Delaware Form PIT-CRS for Business Refundable Credits

Delaware Form PIT-CRS for Business Refundable Credits

Delaware Form PIT-CRS (Delaware Income Tax Credit Schedule) is required for taxpayers claiming certain business refundable tax credits. This form allows eligible businesses to claim credits such as Economic Development Credits, Research and Development Credits, Green Industries/Brownfield Credits, and others approved by the Delaware Division of Revenue.

Eligible Business Credits

• Economic Development Credits: Available to businesses engaged in qualified activities who meet minimum capital investment and new hiring requirements. Only taxpayers approved by the Division of Revenue may claim these credits.
• Research and Development Credits: Available for Delaware-qualified research and development expenses. These credits are granted on or after January 1, 2027, and require a Division of Revenue approval letter.
• Green Industries/Brownfield Credits: For businesses involved in green industries or brownfield redevelopment projects. Must be approved by the Division of Revenue.
• Land and Historic Resource Conservation Credits: For permanent gifts of land or interest in land to public agencies or qualified nonprofit organizations. Requires attachment of Form BUS-LHR or BUS-NAC and approval letter.

How to Claim Business Refundable Credits

To claim any of the above credits, taxpayers must complete and attach Form PIT-CRS to their Delaware state tax return. The form is available from the Delaware Division of Revenue or at revenue.delaware.gov.

When filing electronically through Online Taxes (OLT) software, follow these steps:

1. From within your tax return (online), click on "State" in the left menu.
2. Click "Start or Revisit Delaware state."
3. Under the "Credits" section, click "Start or Revisit" near "Delaware Income Tax Credit Information - Form PIT-CRS."
4. Select the applicable credit (e.g., Economic Development, Research and Development, etc.) on the checklist page.
5. Click "Save & Continue Return" and follow on-screen instructions.

Important Notes

• All refundable credits require a Division of Revenue approval letter attached to the return.
• Form PIT-CRS must be completed for any taxpayer claiming these credits.
• Credits are calculated on Form PIT-CRS, and the total is entered on Line 30 of Form PIT-RES or Line 46 of Form PIT-NON.

Source:

PIT-RES Instructions

PIT-NON Instructions

PIT-CRS Form

Disclaimer: Always verify details with official Federal or State Department of Revenue Forms and Instructions.