Instructions for Form IC-074 Schedule ED Wisconsin Economic Development Tax Credit - Wisconsin

Form IC-074 Schedule ED Wisconsin Economic Development Tax Credit - Wisconsin

This document contains official instructions for Form IC-074 Schedule ED, Wisconsin Economic Development Tax Credit - a form released and collected by the Wisconsin Department of Revenue. An up-to-date fillable Form IC-074 Schedule ED is available for download through this link.

FAQ

Q: What is Form IC-074 Schedule ED?A: Form IC-074 Schedule ED is a tax form used in Wisconsin to claim the Economic Development Tax Credit.

Q: Who can use Form IC-074 Schedule ED?A: This form can be used by individuals, partnerships, and corporations in Wisconsin.

Q: What is the Economic Development Tax Credit?A: The Economic Development Tax Credit is a tax credit available in Wisconsin to encourage economic development activities.

Q: What information is required on Form IC-074 Schedule ED?A: The form requires information about the taxpayer, the economic development project, and the amount of credit being claimed.

Q: Are there any additional forms or documentation required?A: Yes, taxpayers may need to include additional forms or documentation depending on the nature of the economic development project.

Q: Is there a deadline for filing Form IC-074 Schedule ED?A: Yes, the form must be filed by the due date of the taxpayer's Wisconsin income tax return.

Q: Can the Economic Development Tax Credit be carried forward?A: Yes, unused credits can be carried forward for up to 15 years.

Q: Are there any limitations or restrictions on the Economic Development Tax Credit?A: Yes, there are certain limitations and restrictions, such as a cap on the total amount of credits that can be claimed in a given year.