Page 21 - Tax Guide for Small Business

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Carbon oxide sequestration credit (Form 8933). This ble wholesalers of distilled spirits. For more information,
credit is for carbon oxide which is captured at a qualified see Form 8906.
facility and disposed of in a secure geological storage or
used in a qualified enhanced oil or natural gas recovery Employee retention credit (Form 5884-A). You may
project. For more information, see Form 8933. qualify for this credit if you continued to pay or incur wa-
ges after your business became inoperable because of
Credit for employer social security and Medicare damage from certain federally declared disasters. For
taxes paid on certain employee tips (Form 8846). more information, see Form 5884-A.
This credit is generally equal to your (employer's) portion
of social security and Medicare taxes paid on tips re- Empowerment zone employment credit (Form 8844).
ceived by employees of your food and beverage estab- You may qualify for this credit if you have employees and
lishment where tipping is customary. The credit applies re- are engaged in a business in an empowerment zone for
gardless of whether the food is consumed on or off your which the credit is available. For more information, see
business premises. For more information, see Form 8846. Form 8844.

Credit for employer differential wage payments Energy efficient home credit (Form 8908). This credit
(Form 8932). This credit provides businesses with an in- is available for eligible contractors of certain homes sold
centive to continue to pay wages to an employee perform- for use as a residence. For more information, see Form
ing services on active duty in the uniformed services of 8908.
the United States for a period of more than 30 days. For
more information, see Form 8932. Indian employment credit (Form 8845). This credit ap-
plies to qualified wages and health insurance costs you
Credit for employer-provided childcare facilities and paid or incurred for qualified employees. For more infor-
services (Form 8882). This credit applies to the quali- mation, see Form 8845.
fied expenses you paid for employee childcare and quali-
fied expenses you paid for childcare resource and referral Investment credit (Form 3468). The investment credit
services. For more information, see Form 8882. is the total of the several credits. For more information,
see Form 3468.
Credit for increasing research activities (Form 6765).
This credit is designed to encourage businesses to in- Low sulfur diesel fuel production credit (Form 8896).
crease the amounts they spend on research and experi- For more information, see Form 8896.
mental activities, including energy research. For more in- Low-income housing credit (Form 8586). This credit
formation, see Form 6765. generally applies to each new qualified low-income build-

Credit for paid family and medical leave (Form 8994). ing placed in service after 1986. For more information, see
This credit applies for wages paid to qualifying employees Form 8586.
while they are on family and medical leave, subject to cer- Mine rescue team training credit (Form 8923). This
tain conditions. For more information, see Form 8994. credit applies to training program costs you pay or incur

Credit for small employer health insurance premi- for certain mine rescue team employees. For more infor-
ums (Form 8941). This credit applies to the cost of cer- mation, see Form 8923.
tain health insurance coverage you provide to certain em- New markets credit (Form 8874). This credit is for
ployees. For more information, see Form 8941. qualified equity investments made in qualified community

Credit for small employer pension plan startup costs development entities. For more information, see Form
(Form 8881). This credit applies to pension plan startup 8874.
costs of a new qualified defined benefit or defined contri- Orphan drug credit (Form 8820). This credit applies to
bution plan (including a 401(k) plan), SIMPLE plan, or qualified expenses incurred in testing certain drugs for
simplified employee pension. For more information, see rare diseases and conditions. For more information, see
Pub. 560, Retirement Plans for Small Business (SEP, Form 8820.
SIMPLE, and Qualified Plans).
Qualified plug-in electric drive motor vehicle credit
Disabled access credit (Form 8826). This credit is a (Form 8936). This credit is for certain new qualified
nonrefundable tax credit for an eligible small business that plug-in electric vehicles placed in service during the tax
pays or incurs expenses to provide access to persons year. For more information, see Form 8936.
who have disabilities. You must pay or incur the expenses
to enable your business to comply with the Americans Qualified railroad track maintenance credit (Form
with Disabilities Act of 1990. For more information, see 8900). This credit applies with respect to qualified rail-
Form 8826. road track maintenance expenditures paid or incurred dur-

Distilled spirits credit (Form 8906). This credit is avail- ing the tax year. For more information, see Form 8900.
able to distillers and importers of distilled spirits and eligi- Renewable electricity, refined coal, and Indian coal
production credit (Form 8835). This credit is for the

Chapter 4 General Business Credits Page 19