INSTRUCTIONS: ARIZONA AGRICULTURAL WATER CONSERVATION SYSTEM CREDIT (Form 312)
In Arizona, a form 312 is used to obtain credit for an agricultural water conservation system. This document can be obtained from the website of the Arizona Department of Revenue.
Arizona Agricultural Water Conservation System Credit 312 Step 1: If not filing for the calendar year printed on the form, enter the beginning and ending dates of your fiscal year.
Arizona Agricultural Water Conservation System Credit 312 Step 2: In the first blank box, enter your name as it appears on form 140, 140PY, 140NR, 140X, 165 or 120S.
Arizona Agricultural Water Conservation System Credit 312 Step 3: In the second blank box, enter your Social Security number or employer identification number.
Arizona Agricultural Water Conservation System Credit 312 Step 4: On line 1, indicate with a check mark whether you have a conservation plan on file and in effect with the United States Department of Agriculture Soil Conservation System. If not, you cannot complete and file this form. If yes, give the date it was filed on line 2a and the location of the Soil Conservation Office on line 2b. Indicate the types of changes or systems installed by checking all appropriate statements on line 3.
Arizona Agricultural Water Conservation System Credit 312 Step 5: On lines 4 through 7 of Part II, calculate the current taxable year's credit as instructed.
Arizona Agricultural Water Conservation System Credit 312 Step 6: Enter your name and Social Security or employer identification number at the top of the second page.
Arizona Agricultural Water Conservation System Credit 312 Step 7: Part III should only be completed by S Corporations. If applicable, document each individual shareholder's share of the credit separately on lines 8 through 10.
Arizona Agricultural Water Conservation System Credit 312 Step 8: Part IV concerns each partner's share of the credit. Complete lines 11 through 13 separately for each partner as instructed.
Arizona Agricultural Water Conservation System Credit 312 Step 9: Part V concerns computation of the available credit carryover. Complete lines 14 through 19 on the table provided as instructed.
Arizona Agricultural Water Conservation System Credit 312 Step 10: Part VI concerns calculation of the current year's available credit. Complete lines 20 through 22 as instructed. Individuals should transfer the value from line 22 to line 9 of form 301.
