×
tax forms found in
Tax Form Code
Tax Form Name

Iowa Free Printable IA 133 New Jobs Tax Credit, 41-133 for 2019 Iowa New Jobs Tax Credit Worksheet 41-133

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2018-iowa-form-ia-133.pdf, and you can print it directly from your computer.

New Jobs Tax Credit Worksheet 41-133
IA 133 New Jobs Tax Credit, 41-133

2018 IA 133 Iowa New Jobs Tax Credit https://tax.iowa.gov Name(s) ________________________________________ SSN or FEIN ______________________ Pass-Through Entity (if applicable) ______________________________________________________ Pass-Through FEIN __________________________ Tax Period Ending Date __________________ Tax credit certificate number for 260E agreement with a community college ______________________ If you claimed the New Jobs Tax Credit under this agreement in a prior tax year, you are NOT eligible to claim it again for the same new jobs. Part I - Eligibility for New Jobs Tax Credit 1. Base employment level at the location with the 260E agreement ........................ 1. 2. Number of new jobs directly resulting from the project covered by the agreement for which the tax credit is being claimed from line 1 of Schedule A ... 2. 3. Number of new jobs directly related to the jobs in line 2 for which the tax credit is being claimed from line 1 of Schedule B ........................................................... 3. 4. Total new jobs claimed. Add lines 2 and 3. If partial jobs were reported, round down to the nearest whole number ............................................................ 4. 5. Total employment level in the current tax year at the location with the 260E agreement ........................................................................................................... 5. 6. Total employment gain at the location with the 260E agreement. Subtract line 1 from line 5.......................................................................................................... 6. 7. Total eligible new jobs. Enter the smaller of line 4 or line 6 .................................. 7. 8. Increased employment percentage. Divide line 7 by line 1 and round to three decimals (ex. 10.3%). If line 1 equals zero, report 10.0%. If this number is less than 10.0%, you are not eligible for the New Jobs Tax Credit for this tax year; do not claim this tax credit .................................................................................... 8. _____________ _____________ _____________ _____________ _____________ _____________ _____________ ___________ % Part II - Calculation of the New Jobs Tax Credit 9. Qualifying taxable wages for new jobs for which the tax credit is being claimed in tax year 2018. Add total qualifying taxable wages from line 2 of Schedule A and line 2 of Schedule B ...................................................................................... 9. _____________ 10. New Jobs Tax Credit. Multiply line 9 by the tax credit rate of 6% (0.06). Enter in column D of Part I on the IA 148 Tax Credits Schedule .......................... 10. ____________ Part III - Pass-through or Carryforward of the New Jobs Tax Credit 11. Pass-through New Jobs Tax Credit from partnership, LLC, S corporation, estate or trust. Enter in column D of Part I and complete Part IV on the IA 148 Tax Credits Schedule .................................................................................................. 11. ____________ 12. Carryforward of New Jobs Tax Credit from tax year 2017 under the tax credit certificate number listed above. Enter in column C of Part I on the IA 148 Tax Credits Schedule .................................................................................................. 12. ____________ IA 148 Tax Credits Schedule must be completed. 41-133a (07/09/18) 2018 IA 133, page 2 Schedule A - Employees in New Jobs Directly Resulting from the Project A Employee Name B Employee SSN C Job Title D E F Wages Paid Hours Qualifying Taxable During the Tax Share Wages: Report the Year lesser of Column D or $29,900 multiplied by Column E 1. Total New Jobs (sum column E Hours Share). Enter on line 2 of the IA 133 .... 1. _______________ 2. Total Qualifying Taxable Wages (sum column F).............................................. 2. _______________ Schedule B – Employees in New Jobs Directly Related to the New Jobs in Schedule A A B C D E F Employee Name Employee Job Title Wages Paid Hours Qualifying Taxable SSN During the Tax Share Wages: Report the Year lesser of Column D or $29,900 multiplied by Column E 1. Total New Jobs (sum column E Hours Share), Enter on line 3 of the IA 133 .... 1. _______________ 2. Total Qualifying Taxable Wages (sum column F).............................................. 2. _______________ 41-133b (07/16/18) 2018 IA 133 New Jobs Tax Credit Instructions A New Jobs Tax Credit can be claimed by a employee’s position with a new employee. The taxpayer who has entered into an Iowa new foreman’s position would be considered a Industrial New Jobs Training (260E) agreement job directly related to new jobs because it with a community college and who has directly supports the new jobs and the increased employment over the base transferred employee’s old position was filled employment level by at least 10.0%. The tax by a new employee. credit can be claimed in any tax year that either Any credit in excess of the tax liability for the tax begins or ends during the term of the 260E year may be credited to the tax liability for the agreement. However, the tax credit may not be following 10 tax years or until depleted, taken until the base employment level has been whichever is earlier. If you are only claiming a exceeded by at least 10.0%. In the case of a New Jobs Tax Credit carryforward from a prior taxpayer without a base employment level, the tax year, skip lines 1 through 11. tax credit can be claimed for all eligible new jobs for the tax year selected by the taxpayer. The A separate IA 133 must be completed for each tax credit can only be claimed once for each different 260E agreement under which a New new job. Jobs Tax Credit, new or carryforward, is claimed. Base employment level means the number of full-time jobs a business employs at the location Apportionment of Tax Credit covered by the 260E agreement on the date of If the business is a partnership, LLC, S the agreement. The number of full-time jobs is corporation, estate, or trust, the tax credit must the total number of full-time equivalent jobs be apportioned to the members. The passwhere part-time jobs are expressed as a share through entity must file the completed IA 133 of a full-time job as explained below in the with its