Free 2008 I-148 Instructions for 2008 Schedule CR, Wisconsin Department of Revenue - Wisconsin

Instructions for 2008 Schedule CR
Further information on these credits can be found on the schedule referred to on the applicable line of Schedule CR. For example, information on the film production services credit will be found on Schedule FP. IMPORTANT The various schedules also indicate what items must be enclosed with the tax return when claiming the credits. Be sure to enclose: · Schedule CR, · the appropriate listed schedule, and · any additional required information. For example, programs administered by the Wisconsin Department of Commerce require certification by that department before claiming credits. Such certification must be enclosed with the return. Line 11 Add the amounts on lines 1 through 10 and enter the total on line 11. Individuals ­ Enter the amount from line 11 on line 32 of Form 1 or line 58 of Form 1NPR. Estates and trusts ­ Enter the amount from line 11 on line 13 of Form 2 or line 17 of Form 4T. Enclose Schedule CR and the appropriate schedule for each credit you are claiming with your Form 1, Form 1NPR, or Form 2. Corporations ­ Enter the amount from line 11 on line 16 of Schedule CR.

B. Refundable Credits
Line 12 Enter the amount of enterprise zone jobs credit from Schedule EC, line 16. The Department of Commerce administers the enterprise zone program. Line 13 Enter the amount of dairy manufacturing facility investment credit from Schedule DM, line 7. The Department of Commerce administers the dairy manufacturing facility investment credit program. Line 14 Enter the amount of film production services credit from Schedule FP, line 10. The Department of Commerce administers the film production services credit. Line 15 Add the amounts on lines 12 through 14 and enter the total on line 15. Individuals ­ Enter the amount from line 15 on line 51 of Form 1 or line 76 of Form 1NPR. Estates and trusts ­ Enter the amount from line 15 on line 25 of Form 2 or line 28 of Form 4T. Enclose Schedule CR and the appropriate schedule for each credit you are claiming with your Form 1, Form 1NPR, or Form 2. Corporations ­ Enter the amount from line 15 on line 34 of Schedule CR.

Part I ­

Credits for Individuals, Fiduciaries, and Corporations

A. Nonrefundable Credits
Line 1 Enter the amount of film production services credit from Schedule FP, line 6. The Department of Commerce administers the film production program. Line 2 Enter the amount of manufacturer's sales tax credit carryforward from Schedule MS, line 3. Line 3 Enter the amount of manufacturing investment credit from Schedule MI, line 4. The Department of Commerce administers the manufacturing investment program. Line 4 Enter the amount of dairy and livestock farm investment credit from Schedule DI, line 9. The credit is based on amounts paid for modernization or expansion of dairy and livestock farms in Wisconsin. Line 5 Enter the amount of ethanol and biodiesel fuel pump credit from Schedule EB, line 5. This credit is based on the cost to install or retrofit pumps located in Wisconsin that dispense motor vehicle fuel consisting of at least 85% ethanol or at least 20% biodiesel fuel. Line 6 Enter the amount of development zones credit from Schedule DC, lines 7, 15, and 23. The Wisconsin Department of Commerce administers the development zones program. Line 7 Enter the amount of technology zone credit from Schedule TC, line 8. The Department of Commerce administers the technology zone program. Line 8 Only individuals may claim the angel investment credit. Enter the amount of angel investment credit from Schedule VC, line 6. The Department of Commerce administers the angel investment program. Line 9 Enter the amount of early stage seed investment credit from Schedule VC, line 12. The Department of Commerce administers the early stage seed investment program. Line 10 Enter the amount of Internet equipment credit from Schedule IE, line 5. The Department of Commerce administers the Internet equipment program.
I-148 (N. 11-08)

