Sc Sch Tc-4sb -Small Business Jobs Credit Page 14
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14STEP 2 (continued), PART B - COMPUTING JOBS OVER THE 120% THRESHOLDS:
BASE
YEAR
YEAR
YEAR
YEAR
YEAR
YEAR
YEAR
1
2
3
4
5
6
LINE 1: TOTAL EMPLOYEES
OVER THE 120%
0
26
56
60
THRESHOLD
LINE 2: DIVIDED BY: NUMBER OF
NA
9
12
12
MONTHS IN OPERATION
LINE 3: MONTHLY AVERAGE OF
EMPLOYEES OVER THE
NA
2
4
5
THRESHOLD
NOTE: Round down to the next whole number.
LINE 4: LESS: PREVIOUS YEAR
AVERAGE
(line 3 of previous column)
0
2
4
LINE 5: AVERAGE INCREASE IN
EMPLOYEES OVER THE
2
2
1
THRESHOLD
LINE 6: YEAR 1 INCREASE
2
2
LINE 7: YEAR 2 INCREASE
2
LINE 8: YEAR 3 INCREASE
LINE 9: YEAR 4 INCREASE
LINE 10: YEAR 5 INCREASE
LINE 11: YEAR 6 INCREASE
LINE 12: ADD LINES 6 THROUGH 11
2
4
LINE 13: ENTER AMOUNTS FROM
8
6
STEP 1, PART B, LINE 12
LINE 14: JOBS QUALIFYING FOR 100%
2
4
CREDIT (lesser of line 12 or line 13)
STEP 3 – DETERMINING THE ALLOWABLE CREDIT (Tax Year 2011)
100% Allowable Credit
8,000
Line 1
100% credit amount for each job (see STEP 3 instructions) . . . . . . . . . . . . . . . . . . . . . .
1. $_______________
0
Line 2
Additional credit amount(s) (see STEP 3 instructions) . . . . . . . . . . . . . . . . . . . . . . . . . .
2. $_______________
8,000
Line 3
Add lines 1 and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. $_______________
4
Line 4
Enter the amount from STEP 2, PART B, line 14 for the appropriate tax year . . . . . . . .
4. _______________
Enter -0- if STEP 2, PART B, line 14 is less than 2.
32,000
Line 5
Allowable 100% credit. Multiply line 3 by line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5. $_______________
50% Allowable Credit
4,000
Line 6
50% credit amount for each job (see STEP 3 instructions) . . . . . . . . . . . . . . . . . . . . . . .
6. $_______________
0
Line 7
Additional credit amount(s) (see STEP 3 instructions) . . . . . . . . . . . . . . . . . . . . . . . . . .
7 $_______________
4,000
Line 8
Add lines 6 and 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8. $_______________
6
Line 9
Enter the amount from STEP 1, PART B, line 12 for the appropriate tax year . . . . . . . .
9. _______________
2
Line 10
Line 9 minus line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10. _______________
8,000
Line 11
Allowable 50% credit. Multiply line 8 by Line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. $_______________
Total Allowable Credit
40,000
Line 12
Add lines 5 and 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. $_______________
0
Line 13
Your carryover credit from prior years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. $_______________
40,000
Line 14
Add lines 12 and 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14. $_______________
30,000
Line 15
Your current tax year tax liability. (See instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . . . 15. $_______________
15,000
Line 16
Multiply line 15 by 50% (0.50) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16. $_______________
Line 17
Enter the smaller of line 14 or line 16. Enter this amount on the appropriate tax credit
Schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17. $_______________
15,000
Line 18
Line 14 minus line 17. Unused credits may be carried forward for 15 years . . . . . . . . . . 18. $_______________
25,000
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