Form 83 - Idaho Small Employer Investment Tax Credit

Form 83 - Page 2

EFO00011p3

08-02-11

SPECIFIC INSTRUCTIONS

4. Credit for contributions to Idaho youth and rehabilitation

facilities

Instructions are for lines not fully explained on the form.

5. Credit for production equipment using postconsumer waste

6. Promoter sponsored event credit

CREDIT AVAILABLE SUBJECT TO LIMITATION

7. Credit for Idaho research activities

Line 1. Include a list of all property you acquired during the tax

8. Broadband equipment investment credit

year that qualifies for the SE-ITC. The list should identify what

9. Incentive investment tax credit

each item of property is, your basis in the item and the date

placed in service. Do not include any property placed in service

Line 12. Enter the amount of your Idaho income tax. This is the

before the date the project period began.

computed tax before adding the permanent building fund tax or

any other taxes, or subtracting any credits.

Line 2. Enter the amount of qualified investments for which you

claimed the property tax exemption. This exemption is allowed in

Line 13. Enter the credit for tax paid to other states from Form

lieu of earning the SE-ITC. Include applicable Form(s) 49E.

39R or Form 39NR. This credit is available only to individuals,

estates, and trusts.

Line 5. Enter the amount of the SE-ITC that is being passed

through by partnerships, S corporations, estates or trusts in

Line 14. Enter the credit for contributions to Idaho educational

which you have an interest. This amount is reported on Form ID

entities from the appropriate Idaho income tax return.

K-1, Part D, line 8.

Line 15. Enter the investment tax credit allowed from Form 49,

Line 6. If you are a member of a unitary group, enter the amount

Part II, line 8.

of credit you received from another member of the unitary group.

Line 16. Enter the credit for contributions to Idaho youth and

Line 7. Enter the carryover computed on your 2010 Form 83,

rehabilitation facilities from the appropriate Idaho income tax

line 29.

return.

Line 9. If you are a partnership, S corporation, trust or estate,

Line 17. Enter the credit for production equipment using post-

enter the amount of credit that passed through to partners,

consumer waste from the appropriate Idaho income tax return.

shareholders, or beneficiaries.

Line 18. Enter the promoter sponsored event credit from the

Line 10. If you are a member of a unitary group, enter the

appropriate Idaho income tax return.

amount of credit you earned that you elect to share with other

members of your unitary group. Before you can share your

Line 19. Enter the credit allowed for Idaho research activities

credit, you must use the credit up to the allowable limitation of

from Form 67, line 29.

your tax liability.

Line 20. Enter the amount allowed for the broadband equipment

Corporations claiming the SE-ITC must provide a calculation of

investment tax credit from Form 68, line 18.

the credit earned and used by each member of the combined

group. The schedule must clearly identify shared credit and the

Line 21. Enter the credit allowed for the incentive investment tax

computation of any credit carryovers.

credit from Form 69, line 16.

CREDIT LIMITATIONS

Line 26. Enter the smallest amount from lines 23, 24, or 25 on

The SE-ITC is limited to the smaller of $750,000, 62.5% of your

line 26. Enter this amount on Form 44, Part I, line 7 in the Credit

tax liability, or the Idaho income tax after allowing all other tax

Allowed column.

credits that may be claimed before the SE-ITC.

CREDIT CARRYOVER

The following credits must be applied to the tax before the

Line 29. The amount of credit available that exceeds the total

SE-ITC:

credit allowed on the current year tax return may be carried

forward up to 14 tax years. Enter this amount on Form 44,

1. Credit for tax paid to other states

Part I, line 7 in the Carryover column.

2. Credit for contributions to Idaho educational entities

3. Investment tax credit

Form 83 - Idaho Small Employer Investment Tax Credit - 2011 Page 3

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