Form 84 2022 Small Employer Real Property Improvement Tax Credit Names as shown on return Social Security number or EIN Qualifying for the Credit You can claim the small employer real property improvement tax credit if you’ve certified on Form 89SE that you’ll meet all the following tax incentive criteria at the project site during the project period: • Capital investment in new plant and building facilities of at least $500,000 • Increased employment by at least 10 new employees, each earning at least $19.23 per hour and receiving health benefits. • For new employment increases above the 10 new employees, the average wages of the additional new employees are at least $15.50 per hour worked. See instructions for who’s included in this calculation. If you haven’t filed Form 89SE with the Tax Commission or have been notified that you don’t qualify for the small employer incentives, you don’t qualify for this credit. Credit Available Subject to Limitation 1. Amount of investments in new plant and building facilities acquired during the tax year. Don’t include any qualified investments reported on Form 83. Include a complete list of the investments qualifying for this credit .......................................................................................... 1 2. Credit earned. Multiply line 1 by 2.5% ........................................................................................ 2 3. Pass-through share of credit from an S corporation, partnership, trust, or estate ...................... 3 4. Credit received through unitary sharing. Include a schedule ...................................................... 4 5. Carryover of small employer real property improvement tax credit from prior years .................. 5 6. Carryover eliminated due to recapture in 2022. Enter the amount from Form 84R, line 13. Include Form 84R .......................................................................................................... 6 7. Credit distributed to shareholders, partners, or beneficiaries ..................................................... 7 8. Credit shared with unitary affiliates ............................................................................................. 8 9. Total credit available subject to limitations. Add lines 2 through 5, then subtract lines 6 through 8 ........................................................................................................... 9 10. Enter the Idaho income tax from your tax return ........................................................................ 10 11. Credit for income tax paid to other states ................................................ 11 12. Credit for contributions to Idaho educational entities ............................... 12 13. Investment tax credit from Form 49, Part II, line 8 .................................. 13 14. Credit for contributions to Idaho youth and rehabilitation facilities .......... 14 15. Credit for production equipment using post-consumer waste ................. 15 16. Promoter-sponsored event credit ............................................................ 16 17. Credit for Idaho research activities from Form 67, line 29 ....................... 17 18. Broadband equipment investment credit from Form 68, line 18 .............. 18 19. Reserved .................................................................................................19 20. Small employer investment tax credit from Form 83, line 28 ................... 20 21. Add lines 11 through 20 .............................................................................................................. 21 22. Tax available after other credits. Subtract line 21 from line 10 ................................................... 22 23. Credit allowable subject to limitation of tax. Enter the smaller of: a. the amount from line 9, or b. $125,000 ...............................................................................................................................23 24. Total credit allowed on current year tax return. Enter the smaller amount from lines 22 or 23 here and on Form 44, Part I, line 7 ............................................................. 24 Credit Carryover 25. Total credit available subject to limitations. Enter the amount from line 9 .................................. 25 26. Credit allowed. Enter the amount from line 24...................................................... ............................. 26 27. Credit carryover to future years. Subtract line 26 from line 25. Enter the amount here and on Form 44, Part I, line 7 ..................................................................................................... 27 EFO00010 03-31-2022 |
