Illinois Free Printable 2016 Schedule 1299-D, Income Tax Credits (for corporations and fiduciaries) for 2017 Illinois Income Tax Credits -for corporations and fiduciaries)

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2016-illinois-schedule-1299-d.pdf, and you can print it directly from your computer.

Income Tax Credits -for corporations and fiduciaries)
2016 Schedule 1299-D, Income Tax Credits (for corporations and fiduciaries)

Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes. Illinois Department of Revenue Year ending 2016 Schedule 1299-D Income Tax Credits Attach to your Form IL-1120, IL-1041, IL-990-T. (for corporations Enter your name as shown on your return. and fiduciaries) Month Year IL Attachment No. 3 – Enter your federal employer identification number (FEIN). Read this information before completing this schedule: What do I need to complete this Schedule? To correctly complete this 2016 Schedule 1299-D, you will need to refer to Step 3 of the 2015 Schedule 1299-D to calculate the amount of available credit carryforward that may be used on this 2016 Schedule 1299-D. You will also need all certificates issued to you from the Department of Commerce and Economic Opportunity (DCEO) or other agencies, any Schedules K-1-P issued to you by partnerships or S corporations, and any letters issued by the transferring taxpayer to the Department of Revenue documenting the sale or transfer of credits to you. See the instructions for a complete list of attachments. Step 1: Figure your credits Section A — Credits which can be carried for two years TECH-PREP Youth Vocational Programs Credit 1 Enter direct payroll expenses and amount for personal services. 1 x .20 = Dependent Care Assistance Program Credit 2 Enter the expenses for on-site dependent care. 2 x .05 = 3 Add Lines 1 and 2. Enter this amount here and in Step 2, Line 12. This is the total of your credits that can be carried for two years. 3 Section B — Credits which can be carried for five years Film Production Services Tax Credit 4 Enter the amount of available credit from the Tax Credit Certificate you received from DCEO or that was transferred to you. See instructions. Attach DCEO certificate. 4 5 Enter any distributive share of Film Production Services Tax Credit from partnerships and S corporations. Attach Schedule(s) K-1-P. 5 6 Add Lines 4 and 5. This is your Film Production Services Tax Credit. 6 Employee Child Care Tax Credit (Form IL-1120 filers only) 7 Enter the total start-up costs to provide the child care facility. x .30 = 8 Enter the annual amount paid to provide the child care facility. x .05 = 7 8 9 9 Add Lines 7 and 8. This is your total Employee Child Care Tax Credit. Enterprise Zone Investment Credit A Description of qualified property B C D E F G H Date placed in ACRS New/Used Name of zone Basis Rate Column F x Column G service in Illinois class (see instr.) Month Year 10 a / .005 a b / .005 b c / .005 c 11 Enter any distributive share of Enterprise Zone Investment Credit from partnerships and S corporations. 11 Attach Schedule(s) K-1-P. 12 Add Column H, Lines 10a through 10c, and Line 11. This is your Enterprise Zone Investment Credit. 13 Add Lines 6, 9, and 12. Enter the total here and on Page 2, Line 14. Schedule 1299-D (R-12/16) *166400001* 12 13 Page 1 of 6 14 Enter the amount from Page 1, Line 13. 14 River Edge Redevelopment Zone Investment Credit If your tax year begins on or after July 12, 2016, do not complete Lines 15a through 15c. See the instructions for more information. A B C D E F G H Description of qualified property 15 a Date placed in ACRS New/Used Name of zone Basis Rate Column F x Column G service in Illinois class (see instr.) (see instr.) Month Year b c a / / b / c 16 Enter any distributive share of River Edge Redevelopment Zone Investment Credit from partnerships and S corporations. Attach Schedule(s) K-1-P. 16 17 Add Column H, Lines 15a through 15c, and Line 16. This is your River Edge Redevelopment Zone Investment Credit. 17 High Impact Business Investment Credit A B Description of qualified property C D E Date placed in ACRS New/Used service in Illinois class (see instructions) Month Year F Name of zone G Basis Column F x .5% (.005) 18 a / a b / b c / c 19 Add Column G, Lines 18a through 18c. This is your High Impact Business Investment Credit. 19 Tax Credit for Affordable Housing Donations x .50 = 20 20 Enter the total amount of your donation to eligible sponsors here. Attach a copy of proof of the credit issued by the Illinois Housing Development Authority or the city of Chicago. 21 Enter any distributive share of Tax Credit for Affordable Housing Donations from partnerships and 21 S corporations or transferred to you by the donor. Attach Schedule(s) K-1-P. 22 Add Lines 20 and 21. This is your Tax Credit for Affordable Housing Donations. 