Schedule Wc - Water Consumption Credit - 2012 Page 2
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Schedule WC
Page
Line 4: Multiply the amount on line 3 by 0 .50 (50%) .
Required Attachments to Return
Enter the result on line 4 .
File your completed Schedule WC with your Wisconsin
Line 5: Enter the amount of water consumption credit
franchise or income tax return . Shareholders of tax-option
passed through from tax-option (S) corporations,
(S) corporations, partners of partnerships, members of
LLCs treated as partnerships, and beneficiaries of estates
partnerships, LLCs treated as partnerships, estates or
or trusts must file a copy of Schedule 5K-1, 3K-1, or 2K-1,
trusts . The pass-through credit is shown on Schedule
5K-1 for shareholders of tax-option (S) corporations,
as appropriate, with Schedule WC .
Schedule 3K-1 for partners and LLC members, and
Schedule 2K-1 for beneficiaries of estates or trusts.
Additional Information
Line 7: The maximum amount of credit that may be
For more information, you may:
claimed in a taxable year is $300,000.
•
E-mail your question to
corp@revenue .wi .gov
Line 8: Enter the smaller of the amount on line 6 or line 7 .
•
Call (608) 266-2772 [TTY: Call the Wisconsin
This is your 2012 water consumption credit . Fiduciaries
must complete lines 8a and 8b .
Telecommunications Relay System at 711 . If no
answer, dial 1-800-947-3529] .
Line 8a: Fiduciaries - Prorate the credit from line 8
•
Send a FAX to (608) 267-0834
between the entity and its beneficiaries in proportion to
the income allocable to each. Show the beneficiaries’
•
Write to the Audit Bureau, Wisconsin Department of
portion of the credit on line 8a . Show the credit for each
Revenue, Mail Stop 5-144, PO Box 8906, Madison
beneficiary on Schedule 2K-1.
WI 53708-8906 .
Line 8b: Fiduciaries - Show only the entity’s portion of
the credit on line 8b .
Line 9: Enter any unused water consumption credit
carried over from prior years .
Line 10: Add lines 8 and 9 (lines 8b and 9 if fiduciary)
but not more than $300,000.
Enter the amount of credit from line 10 on the appropriate
line of Schedule CR . See the following exceptions:
•
If the claimant is a combined group member, 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 8 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 .
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