Free 2008 Schedule DC - Wisconsin Development Zones Credits (pdf fillable format) - Wisconsin

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Schedule

DC

Wisconsin Development Zones Credits
File with Wisconsin Form 1, 1NPR, 2, 3, 4, 4I, 4T, 5, or 5S Read instructions before filling in this schedule
Identifying Number

Wisconsin Department of Revenue
Name

2008
1 2 3 4 5 6 7

Part I
1 2 3 4 5 6 7 8

Development Zones Credit

Enter the development zones credit for environmental remediation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Enter the development zones credit for job creation or retention . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Add lines 1 and 2 . This is the development zones credit before pass-through credits . . . . . . . . . . . . . . . . . Enter development zones credit passed through from other entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Add lines 3 and 4 . This is your 2008 credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Carryover of unused development zones credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Add lines 5 and 6 . This is the available development zones credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Enter the purchase price of depreciable, tangible personal property purchased during the taxable year that is used in the conduct of business in an opportunity zone: a QualifiedpurchasesexpensedunderIRCsection179 . . . . . . . . . . . . . . . . . . 8a b QualifiedpurchasesnotexpensedunderIRCsection179 . . . . . . . . . . . . . . . 8b

Part II Development Opportunity Zone Investment Credit

9 Multiplyline8aby1.75%(0.0175) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 13 15

9

10 Multiplyline8bby2.5%(0.025) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Addlines9and10.Thisistheinvestmentcreditbeforepass-throughcredits . . . . . . . . . . . . . . . . . . . . . . 11 Add lines 11 and 12 . This is your 2008 credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Add lines 13 and 14 . This is the available opportunity zone investment credit . . . . . . . . . . . . . . . . . . . . . . 15 12 Enter investment credit passed through from other entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 14 Carryover of unused opportunity zone investment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

Part III
16 17

Development Opportunity Zone, Agricultural Development Zone, or Airport Development Zone Capital Investment Credit

Enter the purchase price of depreciable, tangible personal property purchased during the taxable year that is used in the conduct of business in an opportunity zone, agricultural zone, or airport zone . . . 16 Enter the amount expended during the taxable year to acquire, construct, rehabilitate, remodel, or repair real property in an opportunity zone, agricultural zone, or airport zone . . . . . . . . . . . . . . . . . . . . . . . 17

18 Addlines16and17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 19 Multiplyline18by3%(0.03).Thisisthecapitalinvestmentcreditbeforepass-throughcredits . . . . . . . . . 19 20 21 23 Enter capital investment credit passed through from other entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Addlines19and20.Thisisyour2008credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Add lines 21 and 22 . This is the available capital investment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

22 Carryover of unused capital investment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

Part IV Recapture of Investment Credit Properties
24 25 26 27 28 29 30 31 32 33 34
IC-032

Enterkindofproperty(attachseparateschedulesifmore spaceisneeded) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Date property was placed in service . . . . . . . . . . . . . . . . . . . . . . . 25 Original estimated useful life or recovery period . . . . . . . . . . . . . 26 Original credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Datepropertyceasedtobequalifiedinvestmentcreditproperty . 28 Number of full years between the dates on lines 25 and 28 . . . . . 29 Recapturepercentage(frominstructions) . . . . . . . . . . . . . . . . . . 30 Multiplyline27bythepercentageonline30 . . . . . . . . . . . . . . . . 31

A

B

C

Add line 31, columns A through C, plus any amounts from separate schedules . . . . . . . . . . . . . . . . . . . . . . . 32 Portionoforiginalcredit(line27)notusedtooffsettaxinanyyear,plusanycarryforwardofcredits you can now apply to the original credit year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 Subtract line 33 from line 32 . This is the total increase in tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34