Arizona Recycling Equipment Credit
Extracted from PDF file 2017-arizona-form-307.pdf, last modified August 2003
Recycling Equipment CreditPrint Form Arizona Form 2017 Recycling Equipment Credit 307 Include with your return. For the calendar year 2017 or fiscal year beginning M M D D 2 0 1 7 and ending M M D D Y Y Y Y . Your Name as shown on Form 140, 140PY, 140NR, 140X Your Social Security Number Spouse’s Name as shown on Form 140, 140PY, 140NR, 140X (if a joint return) Spouse’s Social Security Number Total Available Credit Carryover (a) Taxable Year from which you are carrying the credit (b) Original Credit Amount 2002 (c) Amount Previously Used (d) Tentative Carryover Amount (e) Amount Unallowable Subtract column (e) from column (d). (See instructions) 00 00 00 (f) Available Carryover 00 00 Instructions For information or help, call one of the numbers listed: Phoenix (602) 255-3381 From area codes 520 and 928, toll-free (800) 352-4090 Tax forms, instructions, and other tax information If you need tax forms, instructions, and other tax information, go to the department’s website at www.azdor.gov. Income Tax Procedures and Rulings These instructions may refer to the department’s income tax procedures and rulings for more information. To view or print these, go to our website and click on Legal Research then click on Procedures or Rulings and select a tax type from the drop down menu. Publications To view or print the department’s publications, go to our website and click on Publications. General Instructions The recycling equipment credit for an individual was repealed effective for taxable years beginning from and after December 31, 2002. Individuals cannot claim any new credits. A partnership cannot generate and pass a new credit through to its individual partners. Individuals can continue to carry any unused credit forward, if the credits were claimed in taxable years beginning prior to January 1, 2003. The portion of the unused credit carryovers relating to that recycling equipment is lost if either of the following apply: • If the recycling equipment ceases to be recycling equipment; or • Is transferred to another person. The portion of the total available credit carryover that may be claimed by the individual taxpayer is limited to the smaller of the following amounts: • 25% of the amount of tax entered on Arizona Form 301, Part 2, line 41; or • $5,000. ADOR 10134 (17) NOTE: You must also complete Arizona Form 301, Nonrefundable Individual Tax Credits and Recapture, and include Forms 301 and 307 with your tax return to claim this credit. Line-by-Line Instructions Complete the name and social security number (SSN) section at the top of the form. Indicate the period covered by the taxable year. Include the completed form with the tax return. All returns, statements, and other documents filed with the department require a taxpayer identification number (TIN). The TIN for an individual is the taxpayer’s SSN or an Internal Revenue Service (IRS) individual taxpayer identification number (ITIN). Taxpayers that fail to include their identification number may be subject to a penalty. Total Available Credit Carryover Complete the table to figure your total available credit carryover from taxable year 2002. Complete this line if you claimed the credit on your tax return taxable year 2002, and your credit was more than your tax. • In column (b), enter the credit originally computed for that taxable year listed in column (a). • In column (c), enter the amount of the credit from that taxable year which you have already used. • Subtract the amount in column (c) from column (b) and enter the difference in column (d). • In column (e), enter the amount of the carryover that is unallowable because the recycling equipment ceased to be recycling equipment or the credit was transferred to another person. • Subtract the amount in column (e) from the amount in column (d) and enter the difference in column (f). Enter the amount in column (f) on Arizona Form 301, Part 1, line 4, columns (b) and (c).
Arizona Form 307
More about the Arizona Form 307 Corporate Income Tax Tax Credit
We last updated the Recycling Equipment Credit in January 2018, and the latest form we have available is for tax year 2017. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Arizona Department of Revenue. You can print other Arizona tax forms here.
Other Arizona Corporate Income Tax Forms:
|Form Code||Form Name|
|Form 323||Credit for Contributions to School Tuition Organizations|
|Form 165||Arizona Partnership Income Tax Return|
|Form 120S-K1||120S Schedule K-1 - Resident Shareholder's Information Schedule|
|Form 120A||Arizona Corporation Income Tax Return|
|Form 120EXT||Application for Automatic Extension of Time to File Corporation, Partnership, and Exempt Organization Returns|
Arizona usually releases forms for the current tax year between January and April. We last updated Arizona Form 307 from the Department of Revenue in January 2018.
Form 307 is an Arizona Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Arizona Form 307
We have a total of five past-year versions of Form 307 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
While we do our best to keep our list of Arizona Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.