Wisconsin Wisconsin Jobs Tax Credit

Wisconsin Jobs Tax Credit
2023 IC-066 Schedule JT Wisconsin Jobs Tax Credit and Instructions
Schedule

JT

Wisconsin Department
of Revenue
Name

Wisconsin Jobs Tax Credit

2023

File with Wisconsin Form 1, 1NPR, 2, 3, 4, 4T, 5S, or 6
Read instructions before filling in this schedule

Identifying Number

Round Amounts to Nearest Dollar
1	 Enter amount of wage tax benefits certified by the Wisconsin Economic Development
	Corporation. Include copy of WEDC certification/verification . . . . . . . . . . . . . . . . . . .  	 1
2	

.00

Enter amount awarded by the Wisconsin Economic Development Corporation for costs
incurred to undertake training activities. Include copy of WEDC certification/verification 	 2

.00

3	 Add lines 1 and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	3

.00

4	 Jobs tax credit passed through from other entities:
4a	 Entity Name
Amount 4a

.00

Amount 4b

.00

4c	 Total pass through credits from additional schedule. 4c

.00

	

FEIN	

4b	 Entity Name
	FEIN	

4d	 Total credits (add lines 4a through 4c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	4d

.00

5	 Add lines 3 and 4d. This is your 2023 jobs tax credit  . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 5

.00

5a	 Fiduciaries - enter the amount of credit allocated to beneficiaries . . . . . . . . . . . . . . . . . .  	5a

.00

5b	 Fiduciaries - subtract line 5a from line 5  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	5b

.00

Instructions for 2023 Schedule JT
Purpose of Schedule JT
Use Schedule JT to claim the jobs tax credit, which
is available for taxpayers who are certified by the
Wisconsin Economic Development Corporation
(WEDC). Note: The credit may not be computed for
taxable years beginning on or after January 1, 2016;
however, if the WEDC has allocated tax benefits to
the claimant in a contract executed before December
31, 2015, or in a letter of intent to enter into a contract
before that date, the claimant may compute the credit
for as long as the contract specifies.

Credits are Refundable
If the amount of credit exceeds the tax otherwise
due, the amount of the claim not used to offset the
tax due will be refunded.

IC-066 (R. 8-23)

Caution: If you recklessly or fraudulently claim
a false credit, you may be ineligible to claim it for
up to 10 years and you may owe a penalty. See
pages 24 and 25 of Wisconsin Tax Bulletin #180
for further details.

Who is Eligible to Compute the Credit
Any individual, estate, trust, partnership, limited
liability company (LLC), tax-option (S) corporation,
corporation or tax-exempt organization that is
certified by the WEDC is eligible to compute the
credit.

Who is Eligible to Claim the Credit
Individuals and corporations may claim the credit.
Estates, trusts, partnerships, LLCs treated as
partnerships, and tax-option (S) corporations cannot

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2023 Schedule JT

claim the credit, but the credit amount attributable to
the entity’s business operations passes through to
the beneficiaries partners, members or shareholders.
No credit is allowed unless the claimant satisfies the
following requirements:

Special Instructions for Pass-Through Entities:
•	

Tax-option (S) corporations, partnerships,
and LLCs treated as partnerships: Prorate the
jobs tax credit on line 5 among the shareholders,
partners, or members. Show the credit for
each shareholder on Schedule 5K-1 and for
each partner or LLC member on Schedule
3K-1. Caution: A tax-option (S) corporation or
partnership that makes an election to claim the
credit at the entity level may not pass through
the credit to its shareholders or partners on
Schedules 5K-1 or 3K-1.

•	

Fiduciaries: Complete lines 5a and 5b.

•	 The claimant is certified by the WEDC.
•	 The claimant has received from the WEDC notice
of eligibility to receive tax benefits that reports the
amount of tax benefit for which the claimant is
eligible.
The credit is based on wages paid to an eligible
employee and costs incurred to undertake training
activities.

Credit is Income
The credit you compute on Schedule JT is income
and must be reported on your Wisconsin franchise
or income tax return in the year computed.

Specific Line Instructions
Line 1: Enter the amount of wage tax benefits
reported on the notice of eligibility received from
the WEDC.
Line 2: Enter the amount awarded by the WEDC for
costs incurred to undertake training activities.
Line 4: Enter the amount of jobs tax credit
passed through from tax-option (S) corporations,
partnerships, LLCs treated as partnerships, estates,
or trusts. The pass-through credit is shown on
Schedule 5K-1 for shareholders of tax-option (S)
corporations, Schedule 3K-1 for partners and LLC
members, and Schedule 2K-1 for beneficiaries of
estates or trusts.
Line 5: This is the total current year jobs tax credit.
•	Enter the amount of credit from line 5 on the
appropriate line of Schedule CR.
If the claimant is a combined group member, enter
the amount of credit on Form 6, Part III, line 13
instead of Schedule CR.
Applicable Laws and Rules
This document provides statements or interpretations of
the following provisions of Wisconsin Statutes in effect as
of August 29, 2023: chs. 71, Wis. Stats. and chs. Tax 1, 2
and 3 Wis. Adm. Code.

Line 5a: Fiduciaries - Prorate the credit from
line 5 between the entity and its beneficiaries in
proportion to the income allocable to each. Show the
beneficiaries’ portion of the credit on line 5a. Show
the credit for each beneficiary on Schedule 2K-1.
Line 5b: Fiduciaries - Subtract line 5a from line 5.
This is the estate or trusts portion of the credit. Enter
the amount of credit from line 5b on the appropriate
line of Schedule CR.

Required Attachments to Return
You must include the following information with your
Wisconsin franchise or income tax return:
•	 Schedule JT
•	 A copy of your certification to claim tax benefits
issued by WEDC.
•	 Notice of eligibility that reports the amount of tax
benefits from WEDC.
Exception for shareholders, partners, members,
and beneficiaries: If the credit is received from a
tax-option (S) corporation, partnership, LLC treated
as a partnership, estate, or trust, submit a copy of
Schedule 5K-1, 3K-1, or 2K-1 with Schedule JT
instead of the certification to claim tax benefits and
notice of eligibility.

Additional Information
For more information, you may:
•	 E-mail your question to
	 [email protected]
•	Call (608) 266-2772 [TTY: Call the Wisconsin
Telecommunications Relay System at 711]
•	 Send a FAX to (608) 267-0834
•	 Write to the Audit Bureau, Wisconsin Department
of Revenue, Mail Stop 3-107, PO Box 8906,
Madison WI 53708-8906.