22 Economic Development for a Growing Economy (EDGE) Tax Credit 23 Enter the amount of EDGE Tax Credit awarded to you for this tax year under your agreement with DCEO. Attach DCEO certificate. 23 24 Enter any distributive share of EDGE Tax Credit from partnerships and S corporations. Attach Sch. K-1-P. 24 25 Add Lines 23 and 24. This is your EDGE Tax Credit. 25 River Edge Redevelopment Zone Remediation Credit If your tax year begins on or after July 12, 2016, do not complete Lines 26a through 28. See the instructions for more information. A B C D Total unreimbursed remediation costs in excess of $100,000 Rate Column B x Column C Name of Zone 26 a 25% (.25) a b 25% (.25) c 25% (.25) Attach a copy of the certification issued by the Illinois Environmental Protection Agency. b c 27 Enter the amount of River Edge Redevelopment Zone Remediation Credit transferred to you. Attach a copy of the letter the seller issued to the Illinois Department of Revenue. 27 28 Add Column D, Lines 26a through 26c, and Line 27. This is your total River Edge Redevelopment Zone Remediation Credit. 29 Add Lines 14, 17, 19, 22, 25, and 28. Enter the total here and on Page 3, Line 30. Schedule 1299-D (R-12/16) *166400002* 28 29 Page 2 of 6 30 Enter the amount from Page 2, Line 29. 30 Ex-Felons Jobs Credit A B Name SSN C D Date hired Qualified wages E F G H Col. D Max credit Prior x 5% (.05) amount credit Col. F minus Col. G 31 a / $1,500 a b / $1,500 b c / $1,500 c I Enter the lesser of Column E or H 32 Enter any distributive share of Ex-Felons Jobs Credit from partnerships and S corporations. Attach Schedule(s) K-1-P. 32 33 Add Column I, Lines 31a through 31c and Line 32. This is your total Ex-Felons Jobs Credit. 33 Veterans Jobs Credit See specific instructions before completing. If your tax year ends after December 31, 2016, do not complete Lines 34a through 34c. See the instructions for more information. A B C D E F Qualified Name SSN wages 34 a b c Column C x 20% (.20) Max credit amount $5,000 a $5,000 b $5,000 c 35 Enter any distributive share of Veterans Jobs Credit from partnerships and S corporations. Attach Schedule(s) K-1-P. 36 Add Column F, Lines 34a through 34c and Line 35. This is your total Veterans Jobs Credit. Enter the lesser of Column D or E 35 36 Student-Assistance Contribution Credit A B Name C SSN Qualified contribution amount D Column C x 25% (.25) E F Max credit amount Enter the lesser of Column D or E 37 a $500 a b $500 c $500 c 38 Enter any distributive share of Student-Assistance Contribution Credit from partnerships and S corporations. Attach Schedule(s) K-1-P. 39 Add Column F, Lines 37a through 37c and Line 38. This is your total Student-Assistance Contribution Credit. b 38 39 Angel Investment Credit If your tax year ends after December 31, 2016, enter zero on Line 40. See the instructions for more information. 40 Enter the amount of available credit from the Tax Credit Certificate you received from the DCEO. Attach DCEO certificate. 41 Enter any distributive share of Angel Investment Credit from partnerships and S corporations. Attach Schedule(s) K-1-P. 42 Add Lines 40 and 41. This is your Angel Investment Credit. 40 41 42 New Markets Credit 43 Enter the amount of available credit from the Tax Credit Certificate you received from the DCEO. Attach DCEO certificate. 43 44 Enter any distributive share of New Markets Credit from partnerships and S corporations. Attach Schedule(s) K-1-P. 44 45 Add Lines 43 and 44. This is your New Markets Credit. 46 Add Lines 30, 33, 36, 39, 42, and 45. Enter the total here and on Page 4, Line 47. Schedule 1299-D (R-12/16) *166400003* 45 46 Page 3 of 6 47 Enter the amount from Page 3, Line 46. 47 River Edge Historic Preservation Credit 48 Enter the amount of available credit from the Tax Credit Certificate you received from the DCEO. Attach DCEO certificate. 48 49 Enter any distributive share of River Edge Historic Preservation Credit from partnerships and S corporations. Attach Schedule(s) K-1-P. 50 Add Lines 48 and 49. This is your River Edge Historic Preservation Credit. 49 50 Live Theater Production Tax Credit If your tax year begins on or after June 1, 2017, enter zero on Line 51. See the instructions for more information. 51 Enter the amount of available credit from the Tax Credit Certificate you received from the DCEO or the amount transferred to you. Attach DCEO certificate. 51 52 Enter any distributive share of Live Theater Production Tax Credit from partnerships and S corporations. Attach Schedule(s) K-1-P. 53 Add Lines 51 and 52. This is your Live Theater Production Tax Credit. 52 53 Hospital Credit If your tax year begins on or after June 14, 2017, • enter zero on Lines 54 through 58, and • include on Line 59 only the portion which was distributed to you on Schedule K-1-P. Do not include any amount sold or donated to you. See the instructions for more information. 