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Idaho Free Printable Form 49C, Investment Tax Credit Carryover and Instructions 2019 for 2020 Idaho Idaho Investment Tax Credit Carryover

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Idaho Investment Tax Credit Carryover
Form 49C, Investment Tax Credit Carryover and Instructions 2019

Form 49C Investment Tax Credit Carryover  2005 2006 2007 2008 2019 2009 2010 2011 1. Credit earned .................. 2. Allowed/used in 2005 ..... 3. Recaptured in 2005 ........ 4. Allowed/used in 2006 ..... 5. Recaptured in 2006 ........ 6. Allowed/used in 2007 ..... 7. Recaptured in 2007 ........ 8. Allowed/used in 2008 ..... 9. Recaptured in 2008 ........ 10. Allowed/used in 2009 ..... 11. Recaptured in 2009 ........ 12. Allowed/used in 2010 ..... 13. Recaptured in 2010 ........ 14. Allowed/used in 2011 ..... 15. Recaptured in 2011 ........ 16. Allowed/used in 2012 ..... 17. Recaptured in 2012 ........ 18. Allowed/used in 2013 ..... 19. Recaptured in 2013 ........ 20. Allowed/used in 2014 ..... 21. Recaptured in 2014 ........ 22. Allowed/used in 2015 ..... 23. Recaptured in 2015 ........ 24. Allowed/used in 2016 ..... 25. Recaptured in 2016 ........ 26. Allowed/used in 2017 ..... 27. Recaptured in 2017 ........ 28. Allowed/used in 2018 ..... 29. Recaptured in 2018 ........ 30. Recaptured in 2019 ........ 31. In each column, add lines 2 through 30 ........... 32. In each column, subtract line 31 from line 1 ........... 33. Total all columns for line 32 on this page and enter the amount. Carry the amount to Page 2, line 34 ........ EFO00047 08-26-2019 Page 1 of 2 Form 49C  2012 2013 2014 2015 2016 2019 2017 (continued) 2018 1. Credit earned .................. 16. Allowed/used in 2012 ...... 17. Recaptured in 2012 ........ 18. Allowed/used in 2013 ...... 19. Recaptured in 2013 ........ 20. Allowed/used in 2014 ...... 21. Recaptured in 2014 ........ 22. Allowed/used in 2015 ...... 23. Recaptured in 2015 ........ 24. Allowed/used in 2016 ...... 25. Recaptured in 2016 ........ 26. Allowed/used in 2017 ...... 27. Recaptured in 2017 ........ 28. Allowed/used in 2018 ...... 29. Recaptured in 2018 ........ 30. Recaptured in 2019 ........ 31. In each column, add lines 16 through 30 ......... 32. In each column, subtract line 31 from line 1 ........... 33. Total all columns for line 32 on this page and enter the amount ............................................................... 34. Enter the amount from Page 1, line 33 ................................................................................................... 35. Carryover to 2019. Add lines 33 and 34. Carry the amount to Form 49, Part I, line 5 ................................ EFO00047 08-26-2019 Page 2 of 2 Form 49C — Instructions Investment Tax Credit Carryover General Instructions Specific Instructions Complete this form if an investment tax credit (ITC) carryover is included in the current year’s available credit. Once you complete Form 49C, carry the amount to Form 49. Carryover Period You can carry the credit forward up to the next 14 tax years. Application of Credit You must use the oldest available credit before you use credit earned in the current year. Property moved from Idaho within the first five years no longer qualifies as ITC property and is subject to recapture. Unitary Taxpayers Any member of a unitary combined group of corporations can claim the credit carried forward as long as the member who earned the credit is still in the combined group for the year the credit is claimed. Line 1. For each year, enter the credit earned in that tax year. Don’t include any carryover amounts. Line 2, 4, 6, 8, 10, 12, 14, 16, 18, 20, 22, 24, 26 and 28. For each year, enter the amount of: • Credit allowed against tax • Credit you earned that was shared with another member of the unitary group and • Credit that passed through to an owner or beneficiary Lines 3, 5, 7, 9, 11, 13, 15, 17, 19, 21, 23, 25, 27, 29 and 30. For each year, enter the credit recaptured. You must recompute the credit if you disposed of the property or the property ceased to qualify before the end of the 5-year recapture period. This includes 100% of the credit for property used less than a full year. Conversion of a C Corporation to S Corporation The S corporation can claim the credit carryover against the S corporation’s tax on net recognized built-in gains and excess net passive income. The credit isn’t allowed against the tax paid by an S corporation for nonresident shareholders. You should use a separate Form 49C for the credit carryover. Use of Other Schedules If this form doesn’t allow you to properly reflect the application of carryovers and recapture, provide the information on a separate schedule. Contact us: In the Boise area: (208) 334-7660 | Toll free: (800) 972-7660 Hearing impaired (TDD) (800) 377-3529 tax.idaho.gov/contact EIN00078 08-26-2019  2019
Extracted from PDF file 2019-idaho-form-49c.pdf, last modified October 2019

More about the Idaho FORM 49C Corporate Income Tax Tax Credit TY 2019

We last updated the Idaho Investment Tax Credit Carryover in March 2020, so this is the latest version of FORM 49C, fully updated for tax year 2019. You can download or print current or past-year PDFs of FORM 49C 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 49C from the State Tax Commission in March 2020.

Show Sources >

FORM 49C 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 49C

We have a total of eight past-year versions of FORM 49C in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 FORM 49C

Form 49C, Investment Tax Credit Carryover and Instructions 2019

2017 FORM 49C

Form 49C - Idaho Investment Tax Credit Carryover

2016 FORM 49C

Form 49C - Idaho Investment Tax Credit Carryover 2016


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