Instructions For Form Pa-20s/pa-65 - Schedule Oc - Other Credits

The entity then distributes the amount

Consequently if the entity has corpora-

LINE 10

reported on Line 5 according to owner-

tion tax liability, the amount of credit

ship percentage.

reported on Line 8 must be less the cor-

Educational Improvement

porate tax liability.

Tax Credit

EXAMPLE

Pennsylvania does not require a reduc-

Enter the amount of tax credit from the

Total income

tion in expenses to calculate the Re-

Pennsylvania Department of Commu-

from everywhere $100,000

source Enhancement and Protection tax

nity and Economic Development certi-

PA-source income . . 25,000

credit. If the entity sells or assigns the

fication sent to you.

Other state’s

Resource Enhancement and Protection

income . . . . . . . . . .75,000 x 2.00 percent (0.0200)

Pennsylvania does not allow a deduction

tax credit it is reported as a gain on PA-

= $ 1,500

for contributions made to calculate the

20S/PA-65 Schedule D.

Other state’s income

Educational Improvement Tax Credit. If

Also taxed

LINE 8

the expenses were deducted in calculat-

in Pennsylvania . . . .75,000 x 3.07 percent (0.0307)

ing federal-taxable income, the amount

= $ 2,302

Neighborhood Assistance

should be reported as a reduction in ex-

Lesser of the two . . .$1,500

Program Tax Credit

penses on PA-20S/PA-65 Schedule M,

Enter the amount of tax credit from the

Section E, Line f. Do not reduce Penn-

The amount of credit reported on Line

Pennsylvania Department of Commu-

sylvania-taxable income by amounts

5 is $1,500 because it is less than the

nity and Economic Development certi-

amount of tax payable to Pennsylvania.

paid to qualify for the tax credit.

fication sent to you.

LINE 6

LINE 11

If the entity has corporate tax liability

for the tax year in which the Neighbor-

Keystone Innovation Zone

Keystone Special Development

hood Assistance Program tax credit is

Tax Credit

Zone Tax Credit

approved for use, the tax credit must

Enter the amount of tax credit from the

be first applied to the corporate tax lia-

Pennsylvania Department of Community

Pennsylvania Department of Commu-

bility before it is passed through to the

and Economic Development certification

nity and Economic Development certi-

entity’s owners.

sent to you.

fication sent to you.

Consequently if the entity has corpora-

If the entity has corporate tax liability for

Pennsylvania does not require a re-

tion tax liability, the amount of credit

the tax year in which the Keystone Inno-

duction in expenses to calculate the

reported on Line 9 must be less the cor-

vative Zone tax credit is approved for

Keystone Special Development Zone

porate tax liability.

use, the tax credit must be first applied

Tax Credit.

to the corporate tax liability before it is

Pennsylvania does not allow a deduction

passed through to the entity’s owners.

for contributions made to calculate the

LINE 12

Neighborhood Assistance Program Tax

Consequently if the entity has corpora-

Credit. If the expenses were deducted

Opportunity Scholarship

tion tax liability, the amount of credit

in calculating federal-taxable income,

reported on Line 7 must be less the cor-

Tax Credit

the amount should be reported as a re-

porate tax liability.

Enter the amount of tax credit from the

duction in expenses on PA-20S/PA-65

Pennsylvania Department of Commu-

Pennsylvania does not require a reduc-

Schedule M, Section E, Line f.

nity and Economic Development certi-

tion in expenses to calculate the Key-

Do not reduce Pennsylvania-taxable in-

fication sent to you.

stone Innovation Zone tax credit. If the

come by amounts paid to qualify for the

entity sells or assigns the Keystone In-

tax credit.

LINE 13

novation Zone tax credit it is reported

as a gain on PA-20S/PA-65 Schedule D.

If the entity sells or assigns the Neigh-

Historic Preservation Incentive

borhood Assistance Program Tax Credit

Tax Credit

LINE 7

it is reported as a gain on PA-20S/PA-

Enter the amount of tax credit from the

65 Schedule D.

Resource Enhancement and

Pennsylvania Department of Commu-

Protection Tax Credit

nity and Economic Development certi-

LINE 9

Enter the amount of tax credit from the

fication sent to you.

Pennsylvania Department of Revenue

Strategic Development Area

certification sent to you.

LINE 14

Jobs Creation Tax Credit

Enter the amount of tax credit from the

If the entity has corporate tax liability

Community-Based Services

Pennsylvania Department of Commu-

for the tax year in which the Resource

Tax Credit

nity and Economic Development certi-

Enhancement and Protection tax credit

Enter the amount of tax credit from the

fication sent to you. Pennsylvania does

is approved for use, the tax credit must

Pennsylvania Department of Commu-

be first applied to the corporate tax lia-

not require a reduction in expenses to

nity and Economic Development certi-

calculate the Strategic Development

bility before it is passed through to the

entity’s owners.

Area Jobs Creation tax credit.

fication sent to you.

Instructions For Form Pa-20s/pa-65 - Schedule Oc - Other Credits - 2013 Page 10

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