54 Enter the amount of real property taxes paid during the tax year on Illinois real property used for hospital purposes during the prior tax year. 54 55 Enter the cost of free or discounted services provided at Illinois locations during the tax year pursuant to the hospital’s charitable financial assistance policy, measured at cost. 56 Enter the lesser of Line 54 or Line 55. This is your Hospital Credit before transfers. 57 Enter any amount of the credit on Line 56 you have transferred or intend to transfer. Attach a written notice of the transfer. See instructions. 58 Subtract Line 57 from Line 56. This amount cannot be less than zero. 55 56 57 58 59 Enter any distributive share of Hospital Credit from partnerships and S corporations or any amount transferred to you. Attach Schedule(s) K-1-P or a copy of the notice of transfer the seller or donator issued to the Illinois Department of Revenue. 60 Add Lines 58 and 59. This is your Hospital Credit. 59 60 Total five-year credits 61 Add Lines 47, 50, 53, and 60. Enter this amount on Step 2, Line 20. Schedule 1299-D (R-12/16) *166400004* 61 Page 4 of 6 Step 2: Figure your credit (See instructions before completing this Step.) All line references in this step refer to Step 2 of this Schedule 1299-D, unless otherwise noted. 1 Enter your total tax (see instructions). 1 2 Enter the amount of foreign tax credit from Form IL-1041, Schedule CR, Line 59 (Form IL-1041 filers only). 2 3 Enter the amount from 2015 Schedule 1299-D, Step 3, Line 1. 4 Subtract Line 4 from Line 3. This amount may be negative. 5 Enter the amount from 2015 Schedule 1299-D, Step 3, Line 2. 6 If Line 5 is negative, enter the amount from Line 6 as a negative number. Otherwise, subtract Line 6 from Line 5. 7 3 Subtract Line 2 from Line 1. If the amount is zero or negative, enter zero. 4 5 6 7 8 Enter the amount from 2015 Schedule 1299-D, Step 3, Line 3. 9 10 11 12 13 14 15 8 If Line 7 is negative, enter the amount from Line 8 as a negative number. Otherwise, subtract Line 8 from Line 7. 9 Enter the amount from 2015 Schedule 1299-D, Step 3, Line 4. 10 If Line 9 is negative, enter the amount from Line 10 as a negative number. Otherwise, subtract Line 10 from Line 9. 11 Enter the amount from Step 1, Section A, Line 3, of this Schedule 1299-D. 12 If Line 11 is negative, enter the amount from Line 12 as a negative number. Otherwise, subtract Line 12 from Line 11. 13 Enter the amount from 2015 Schedule 1299-D, Step 3, Line 5. 14 If Line 13 is negative, enter the amount from Line 14 as a negative number. Otherwise, subtract Line 14 from Line 13. 15 16 Enter the amount from 2015 Schedule 1299-D, Step 3, Line 6. 16 17 If Line 15 is negative, enter the amount from Line 16 as a negative number. Otherwise, subtract Line 16 from Line 15. 17 18 Enter the amount from 2015 Schedule 1299-D, Step 3, Line 7. 18 19 If Line 17 is negative, enter the amount from Line 18 as a negative number. Otherwise, subtract Line 18 from Line 17. 19 20 Enter the amount from Step 1, Section B, Line 61, of this Schedule 1299-D. 20 21 If Line 19 is negative, enter the amount from Line 20 as a negative number. Otherwise, subtract Line 20 from Line 19. 21 22 Enter the amount from 2015 Schedule 1299-D, Step 3, Line 8. 22 23 If Line 21 is negative, enter the amount from Line 22 as a negative number. Otherwise, subtract Line 22 from Line 21. 23 24 Enter the amount from 2015 Schedule 1299-D, Step 3, Line 9. 24 25 If Line 23 is negative, enter the amount from Line 24 as a negative number. Otherwise, subtract Line 24 from Line 23. 25 26 Enter the amount from 2015 Schedule 1299-D, Step 3, Line 10. 26 27 If Line 25 is negative, enter the amount from Line 26 as a negative number. Otherwise, subtract Line 26 from Line 25. 27 28 28 Enter the amount from 2015 Schedule 1299-D, Step 3, Line 11. 29 If Line 27 is negative, enter the amount from Line 28 as a negative number. Otherwise, subtract Line 28 from Line 27. 29 30 Enter the amount from 2015 Schedule 1299-D, Step 3, Line 12. 30 31 If Line 29 is negative, enter the amount from Line 30 as a negative number. Otherwise, subtract Line 30 from Line 29. 