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Schedule 5922 - Financial Services Development Credit Schedule - State Of Vermont - 2003 Page 3

VT 2003 Financial Services Development Credit

Financial Services Development Credit for Current Year

for Partners, Members, Shareholders, or Beneficiaries

The following information is to be completed by the entity before passing ONLY this sheet

on to each partner, member, shareholder or beneficiary.

5. Has the qualified entity (person) ceased to employ in Vermont, for at least 120 consecutive days or more,

at least 65% of the number of employees in Vermont as of the year a tax credit was taken under this

statute? (32 V.S.A. 5922)

Yes

(If you answer "yes" to this question you may not claim additional Financial Services Development Credits. You may also be required to repay

a portion of the credits taken pursuant to the recapture provisions of 32 V.S.A. 5922(e).)

Entity Name:

VBA:

Taxpayer's Name:

SSN:

6. Gross income from all VT sources (enter from line 1b):

7. Available percentage (enter from distribution determination):

8. Asset Apportioned Ratio (enter from line 2c):

9. Payroll Apportioned Ratio (enter from line 3c):

10. Distributed income (multiply line 6 by line 7):

The following is to be completed by the partner, member, shareholder or beneficiary

to calculate their portion of the Financial Services Development Credit to be claimed

for the current year on their Vermont Income Tax Return (VT Form IN-111). This sheet

must be completed and a copy attached to the VT Form IN-111 and VT Form 112.

11. Enter amount from line 10, Section 2, VT Form IN-111:

12. Enter amount from line 22, Section 4, VT Form IN-111:

13. Divide line 12 by line 11 times line 10.

14. Multiply line 13 by line 8:

15. Multiply line 14 by line 9:

16. Credit (before application of any limitations)(line 15)

17. Credit: enter lesser of line 10 or 75% of line 16.

Amount of Financial Services Development credit available this year: $

(Enter on Line 4, Section D, VT Form IN-112)

Schedule 5922(PT)(1203)

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Schedule 5922 - Financial Services Development Credit Schedule - State Of Vermont - 2003 Page 3