E. Credits
E1. If a corporation has credit carryforwards as of the beginning of its 2009 taxable year, what happensto those credit carryforwards under combined reporting?
E1. If a corporation has credit carryforwards as of the beginning of its 2009 taxable year, what happens
to those credit carryforwards under combined reporting?
It depends on the type of credit. If a corporation has a research credit or research facilities credit under secs. 71.28(4) or (5) or 71.47(4) or (5), Wis. Stats., or a carryforward of these credits, the corporation may share all or a portion of the unused credit with the other members of the combined group in the manner provided under sec. 71.255(6)(c), Stats., and s. Tax 2.61(10), Wisconsin Administrative Code.
Credits and credit carryforwards other than the research credit and research facilities credit are available only to the separate corporation that generated them.
FOR MORE INFORMATION PLEASE CONTACT:
WISCONSIN DEPARTMENT OF REVENUE
Phone: (608) 266-1143
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Last updated August 12, 2009