Schedule In-117 - Vt Credit For Income Tax Paid To Other State Or Canadian Province - 2012

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*121171199*
VT Credit for Income Tax Paid to
2012
SCHEDULE
117
IN-
Other State or Canadian Province
VERMONT
* 1 2 1 1 7 1 1 9 9 *
For Residents and Some Part-Year Residents ONLY.
You must complete a separate Schedule IN-117 for each state or Canadian province
ATTACH TO FORM IN-111
and attach a copy of the other state return(s). Please see instructions on back of form.
Please PRINT in BLUE or BLACK INK
Taxpayer’s Last Name
First Name
Initial
-
-
1. Name of state or Canadian province. Use standard two-letter abbreviation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.
2. Enter Adjusted Gross Income taxed in another state or
Canadian province that is also subject to VT income tax.
Check to
This entry cannot be more than entry on
.
ç indicate
0 0
loss
Form IN-111, Line 10 . . . . . . . . . . . . . . . . .
2.
3. 2012 Bonus Depreciation add back taxed in another state
.
0 0
or Canadian province AND taxed in VT . . . . . . . . . . . . . . 3.
4. Non-VT state/local obligations taxed in another state or
.
0 0
Canadian province AND taxed in VT. . . . . . . . . . . . . . . . . 4.
.
0 0
5. Add Lines 2-4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.
6. Bonus Depreciation subtracted from income in another
.
0 0
state or Canadian province in tax year 2012 . . . . . . . . . . . . 6.
.
0 0
7. U. S. Government interest income . . . . . . . . . . . . . . . . . . . 7.
.
0 0
8. Add Lines 6 & 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.
9. Modified Adjusted Gross Income for income taxed in other state or Canadian province AND
.
0 0
taxed in VT (Subtract Line 8 from Line 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.
Check to
10. Adjusted Gross Income from
.
ç indicate
0 0
loss
Form IN-111, Line 10 . . . . . . . . . . . . . . . . .
10.
11. Non-VT state/local obligations from Form IN-111,
.
0 0
Line 12a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
.
0 0
12. Bonus Depreciation from Form IN-111, Line 12b. . . . . . 12.
.
0 0
13. Add Lines 10-12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.
14. U. S. Government interest income from
.
0 0
Form IN-111, Line 14a . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.
.
0 0
15. Bonus Depreciation from Form IN-111, Line 14c. . . . . . . 15.
.
0 0
16. Add Lines 14 & 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.
.
0 0
17. Subtract Line 16 from Line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.
.
0 0
18. VT income tax from Form IN-111, Line 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.
19. Computed tax credit (Divide Line 9 by Line 17 and multiply result by Line 18). Result cannot be more than 100% of VT tax.
Line 9
__________________________
x Line 18 _______________________
.
0 0
Line 17
. . . . . . . . . . . . 19.
20. Income tax paid to another state or Canadian province based on
.
0 0
modified adjusted gross income from Line 9 above . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.
21. VT CREDIT for income tax paid to another state or Canadian province.
.
0 0
Enter the lesser of Line 19 or Line 20. Also enter on Form IN-111, Line 23 . . . . . . . . . . . . . . . . . . . 21.
Schedule IN-117

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