INSTRUCTIONS: ARIZONA RECYCLING EQUIPMENT CREDIT (Form 307)

In 2003, a law was passed which no longer permitted individual Arizona taxpayers including individual partners of a partnership to claim a credit for recycling equipment. However, a form 307 can still be used to claim carryovers of unused tax credits from taxable years leading up to the change of law. This document can be obtained from the website of the Arizona Department of Revenue.

Arizona Recycling Equipment Credit 307 Step 1: If you are not filing for calendar year printed on the form, enter the beginning and ending dates of your fiscal year.

Arizona Recycling Equipment Credit 307 Step 2: In the first blank box, enter your name as it appears on form 140, 140PY, 140NR or 140X.

Arizona Recycling Equipment Credit 307 Step 3: In the second blank box, enter your Social Security number.

Arizona Recycling Equipment Credit 307 Step 4: If applicable, enter your spouse's name in the third blank box.

Arizona Recycling Equipment Credit 307 Step 5: If applicable, enter your spouse's Social Security number in the fourth blank box.

Arizona Recycling Equipment Credit 307 Step 6: The table provided below is for documentation of your available credit carryover. Line 1 concerns taxable year 1996, which is listed in column a. If claiming credit from this taxable year, enter the original credit amount in column b.

Arizona Recycling Equipment Credit 307 Step 7: Enter the amount of the credit previously used in column c.

Arizona Recycling Equipment Credit 307 Step 8: Subtract the value in column c from the value in column b. Enter the resulting difference in column D.

Arizona Recycling Equipment Credit 307 Step 9: Apply steps 2 through 8 to claim carryover credit for taxable year 1997 on line 2.

Arizona Recycling Equipment Credit 307 Step 10: Apply steps 2 through 8 to claim carryover credit for taxable year 1998 on line 3.

Arizona Recycling Equipment Credit 307 Step 11: Apply steps 2 through 8 to claim carryover credit for taxable year 1999 on line 4.

Arizona Recycling Equipment Credit 307 Step 12: Apply steps 2 through 8 to claim carryover credit for taxable year 2000 on line 5, for taxable year 2001 on line 6 and taxable year 2002 on line 7. Enter the total of all available carryover credits on line 8.