Part II ­ Credits for Corporations Only A. Nonrefundable Credits
Line 16 Enter the amount, if any, from line 11 of Schedule CR. Line 17 Enter the amount of film production investment credit from Schedule FP, line 16. The Department of Commerce administers the film production investment credit. Line 18 Enter the amount of health insurance risk-sharing plan assessments credit from Schedule HI, line 4. Line 19 Enter the amount of research expense credit from Schedule R, line 30. Corporations that increase qualified research expenses in Wisconsin may claim a credit. Lines 20 and 21 Enter the increased credits from Schedules R-1 and R-2, line 29. Corporations that increase qualified research expenses in Wisconsin attributable to certain activities may claim the increased research credits. These activities include qualified research related to internal combustion engines and qualified research related to certain energy efficient products. Line 22 Enter the amount of development zones research credit carryforward. Line 23 Enter the research facilities credit from Schedule R, line 34. Corporations that incur expenses to construct and equip new research facilities in Wisconsin or to expand existing facilities in Wisconsin may claim a credit.
Wisconsin Department of Revenue

Lines 24 and 25 Enter the increased research facilities credits from Schedules R-1 and R-2, line 33. Corporations that incur expenses to construct and equip new research facilities in Wisconsin for certain research activities may claim the increased research credits. These activities include qualified research related to internal combustion engines and qualified research related to certain energy efficient products. Line 26 Enter the available community development finance credit. Corporations that make contributions to the Wisconsin Housing and Economic Development Authority and, in the same year, purchase common stock in the Wisconsin Community Development Finance Company may claim a credit. The credit is nonrefundable and is equal to 75% of the purchase price of the stock, but may not exceed 75% of the amount that was contributed to the Wisconsin Community Development Finance Authority. Any unused credit may be offset against tax liabilities of the subsequent years, up to 15 years. Line 27 Enter the amount of development zones jobs credit carryforward. Line 28 Enter the amount of development zones sales tax credit carryforward. Line 29 Enter the amount of development zones location credit carryforward. Line 30 Enter the amount of development zones day care credit carryforward. Line 31 Enter the amount of development zones environmental remediation credit carryforward. Line 32 Enter the amount of supplement to the federal historical rehabilitation tax credit from Schedule HR, line 7. Corporations that rehabilitate certified historic structures located in Wisconsin and used for business purposes may claim a credit. The Wisconsin Historical Society administers the historic preservation program. Line 33 Add lines 16 through 32. This is the total available nonrefundable credits. Enter the total on line 33 and on line 15 of Form 4, line 17 of Form 4I, line 9 of Form 4T, or line 9 of Form 5. Enclose Schedule CR and the appropriate schedule for each credit you are claiming.

Individuals, Fiduciaries, and Corporations
For purposes of determining the carryover (if any) of each nonrefundable credit, the credit must be applied against gross tax in the order indicated below. Individuals and Fiduciaries Credits are to be applied in the order shown on lines 1-10 of Schedule CR. Corporations Credits are to be applied in the following order: 1. Manufacturer's sales tax credit carryforward 2. Manufacturing investment credit 3. Dairy and livestock farm investment credit 4. Research expense credits 5. Development zones research credit carryforward 6. Research facilities credit 7. Health insurance risk-sharing plan assessments credit 8. Community development finance credit 9. Development zones jobs credit carryforward 10. Development zones sales tax credit carryforward 11. Ethanol and biodiesel fuel pump credit 12. Development zones investment credit, including development opportunity zone investment credit 13. Development zones location credit carryforward 14. Development opportunity zone or agricultural or airport development zone capital investment credit 15. Development zones day care credit carryforward 16. Development zones environmental remediation credit carryforward 17. Development zones credit 18. Technology zone credit 19. Early stage seed investment credit 20. Supplement to federal historic rehabilitation tax credit 21. Film production investment credit 22. Film production services credit 23. Internet equipment credit

B. Refundable Credits
Line 34 ule CR. Enter the amount, if any, from line 15 of Sched-

Line 35 Enter the farmland preservation credit from Schedule FC, line 18. Corporations organized under the laws of Wisconsin that own and operate Wisconsin farmland subject to agricultural use restrictions in the form of a zoning ordinance or a farmland preservation agreement, as provided in Chapter 91, Wis. Stats., may claim a credit. Line 36 Enter the farmland tax relief credit from Schedule FT, line 6. Corporations organized under the laws of Wisconsin that own farmland located in Wisconsin may claim a credit. Line 37 Add lines 34 through 36. This is the total available refundable credits. Enter the total on line 37 and on line 23 of Form 4, line 25 of Form 4I, line 28 of Form 4T, or line 17 of Form 5. Enclose Schedule CR and the appropriate schedule for each credit you are claiming.
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