Schedulewb - Woody Biomass Harvesting And Processing Credit - 2012

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Woody Biomass Harvesting and
Schedule
WB
Processing 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 woody biomass harvesting and processing credit allocated to you by the
Department of Agriculture, Trade, and Consumer Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 1
2 Enter woody biomass harvesting and processing credit passed through from other entities . .
2
3 Add lines 1 and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
4 Maximum credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
$100,000
4a Enter credit computed for prior years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4a
4b Subtract line 4a from line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4b
5 Fill in the smaller of line 3 or line 4b . This is your 2012 woody biomass harvesting and
processing credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
5a Fiduciaries - enter the amount of credit allocated to beneficiaries . . . . . . . . . . . . . . . . . . . . . . 5a
5b Fiduciaries - subtract line 5a from line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5b
Instructions for 2012 Schedule WB
No credit is allowed unless the claimant satisfies the
Purpose of Schedule WB
following requirements:
Use Schedule WB to claim the woody biomass
harvesting and processing credit, which is available
The claimant is certified by the DATCP.
for taxpayers who are certified by the Department
The claimant has received from the DATCP
of Agriculture, Trade, and Consumer Protection
notice of the amount of credit allocated to the
(DATCP) . For information regarding how to become
certified, visit the DATCP web site at www .datcp .
claimant .
wi .gov or write to the DATCP, PO Box 8911, Madison
The credit must be claimed within four years of the
WI 53708-8911 .
unextended due date of the return .
The credit is available for taxable years beginning on
or after January 1, 2010, and before January 1, 2016 .
Maximum Credit
The maximum woody biomass harvesting and
Who is Eligible to Claim the Credit
processing credit allowed for taxable years that begin
on or after January 1, 2010, and before January 1,
Any individual, estate, trust, partnership, limited
2016, is $100,000 .
liability company (LLC), corporation or tax-exempt
organization that is certified by the DATCP may be
The aggregate amount of credit that a partnership,
eligible for the credit .
limited liability company treated as a partnership,
or tax-option (S) corporation may compute may not
Partnerships, LLCs treated as partnerships, and tax-
exceed $100,000 . If two or more persons own and
option (S) corporations cannot claim the credit, but
operate the woody biomass harvesting or processing
the credit amount attributable to the entity’s business
operation, each person may claim a credit in
operations pass through to the partners, members,
proportion to his or her ownership interest, except
or shareholders .
that the aggregate amount of credits claimed by all
persons who own and operate the operation may
not exceed $100,000 .
IC-070

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