Wisconsin Enterprise Zone Jobs Credit
Extracted from PDF file 2019-wisconsin-schedule-ec.pdf, last modified September 2015
Enterprise Zone Jobs CreditSave Tab to navigate within form. Use mouse to check applicable boxes, press spacebar or press Enter. Schedule EC Wisconsin Department of Revenue Print Enterprise Zone Jobs Credit 2019 File with Wisconsin Form 1, 1NPR, 2, 3, 4, 4T, 5S, or 6 Read instructions before filling in this schedule Name Clear Identifying Number Round Amounts to Nearest Dollar 1 Fill in the enterprise zone jobs credit certified to you by the Wisconsin Economic Development Corporation. Include WEDC certification/verification . . . . . . . . . . . . . . 1 .00 2 Enterprise zone jobs credit passed through from other entities: 2a Entity Name Amount 2a .00 Amount 2b .00 2c Total pass through credits from additional schedule. 2c .00 FEIN 2b Entity Name FEIN 2d Total credits (add lines 2a through 2c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2d .00 3 Add lines 1 and 2d. This is your 2019 enterprise zone jobs credit . . . . . . . . . . . . . . . . . 3 .00 3a Fiduciaries - enter the amount of credit allocated to beneficiaries . . . . . . . . . . . . . . . . . 3a .00 3b Fiduciaries - subtract line 3a from line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3b .00 Instructions for 2019 Schedule EC Purpose of Schedule EC Who is Eligible to Claim the Credit Use Schedule EC to claim the enterprise zone jobs credit, which is available to qualifying taxpayers doing business in a Wisconsin enterprise zone designated by the Wisconsin Economic Development Corporation (WEDC). Taxpayers may claim the credit based on job creation, job retention, capital investment, training and supply chain purchases. Any individual, estate, trust, partnership, limited liability company (LLC), corporation, or tax-exempt organization that is conducting business in an enterprise zone and has been certified by the WEDC may be eligible for the credit. To be eligible for the enterprise zone jobs credit, businesses must first be certified by the WEDC. For information regarding how to become certified, visit the WEDC website at inwisconsin.com or call 1-855-469-4249. IC-067 (R. 9-19) Partnerships, LLCs treated as partnerships, and tax-option (S) corporations cannot claim the credits, but the credits attributable to the entity’s business operations pass through to the partners, members, or shareholders. Go to Page 2 2019 Schedule EC Caution • The credit you compute on Schedule EC is income and must be reported on your Wisconsin franchise or income tax return in the year computed. • The enterprise zone jobs credit is not allowable for expenditures which are included in the basis for another Wisconsin income or franchise tax credit, such as the research expense credit. • If you recklessly or fraudulently claim a false credit, you may be ineligible to claim it for up to 10 years and you may owe a penalty. See pages 24 and 25 of Wisconsin Tax Bulletin #180 for further details. Specific Instructions Line 1: Fill in the total amount of enterprise zone jobs credit certified to you by the WEDC, as computed by the WEDC. Line 2: If applicable, fill in the entity name, Federal Employer Identification Number (FEIN), and the amount of enterprise zone jobs credit passed through from tax-option (S) corporations (from Schedule 5K‑1), partnerships and LLCs treated as partnerships (from Schedule 3K‑1), and estates and trusts (from Schedule 2K‑1). Line 3: Add lines 1 and 2d. This is the total current year enterprise zone jobs credit. Enter the amount of credit from line 3 on the appropriate line of Schedule CR. See the following exceptions: • If the claimant is a combined group member, enter the amount of credit on Form 6, Part III, line 13 instead of Schedule CR. Applicable Laws and Rules This document provides statements or interpretations of the following provisions of Wisconsin Statutes in effect as of September 1, 2019: Sections 71.07(3w), 