Schedule O - Housing Development Project Credit

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SCHEDULE O
(Rev. 03/05)
HOUSING DEVELOPMENT PROJECT CREDIT
For Qualified Housing Development Project Investment Placed Into Service on or Before December, 2002
Business Name:
Identification Number:
DETERMINATION OF ELIGIBLE INVESTMENT
Property Purchased for the Housing
Date Place In
Cost or
%
Eligible Investment
Development Project
Service or Use
Other Basis
1. Property with useful life less than of 4 years.
0
2. Four (4) years but less than six (6) years.
33.33%
3. Six (6) years but less than eight (8) years
66.66%
4. Eight (8) years or more
100 %
5. Other cost (specify)
(a)
(b)
(c)
(d)
(e)
6. Total eligible investment ................................................................................................................................... $
7. Total allowable Housing Development Project Credit (10% of line 6) ............................................................ $
8. Annual Housing Development Project Credit (10% of line 7) .......................................................................... $
APPLICATION OF ANNUAL CREDIT (Prior to July 1, 1987)
Tax Eligible
Liability
Multiplier
for Offset
Credit Claimed
Business and Occupation Tax on the business of
selling property. (Ch. 11, Art. 13 - Sec. 2c)
x 50%
Business and Occupation Tax on the business of
contracting. (Ch. 11, Art. 13 - Sec. 2e)
x 50%
After June 30, 1987
Business and Occupation Tax
x 50%
Severance Tax
x 50%
Business Franchise Tax
x 50%
TOTALS ......................................................................................................................................... $
Notes:
1. The total amount of credit claimed may not exceed the lesser of:
(a) the annual Housing Development Project Credit (Part I, line 8) or
(b) the total amount of tax eligible for offset (Part II, Col. 3 total).
2. The itemization of property purchased for the Housing Development Credit must be completed and attached.
1

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