Idaho Idaho Statement of Credit Transfer

Idaho Statement of Credit Transfer
Form 70, Statement of Credit Transfer and Instructions 2023
Form 70
Statement of Credit Transfer
Send this form to the Idaho State Tax Commission at least 60 days before the date of transfer.
Part I — Transferor:
Name
Address
Social Security number or EIN
Signature of authorized individual
Title

Phone number

Date of transfer

Part II — Transferee:
Name
Address
Social Security number or EIN

Part III — Broadband Equipment Investment Credit:
Amount to be transferred

Tax years earned

Include a copy of Form 68 for each tax year the credit was earned. Include a copy of the complete list of
property the credit was earned on and a copy of the approval from the Idaho Public Utilities Commission
(PUC).
To be completed by the Tax Commission:
Credit available for transfer
Signed

Carryover period available
Date

The transferee must include a copy of this form with each income tax return on which the credit is claimed or
carried over.
Mail to:

EFO00042

Income Tax Audit
Idaho State Tax Commission
PO Box 36
Boise ID 83722-0410

09-18-2023

Fax to: Income Tax Audit
(208) 332-6619

Form 70 — Instructions
Statement of Credit Transfer
General Instructions
Use Form 70 to report the credit being transferred
and the number of years it can be carried forward.
Send this form to the Tax Commission at least 60
days before the transfer date.
Which Credits Can Be Transferred
Only the broadband equipment investment credit
can be transferred. You can transfer all or a part of
the credit you earn.
Who Can Transfer Credits
You can transfer the broadband equipment
investment credit if you originally earned the credit
or you’re an intermediary. If you’re an intermediary,
you can either use all or part of the credit or resell
all or part of it to another taxpayer. The credit can’t
be transferred more than two times.
You can’t transfer the broadband equipment
investment credit to another taxpayer if you
received the credit through unitary sharing.
Information You Must Provide
For each tax year the credit being transferred
was earned, you must provide copies of all of the
following:
•	 Idaho Form 68
•	 Schedules that list the property the credit was
earned on
•	 The Idaho Public Utilities Commission
approval authorizing the credit
When to Claim the Transferred Credit
The transferee can claim transferred credits
on the original return filed in the calendar year
of the transfer. For example, if the broadband
equipment investment credit was transferred on
June 1, 2021, the transferee can claim the credit on
their original return for calendar year 2020 filed on
October 15, 2021.

Any credit not claimed on the tax return filed during the
year of the transfer can be claimed on the transferee’s
returns for the carryforward period approved on
Form 70.

Specific Instructions
File a separate Form 70 to identify each transferee
you’ll be transferring the credit to.
Part I — Transferor Information. If you’re transferring
the credit, enter your name as it appears on your tax
return for the tax year when the transfer takes place.
Provide the additional identifying information. Enter the
date the transfer will take place.
If you’re an intermediary selling the credit to another
taxpayer, complete Part I with your identifying
information.
Part II — Transferee Information. Provide the
name, address and Social Security number or
Employer Identification Number of the taxpayer you’re
transferring the credit to. This can be an intermediary.
Part III — Credit Information. Enter the amount
to be transferred and the tax years the broadband
equipment investment credit was earned.
The Tax Commission will review the information
provided and identify the credit available for transfer
and the carryover period available to the transferee.
The form will then be returned to the transferor.
The Tax Commission may examine the transferor’s
books and records to verify that the credit claimed
by the transferor was correct. If the Tax Commission
determines that the credit claimed was overstated or
that recapture of credit is necessary, any tax due from
an overstated or recaptured credit will be due from the
transferor.

If you don’t claim the transferred credit on your
original return filed during the calendar year when
the transfer takes place, you can’t amend the return
for that tax year to claim the credit.

Contact us:

In the Boise area: (208) 334-7660 | Toll free: (800) 972-7660
Hearing impaired (TDD) (800) 377-3529
tax.idaho.gov/contact
EIN00086

09-18-2023