Form 84 - Idaho Small Employer Real Property Improvement Tax Credit - 2012 Page 2
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1
2
3Instructions for Idaho Form 84
EFO00010p2
09-19-12
GENERAL INSTRUCTIONS
SPECIFIC INSTRUCTIONS
Form 84 is used to calculate the Idaho small employer real
Instructions are for lines not fully explained on the form.
property improvement tax credit (SE-RPITC) earned or allowed.
Each member of a unitary group of corporations that earns or is
CREDIT AVAILABLE SUBJECT TO LIMITATION
allowed the credit must complete a separate Form 84.
Line 1. Include a list of all property you acquired during the tax
year that qualifies for the SE-RPITC. The list should identify
QUALIFYING TAXPAYERS
what each item of property is, your basis in the item and the date
To qualify for the SE-RPITC, you must certify by filing Form 89SE
placed in service. Do not include any property placed in service
that you will meet the tax incentive criteria at the project site
before the date the project period began.
during the project period. If you have not filed Form 89SE with
the Tax Commission, or you have been notified that you do not
Line 3. Enter the amount of the SE-RPITC that is being passed
qualify for the small employer incentives, you may not claim this
through by partnerships, S corporations, estates or trusts in
credit.
which you have an interest. This amount is from Form ID K-1,
Part D, line 10.
QUALIFYING PROPERTY
If you are a qualifying taxpayer, the SE-RPITC is allowed on
Line 4. If you are a member of a unitary group, enter the amount
buildings and structural components of buildings that do not
of credit you received from another member of the unitary group.
qualify for the investment tax credit. The buildings and structural
components must be at the project site and placed in service
Line 5. Enter the carryover from your 2011 Form 84, line 27.
during the project period.
Line 7. If you are a partnership, S corporation, trust or estate,
The buildings and structural components must be new property.
enter the amount of credit that passed through to partners,
Used property does not qualify for this credit.
shareholders, or beneficiaries.
Buildings and structural components mean buildings and
Line 8. If you are a member of a unitary group, enter the amount
structural components of buildings as defined in Federal
of credit you earned that you elect to share with other members
Treasury Regulation Section 1.48-1 for Internal Revenue Code
of your unitary group. Before you can share your credit, you
Section 48 repealed by Public Law 101-508.
must use the credit up to the allowable limitation of your tax
liability.
Building generally means any structure enclosing a space within
its walls, and usually covered by a roof, the purpose of which
Corporations claiming the SE-RPITC must provide a calculation
is to provide shelter or housing, or to provide working, office, or
of the credit earned and used by each member of the combined
parking space.
group. The schedule must clearly identify shared credit and the
computation of any credit carryovers.
Structural components include such parts of a building as walls,
CREDIT LIMITATIONS
partitions, floors, and ceilings and any permanent coverings
to these items such as paneling or tiling; windows and doors;
If you are claiming against tax the Idaho credit for qualifying new
all components of a central air conditioning or heating system;
employees, skip lines 10 through 24 and compute the limitations
plumbing and plumbing fixtures; electric wiring and lighting
on Form 55, Idaho Credit for Qualifying New Employees,
fixtures; chimneys; stairs, escalators, and elevators; sprinkler
Part II, Credit Limitations. Return to Form 84, line 25 to compute
systems; fire escapes; and other components relating to the
the credit carryover.
operation or maintenance of a building.
The SE-RPITC is limited to the smaller of $125,000 or the Idaho
CARRYOVER PERIODS
income tax after allowing all other tax credits that may be claimed
SE-RPITC that was earned but not used against tax may be
before the SE-RPITC.
carried forward for 14 tax years. For purposes of the carryover
period, a short tax year counts as one tax year.
The following credits must be applied to the tax before the
SE-RPITC:
RECAPTURE
You must compute recapture if you sell or otherwise dispose of
1. Credit for tax paid to other states
the property or it ceases to qualify for the SE-RPITC before it has
2. Credit for contributions to Idaho educational entities
been in service for five full years.
3. Investment tax credit
4. Credit for contributions to Idaho youth and rehabilitation
In addition, you must compute recapture if you claimed the SE-
facilities
RPITC in an earlier year and fail to meet the tax incentive criteria
5. Credit for production equipment using postconsumer waste
6. Promoter sponsored event credit
that you certified to on Idaho Form 89SE.
7. Credit for qualifying new employees
If you claimed the SE-RPITC and recapture is now required, file
8. Credit for Idaho research activities
Form 84R.
9. Broadband equipment investment credit
10. Incentive investment tax credit
11. Small employer investment tax credit
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