Schedule Jt - Wisconsin Jobs Tax Credit - 2012
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1
2Schedule
JT
Wisconsin Jobs Tax Credit
2012
File with Wisconsin Form 1, 1NPR, 2, 3, 4, 4T, 5 or 5S
Wisconsin Department
Read instructions before filling in this schedule
of Revenue
Name
Identifying Number
1 Enter amount of wage tax benefits awarded by the Wisconsin Economic Development
Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
2 Enter amount awarded by the Wisconsin Economic Development Corporation for costs
incurred to undertake training activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
3 Add lines 1 and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
4 Enter jobs tax credit passed through from other entities . . . . . . . . . . . . . . . . . . . . . . . . . . 4
5 Add lines 3 and 4 . This is your 2012 jobs tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
5a Fiduciaries - enter the amount of credit allocated to beneficiaries . . . . . . . . . . . . . . . . . . . 5a
5b Fiduciaries - subtract line 5a from line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5b
6 Unused 2010 jobs tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . 6
7 Unused 2011 jobs tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
8 Add lines 6 and 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
9 Add lines 5 and 8 (lines 5b and 8 for fiduciaries). This is the available jobs tax
credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Instructions for 2012 Schedule JT
Purpose of Schedule JT
Partnerships, LLCs treated as partnerships, and tax-
option (S) corporations cannot claim the credit, but
the credit amount attributable to the entity’s business
Use Schedule JT to claim the jobs tax credit, which
is available for taxpayers who are certified by the
operations passes through to the partners, members
or shareholders .
Wisconsin Economic Development Corporation
(WEDC). For information regarding how to become
No credit is allowed unless the claimant satisfies the
certified, visit the WEDC web site at inwisconsin .
following requirements:
com or write to the WEDC, PO Box 1687, Madison
WI 53701-1687 .
•
The claimant is certified by the WEDC.
Carryforward of Unused Credits
•
The claimant has received from the WEDC notice
of eligibility to receive tax benefits that reports
For taxable years beginning in 2010 and 2011, the
the amount of tax benefit for which the claimant
jobs tax credit was nonrefundable . The credit could
is eligible .
only be used to offset tax due . Any unused credit for
these two years may be carried forward to taxable
The credit is based on wages paid to an eligible
years beginning in 2012 . The credit is refundable
employee and costs incurred to undertake training
for taxable years beginning in 2012 and thereafter .
activities .
Who is Eligible to Claim the Credit
Credit is Income
Any individual, estate, trust, partnership, limited
liability company (LLC), corporation or tax-exempt
The credit you compute on Schedule JT is income
organization that is certified by the WEDC may be
and must be reported on your Wisconsin franchise
or income tax return in the year computed .
eligible for the credit .
IC-066
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