Schedule Ec - Enterprise Zone Jobs Credit - 2012
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1Schedule
Enterprise Zone Jobs Credit
EC
2012
File with Wisconsin Form 1, 1NPR, 2, 3, 4, 4T, 5, or 5S
Wisconsin Department
Read instructions before filling in this schedule
of Revenue
Name
Identifying Number
1
Fill in the enterprise zone jobs credit released to you by the Wisconsin Economic
Development Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
2
Fill in the enterprise zone jobs credit passed through from other entities . . . . . . . . . . . . . . .
2
3
Add lines 1 and 2 . This is your enterprise zone jobs credit . . . . . . . . . . . . . . . . . . . . . . . . . .
3
3a Fiduciaries - enter the amount of credit allocated to beneficiaries . . . . . . . . . . . . . . . . . . . .
3a
3b Fiduciaries - subtract line 3a from line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3b
Instructions for 2012 Schedule EC
Purpose of Schedule EC
Line 3: Add lines 1 and 2 . This is the total current year enterprise
zone jobs credit . Enter the amount of credit from line 3 on the
Use Schedule EC to claim the enterprise zone jobs credit,
appropriate line of Schedule CR . See the following exceptions:
which is available to qualifying taxpayers doing business in a
• If the claimant is a combined group member, enter the amount
Wisconsin enterprise zone designated by the Wisconsin Economic
Development Corporation (WEDC) . Taxpayers may claim the
of credit on Form 4M instead of Schedule CR .
credit based on job creation, job retention, capital investment,
• Tax-option (S) corporations, partnerships, and LLCs treated
training and supply chain purchases .
as partnerships should prorate the amount of credit on line 3
among the shareholders, partners, or members based on their
To be eligible for the enterprise zone jobs credit, businesses must
ownership interest . Show the credit for each shareholder on
first be certified by the WEDC. For information regarding how to
Schedule 5K-1 and for each partner or member on Schedule
become certified, visit the WEDC web site at inwisconsin .com
3K-1 .
or write to the WEDC, PO Box 1687, Madison, WI 53701-1687 .
• Fiduciaries who file Form 2 must complete lines 3a and 3b.
Who is Eligible to Claim the Credit
Line 3a: Fiduciaries – Prorate the credit from line 3 between the
Any individual, estate, trust, partnership, limited liability company
entity and its beneficiaries in proportion to the income allocable
(LLC), corporation, or tax-exempt organization that is conducting
to each. Show the beneficiaries’ portion of the credit on line 3a.
business in an enterprise zone and has been certified by the
Show the credit for each beneficiary on Schedule 2K-1.
WEDC may be eligible for the credit .
Line 3b: Fiduciaries – Subtract line 3a from line 3 . This is the
Partnerships, LLCs treated as partnerships, and tax-option (S)
estate’s or trust’s portion of the credit . Enter the amount of credit
corporations cannot claim the credits, but the credits attributable
from line 3b on the appropriate line of Schedule CR .
to the entity’s business operations pass through to the partners,
Required Attachments to Return
members, or shareholders .
File your completed Schedule EC with your Wisconsin franchise
Caution
or income tax return. Also include a copy of your certification to
claim tax benefits and the verification of your expenses, which
• The credit you compute on Schedule EC is income and must
you obtain from the WEDC . Shareholders of tax-option (S)
be reported on your Wisconsin franchise or income tax return
corporations, partners of partnerships, members of LLCs treated
in the year computed .
as partnerships, and beneficiaries of estates or trusts must file
• The enterprise zone jobs credit is not allowable for expenditures
a copy of Schedule 5K-1, 3K-1, or 2K-1, as appropriate, with
Schedule EC instead of the certification to claim tax benefits and
which are included in the basis for another Wisconsin income
verification of expenses.
or franchise tax credit, such as the research expense credit .
Specific Instructions
Additional Information
Line 1: Fill in the total amount of enterprise zone jobs credit
For more information, you may:
awarded and released to you by the WEDC, as computed by
• E-mail your question to
corp@revenue .wi .gov
the WEDC .
• Call (608) 266-2772 [TTY: Call the Wisconsin Telecommunica-
Line 2: If applicable, fill in the amount of enterprise zone jobs
tions Relay System at 711 . If no answer, dial 1-800-947-3529]
credit passed through from tax-option (S) corporations (from
• Send a FAX to (608) 267-0834
Schedule 5K-1), partnerships and LLCs treated as partnerships
• Write to the Audit Bureau, Wisconsin Department of Revenue,
(from Schedule 3K-1), and estates and trusts (from Schedule 2K-1) .
Mail Stop 5-144, PO Box 8906, Madison, WI 53708-8906 .
IC-067
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