Instructions For Form 3800 - General Business Credit - 2007 Page 3
ADVERTISEMENT
1
2
3each business enterprise by using the
that may be offset by pre-change
administration of any Internal Revenue
following formula:
general business credits. Also, if a
law. Generally, tax returns and return
corporation acquires control of another
information are confidential, as required
Taxable income attributable to
corporation (or acquires its assets in a
by Internal Revenue Code section
the sole proprietorship or your
reorganization), section 384 may limit
6103.
interest in the pass-through
the amount of tax attributable to
entity
The time needed to complete and
(Line 13 – line 15)
x
recognized built-in gains that may be
file this form will vary depending on
Your taxable income for the
offset by pre-acquisition general
individual circumstances. The
year
business credits. If either of these
estimated burden for individual
limitations apply, attach a computation
The result figured above is limited to
taxpayers filing this form is approved
of the allowable general business
the excess of line 13 over line 15. If in
under OMB control number 1545-0074
credit, enter the amount on line 19, and
the current tax year you had no taxable
and is included in the estimates shown
write “Sec. 383” or “Sec. 384” in the
income attributable to a particular
in the instructions for their individual
margin next to your entry on line 19.
business interest, you cannot claim any
income tax return. The estimated
research credit this year related to that
burden for all other taxpayers who file
Paperwork Reduction Act Notice.
business.
this form is shown below.
We ask for the information on this form
If your research credit is limited by
to carry out the Internal Revenue laws
Recordkeeping . . . . . . . . .
17 hr., 56 min.
the above formula, refigure the amount
of the United States. You are required
to enter on line 19 using only the total
Learning about the
to give us the information. We need it to
of the amount calculated above for the
law or the form . . . . . . . . . .
1 hr., 23 min.
ensure that you are complying with
research credit plus the general
these laws and to allow us to figure and
Preparing and sending
business credit from other sources. If
the form to the IRS . . . . . . .
1 hr., 42 min.
collect the right amount of tax.
necessary, follow the Credit Ordering
You are not required to provide the
If you have comments concerning
Rule, and take into account any
information requested on a form that is
the accuracy of these time estimates or
passive activity credit limitations. Write
subject to the Paperwork Reduction Act
suggestions for making this form
“Sec. 41(g)” on the dotted line next to
unless the form displays a valid OMB
simpler, we would be happy to hear
your entry on line 19.
control number. Books or records
from you. See the instructions for the
Corporations. If the corporation has
relating to a form or its instructions
tax return with which this form is filed.
undergone a post-1986 ownership
must be retained as long as their
change (as defined in section 382(g)),
contents may become material in the
section 383 may limit the amount of tax
-3-
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial