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Idaho Free Printable Form 83R, Recapture of Idaho Small Employer Investment Tax Credit and Instructions for 2020 Idaho Recapture of Idaho Small Employer Investment Tax Credit

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Recapture of Idaho Small Employer Investment Tax Credit
Form 83R, Recapture of Idaho Small Employer Investment Tax Credit and Instructions

Form 83R Recapture of Idaho Small Employer Investment Tax Credit Names as shown on return Social Security number or EIN Identify Property That No Longer Qualifies as Idaho Small Employer Investment Tax Credit Property Properties Property Description (include a schedule) Part I — A B C D E Part II — Original Idaho Small Employer Investment Tax Credit A Properties C B D E 1.Date property placed in service ........................................ 1 2.Cost or other basis ..................... 2 3.Credit percentage ....................... 3 3.75% 3.75% 3.75% 3.75% 4. Original credit. Multiply line 2 by line 3 ...................................... 4 5.Date property ceased to qualify ..................................... 5 6.Number of full years between the date on line 1 and the date on line 5 .............................. 6 Part III — Computation of Recapture Tax 7.Recapture percentage from table in instructions .................... 7 8.Tentative recapture tax. Multiply line 4 by line 7 .............. 8 9.Add line 8, columns A through E ........................................................................................................ 9 10.Pass-through share of credit recapture from S corporations, partnerships, trusts or estates ............ 10 11.Add lines 9 and 10 ............................................................................................................................. 11 12.Credit recapture distributed to shareholders, partners or beneficiaries ............................................. 12 13.Enter the portion of original credit not used to offset any tax. Don’t enter more than line 11. The amount on this line reduces the carryover available to the current year .................................... 13 14.Add lines 12 and 13 ........................................................................................................................... 14 15.Recapture of small employer investment tax credit. Subtract line 14 from line 11. Enter here and on Form 44, Part II, line 3. Don’t use this amount to reduce the current year’s small employer investment tax credit computed on Form 83 ............................................................. 15 EFO00012 06-11-2019 3.75% Form 83R — Instructions Recapture of Idaho Small Employer Investment Tax Credit General Instructions Use Form 83R to compute the increase in tax and reduction to credit carryover for the recapture of the small employer investment tax credit (SE-ITC). additional Form 83R or other schedule with the same information as required on Form 83R if you have SE-ITC recapture on more than five items. If you claimed the SE-ITC in an earlier year and don’t meet the tax incentive criteria you certified to on Idaho Form 89SE, you must recapture all the SE-ITC claimed in the earlier years. Part II — Original Idaho Small Employer Investment Tax Credit S corporations, partnerships, trusts and estates that have credit subject to recapture must complete lines 1 through 9 to determine the amount of credit recapture. Recompute the credit if you earned it in an earlier year but disposed of the property before the end of the five-year recapture period. Also, recompute the credit on any property that no longer qualifies as SE-ITC property. Property moved from Idaho within the first five years no longer qualifies as SE-ITC property and is subject to recapture. Shareholders, partners and beneficiaries will use the information provided by the S corporation, partnership, trust or estate to report their pass-through share of the credit to be recaptured on line 10. If the only recapture you’re reporting is from a pass-through entity, skip lines 1 through 9 and begin on line 10. Recapture may be necessary when: • An S corporation shareholder’s interest is reduced by a sale, redemption or other disposition of the shareholder’s stock or by the corporation’s issuance of more shares. • A partner’s proportionate interest in the general profits of the partnership (or in a particular item of property) is reduced. • A trust’s, estate’s or beneficiary’s proportionate interest in the income of the trust or estate is reduced. S corporations, partnerships, trusts and estates that pass through SE-ITC to the shareholders, partners or beneficiaries must provide Form ID K-1 reporting the recapture amount and including in Part X, Supplemental Information, details on the years the credit being recaptured was originally earned. Add any tax owed from recapture of credits claimed in prior years to the tax otherwise determined in the year of recapture. Recapture of credits not claimed in prior years reduces the amount of credit carryover available to the current year. Specific Instructions Instructions are for lines not fully explained on the form. Part I — Identify Property That No Longer Qualifies as Idaho Small Employer Investment Tax Credit Property Describe the property you must recompute the SE-ITC for. Fill in lines 1 through 8 in Parts II and III for each property you’re recomputing the credit on. Use a separate column for each item. Use an EIN00089 06-11-2019  Line 1. Enter the month, day and year that the property was placed in service. Line 2. Enter the cost or other basis of the property used to compute the original SE-ITC. Line 4. Multiply line 2 by line 3 to compute the credit originally earned for each property listed. Line 5. Enter the month, day and year the property ceased to qualify as SE-ITC property. Line 6. Don’t enter partial years. If the property was held less than 12 months, enter zero. If you didn’t meet the tax incentive criteria, enter zero. Part III — Computation of Recapture Tax Line 7. Enter the appropriate recapture percentage from the following table. If the number of full years on Form 83R, line 6 is ... Then the recapture percentage is... 0 1 2 3 4 5 or more 100 80 60 40 20 0 Line 9. Add all amounts on line 8. If you’ve used more than one Form 83R or separate sheets to list additional items you computed an increase in tax on, write to the left of the entry space “Tax from attached” and the total tax from the separate sheets. Include the amount in the total for line 9. Page 1 of 2 Form 83R — Instructions (continued) Line 10. Enter the amount of recapture of SE-ITC that’s being passed to you from S corporations, partnerships, trusts and estates. This amount is reported on Form ID K-1, Part VII, line 52. Line 13. If you didn’t use all of the credit you originally computed either in the year earned or in a carryover year, you won’t have to pay tax from recapture of the amount of the credit you didn’t use. Include on line 10 any recapture that’s necessary because of: Compute the unused portion of the original credit from Form 83R, line 4 or that was passed through to you from an S corporation, partnership, trust or estate on a separate sheet and enter the amount on this line. Don’t enter more than the tax from recapture on line 11. • A reduction of a shareholder’s proportionate stock interest in an S corporation • A reduction in the interest in the general profits of a partnership or • A reduction in the proportionate interest in the income of a trust or estate Line 11. Add lines 9 and 10 to determine the amount of credit subject to recapture. Line 15. This is the total increase in tax. Enter it on this line and on Form 44, Part II, line 3. Don’t use this amount to reduce your current year’s SE-ITC from Form 83. Line 12. If you’re an S corporation, partnership, trust or estate, enter the amount of credit recapture that passed through to shareholders, partners or beneficiaries. Don’t include any recapture on this line for shareholders, partners or beneficiaries you’re paying the tax for. Contact us: In the Boise area: (208) 334-7660 | Toll free: (800) 972-7660 Hearing impaired (TDD) (800) 377-3529 tax.idaho.gov/contact EIN00089 06-11-2019  Page 2 of 2
Extracted from PDF file 2019-idaho-form-83r.pdf, last modified September 2019

More about the Idaho FORM 83R Corporate Income Tax Tax Credit TY 2019

We last updated the Recapture of Idaho Small Employer Investment Tax Credit in March 2020, so this is the latest version of FORM 83R, fully updated for tax year 2019. You can download or print current or past-year PDFs of FORM 83R 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 83R from the State Tax Commission in March 2020.

Show Sources >

FORM 83R 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 83R

We have a total of eight past-year versions of FORM 83R in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 FORM 83R

Form 83R, Recapture of Idaho Small Employer Investment Tax Credit and Instructions

2017 FORM 83R

Form 83R - Recapture of Idaho Small Employer Investment Tax Credit 2016

2016 FORM 83R

Form 83R - Recapture of Idaho Small Employer Investment Tax Credit 2016


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