Page 1
Schedule BFT-662 WORKSHEET Instructions
Page 1 of 2
Rev. 10/15
WORKSHEET BFT-662 Instructions
Worksheet A - Affordable Housing Tax Credits, and
Worksheet B - Downtown & Village Center Tax Credits
General Information
Please print in BLUE or BLACK ink only.
Purpose of Worksheet A and Worksheet B:
These worksheets support and detail the amount of credit available to claim, and/or the amount
actually claimed on BFT-662, Tax Credits Earned, Applied, Expired, and Carried Forward for Bank
Franchise.
Worksheet A - Affordable Housing Tax Credits
Who must le:
Every bank that has Affordable Housing (AH) Tax Credits carried forward from a previous period,
or that has AH Credits newly allocated to the bank during the period reported, or that has applied
AH credit during the period reported.
What to le: Worksheet A, Affordable Housing Tax Credits
Information required:
ForeachVermontAffordableHousingTaxCreditCerticateheldbythebank,whether or not credit
is claimed under that specic Certicate during the reporting period, please provide:
(A) Certicatenumber,
(B) YearlycreditallocatedtothebankbythatCerticate,
(C) TotalcreditunderthatCerticateallocatedtothebank(yearlycredittimes5),
(D) Carry forward from prior quarter (total credit allocated to the bank less credit previously
applied; if credit is newly allocated, enter $0),
(E) Credit newly allocated during the quarter (if credit is carried forward from prior quarter,
enter $0),
(F) Credit applied during the quarter,
(G) Credit expired or disposed of this quarter, and
(H) Credit balance (carry forward, plus credit newly allocated, less credit applied, less credit
expired or disposed of).
UseasmanypagesofWorksheetAasnecessarytolistalloftheAHCreditCerticatesheldbythe
bank.
NewlyallocatedcreditsshouldbeattheendofthelistofCerticatesheldbythebank.
Additionally, the rst time a credit is claimed under a particular Certicate in any calendar year,
pleaselecopiesoftheVermontAffordableHousingTaxCreditCerticate,andForm#8609VT,
VermontHousingTaxCreditAllocationCertication,andForm#8609VTSchedule“A”,Vermont
AffordableHousingTaxCreditAllocationCerticationtoevidencetheallocationofthecreditto
the bank.
How to File:
FileWorksheetA,AffordableHousingTaxCredits, togetherwithcopies ofthe Certicate and
Certications as described above, as “Attachments” to the bank’s FranchiseTax Return using
myVTax.
Page 2
Schedule BFT-662 WORKSHEET Instructions
Page 2 of 2
Rev. 10/15
Worksheet B - Downtown & Village Center Tax Credits
Who must le:
Every bank that has Downtown & Village Center (D&V) Tax Credits carried forward from a previous
period, or that has D&V Credits newly assigned to the bank during the period reported, or that has
applied D&V credit during the period reported.
What to le: Worksheet B, Downtown & Village Tax Credits
Information required:
ForeachVermontBankCreditCerticateforD&Vcreditsheldbythebank,whether or not credit
is claimed under that specic Certicate during the reporting period, please provide:
(A) Location of Project,
(B) AmountofHistoriccreditoriginallyassignedtothebankundertheCerticate,
(C) AmountofFaçadecreditoriginallyassignedtothebankundertheCerticate,
(D) AmountofCodecreditoriginallyassignedtothebankundertheCerticate,
(E) AmountofTechcreditoriginallyassignedtothebankundertheCerticate,
(F) TotalcreditunderthatCerticateoriginallyassignedtothebank(totalofHistoric,Façade,
Code,andTechcreditoriginallyassignedtothebankundertheCerticate),
(G) Carry forward from prior quarter (total credit assigned to the bank less credit previously
applied; if credit is newly assigned, enter $0),
(H) Credit newly assigned during the quarter (if credit is carried forward from prior quarter,
enter $0),
(I) Credit applied during the quarter,
(J) Credit expired or disposed of this quarter, and
(K) Credit balance (carry forward, plus credit newly allocated, less credit applied, less credit
expired or disposed of).
UseasmanypagesofWorksheetBasnecessarytolistalloftheD&VCreditCerticatesheldby
the bank.
NewlyassignedcreditsshouldbeattheendofthelistofCerticatesheldbythebank.
Additionally, the rst time a credit is claimed under a particular Certicate in any calendar year,
pleaseleacopyoftheSummarySheetandBankorInsuranceCreditCerticateInformationsheet
to evidence the assignment of the credit to the bank.
How to File:
FileWorksheetB,Downtown&VillageCenterTaxCredits,togetherwithacopyoftheSummary
SheetandBankorInsuranceCreditCerticateInformationsheetasdescribedabove,as“Attachments”
tothebank’sFranchiseTaxReturnusingmyVTax.