Schedule Q (Form 1120-Ic-Disc) - Borrower'S Certificate Of Compliance With The Rules For Producer'S Loan
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1Borrower’s Certificate of Compliance
SCHEDULE Q
(Form 1120-IC-DISC)
With the Rules for Producer’s Loans
OMB No. 1545-0123
(Rev. September 2016)
Attach to Form 1120-IC-DISC.
▶
Department of the Treasury
Information about Form 1120-IC-DISC and its separate instructions is at
Internal Revenue Service
▶
For tax year beginning
and ending
Name of IC-DISC
Employer identification number
Name of borrower
Employer identification number
Address of borrower (number and street)
City or town, state or province, and ZIP or foreign postal code
Note: An IC-DISC may establish that the borrower has met the limitation and increased investment requirements of
sections 993(d)(2) and (3) by attaching to its return either (a) Schedule Q (Form 1120-IC-DISC), or (b) a written statement
of compliance of the borrower certified by a certified public accountant.
Under penalties of perjury, I certify that the loan
2.
The percentage which our receipts during the 3 tax
received from the above-mentioned IC-DISC qualifies
years immediately preceding the tax year in which
as a producer’s loan for the following reasons.
the loan was made from the sale, lease, or rental
outside the United States of property which would
A. Limitation Rule. The amount of this loan, when added
be export property (determined without regard to
to the unpaid balance of all of our other qualified
section 993(c)(2)(C) or (D)) if held by an IC-DISC, is
producer’s loans outstanding at the time this loan was
of the gross receipts during such 3 tax years from
made, does not exceed:
the sale, lease, or rental of property held by us
1a. The amount of our adjusted basis (at the beginning
primarily for sale, lease, or rental to our customers
of our tax year in which the loan was made) in plant,
in the ordinary course of our trade or business.
machinery, and equipment, and supporting
B. Increased Investment Requirement. The amount of
production facilities in the United States; plus
this loan, when added to the unpaid balance of all of our
1b. The amount of property held primarily for sale, lease,
producer’s loans made during our tax year, does not
or rental to our customers in the ordinary course of
exceed:
our trade or business at the beginning of our tax
1.
The amount by which the sum of the adjusted basis
year; plus
of our assets described in 1a and 1b above on the
1c. The aggregate amount of our research and
last day of the tax year during which this loan was
experimental expenditures (within the meaning of
made exceeds the adjusted basis of those assets
section 174) in the United States during all
on the first day of such tax year; plus
preceding tax years beginning after December 31,
2.
The aggregate amount of our research and
1971; multiplied by
experimental expenditures (within the meaning of
section 174) in the United States during such tax
year.
Type or print name and title
Date (MM/DD/YYYY)
Signature of officer
For Paperwork Reduction Act Notice, see the
Schedule Q (Form 1120-IC-DISC) (Rev. 9-2016)
Cat. No. 11479D
Instructions for Form 1120-IC-DISC.
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