31 32 Figure the amount of credit to use this year. If the lesser number is negative, enter zero. a Enter the lesser of Step 2, Line 3 or Line 4. a b Enter the lesser of Step 2, Line 5 or Line 6. b c Enter the lesser of Step 2, Line 7 or Line 8. c d Enter the lesser of Step 2, Line 9 or Line 10. d e Enter the lesser of Step 2, Line 11 or Line 12. e f Enter the lesser of Step 2, Line 13 or Line 14. f g Enter the lesser of Step 2, Line 15 or Line 16. g h Enter the lesser of Step 2, Line 17 or Line 18. h i Enter the lesser of Step 2, Line 19 or Line 20. i j Enter the lesser of Step 2, Line 21 or Line 22. j k Enter the lesser of Step 2, Line 23 or Line 24. k l Enter the lesser of Step 2, Line 25 or Line 26. l m Enter the lesser of Step 2, Line 27 or Line 28. m n Enter the lesser of Step 2, Line 29 or Line 30. n 33 Add Lines 32a through 32n. Enter the result here and on your Form IL-1120, Line 48, IL-1041, Line 46, or IL-990-T, Line 22. Schedule 1299-D (R-12/16) *166400005* 33 Page 5 of 6 Step 3: Figure your credit available to be carried forward Retain a copy of this page in your files. You will need this to complete next year’s Illinois Schedule 1299-D. To figure each credit amount, STOP at the first applicable line for each credit. 1 All line references in this step refer to Step 2 of this Illinois Schedule 1299-D. Two-year credit carryforward that is available for one more tax year. • If Line 9 is positive or zero, enter zero here. You do not have any credit from this year to carry. • If Line 7 is negative, enter the amount from Line 8 here. • If Line 9 is negative, enter that amount as a positive number here. 1 2 Five-year credit carryforward that is available for one more tax year. • If Line 11 is positive or zero, enter zero here. You do not have any credit from this year to carry. • If Line 9 is negative, enter the amount from Line 10 here. • If Line 11 is negative, enter that amount as a positive number here. 2 3 4 Two-year credit carryforward that is available for the next two tax years. • If Line 13 is positive or zero, enter zero here. You do not have any credit from this year to carry. • If Line 11 is negative, enter the amount from Line 12 here. • If Line 13 is negative, enter that amount as a positive number here. 3 Five-year credit carryforward that is available for the next two tax years. • If Line 15 is positive or zero, enter zero here. You do not have any credit from this year to carry. • If Line 13 is negative, enter the amount from Line 14 here. • If Line 15 is negative, enter that amount as a positive number here. 4 5 Five-year credit carryforward that is available for the next three tax years. • If Line 17 is positive or zero, enter zero here. You do not have any credit from this year to carry. • If Line 15 is negative, enter the amount from Line 16 here. 5 • If Line 17 is negative, enter that amount as a positive number here. 6 Five-year credit carryforward that is available for the next four tax years. • If Line 19 is positive or zero, enter zero here. You do not have any credit from this year to carry. • If Line 17 is negative, enter the amount from Line 18 here. • If Line 19 is negative, enter that amount as a positive number here. 6 7 Five-year credit carryforward that is available for the next five tax years. • If Line 21 is positive or zero, enter zero here. You do not have any credit from this year to carry. • If Line 19 is negative, enter the amount from Line 20 here. • If Line 21 is negative, enter that amount as a positive number here. 7 8 Ten-year credit carryforward that is available for the next five tax years. • If Line 23 is positive or zero, enter zero here. You do not have any credit from this year to carry. • If Line 21 is negative, enter the amount from Line 22 here. • If Line 23 is negative, enter that amount as a positive number here. 8 9 Ten-year credit carryforward that is available for the next six tax years. • If Line 25 is positive or zero, enter zero here. You do not have any credit from this year to carry. • If Line 23 is negative, enter the amount from Line 24 here. • If Line 25 is negative, enter that amount as a positive number here. 9 10 Ten-year credit carryforward that is available for the next seven tax years. • If Line 27 is positive or zero, enter zero here. You do not have any credit from this year to carry. • If Line 25 is negative, enter the amount from Line 26 here. • If Line 27 is negative, enter that amount as a positive number here. 10 11 Ten-year credit carryforward that is available for the next eight tax years. • If Line 29 is positive or zero, enter zero here. You do not have any credit from this year to carry. • If Line 27 is negative, enter the amount from Line 28 here. • If Line 29 is negative, enter that amount as a positive number here. 11 12 Ten-year credit carryforward that is available for the next nine tax years. • If Line 31 is positive or zero, enter zero here. You do not have any credit from this year to carry. • If Line 29 is negative, enter the amount from Line 30 here. • If Line 31 is negative, enter that amount as a positive number here. 12 *166400006* Reset Schedule 1299-D (R-12/16) Print This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this information is REQUIRED. Failure to provide information could result in a penalty. Page 6 of 6
Extracted from PDF file 2016-illinois-schedule-1299-d.pdf, last modified January 2017

