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Idaho Free Printable Form 44, Business Income Tax Credits and Credit Recapture and Instructions 2019 for 2020 Idaho Business Income Tax Credits and Credit Recapture

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Business Income Tax Credits and Credit Recapture
Form 44, Business Income Tax Credits and Credit Recapture and Instructions 2019

Form 44 Business Income Tax Credits and Credit Recapture Names as shown on return 2019 Social Security number or EIN Part I — Business Income Tax Credits Credit Allowed Carryover 1. Investment tax credit. Include Form 49 ........................................... ▪ 1 ▪ 2. Credit for production equipment using post-consumer waste ......... ▪ 2 ▪ 3. Promoter-sponsored event credit .................................................... ▪ 3 4. Credit for Idaho research activities. Include Form 67 ...................... ▪ 4 ▪ 5. Broadband equipment investment credit. Include Form 68 ............. ▪ 5 ▪ 6. Small employer investment tax credit. Include Form 83 .................. ▪ 6 ▪ 7. Small employer real property improvement tax credit. Include Form 84 ............................................................................... ▪ 7 ▪ 8. Small employer new jobs tax credit. Include Form 85 ..................... ▪ 8 ▪ 9. Total business income tax credits allowed. Add lines 1 through 8 ... ▪ 9 Part II — Tax from Recapture of Business Income Tax Credits Tax from recapture of: 1. Investment tax credit. Include Form 49R .................................................................... ▪ 1 2. Broadband equipment investment credit. Include Form 68R ...................................... ▪ 2 3. Small employer investment tax credit. Include Form 83R ........................................... ▪ 3 4. Small employer real property improvement tax credit. Include Form 84R .................. ▪ 4 5. Small employer new jobs tax credit. Include Form 85R .............................................. ▪ 5 6. Total tax from recapture of business income tax credits. Add lines 1 through 5 ......... ▪ 6 EFO00006 04-25-2019 Form 44 — Instructions Business Income Tax Credits and Credit Recapture Part I of Form 44 provides a list of the Idaho business credits allowed and the credit carryover amounts. Part II of Form 44 provides a list of the tax from recapture of income tax credits. You must include Form 44 with your return if you’re claiming any business income tax credits or have any tax from recapture of income tax credits. Forms 41 and 41S Carry the total of the business income tax credits allowed and the tax from recapture of income tax credits to Form 41. If the S corporation pays the tax for one or more nonresident individual shareholders, carry those shareholders’ proportionate share of the total business income tax credits and tax from recapture of income tax credits to Form 41S. Don’t enter the total credit or tax from recapture if the S corporation isn’t paying the tax for all the shareholders. You can use credits earned by a C corporation before becoming an S corporation to offset any tax on excess net passive income or net recognized built-in gains, subject to the credit limitations. Include a schedule showing the application of the credit carryovers to the S corporation’s tax. Form 65 If the partnership pays the tax for one or more nonresident individual partners, those partners’ distributive share of the total business credits and tax from recapture of income tax credits is carried to the Form 65. Don’t include the total credit or tax from recapture if the partnership isn’t paying the tax for all the partners. Part I — Business Income Tax Credits Part I has two columns: the Credit Allowed column for the amount of credit allowed for the tax year and the Carryover column for the amount of carryover that exists at the end of the tax year. If the corporation files a combined return, the following credits can be shared with members of the combined group rather than carried forward to future years: • Investment tax credit • Credit for Idaho research activities • Broadband equipment investment credit • Small employer income tax credits EIN00097 11-07-2019  2019 The corporation that earned the credit must claim the credit to the extent allowable against its tax liability before sharing the credit with other members. A corporation that receives the credit through unitary sharing computes the applicable limitations based on its tax. Any unused credit remains with the member that earned the credit. Include a schedule identifying the member earning the credit and the members using the credit. The broadband equipment investment credit can be transferred to another taxpayer rather than used by the taxpayer who earns the credit. To claim a credit you acquired through a transfer, include a copy of the Form 70, Statement of Credit Transfer with each return you’re claiming transferred credit on. Line 1 Investment Tax Credit (ITC) If you acquire an asset for use in your business, you may have earned an ITC. Credit Allowed. Enter the credit allowed from Form 49, Part II, line 8. Carryover. Enter the credit available minus the credit allowed: Form 49, Part II, line 7 minus line 8. Line 2 Credit for Production Equipment Using Post-consumer Waste If you bought equipment that manufactures a product from post-consumer or post-industrial waste, you may be eligible for a tax credit. The credit is 20% of your cost to buy qualified equipment. Qualified equipment is machinery or equipment in Idaho with a useful life of three years or more. In addition, 90% of the equipment’s production must result in products using post-consumer or post-industrial waste. Product is any manufactured material that’s composed of at least 50% of post-consumer or post-industrial waste and offered for sale. Product doesn’t include shredded material unless it’s incorporated directly into the manufacturing process. Post-consumer or post-industrial waste includes only glass, paper or plastic that has been or would have been disposed of as solid waste. It doesn’t include radioactive or hazardous waste. Include a schedule showing your computations, listing the qualified equipment, identifying the post-consumer or post-industrial waste products and identifying the newly manufactured products. Page 1 of 3 Form 44 — Instructions (continued) Credit Allowed. Enter the smallest of: • $30,000 • 20% of the cost to purchase qualified equipment