return. On Schedule K-1 or on an instructions for Column E of Schedules A and B. attachment to Schedule K-1, report the tax In determining if the taxpayer has increased employment over the base employment level by at least 10.0%, only those new jobs directly resulting from the project covered by the agreement and those directly related to those new jobs are eligible. New jobs directly resulting from a project do not include jobs of recalled workers or replacement jobs or other jobs that formerly existed in the state. New jobs directly related to the new jobs resulting from the project means those jobs which directly support the new jobs. However, those new jobs do not include an in-state employee transferred to a position which would be considered a new job directly related to the new jobs resulting from the project unless the transferred employee’s vacant position is filled by a new employee. The burden of proof that a new job is directly related to the new jobs resulting from the project is on the taxpayer. Example: A taxpayer who has entered into a chapter 260E agreement to train new employees for a new product line transfers an in-state employee to be foreman of the new product line and fills the transferred credit for each member, including the tax credit certificate number for the 260E agreement. Instruct the members to report the apportioned tax credit on line 9 of form IA 133 and include the form with their tax returns. Also direct members to report their share of the New Jobs Tax Credit on Part I of the IA 148 Tax Credits Schedule with the tax credit certificate number assigned to the 260E agreement. Schedules A and B New Jobs Details Schedules A and B must be completed to demonstrate eligibility for the New Jobs Tax Credit. In Schedule A, provide the name, SSN, and job title for employees in the new jobs directly resulting from the project covered by the agreement. In Schedule B, provide the name, SSN, and job title for employees in the new jobs directly related to the new jobs reported in Schedule A. Complete multiple schedules if more lines are needed. Also report total wages paid to each employee during tax year 2018 in column D. Column E equals the employee’s share of hours toward a full-time job based on the average number of hours worked each week. Enter 1 if the average was 35 hours or 41-133c (07/16/18) more; enter 0.75 if the average was 25 hours or more but under 35 hours; enter 0.5 if the average was 15 hours or more but under 25 hours; enter 0.25 if the average was under 15 hours. If the employee worked full-time and was only in the job for a portion of the year, enter the share of months. For example, enter 0.5 if the employee worked 6 months; enter 0.83 if the employee worked 10 months. If the employee worked part-time for a portion of the year, multiply the two pro-rated numbers and enter to two decimal places. Column F equals qualifying taxable wages for the employees in jobs for which the taxpayer is claiming the New Jobs Tax Credit this tax year. Enter the lesser of column D or $29,900 multiplied by the hours share in column E to calculate qualifying taxable wages in column F. If the taxpayer claimed a tax credit for the job of the listed employee in a prior tax year, leave column F blank. If the taxpayer chooses to not claim a tax credit this tax year for the job of a listed employee, leave column F blank. In line 1 of each schedule, total column E including partial jobs. In line 2 of each schedule, total column F. Enter line 1 of Schedule A in line 2 of the IA 133. Enter line 1 of Schedule B in line 3 of the IA 133. Add lines 2 of Schedules A and B and enter that sum in line 9 of the IA 133. 2018 IA 133 Line Instructions Provide your name, SSN or FEIN, and tax period ending date. Also report the tax credit certificate issued with the 260E agreement. Line 2: Number of new jobs claimed Report the number of new jobs in line 1 of Schedule A on the IA 133; add additional schedules if more than fifteen employees. Report the sum with partial jobs if applicable. Line 3: Number of jobs directly related to the new jobs claimed Report the number of jobs directly related to the new jobs in line 1 of Schedule B on the IA 133; add additional schedules if more than six employees. Report the sum with partial jobs if applicable. Line 4: Total new jobs claimed Add lines 2 and 3. If partial jobs were reported, round down to the nearest whole number. The 2018 IA 133 Instructions, page 4 credit can only be claimed for full-time jobs or an aggregation of part-time jobs that equal a fulltime job. Line 9: Qualifying taxable wages For 2018, qualifying taxable wages are the first $29,900 paid to employees in new jobs or in jobs directly related to those new jobs, pro-rated by the average hours worked. For 2018, $29,900 is the amount of taxable wages on which an employer is required to pay unemployment taxes. If the taxpayer is a C corporation, the amount in line 10 of this form must be placed in column D of Part I on the IA 148 Tax Credits Schedule; use tax credit code 08 in column A. Enter the tax credit certificate number awarded with the 260E agreement in column B. Use the IA 148 Tax Credits Schedule to determine the allowable credit that can be claimed in the current tax year and any carryforward. Any carryforward from prior year(s) claimed under the same 260E contract must be reported in line 12 of this form and placed in column C of the same line on the IA 148. If the taxpayer is only reporting carryforward, skip lines 1 through 11. If the taxpayer has received any new passthrough New Jobs Tax Credit from a partnership, LLC, S corporation, estate, or trust, indicate that amount on line 11 of this form. Also enter the amount in column D of Part I on the IA 148 Tax Credits Schedule. If you have a carryforward tax credit received from a pass-through in a prior tax year, indicate that amount on line 12 of this form. Also enter the amount in column C of Part I on the IA 148 Tax Credits Schedule. For either a new claim or carryforward claim, use tax credit code 08 in column A and report the 260E certificate number in column B. Provide the pass-through name in column M and FEIN in column N of Part IV on the IA 148 Tax Credits Schedule as well as on the top of this form. File a separate IA 133 for each pass-through New Jobs Tax Credit received. Also list the claims separately on Part I of the IA 148 Tax Credits Schedule with each tax credit certificate number and provide each pass-through name and FEIN in Part IV. Include this form and the IA 148 with your IA1040, IA 1041, or IA 1120. 41-133d (11/02/18)
Extracted from PDF file 2018-iowa-form-ia-133.pdf, last modified August 2016