More about the Illinois Schedule 1299-D Corporate Income Tax Tax Credit TY 2016

We last updated the Income Tax Credits -for corporations and fiduciaries) in February 2017, so this is the latest version of Schedule 1299-D, fully updated for tax year 2016. You can download or print current or past-year PDFs of Schedule 1299-D directly from TaxFormFinder. You can print other Illinois tax forms here.

Other Illinois Corporate Income Tax Forms:

TaxFormFinder has an additional 75 Illinois income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form IL-1120-V Payment Voucher for Corporation Income and Replacement Tax
Form IL-1120-ST-V Payment Voucher for Small Business Corporation Replacement Tax
Form IL-1120 Corporation Income and Replacement Tax Return
Form IL-1120-ES 2016 Estimated Income and Replacement Tax Payments for Corporations
Form IL-1041-V Payment Voucher for Fiduciary Income and Replacement Tax

Download all IL tax forms View all 76 Illinois Income Tax Forms


Form Sources:

Illinois usually releases forms for the current tax year between January and April. We last updated Illinois Schedule 1299-D from the Department of Revenue in February 2017.

Show Sources >

Schedule 1299-D is an Illinois 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 Illinois Schedule 1299-D

We have a total of three past-year versions of Schedule 1299-D in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2016 Schedule 1299-D

2016 Schedule 1299-D, Income Tax Credits (for corporations and fiduciaries)

Income Tax Credits -for corporations and fiduciaries) 2015 Schedule 1299-D

2015 Schedule 1299-D, Income Tax Credits (for corporations and fiduciaries)

2014 Schedule 1299-D 2014 Schedule 1299-D

2014, Schedule 1299-D - Income Tax Credits


TaxFormFinder Disclaimer:

While we do our best to keep our list of Illinois 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.

** This Document Provided By TaxFormFinder.org **
Source: http://www.taxformfinder.org/illinois/schedule-1299-d