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Idaho Free Printable Form 68, Broadband Equipment Investment Credit and Instructions 2019 for 2020 Idaho Idaho Broadband Equipment Investment Credit

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Idaho Broadband Equipment Investment Credit
Form 68, Broadband Equipment Investment Credit and Instructions 2019

Form 68 Broadband Equipment Investment Credit Names as shown on return 2019 Social Security number or EIN Credit Available Subject to Limitation  1. Amount of qualified investments in broadband equipment acquired during the tax year and approved by the Idaho Public Utilities Commission (PUC). Include a complete list and approval from the Idaho PUC ..................................................................................................... 1 2. Credit earned. Multiply line 1 by 3% ......................................................................................... 2 3. Pass-through share of credit from an S corporation, partnership, trust or estate ...................... 3 4. Credit received through unitary sharing. Include a schedule ...................................................... 4 5. Credit received by transfer. Include Idaho Statement of Credit Transfer, Form 70 ..................... 5 6. Carryover of broadband equipment investment credit from prior years ...................................... 6 7. Carryover eliminated due to recapture in 2019. Enter the amount from Form 68R, line 13. Include Form 68R ....................................................................................................................... 7 8. Credit distributed to shareholders, partners or beneficiaries ..................................................... 8 9. Credit shared with unitary affiliates ............................................................................................. 9 10. Credit transferred to another taxpayer. Include Form 70 ............................................................ 10 11. Total credit available subject to limitations. Add lines 2 through 6, then subtract lines 7 through 10 .................................................................................................. 11 Credit Limitation 12. Enter the Idaho income tax from your tax return ......................................................................... 12 13. a. Credit for income tax paid to other states .............................................. 13a b. Credit for contributions to Idaho educational entities ............................. 13b c. Investment tax credit .............................................................................. 13c d. Credit for contributions to Idaho youth and rehabilitation facilities ......... 13d e. Credit for production equipment using post-consumer waste ................ 13e f. Promoter-sponsored event credit ........................................................... 13f g. Credit for Idaho research activities ......................................................... 13g h. Add lines 13a through 13g .................................................................................................... 13h 14. Net income tax after other credits. Subtract line 13h from line 12 .............................................. 14 15. Credit allowable subject to limitation of tax. Enter the smaller of: a. the amount from line 11 or b. $750,000 ............................................................................................................................... 15 16. Broadband equipment investment credit allowed. Enter the smaller amount from line 14 or line 15 here and on Form 44, Part I, line 5 .................................................................. 16 Credit Carryover 17. Total credit available subject to limitations. Enter the amount from line 11 ................................ 17 18. Broadband equipment investment credit allowed. Enter the amount from line 16 ............................. 18 19. Credit carryover to future years. Subtract line 18 from line 17. Enter the amount here and on Form 44, Part I, line 5 ..................................................................................................... 19 EFO00038 06-25-2019  Form 68 — Instructions Broadband Equipment Investment Credit General Instructions Use Form 68 to calculate the broadband equipment investment credit earned or allowed. Each member of a unitary group who earns or is allowed the credit must complete a separate Form 68. Qualifying Property You must obtain an order from the Idaho Public Utilities Commission (PUC) confirming that your installed equipment is qualified broadband equipment. Qualified broadband equipment is equipment that qualifies for the investment tax credit and is capable of transmitting signals at a rate of at least 200,000 bits per second to a subscriber and at least 125,000 bits per second from a subscriber. Also, specific requirements must be met by: • telecommunications carriers • commercial mobile service carriers • cable or open video system operators • satellite or wireless carriers • packet switching equipment and • multiplexing and demultiplexing equipment The equipment must be used primarily to provide services to public subscribers in Idaho. Unitary Sharing A corporation included as a member of a unitary group of corporations may elect to share the broadband equipment investment credit it earns but doesn’t use with other members of the unitary group. The corporation must claim the broadband equipment investment credit to the extent allowable against its Idaho income tax before it can share the credit. Transfer of Credit A taxpayer who earns the broadband equipment investment credit and an intermediary may transfer the credit to another taxpayer. The transferor must submit Form 70, Idaho Statement of Credit Transfer, to the Tax Commission at least 60 days before the date of transfer. The Tax Commission will verify the amount of credit available for transfer and the number of carryover years. The transferee may first claim