More about the Iowa Form IA 133 Corporate Income Tax Tax Credit TY 2018

We last updated the New Jobs Tax Credit Worksheet 41-133 in January 2019, so this is the latest version of Form IA 133, fully updated for tax year 2018. You can download or print current or past-year PDFs of Form IA 133 directly from TaxFormFinder. You can print other Iowa tax forms here.

Other Iowa Corporate Income Tax Forms:

TaxFormFinder has an additional 43 Iowa income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form IA 130 Out-of-State Tax Credit 41-130
Form IA 1041 Fiduciary Return 63-001
Form IA 1065 Iowa Partnership Return of Income 41-016
Form IA 1120 Iowa Corporation Income Tax Return
Form IA 1041 Instructions Fiduciary Tax Return Instructions 63-002

Download all IA tax forms View all 44 Iowa Income Tax Forms


Form Sources:

Iowa usually releases forms for the current tax year between January and April. We last updated Iowa Form IA 133 from the Department of Revenue in January 2019.

Show Sources >

Form IA 133 is an Iowa 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 Iowa Form IA 133

We have a total of eight past-year versions of Form IA 133 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2018 Form IA 133

IA 133 New Jobs Tax Credit, 41-133

2017 Form IA 133

IA 133 New Jobs Tax Credit, 41-133

2016 Form IA 133

IA 133 New Jobs Tax Credit, 41-133

New Jobs Tax Credit Worksheet 41-133 2015 Form IA 133

IA 1040 Iowa Individual Income Tax Form

New Jobs Tax Credit Worksheet 41-133 2014 Form IA 133

2014 IA 133, New Jobs Tax Credit Worksheet

New Jobs Credit Worksheet 41-133 2013 Form IA 133

Iowa income tax new jobs credit form

2012 Form IA 133

Iowa income tax new jobs credit form

2011 Form IA 133

Iowa income tax new jobs credit form


TaxFormFinder Disclaimer:

While we do our best to keep our list of Iowa 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/iowa/form-ia-133