plus the amount of credit carried forward or • Tax Available: ‚ If filing Form 41, the tax on line 38 minus the amounts on lines 39, 40 and Form 44, Part I, line 1 ‚ If filing Form 41S, the tax on line 43 minus the amounts on lines 44, 45 and Form 44, Part I, line 1 ‚ If filing Form 65, the tax on line 41 less the amounts on lines 42, 43 and Form 44, Part I, line 1 ‚ If filing Form 66, the tax on line 10 minus the amounts on Schedule C, lines 2, 3 and 4 and Form 44, Part I, line 1 Carryover. Enter the amount of credit available minus the amount allowed. Include a schedule showing your computations. You may carry forward the unused portion of the credit up to seven years. Line 3 Promoter-sponsored Event Credit If you issued temporary sales tax permits to participants of a promoter-sponsored event on behalf of the Tax Commission, you can claim a $1 credit for each temporary permit issued during the tax year. Promoter-sponsored events include swap meets, flea markets, gun shows and fairs. You must have filed Form ST-124 with the Tax Commission to qualify for the credit. Credit allowed. Enter the smaller of: • $1 for each temporary permit issued during the tax year or • Tax Available: ‚ If filing Form 41, the tax on line 38 minus the amounts on lines 39, 40 and Form 44, Part I, lines 1 and 2 ‚ If filing Form 41S, the tax on line 43 minus the amounts on lines 44, 45 and Form 44, Part I, lines 1 and 2 ‚ If filing Form 65, the tax on line 41 less the amounts on lines 42, 43 and Form 44, Part I, lines 1 and 2 ‚ If filing Form 66, the tax on line 10 minus the amounts on Schedule C, lines 2, 3 and 4 and Form 44, Part I, lines 1 and 2 EIN00097 11-07-2019  2019 Line 4 Credit for Idaho Research Activities If you incurred expenses for research conducted in Idaho, you may have earned the credit for Idaho research activities. Credit Allowed. Enter the credit allowed from Form 67, line 29. Include Form 67. Carryover. Enter the amount of credit carryover to future years from Form 67, line 30. Line 5 Broadband Equipment Investment Credit If you acquired qualified broadband equipment to use in your Idaho business, you may qualify for the broadband equipment investment credit. You may also claim this credit if you acquired the credit through a transfer. Credit Allowed. Enter the credit allowed from Form 68, line 18. Include Form 68. Carryover. Enter the amount of credit carryover to future years from Form 68, line 19. Line 6 Small Employer Investment Tax Credit You can claim this credit if you’ve certified by filing Form 89SE that you’ve met or will meet the tax incentive criteria for this credit and you’ve acquired an asset for use in your business that otherwise qualifies for the ITC. Credit Allowed. Enter the credit allowed from Form 83, line 28. Include Form 83. Carryover. Enter the amount of credit carryover to future years from Form 83, line 29. Line 7 Small Employer Real Property Improvement Tax Credit You can claim this credit if you’ve certified by filing Form 89SE that you’ve met or will meet the tax incentive criteria for this credit and you’ve acquired real property improvements for use in your business at the project site during the project period. Credit Allowed. Enter the credit allowed from Form 84, line 26. Include Form 84. Carryover. Enter the amount of credit carryover to future years from Form 84, line 27. Line 8 Small Employer New Jobs Tax Credit You can claim this credit if you’ve certified by filing Form 89SE that you’ve met or will meet the tax incentive criteria for this credit and you have qualified new employees at the project site during the project period. Page 2 of 3 Form 44 — Instructions (continued) Credit Allowed. Enter the credit allowed from Form 85, line 35. Include Form 85. Carryover. Enter the amount of credit carryover to future years from Form 85, line 36. Part II — Tax From Recapture of Income Tax Credits Line 1 Tax From Recapture of ITC If you’ve claimed an ITC on property that no longer qualifies before the end of the five-year recapture period, you must compute the ITC recapture. This includes property moved outside of Idaho. Enter the amount from Form 49R, Part III, line 15. Include Form 49R. Line 2 Tax From Recapture of Broadband Equipment Investment Credit If you’ve claimed a broadband equipment investment credit on property that no longer qualifies before the end of the five-year recapture period, you must compute the broadband equipment investment credit recapture. This includes property that no longer qualifies for the ITC. Enter the amount from Form 68R, Part III, line 15. Include Form 68R. 2019 Line 4 Tax From Recapture of Small Employer Real Property Improvement Tax Credit If you’ve claimed a small employer real property improvement tax credit on property that no longer qualifies before the end of the five-year recapture period, you must compute the small employer real property improvement tax credit recapture. You also must compute recapture if you didn’t meet the tax incentive criteria required to qualify for this credit at the project site during the project period. Enter the amount from Form 84R, Part III, line 15. Include Form 84R. Line 5 Tax From Recapture of Small Employer New Jobs Tax Credit If you’ve claimed a small employer new jobs tax credit and you didn’t maintain the required level of new employees for the entire five-year recapture period, you must compute the small employer new jobs tax credit recapture. You also must compute recapture if you didn’t meet the tax incentive criteria required to qualify for this credit at the project site during the project period. Enter the amount from Form 85R, line 13. Include Form 85R. Line 3 Tax From Recapture of Small Employer Investment Tax Credit If you’ve claimed a small employer investment tax credit on property that no longer qualifies before the end of the five-year recapture period, you must compute the small employer investment tax credit recapture. This includes property moved outside of Idaho. You also must compute recapture if you didn’t meet the tax incentive criteria required to qualify for this credit at the project site during the project period. Enter the amount from Form 83R, Part III, line 15. Include Form 83R. Contact us: In the Boise area: (208) 334-7660 | Toll free: (800) 972-7660 Hearing impaired (TDD) (800) 377-3529 tax.idaho.gov/contact EIN00097 11-07-2019  Page 3 of 3
Extracted from PDF file 2019-idaho-form-44.pdf, last modified September 2019

