Form Srdtc-1 - Strategic Research And Development Tax Credit Page 6
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6Divide the amount on line 8 by the number of entries on
Enter the lesser of $2 million, the amount on Line 18, the
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line 7 [i.e., 3, 2 or 1] and enter here. If you skipped Lines
amount on Line 15 less any credit claimed on Line 17, or
7 and 8, enter $0 on this line.
the amount of available credit you wish to use to offset Corporation
Net Income Tax here.
Subtract the amount on Line 9 from the amount on Line
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6 and enter here. If the calculated amount is less than $0,
Enter your total amount of Personal Income Tax liability
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enter $0 on this line.
on the conduit income directly derived from the qualified
Strategic Research and Development pass through entity [e.g.,
if $500,000 out of $2,000,000 in total adjusted gross income is
Multiply the amount on Line 10 by 10% [0.10] and enter
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attributable to income from the qualified business entity, then
the result here.
$2,000,000) of total personal income tax
25% ($500,000/
Multiply the amount on Line 6 by 3% [0.03] and enter
liability should be entered here].
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the result here.
Enter the lesser of $2,000,000, the amount on Line 20,
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Research and Development companies enter the greater
the amount on Line 15 less any credit claimed on Line 17
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of the value on Line 11 or the value on Line 12 here.
and Line 19, or the amount of available credit you wish to use to
Owners allocated Strategic Research and Development Tax
offset Personal Income Tax here.
Credit enter the current year credit allocated from a Research and
Development company. This amount represents the total new tax
Sum the amounts of credit claimed on Line 17, Line 19
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credit for this year.
and Line 21, and enter the result here. The sum cannot
exceed $2 million.
Enter the value of unused Strategic Research and
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Development Tax Credit carried forward from prior
Subtract the amount on Line 22 from the amount on
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years. [Note that credit carryovers cannot exist until TY2004].
Line 15, and enter the result here. This amount can never
be less than $0. Unused credit may be carried over for a period not
Add the amount on Line 13 and Line 14, and enter
to exceed ten years.
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the result here. This amount is the total available credit
available for use this year.
If any Strategic Research and Development Tax Credit is
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companies),
allocated to a parent company (or parent
Enter your total amount of Business Franchise Tax
enter the owner name, owner FEIN, owner share of
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liability remaining after deductions for the Subsidiary
ownership and the Strategic Researchand Development
Credit and Business and Occupation Tax Credit.
Tax Credit allocated. Sum all allocated credit amounts
and enter the amount on the Total Allocated line.
Enter the lesser of $2 million, the amount on Line 16, the
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amount on Line 15, or the amount of available credit you
wish to use to offset Business Franchise Tax here.
Subtract the amount on the Total Allocated line (from
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the Allocated to Owners section) from the amount on
Line 23.
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Enter your total amount of pre-credit Corpora-
tion Net Income Tax liability.
Recap of the use of Strategic Research and Development
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Tax Credits over the past eleven years and the total
amount to be carried over to next year.
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Rev. 9/12
Rev. 9/12
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