Free 2008 IC-067 Schedule EC - Enterprise Zone Jobs Credit - Wisconsin

Schedule

EC

EnterpriseZoneJobsCredit
FilewithWisconsinForm1,1NPR,2,3,4,4I,4T,5,or5S
Read instructions before filling in this schedule
IdentifyingNumber

WisconsinDepartment ofRevenue
Name

2008

PartI RegularCredit
Enterbaseyear:Taxableyearbeginning / / andending / / 1 Enternumberoffull-timeWisconsinemployeesemployedintheenterprisezoneinthecurrent taxableyearwhosewagesaremorethan$30,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Enternumberoffull-timeWisconsinemployeesemployedintheenterprisezoneinthebaseyear whosewagesweremorethan$30,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 . 3 Subtractline2fromline1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Enternumberoffull-timeWisconsinemployeesinthecurrenttaxableyearwhosewagesaremore than$30,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Enternumberoffull-timeWisconsinemployeesinthebaseyearwhosewagesweremorethan $30,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 . 6 Subtractline5fromline4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Entertotalwagesattributabletoservicesperformedinanenterprisezoneincurrenttaxableyear byfull-timeWisconsinemployeeswhoseannualwagesaremorethan$30,000 .Donotinclude wagesexceeding$100,000foranyemployee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Divideline7byline1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Subtract$30,000fromamountonline8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Lesserofline3orline6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 Multiplyline9byline10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Multiplyline11by7% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

PartII Supplementalcreditforskilldevelopmentandtrainingforemployeeswhoworkinanenterprisezone
13 Enteramountpaidinthetaxableyeartoupgradeorimprovethejob-relatedskillsoffull-time employees,totrainfull-timeemployeesontheuseofnewjob-relatedtechnologies,ortoprovide job-relatedtrainingtofull-timeemployeeswhoseemploymentwiththeclaimantrepresentsthe employee'sfirstfull-timejob.Donotincludeamountsrelatingtoemployeeswhodonotwork inanenterprisezone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

14 Addlines12and13 .Thisistheenterprisezonejobscreditbeforepass-throughcredits . . . . . . . . . . . 14 15 Enterenterprisezonejobscreditpassedthroughfromotherentities . . . . . . . . . . . . . . . . . . . . . . . . . . 15 16 Addlines14and15 .Thisistheavailableenterprisezonejobscredit . . . . . . . . . . . . . . . . . . . . . . . . . 16

Instructionsfor2008ScheduleEC
PurposeofScheduleEC
UseScheduleECtoclaimtheenterprisezonejobscredit,which isavailableforqualifyingtaxpayersdoingbusinessinaWisconsin enterprise zone designated by the Wisconsin Department of Commerce . Tobeeligiblefortheenterprisezonejobscredit,businessesmust firstbecertifiedbytheDepartmentofCommerce.Forinformation regarding how to become certified, visit the Department of Commerce web site at www .commerce .wi .gov or write to the WisconsinDepartmentofCommerce,POBox7970,Madison, WI53707-7970 .
IC-067

WhoisEligibletoClaimtheCredit Anyindividual,estate,trust,partnership,limitedliabilitycompany (LLC),corporation,ortax-exemptorganizationthatisconducting business in an enterprise zone and has been certified by the DepartmentofCommercemaybeeligibleforthecredit . Partnerships,LLCstreatedaspartnerships,andtax-option(S) corporationscannotclaimthecredits,butthecreditsattributable totheentity'sbusinessoperationspassthroughtothepartners, members,orshareholders .

Caution
· · ThecredityoucomputeonScheduleECisincomeandmust bereportedonyourWisconsinfranchiseorincometaxreturn intheyearcomputed . The enterprise zone jobs credit is not allowable for expenditures which are included in the basis for another Wisconsinincomeorfranchisetaxcredit,suchastheresearch expensecredit .

Line5:Enterthetotalnumberoffull-timeWisconsinemployees inthebaseyearwhosewagesweremorethan$30,000 . Line7:Enterthetotalwagesattributabletoservicesperformed inanenterprisezoneinthetaxableyearbeginningin2008by full-timeWisconsinemployeeswhoseannualwagesaremore than $30,000 . Do not include wages exceeding $100,000 for anyemployee .