71.28(3w), 71.47(3w), and 238.399, Wis. Stats. Laws enacted and in effect after September 1, 2019, new administrative rules, and court decisions may change the interpretations in this document. Guidance issued prior to September 1, 2019, that is contrary to the information in this document is superseded by this document, pursuant to sec. 73.16(2)(a), Wis. Stats. Page 2 of 2 • Tax-option (S) corporations, partnerships, and LLCs treated as partnerships should prorate the amount of credit on line 3 among the shareholders, partners, or members based on their ownership interest. Show the credit for each shareholder on Schedule 5K‑1 and for each partner or member on Schedule 3K‑1. • Fiduciaries who file Form 2 must complete lines 3a and 3b. Line 3a: Fiduciaries – Prorate the credit from line 3 between the entity and its beneficiaries in proportion to the income allocable to each. Show the beneficiaries’ portion of the credit on line 3a. Show the credit for each beneficiary on Schedule 2K‑1. Line 3b: Fiduciaries – Subtract line 3a from line 3. This is the estate’s or trust’s portion of the credit. Enter the amount of credit from line 3b on the appropriate line of Schedule CR. Required Attachments to Return You must include the following information with your Wisconsin franchise or income tax return: • Schedule EC • A copy of your certification to claim tax benefits issued by WEDC. • Verification of expenses from WEDC. Exception for shareholders, partners, members, and beneficiaries: If the credit is received from a tax-option (S) corporation, partnership, LLC treated as a partnership, estate, or trust, include a copy of Schedule 5K-1, 3K-1, or 2K-1 with Schedule EC instead of the certification to claim tax benefits and verification of expenses. Additional Information For more information, you may: • E-mail your question to [email protected] • Call (608) 266‑2772 [TTY: Call the Wisconsin Telecommunications Relay System at 711. If no answer, dial 1‑800‑947‑3529] • Send a FAX to (608) 267‑0834 • Write to the Audit Bureau, Wisconsin Department of Revenue, Mail Stop 3-107, PO Box 8906, Madison, WI 53708-8906. Return to Page 1
2019 IC-067 Schedule EC Enterprise Zone Jobs Credit and Instructions (fillable)
More about the Wisconsin Schedule EC Corporate Income Tax Tax Credit TY 2019
We last updated the Enterprise Zone Jobs Credit in March 2020, so this is the latest version of Schedule EC, fully updated for tax year 2019. You can download or print current or past-year PDFs of Schedule EC directly from TaxFormFinder. You can print other Wisconsin tax forms here.
Other Wisconsin Corporate Income Tax Forms:
|Form Code||Form Name|
|Schedule CC||Request for a Closing Certificate for Fiduciaries|
|Schedule WD (Form 2)||Capital Gains and Losses|
|Form 4||Wisconsin Non-Combined Corporation Franchise or Income Tax Return|
|Form 2||Wisconsin Fiduciary Income Tax for Estates or Trusts|
|Schedule 3K-1||Partner's Share of Income, Deductions, Credits, etc|
Wisconsin usually releases forms for the current tax year between January and April. We last updated Wisconsin Schedule EC from the Department of Revenue in March 2020.
Schedule EC is a Wisconsin 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 Wisconsin Schedule EC
We have a total of eight past-year versions of Schedule EC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2019 IC-067 Schedule EC Enterprise Zone Jobs Credit and Instructions (fillable)
2018 IC-067 Schedule EC Enterprise Zone Jobs Credit and Instructions
2017 IC-067 Schedule EC Enterprise Zone Jobs Credit and Instructions
2016 IC-067 Schedule EC Enterprise Zone Jobs Credit and Instructions (fillable)
2015 IC-067 Schedule EC Enterprise Zone Jobs Credit and Instructions (fillable)
2013 IC-067 Schedule EC Enterprise Zone Jobs Credit - 10-15-13 DRAFT
2012 IC-067 Schedule EC Enterprise Zone Jobs Credit
2011 IC-067 Schedule EC - Enterprise Zone Jobs Credit (pdf fillable format)
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