the transferred credit on the income tax return originally filed during the calendar year the transfer takes place. However, the EIN00081 06-25-2019  credit can’t be claimed on a tax return that begins before January 1, 2001. The transferee must include a copy of Form 70 with each income tax return the credit is claimed or carried over on. Carryover Periods The credit carryover is limited to 14 tax years. A transferee is entitled to the same carryover period that would have been allowed to the transferor. Specific Instructions Instructions are for lines not fully explained on the form. Credit Available Subject to Limitation Line 1. Include a list of all property you acquired during the tax year you’re claiming the broadband equipment investment credit for. The list should identify each piece of equipment, your basis in the item and the date placed in service. Don’t include any equipment that was disposed of, that ceased to qualify or that was moved from Idaho before the end of the year. Also include the approval from the Idaho PUC that confirms the installed equipment is qualified broadband equipment. Line 3. Enter the amount of broadband equipment investment credit that’s being passed to you from partnerships, S corporations, estates or trusts you have an interest in. This amount is from Form ID K-1, Part VII, line 46. Line 4. If you’re a member of a unitary group of corporations, enter the amount of credit you received from another member of the unitary group. Line 5. If you received credit as a result of a transfer from another taxpayer, enter the amount of credit you received. Include a copy of Form 70. Line 6. Enter the carryover from your 2018 Form 68, line 19. Line 8. If you’re an S corporation, partnership, trust or estate, enter the amount of credit that passed through to partners, shareholders or beneficiaries. Line 9. If you’re a member of a unitary group of corporations, enter the amount of credit you earned that you elect to share with other members of your unitary group. Before you can share your credit, you Page 1 of 2 Form 68 — Instructions must use the credit up to the allowable limitation of your Idaho income tax. Corporations claiming the broadband equipment investment credit must provide a calculation of the credit earned and used by each member of the combined group. The schedule must clearly identify shared credit and the computation of any credit carryovers. Line 10. If you transferred credit to another taxpayer, enter the amount of credit you transferred. You can only transfer credit that you originally earned, unless you’re an intermediary. Credit Limitations The Idaho broadband equipment credit is limited to the smaller of $750,000 or the Idaho income tax after allowing all other tax credits that can be claimed before it. 2019 (continued) Line 13a. Enter the credit for income tax paid to other states from Form 39R, Form 39NR or Form 66, page 2. This credit is available only to individuals, estates and trusts. Line 13b. Enter the credit for contributions to Idaho educational entities from the appropriate Idaho income tax return. Line 13c. Enter the investment tax credit allowed from Form 49, Part II, line 8. Line 13d. Enter the credit for contributions to Idaho youth and rehabilitation facilities from the appropriate Idaho income tax return. Line 13e. Enter the credit for production equipment using post-consumer waste from the appropriate Idaho income tax return. The following credits must be applied to the tax before the broadband equipment investment credit: 1. Credit for income tax paid to other states 2. Credit for contributions to Idaho educational entities Line 13f. Enter the promoter-sponsored event credit from the appropriate Idaho income tax return. Line 13g. Enter the credit allowed for Idaho research activities from Form 67, line 29. Line 16. Enter the smaller amount from lines 14 or 15 on line 16. Enter this amount on Form 44, Part I, line 5, in the Credit Allowed column. 3. Investment tax credit 4. Credit for contributions to Idaho youth and rehabilitation facilities Credit Carryover 5. Credit for production equipment using post-consumer waste 6. Promoter-sponsored event credit 7. Credit for Idaho research activities Line 12. Enter the amount of your Idaho income tax. This is the computed tax before subtracting any credits or adding the permanent building fund tax or any other taxes. Line 19. The amount of credit available that exceeds the total credit allowed on the current year tax return may be carried forward up to 14 tax years. Enter this amount on Form 44, Part I, line 5 in the Carryover column. Contact us: In the Boise area: (208) 334-7660 | Toll free: (800) 972-7660 Hearing impaired (TDD) (800) 377-3529 tax.idaho.gov/contact EIN00081 06-25-2019  Page 2 of 2
Extracted from PDF file 2019-idaho-form-68.pdf, last modified October 2019

More about the Idaho FORM 68 Corporate Income Tax Tax Credit TY 2019

We last updated the Idaho Broadband Equipment Investment Credit in March 2020, so this is the latest version of FORM 68, fully updated for tax year 2019. You can download or print current or past-year PDFs of FORM 68 directly from TaxFormFinder. You can print other Idaho tax forms here.

Related Idaho Corporate Income Tax Forms:

TaxFormFinder has an additional 65 Idaho income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Idaho FORM 68.

Form Code Form Name
FORM 68R Recapture of Broadband Equipment Investment Credit

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 68 from the State Tax Commission in March 2020.

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FORM 68 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 68

We have a total of eight past-year versions of FORM 68 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 FORM 68

Form 68, Broadband Equipment Investment Credit and Instructions 2019

2017 FORM 68

Form 68 - Idaho Broadband Equipment Investment Credit

2016 FORM 68

Form 68 - Idaho Broadband Equipment Investment Credit 2016


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