11. Pass-through share of credit from a partnership, S corporation, estate or trust ............................................

12. Credit received through unitary sharing. Include a schedule ........................................................................

13. Carryover of small employer new jobs tax credit from prior years .................................................................

14. Carryover eliminated due to recapture in 2013. Enter the amount from Form 85R, line 11.

Include Form 85R ..........................................................................................................................................

15. Credit distributed to partners, shareholders or beneficiaries .........................................................................

16. Credit shared with unitary affiliates ................................................................................................................

17. Total credit available subject to limitations. Add lines 10 through 13 and subtract lines 14 through 16 ........