Form 506 - Investment/new Jobs Credit - 2012 Page 3
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42012 Form 506 - Page 3
Investment/New Jobs Credit Instructions
68 OS Sec. 2357.4 and Rule 710:50-15-74
New Jobs Credit (continued)
Column 4: The credit is $500* per new employee engaged in manufacturing including support personnel. However, the credits
accrued during the moratorium period (July 1, 2010 through June 30, 2012) may only be claimed as follows:
Tax Year
Credit Allowed
Credit for Jobs Created
Credit for Jobs Created
Equals
During the Moratorium
After the Moratorium
$250 per new employee
$500 per new employee
2012
=
($250 is deferred until tax year 2013)
$500 per new employee if level
$500 per new employee if level
2013
=
plus
of new employees is maintained
of new employees is maintained
plus
$250 per new employee
deferred from tax year 2012
$500 per new employee if level
$500 per new employee if level
2014
=
plus
of new employees is maintained
of new employees is maintained
$500 per new employee if level
$500 per new employee if level
2015
=
plus
of new employees is maintained
of new employees is maintained
$500 per new employee if level
$500 per new employee if level
2016
=
plus
of new employees is maintained
of new employees is maintained
*NOTE: If the box on page 1 is checked, indicating the facility is located in an enterprise zone, the credit is $1,000 per new employee.
Investment Credit
Column 5: Enter the amount invested in qualified depreciable property placed in service, in the State of Oklahoma, during the
taxable year. The investment must be at least $50,000 in qualified depreciable property used in manufacturing or in
a web search portal establishment in this state. The credit shall not be allowed if such investment is the direct cause
of a decrease in the number of employees. Qualified property shall be limited to machinery, fixtures, equipment,
buildings or substantial improvements thereto, placed in service in this state during the taxable year. The investment
in Oklahoma Qualified Property must be reduced when the property is sold, disposed of or transferred. Enclose
a detailed schedule showing the description of the qualified property, the amount invested (cost), and the
date the assets were placed in service.
Column 7: The credit is 1%* of the cost of the qualified depreciable property. However, the credits accrued during the
moratorium period (July 1, 2010 through June 30, 2012) may only be claimed as follows:
Tax Year
Credit Allowed
Credit for Assets Placed in Service
Credit for Assets Placed in Service
Equals
During the Moratorium
After the Moratorium
1/2 of 1% (.005) of assets
1%
2012
=
(1/2 of 1% is deferred until tax year 2013)
1% of assets which have not been sold,
1% of assets which have not been sold,
2013
=
plus
disposed of or transferred
disposed of or transferred
plus
1/2 of 1% (.005) of assets deferred
from tax year 2012
1% of assets which have not been sold,
1% of assets which have not been sold,
2014
=
disposed of or transferred
plus
disposed of or transferred
1% of assets which have not been sold,
1% of assets which have not been sold,
2015
=
plus
disposed of or transferred
disposed of or transferred
1% of assets which have not been sold,
1% of assets which have not been sold,
2016
=
plus
disposed of or transferred
disposed of or transferred
*NOTE: If the box on page 1 is checked, indicating the facility is located in an enterprise zone, the credit is 2% of the cost of the
qualified depreciable property.
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