All of the following credits are part of the general business credit. The form you use to figure each credit is shown in parentheses.
Be sure you
also read How To Claim the Credit, later, because, in most cases, you will also have to complete Form 3800.
Alternative fuel vehicle refueling property credit (Form 8911).
This credit applies to the cost of any qualified fuel vehicle refueling property you placed in service. For more information,
see Form 8911.
Alternative motor vehicle credit (Form 8910).
This credit consists of the following four credits for new vehicles you placed in service. For more information, see
Form 8910.
-
Qualified fuel cell motor vehicle credit.
-
Advanced lean burn technology motor vehicle credit.
-
Qualified hybrid motor vehicle credit.
-
Qualified alternative fuel motor vehicle credit.
Biodiesel and renewable diesel fuels credit (Form 8864)
This credit applies to certain fuel sold or used in your business. For more information, see Form 8864.
Credit for alcohol used as fuel (Form 6478).
This credit consists of the alcohol mixture credit, alcohol credit, and small ethanol producer credit. For more information,
see Form 6478.
Credit for contributions to selected community development corporations (Form 8847).
This credit applies to certain contributions made to a selected community development corporation before June 30,
1999. For more information, see
Form 8847.
Credit for employee social security and Medicare taxes paid on certain employee tips (Form 8846).
This credit is generally equal to your (employer's) portion of social security and Medicare taxes paid on tips received
by employees of your food
and beverage establishment where tipping is customary. The credit applies regardless of whether the food is consumed on or
off your business premises.
However, you cannot get credit for your part of social security and Medicare taxes on those tips that are used to meet the
federal minimum wage rate
that applies to the employee under the Fair Labor Standards Act. For more information, see Form 8846.
Credit for employer-provided childcare facilities and services (Form 8882).
This credit applies to the qualified expenses you paid for employee childcare and qualified expenses you paid for
childcare resource and referral
services. For more information, see Form 8882.
Credits for employers affected by Hurricane Katrina, Rita, or Wilma (Form 5884-A).
A qualified employer can claim the Hurricane Katrina housing credit for qualified lodging provided between January
1, 2006, through July 1, 2006.
The employee retention credit expired on December 31, 2005. For more information, see Form 5884-A.
Credit for increasing research activities (Form 6765).
This credit is designed to encourage businesses to increase the amounts they spend on research and experimental activities,
including energy
research. For more information, see Form 6765.
Credit for small employer pension plan startup costs (Form 8881).
This credit applies to pension plan startup costs of a new qualified defined benefit or defined contribution plan
(including a 401(k) plan), SIMPLE
plan, or simplified employee pension. For more information, see Publication 560, Retirement Plans for Small Business (SEP,
Simple, and Qualified
Plans).
Disabled access credit (Form 8826).
This credit is a nonrefundable tax credit for an eligible small business that pays or incurs expenses to provide access
to persons who have
disabilities. You must pay or incur the expenses to enable your business to comply with the Americans with Disabilities Act
of 1990. For more
information, see Form 8826.
Distilled spirits credit (Form 8906).
This credit is available to distillers and importers of distilled spirits and eligible wholesalers of distilled spirits.
For more information, see
Form 8906.
Empowerment zone and renewal community employment credit (Form 8844).
You may qualify for this credit if you have employees and are engaged in a business in an empowerment zone or renewal
community for which the
credit is available. For more information, see Form 8844 and Publication 954.
Energy efficient appliance credit (Form 8909).
This credit is available for each type of qualified energy efficient appliance produced by the taxpayer in a tax year
ending on or after December
31, 2006. For more information, see Form 8909.
Energy efficient home credit (Form 8908).
This credit is available for eligible contractors of certain homes sold for use as a residence. For more information,
see Form 8908.
Enhanced oil recovery credit (Form 8830).
This credit applies to your qualified enhanced oil recovery costs. The 2006 Form 8830 will not be issued since the
credit is completely phased out
for tax years beginning in 2006 due to the increased applicable reference price of crude oil.
Indian employment credit (Form 8845).
This credit applies to qualified wages and health insurance costs you paid or incurred for qualified employees. For
more information, see Form 8845
and Publication 954.
Investment credit (Form 3468).
The investment credit is the total of the following credits. For more information, see Form 3468.
Low sulfur diesel fuel production credit (Form 8896).
This credit is for the production of low sulfur diesel by a qualified small business. For more information, see Form
8896.
Low-income housing credit (Form 8586).
This credit generally applies to each new qualified low-income building placed in service after 1986. For more information,
see Form 8586.
Mine rescue team training credit.
This credit applies to training program costs you pay or incur for certain mine rescue team employees. For more information,
see Publication 553.
New markets credit (Form 8874).
This credit is for qualified equity investments made in qualified community development entities. For more information,
see Form 8874.
Nonconventional source fuel credit (Form 8907).
This credit is for gas produced from biomass; liquid, gaseous, or solid synthetic fuels produced from coal; and coke
or coke gas. For more
information, see Form 8907.
Orphan drug credit (Form 8820).
This credit applies to qualified expenses incurred in testing certain drugs, known as “
orphan drugs for rare diseases and conditions.” For
more information, see Form 8820.
Qualified railroad track maintenance credit (Form 8900).
Certain regional and switching railroads may be able to claim a credit for expenses made to upgrade their railroad
tracks (including roadbed,
bridges, and related track structures). For more information, see Form 8900.
Renewable electricity, refined coal, and Indian coal production credit (Form 8835).
This credit is for the sale of electricity, refined coal, or Indian coal produced in the United States or U. S. possessions
from qualified energy
resources at a qualified facility. For more information, see Form 8835.
Welfare-to-work credit (Form 8861).
This credit provides businesses with an incentive to hire long-term family assistance recipients. For more information,
see Form 8861 and
Publication 954.
Work opportunity credit (Form 5884).
This credit provides businesses with an incentive to hire individuals from targeted groups that have a particularly
high unemployment rate or other
special employment needs. For more information, see Form 5884 and Publication 954.
To claim a general business credit, you will first have to get the forms you need to claim your current year business credits.
In addition to the credit form, in most cases you may also need to file Form 3800.
You must file Form 3800 if you have any of the credits listed above (other than the credit for alcohol used as a fuel (Form
6478), the empowerment
zone and renewal community employment credit (Form 8844), or the renewable electricity, refined coal, and Indian coal production
credit (Form 8835,
Section B)).
Forms 8844, 6478, and 8835 (Section B) have special tax liability limits and are not reported on Form 3800. Any carryback,
carryforward, and
passive activity limitation of these credits is computed separately on the forms on which they are claimed.
Alternative minimum tax (AMT).
Although you may not owe AMT, you must still figure your tentative minimum tax on Form 6251 if you claim a general
business credit. After you fill
in Form 6251, attach it to your tax return.