More about the Idaho FORM 44 Corporate Income Tax Tax Credit TY 2019

We last updated the Business Income Tax Credits and Credit Recapture in March 2020, so this is the latest version of FORM 44, fully updated for tax year 2019. You can download or print current or past-year PDFs of FORM 44 directly from TaxFormFinder. You can print other Idaho tax forms here.

Other Idaho Corporate Income Tax Forms:

TaxFormFinder has an additional 65 Idaho income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
FORM 41 Idaho Corporation Income Tax Return
FORM 56 Idaho Net Operating Loss
FORM 42 Idaho Apportionment And Combined Reporting Adjustments
FORM PTE-12 Idaho Schedule For Pass-Through Owners with Instructions
FORM 66 Idaho Fiduciary Income Tax

Download all ID tax forms View all 66 Idaho Income Tax Forms


Form Sources:

Idaho usually releases forms for the current tax year between January and April. We last updated Idaho FORM 44 from the State Tax Commission in March 2020.

Show Sources >

FORM 44 is an Idaho 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 Idaho FORM 44

We have a total of nine past-year versions of FORM 44 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 FORM 44

Form 44, Business Income Tax Credits and Credit Recapture and Instructions 2019

2018 FORM 44

Form 44, Business Income Tax Credits and Credit Recapture 2018

2017 FORM 44

Form 44 - Idaho Business Income Tax Credits and Credit Recapture

2016 FORM 44

Form 44 - Idaho Business Income Tax Credits and Credit Recapture


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