PartII­SupplementalCredit

PartI­RegularEnterpriseZoneJobsCredit
BaseYear:Enterthebaseyear .The"baseyear"isthetaxable yearbeginningduringthecalendaryearpriortotheyearinwhich theenterprisezonewheretheclaimantislocatedtakeseffect . Line1:Enterthenumberoffull-timeWisconsinemployeesinthe taxableyearbeginningin2008whoworkinanenterprisezone andwhosewagesaremorethan$30,000 . Forline1andallsubsequentlinesofPartI,"wages"meanswages under section 3306(b) of the Internal Revenue Code, without regardtodollarlimitations . Forline1andallsubsequentlinesofPartI,"full-timeemployee" meansanindividualwhoisemployedinaregular,nonseasonal jobandwho,asaconditionofemployment,isrequiredtoworkat least2080hoursperyear,includingpaidleaveandholidays . For line 1 and all subsequent lines of Part I, an employee is consideredaWisconsinemployeeif: 1 . The individual's service is performed entirely within Wisconsin . 2 . The individual's service is performed within and outside Wisconsin,buttheserviceperformedoutsideWisconsinis incidentaltotheindividual'sservicewithinWisconsin . 3 . AportionoftheserviceisperformedwithinWisconsinand theindividual'sbaseofoperationsisinWisconsin . 4 . AportionoftheserviceisperformedwithinWisconsinand, ifthereisnobaseofoperations,theplacefromwhichthe individual's service is directed or controlled is in Wisconsin . 5 . AportionoftheserviceisperformedwithinWisconsinand neitherthebaseofoperationsoftheindividualnortheplace from which the service is directed or controlled is in any stateinwhichsomepartoftheserviceisperformed,butthe individual'sresidenceisinWisconsin . 6 . Theindividualisneitheraresidentofnorperformsservices inWisconsinbutisdirectedorcontrolledfromanofficein WisconsinandreturnstoWisconsinperiodicallyforbusiness purposesandthestateinwhichtheindividualresidesdoes nothavejurisdictiontoimposeincomeorfranchisetaxeson theclaimant . Line2:Enterthenumberoffull-timeWisconsinemployeesinthe baseyearwhoworkedinanenterprisezoneandwhosewages weremorethan$30,000 . Line4:Enterthetotalnumberoffull-timeWisconsinemployees in the taxable year beginning in 2008 whose wages are more than$30,000 .

Line13:Entertheamounttheclaimantpaidinthetaxableyear foranyofthefollowingpurposes,relatingtoemployeeswho workinanenterprisezone: · To upgrade or improve the job-related skills of any of the claimant'sfull-timeemployees, · Totrainanyoftheclaimant'sfull-timeemployeesontheuse ofnewjob-relatedtechnologies,or · Toprovidejob-relatedtrainingtoanyfull-timeemployeewhose employmentwiththeclaimantrepresentstheemployee'sfirst full-timejob . A"full-timeemployee"meansanindividualwhoisemployedina regular,nonseasonaljobandwho,asaconditionofemployment, isrequiredtoworkatleast2,080hoursperyear,includingpaid leaveandholidays . Line15:Ifapplicable,fillintheamountofenterprisezonejobs credit passed through from tax-option (S) corporations (from Schedule5K-1),partnershipsandLLCstreatedaspartnerships (from Schedule 3K-1), and estates and trusts (from Schedule 2K-1) . Line16:Forestatesortrusts,showonlytheestate'sortrust's portionofthecreditonline16,andshowthebeneficiaries'portion ofthecredittotheleftofline16.Labelit"Beneficiaries'portion." Prorate the beneficiaries portion among the beneficiaries on Schedule2K-1 .Fortax-option(S)corporations,partnerships,and LLCstreatedaspartnerships,showtheentireamountofcredit on line 16 and prorate that amount among the shareholders, partners,ormembersonSchedule5K-1or3K-1 .

RequiredAttachmentstoReturn
FileyourcompletedScheduleECwithyourWisconsinfranchise orincometaxreturn.Also,includeacopyofyourcertificationto claimtaxbenefitsandtheverificationofyourexpenses,which youobtainfromtheDepartmentofCommerce .Shareholdersof tax-option(S)corporations,partnersofpartnerships,membersof LLCstreatedaspartnerships,andbeneficiariesofestatesortrusts mustfileacopyofSchedule5K-1,3K-1,or2K-1,asappropriate, withScheduleECinsteadofthecertificationtoclaimtaxbenefits andverificationofexpenses.

AdditionalInformation
Formoreinformation,youmay: · · · · E-mailyourquestiontocorp@revenue .wi .gov Call(608)266-2772[TTY(608)267-1049] SendaFAXto(608)267-0834 WritetotheAuditBureau,WisconsinDepartmentofRevenue, MailStop5-144,P .O .Box8906,Madison,WI53708-8906