Form 85r - Recapture Of Idaho Small Employer New Jobs Tax Credit

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RECAPTURE OF IDAHO SMALL

85R

EMPLOYER NEW JOBS TAX CREDIT

EFO00019

06-17-13

Name(s) as shown on return

Social Security Number or EIN

You must report recapture if one or both of the following occurred:

1. You did not meet the following tax incentive criteria:

● Capital investment in new plant and building facilities of at least $500,000,

● Increased employment by at least 10 new employees who each earn at least $19.23 per hour and receive health benefits,

and

● For new employment increases above the 10 new employees, the average wages of the additional new employees is

at least $15.50 per hour worked. See the instructions for who is included in this calculation.

2. You did not maintain the level of qualifying employees for which you earned the credit for five full years after the end of the project

period.

COMPUTATION OF RECAPTURED CREDIT

1. Year in which small employer

new jobs tax credit was earned ...

2. Average number of qualifying

employees for the year the

credit was earned ........................

3. Idaho small employer new

jobs tax credit earned ..................

4. If you failed to meet the tax

incentive criteria, enter 100%

and go to line 6 ...........................

5. From the Recapture Worksheet

below, enter the recapture

percentage for the earliest year

during the recapture period that

the average number of qualifying

employees fell below the average

number of employees listed on

line 2 ...........................................

6. Tentative recaptured credit.

Multiply line 3 by line 4 or 5 .........

7. Add line 6, columns A through E .........................................................................................................................

8. Pass-through share of credit recapture from S corporations, partnerships, estates, or trusts ............................

9. Add lines 7 and 8 ................................................................................................................................................

10. Credit recapture distributed to shareholders, partners, or beneficiaries .............................................................

11. Enter the portion of original credit not used to offset any tax. Do not enter more than line 9.

The amount on this line reduces the carryover available to the current year .....................................................

12. Add lines 10 and 11.............................................................................................................................................

13. Recapture of small employer new jobs tax credit. Subtract line 12 from line 9. Enter here and on

Form 44, Part II, line 5. Do not use this amount to reduce current year's small employer new jobs

tax credit computed on Form 85 .........................................................................................................................

RECAPTURE WORKSHEET - If you did not meet the tax incentive criteria, do not use this section.

Date project period ended __________________________

Recapture Period - Five years

Average number of qualifying employees working

Recapture

after the end of the project period

Tax Year

primarily within the project site during the year

percentage

First year after the end of the project period

100%

Second year after the end of the project period