Form 84 — Instructions Small Employer Real Property Improvement 2022 Tax Credit General Instructions • Sprinkler systems Use Form 84 to calculate the Idaho small employer • Fire escapes real property improvement tax credit (SE-RPITC) • Other components relating to the operation or earned or allowed. Each member of a unitary group maintenance of a building of corporations that earns or is allowed the credit must complete a separate Form 84. Carryover Periods Qualifying Taxpayers SE-RPITC that was earned but not used against tax may be carried forward for 14 tax years. For purposes To qualify for the SE-RPITC, you must certify by of the carryover period, a short tax year counts as one filing Form 89SE that you’ll meet the tax incentive tax year. criteria at the project site during the project period. If you haven’t filed Form 89SE with the Tax Recapture Commission or you’ve been notified that you don’t Compute recapture if you sell or otherwise dispose of qualify for the small employer incentives, you can’t the property or it no longer qualifies for the SE-RPITC claim this credit. before it’s been in service for five full years. Qualifying Property In addition, compute recapture if you claimed the If you’re a qualifying taxpayer, the SE-RPITC is SE-RPITC in an earlier year and don’t meet the tax allowed on buildings and structural components of incentive criteria that you certified to on Idaho Form buildings that don’t qualify for the investment tax 89SE. credit. The buildings and structural components If you claimed the SE-RPITC and recapture is now must be at the project site and placed in service required, file Form 84R. during the project period. The buildings and structural components must be Specific Instructions new property. Used property doesn’t qualify for this Instructions are for lines not fully explained on the form. credit. Credit Available Subject to Limitation Buildings and structural components mean Line 1. Include a list of all property you acquired and buildings and structural components of buildings placed in service during the tax year that qualifies as defined in Federal Treasury Regulation Section for the SE-RPITC. List each item of property and its 1.48-1 for Internal Revenue Code Section 48 location, your basis in the item, and the date placed in repealed by Public Law 101-508. service. Don’t include any property placed in service Building generally means any structure enclosing before the date the project period began. a space within its walls, and usually covered by a roof, to provide shelter or housing or to provide Line 3. Enter the amount of the SE-RPITC that’s working office or parking space. being passed through by S corporations, partnerships, trusts, or estates you have an interest in. This amount Structural components include parts of a building is from Form ID K-1, Part VII, line 48. such as: • Walls Line 4. If you’re a member of a unitary group, enter • Partitions the amount of credit you received from another member of the unitary group. • Floors • Ceilings and any permanent coverings to these Line 5. Enter the carryover from your 2021 Form 84, items such as paneling or tiling line 27. • Windows and doors Line 7. If you’re an S corporation, partnership, trust, • All components of a central air conditioning or or estate, enter the amount of credit that passed heating system through to shareholders, partners, or beneficiaries. • Plumbing and plumbing fixtures • Electrical wiring and lighting fixtures Line 8. If you’re a member of a unitary group, enter the amount of credit you earned that you elect to • Chimneys share with other members of your unitary group. • Stairs, escalators, and elevators Before you can share your credit, you must use the credit up to the allowable limitation of the tax liability. EIN00090 03-31-2022 Page 1 of 2 |
Form 84 — Instructions 2022 (continued) Corporations claiming the SE-RPITC must provide Line 11. Enter the credit for income tax paid to other a calculation of the credit earned and used by each states from Form 39R, Form 39NR or Form 66. This member of the combined group. The schedule credit is available only to individuals, trusts, or estates. must clearly identify the shared credit and the computation of any credit carryovers. Line 12. Enter the credit for contributions to Idaho educational entities from the appropriate Idaho income tax return. Credit Limitations The SE-RPITC is limited to the smaller of $125,000 Line 14. Enter the credit for contributions to Idaho or the Idaho income tax after allowing all other tax youth and rehabilitation facilities from the appropriate credits that may be claimed before the SE-RPITC. Idaho income tax return. The following credits must be applied to the tax Enter the credit for production equipment Line 15. before the SE-RPITC: using post-consumer waste from the appropriate Idaho 1. Credit for income tax paid to other states income tax return. 2. Credit for contributions to Idaho educational entities Line 16. Enter the promoter-sponsored event credit from the appropriate Idaho income tax return. 3. Investment tax credit 4. Credit for contributions to Idaho youth and Line 24. Enter the smaller amount from lines 22 or rehabilitation facilities 23 here and on Form 44, Part I, line 7, in the Credit 5. Credit for production equipment using Allowed column. post-consumer waste Credit Carryover 6. Promoter-sponsored event credit Line 27. The amount of credit available that exceeds 7. Credit for Idaho research activities the total credit allowed on the current year tax return 8. Broadband equipment investment credit may be carried forward up to 14 tax years. Enter this 9. Small employer investment tax credit amount on Form 44, Part I, line 7 in the Carryover column. Line 10. Enter the amount of your Idaho income tax. This is the computed tax before subtracting any credits or adding the permanent building fund tax or any other taxes. Contact us: In the Boise area: (208) 334-7660 Toll free:|(800) 972-7660 Hearing impaired (TDD) (800) 377-3529 tax.idaho.gov/contact EIN00090 03-31-2022 Page 2 of 2 |