Arizona Form
2015
Credit for Employment of TANF Recipients
320
Include with your return.
M M D D
2 0 1 5 and ending
M M D D Y Y Y Y
For the calendar year 2015 or fiscal year beginning
.
Your Name as shown on Form 140, 140NR, 140PY, 140X, 99T, 120, 120A, 120S, 120X or 165 Your Social Security or Employer Identification Number
Spouse’s Name as shown on Form 140, 140NR, 140PY, 140X (if a joint return)
Spouse’s Social Security Number
Part 1
Business Information
1 Business name:
2 Business location:
3 Employer Identification Number:
Part 2
Net Increase in Qualified Employment Positions
4 Average number of qualified employment positions during the current taxable year ...........................
4
5 Average number of qualified employment positions during the immediately preceding taxable year ..
5
6 Net increase in the number of qualified employment positions: Subtract line 5 from line 4 ................
6
7
7 Number of positions on line 6 that are eligible for any other income tax credit under Arizona law ......
8
8 Maximum number of positions eligible for the credit: Subtract line 7 from line 6.................................
Part 3
Qualifying New Employees
9 New employees hired during the year ..................................................................................................
9
10 Qualified new employees ..................................................................................................................... 10
11
11 Maximum number of qualifying net new employees: Enter the smaller of line 8 or line 10 .................
Part 4
Credit Calculation for Qualified Employees
(a)
(b)
(c)
(d)
No. of Qualifying
Employees
Qualifying Wages
Percentage
Allowable Credit
12 Qualifying Net New Employees ................... 12
$
00
25%
$
00
13 Previously Qualified Employees in the
Second Year of Continuous Employment .... 13
$
00
33.33% $
00
14 Previously Qualified Employees in the
$
00
50%
$
00
Third Year of Continuous Employment ........ 14
15 TOTALS: Add lines 12 through 14,
columns (a), (b) and (d) ............................... 15
$
00
$
00
Part 5
S Corporation Credit Election and Shareholder’s Share of Credit
M M D D Y Y Y Y
16 The S corporation has made an irrevocable election for the taxable year ending:
to (check only one box):
Claim the credit for employment of TANF recipients, as shown on Part 4, line 15, column (d) for the taxable year mentioned above;
OR
Pass the credit for employment of TANF recipients, as shown on Part 4, line 15, column (d) for the taxable year mentioned
above, through to its shareholders.
Signature
Title
Date
If passing the credit through to the shareholders, complete lines 17 through 20 separately for each shareholder.
Furnish each shareholder with a copy of pages 1 and 2 of Form 320.
17 Name of shareholder:
18 Shareholder’s TIN:
00
19 Individual shareholder’s share of total qualifying wage expense from Part 4, line 15, column (b) ....... 19
00
20 Shareholder’s share of the amount on Part 4, line 15, column (d) ....................................................... 20
ADOR 10579 (15)
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