Schedulewb - Woody Biomass Harvesting And Processing Credit - 2012 Page 2
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1
2Schedule WB
2
Page
Line 5a: Fiduciaries - Prorate the credit from
Credit is Income
line 5 between the entity and its beneficiaries in
The credit you compute on Schedule WB is income
proportion to the income allocable to each . Show the
and must be reported on your Wisconsin franchise
beneficiaries’ portion of the credit on line 5a. Show
or income tax return in the year computed .
the credit for each beneficiary on Schedule 2K-1.
Specific Line Instructions
Line 5b: Fiduciaries - Subtract line 5a from line 5 .
Line 1: Enter the amount of credit as allocated to you
This is the estate or trusts portion of the credit . Enter
by the DATCP based on 10 percent of the amount
the amount of credit from line 5b on the appropriate
paid in the taxable year for equipment that is used
line of Schedule CR .
primarily to harvest or process woody biomass that
is used as fuel or as a component of fuel .
Required Attachments to Return
File your completed Schedule WB with your
“Woody biomass” means trees and woody plants,
Wisconsin franchise or income tax return . Include
including limbs, tops, needles, leaves, and other
a copy of your certification to claim tax benefits
woody parts, grown in a forest or woodland or on
and the notice of the amount of credit allocated to
agricultural land .
you by the DATCP . Shareholders of tax-option (S)
corporations, partners of partnerships, members of
“Used primarily” means to the exclusion of all other
LLCs treated as partnerships, and beneficiaries of
uses except for use not exceeding 25 percent of
estates or trusts must file a copy of Schedule 5K-1,
total use .
3K-1, or 2K-1, as appropriate, with Schedule WB
instead of the certification to claim tax benefits and
Line 2: Enter the amount of woody biomass
notice of allocation .
harvesting and processing credit passed through
from tax-option (S) corporations, partnerships,
Additional Information
LLCs treated as partnerships, estates, or trusts .
The pass-through credit is shown on Schedule 5K-1
For more information, you may:
for shareholders of tax-option (S) corporations,
Schedule 3K-1 for partners and LLC members, and
•
E-mail your question to
corp@revenue .wi .gov
Schedule 2K-1 for beneficiaries of estates or trusts.
•
Call (608) 266-2772 [TTY: Call the Wisconsin
Line 5: Fill in the smaller of line 3 or line 4b . This
Telecommunications Relay System at 711]
is the total current year woody biomass harvesting
and processing credit . Enter the amount of credit
•
Send a FAX to (608) 267-0834
from line 5 on the appropriate line of Schedule CR .
See the following exceptions:
•
Write to the Audit Bureau, Wisconsin Department
of Revenue, Mail Stop 5-144, PO Box 8906,
•
If the claimant is a combined group member,
Madison WI 53708-8906 .
enter the amount of credit on Form 4M instead
of Schedule CR .
•
Tax-option (S) corporations, partnerships, and
LLCs treated as partnerships should prorate
the amount of credit on line 5 among the
shareholders, partners, or members based on
their ownership interest . Show the credit for
each shareholder on Schedule 5K-1 and for each
partner or member on Schedule 3K-1 .
•
Fiduciaries who file Form 2 must complete lines
5a and 5b .
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