Form 67 - Credit For Idaho Research Activities - 2015 Page 4
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5EFO00037p4
Form 67 - Page 2
07-07-15
Line 10. Enter the average annual Idaho gross receipts for the
Line 24d. Enter the credit for contributions to Idaho youth and
previous four tax years from page 2, Part C. The instructions for Part
rehabilitation facilities from the appropriate Idaho income tax return.
C begin on page 2 of these instructions.
Line 24e. Enter the credit for production equipment using post-
Line 11. Multiply the amount on line 10 by the percentage on line 9.
consumer waste from the appropriate Idaho income tax return.
If the tax year is a short tax year, prorate the base amount based on
the number of months in the short tax year.
Line 24f. Enter the promoter-sponsored event credit from the
appropriate Idaho income tax return.
Line 17. Enter the amount of Idaho research credit that's being
passed to you from S corporations, partnerships, trusts, or estates, in
Line 27. Enter the smaller amount from lines 25 or 26. Carry this
which you have an interest. This amount is from Form ID K-1, Part D,
amount to Form 44, Part I, line 5, and enter it in the Credit Allowed
line 5.
column.
CREDIT CARRYOVER
Line 18. If you're a member of a unitary group of corporations, enter
the amount of credit you received from another member of the unitary
Line 30. The amount of credit available that exceeds the total credit
group.
allowed on the current year tax return may be carried forward up
to 14 tax years. Enter this amount on Form 44, Part I, line 5 in the
Line 19. Enter the carryover from your 2014 Form 67, line 30.
Carryover column.
FIXED-BASE PERCENTAGE - PARTS A & B
Line 20. If you're an S corporation, partnership, trust, or estate, enter
the amount of credit that passed through to shareholders, partners, or
If you're computing the credit for a start-up company, skip Part A and
beneficiaries.
use Part B to compute your fixed-base percentage. If you aren’t a
start-up company, use Part A and skip Part B.
Line 21. If you're a member of a unitary group of corporations, enter
Part A
the amount of credit you earned that you elect to share with other
Line 1. For each of the years 1984 through 1988, enter the total
members of your unitary group. Before you can share your credit, you
must use the credit up to the allowable limitation of your Idaho income
Idaho qualified research expenses for the year in Column A and
tax.
the total Idaho gross receipts in Column B. Use the multistate
apportionment rules to determine the amount of gross receipts
Corporations claiming the Idaho research credit must provide a
attributable to Idaho. Gross receipts include receipts minus returns
calculation of the credit earned and used by each member of the
and allowances from the sale of real, tangible, or intangible property
combined group. The schedule must clearly identify shared credit and
held for sale to customers in the ordinary course of your trade or
the computation of any credit carryovers.
business. Amounts attributable to Idaho include receipts from
property that's delivered or shipped to a purchaser in Idaho. Sales
CREDIT ORDERING AND LIMITATIONS
to the U.S. Government are Idaho gross receipts if the property is
If you're claiming against tax the Idaho credit for qualifying new
shipped from an office, store, warehouse, factory, or other place of
employees, skip lines 23 through 27 and compute the limitations on
storage in Idaho.
Form 55, Idaho Credit for Qualifying New Employees, Part II, Credit
Limitations. The Idaho research credit and most other credits will be
Line 2. Divide line 1f by line 1g. Round the percentage to four digits
limited to 50% of your Idaho income tax. Return to Form 67, line 28
to the right of the decimal point. For example .06666 is rounded to
to compute the credit carryover.
.0667 and should be entered as 6.67%. The percentage can’t exceed
16%. Enter the percentage here and on page 1, line 9.
If you aren't claiming against tax the credit for qualifying new
Part B
employees, compute the credit limitations on Form 67. The Idaho
research credit is limited to the Idaho income tax after allowing all
Line 1. Enter on this line which year after 1993 this credit year is.
other tax credits that can be claimed before it.
For example, if this is the first tax year after 1993 in which you had
qualified research expenses for research conducted in Idaho, enter
The following credits must be applied to the tax before the Idaho
1st. If it's the seventh tax year after 1993 in which you had qualified
research credit:
research expenses for research conducted in Idaho, enter 7th. Don't
enter the tax year.
1. Credit for income tax paid to other states
2. Credit for contributions to Idaho educational entities
Consider only the tax years in which you had qualified research
3. I nvestment tax credit
expenses for research conducted in Idaho.
4. Credit for contributions to Idaho youth and rehabilitation facilities
5. Credit for production equipment using postconsumer waste
If this year is one of the 1st through 5th tax years after 1993 in which
6. P romoter-sponsored event credit
you had qualified research expenses for research conducted in Idaho,
7. Credit for qualifying new employees
skip lines 2a through 4 and enter 3% on line 5. This percent will also
be entered on page 1, line 9.
Line 23. Enter the amount of your Idaho income tax. This is the
Lines 2a through 2g. If this year is the 6th or later tax year after
computed tax before subtracting any credits or adding the permanent
building fund tax or other taxes.
1993 in which you had qualified research expenses for research
conducted in Idaho, use the table on page 3 to complete columns A
Line 24a. Enter the credit for income tax paid to other states from
and B for lines 2a through 2g. Column A identifies which years you
Form 39R or Form 39NR. This credit is available only to individuals,
need to enter the qualified research expenses for research conducted
trusts, or estates.
in Idaho. Depending on which year this is, you may not enter an
amount on each line. For example, if this is the 8th tax year, enter
Line 24b. Enter the credit for contributions to Idaho educational
amounts for the 5th through 7th tax years only, lines 2b through 2d.
entities from the appropriate Idaho income tax return.
Enter the Idaho gross receipts in Column B for the same tax years.
Line 24c. Enter the investment tax credit allowed from Form 49,
Part II, line 8.
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