Delaware Delaware Income Tax Credit Schedule
Extracted from PDF file 2019-delaware-form-700.pdf, last modified December 2017
Delaware Income Tax Credit ScheduleDELAWARE INCOME TAX CREDIT SCHEDULE DELAWARE DIVISION OF REVENUE FORM 700 820 North French St. PO Box 8763 Wilmington, DE 19899-8763 Page 1 PART A – TAXPAYER INFORMATION Social Security Number Federal Employer Identification Number 1- OR Reset Tax Period Ending Print Form MM DD YY 2- PART B – DELAWARE INCOME TAX CREDIT COMPUTATION Taxpayer Name Non-refundable Income Tax Credits Please see instructions and worksheets on how to calculate each applicable tax credit. On each line below, please enter the amount of approved or calculated tax credit. A. Neighborhood Assistance Credit (30 Del. C. § 2001-2008) Applications for this credit must be submitted to the Delaware State Housing Authority for approval in advance. 1. Credit carryover from previous years 2. Current year approved credit (50% of investment, up to $50,000/year) 3. Total Neighborhood Assistance Credits (Add line 1 and line 2) B. Economic Development Credits §§ 2010-2015 4. Credit carryover from previous years 5. Current year approved credit (complete form 1100CR to compute the credit) 6. Total Economic Development Credits (Add line 4 and line 5) C. Green Industries/Brownfield Credits §§2020-2024, 2040 7. Credit carryover from previous years 8. Current year approved credit 9. Total Green Industries/Brownfield Credits (Add line 7 and line 8) D. Research and Development Credits (Tax Years before 2018) §§ 2070-2075 10. Credit carryover from the previous years E. Land and Historic Resources Conservation Credits §§1801-1807 11. Credit carryover from previous years 12. Current year approved credit 13. Total Land and Historic Resources Conservation Credits (Add line 11 and line 12) Revision 1.0 (2019-02-06) *DF30419019999* DF30419019999 DELAWARE DIVISION OF REVENUE FORM 700 820 North French St. PO Box 8763 Wilmington, DE 19899-8763 F. DELAWARE INCOME TAX CREDIT SCHEDULE Page 2 Historic Preservation Credits §§1112, 1811-181 Applications for this credit must be submitted to the Historic Preservation Office for approval in advance. 14. Credit carryover from previous years 15. Current year approved credit (50% of investment, up to $50,000/year) 16. Total Historic Preservation Credits (Add line 14 and line 15) G. Automatic External Defibrillators 17. Enter the number of automatic external defibrillators placed in service during the tax year 18. Total Automatic External Defibrillator Credit (Multiply line 17 by $100) H. Total Delaware Non-refundable Income Tax Credits 19. Enter the total of lines 3, 6, 9, 10, 13, 16, and 18 I. CREDIT LIMITATION - Corporate Filers 20. Enter the amount listed on line 13 of form 1100 (DE tax) 21. Enter the total from line 19, above 22. Enter the lesser of lines 20 and 21 This is the total of the non-refundable tax credits to which the corporation is entitled; enter here and on line 14 of form 1100 J. CREDIT LIMITATION - Individual Filers 23. Enter the amount listed on line 8 of form 200-01 (DE tax) 24. Enter the total from line 19, above 25. Enter current year credits from line 23 from Delaware form 1100S-A1 (S corporation) or Delaware form 300-K1 (partnership), if any 26. Total lines 24 and 25 27. Enter the lesser of lines 23 and 26 This is the total of the non-refundable tax credits to which the taxpayer is entitled; enter here and on line 12 of form 200-01 Revision 1.0 (2019-02-06) *DF30419029999* DF30419029999 DELAWARE DIVISION OF REVENUE FORM 700 820 North French St. PO Box 8763 Wilmington, DE 19899-8763 DELAWARE INCOME TAX CREDIT SCHEDULE Page 3 K. CREDIT LIMITATION - Fiduciaries 28. Enter the amount listed on line 10 of form 400 29. Enter the total from line 19, above, for expenses incurred directly 30. Enter current year credits from line 23 of Delaware form 1100S-A1 (S corporation) or Delaware form 300-K1 (partnership) issued to the taxpayer, if any 31. Total lines 29 and 30 32. Enter the lesser of lines 28 and 31 This is the total of the non-refundable tax credits to which the taxpayer is entitled; enter here and on line 11 of form 400 L. PASS THROUGH ENTITIES - S Corporations and Partnerships 33. Enter the total from line 19, above S Corporations – enter the amount from line 33 on line 11 of form 1100-S. To the extent that the credits are to passthrough to resident shareholders, allocate the credits among the shareholders and include the credits on line 23 of form 1100S-A1. Partnerships – allocate the amount from line 33 among the partners and include the credits on line 16 of the form 300K1. Shareholders and partners to whom credits are allocated must then prepare a separate form 700 reflecting the potential credits available on line 23 of form 1100S-A1, and calculate the allowable credit based upon the taxpayer’s Delaware tax liability calculated on the taxpayer’s income tax form. M. REFUNDABLE INCOME TAX CREDITS Please see instructions and worksheets on how to calculate your tax credit. Enter on the appropriate line the amount of each calculated tax credit. 34. Business Finder’s Fee Credits 35. New Economy Jobs Program Credits 36. Veterans Opportunity Credit 37. Employer Tax Credit For Hiring Individuals with Disabilities 38. Research & Development Credits (see instructions) 39. Total Refundable Income Tax Credits (Add lines 34 through 38) Corporate Filers - Enter the amount from line 39 on line 19 of the form 1100 Pass through entities (S-Corporations and Partnerships) S-Corporations - Enter the amount from line 39 on line 12 of form 1100S and allocate the credits to shareholders on line 24 of the form 1100S-A1 Partnerships - Allocate the amount from line 39 among the partners and report the amount on line 16 of the form 300-K1 provided to the partners Fiduciary Filers - Enter the amount from line 39 on line 17 of form 400 Individual Tax Filers - Enter the amount from line 39 on line 19 of form 200-01 (resident) or line 50 of form 200-02 (non-resident) Revision 1.0 (2019-02-06) *DF30419039999* DF30419039999
More about the Delaware Form 700 Corporate Income Tax Tax Credit TY 2019
We last updated the Delaware Income Tax Credit Schedule in March 2020, so this is the latest version of Form 700, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 700 directly from TaxFormFinder. You can print other Delaware tax forms here.
Other Delaware Corporate Income Tax Forms:
|Form Code||Form Name|
|Form 5403||Real Estate Tax Return - Declaration of Estimated Income Tax|
|Form 300||Delaware Partnership Return|
|Form 1100-EXT||Corporation Income Tax - Request For Extension|
|Form 6100||Occupancy Tax - Exemption Certificate|
|Form 300-Schedule-K1||Partners Share of Income|
Delaware usually releases forms for the current tax year between January and April. We last updated Delaware Form 700 from the Division of Revenue in March 2020.
Form 700 is a Delaware 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 Delaware Form 700
We have a total of nine past-year versions of Form 700 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 Delaware 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.