333-P: Credit for Employing National Guard Members – Distribution to Partners (2024)
Arizona · Arizona DOR · Used for tax years 2024
Arizona Form 333-P reports a partner’s share of a partnership’s Credit for Employing National Guard Members. It lists the partnership and partner information and calculates the partner’s pro rata share of the credit using the partner’s ownership percentage.
Who files this form
A partnership distributing the Credit for Employing National Guard Members must complete a 2024 Form 333-P for each partner, except trust or estate partners.
If a partnership ownership share is held by a grantor trust that is disregarded for federal income tax purposes, the share is treated as owned by the grantor. The grantor may claim their share of the credit.
Partners use Form 333-P to complete their own Form 333 and include a copy of Form 333-P with their return.
What you'll need
To complete Form 333-P, have:
- The partnership’s name and Employer Identification Number (EIN).
- The partner’s name, Taxpayer Identification Number (TIN), and ownership percentage.
- The partnership’s credit amount from Form 333, Part 2, line 9.
The partnership must give each partner a copy of the completed Form 333-P and the certification received from the Arizona Department of Revenue.
How to file
Partnership: Include a copy of Form 333 and a copy of each Form 333-P with the partnership return. Give each partner a copy of their completed Form 333-P and the certification received from the Arizona Department of Revenue. Keep a copy of each completed Form 333-P for your records.
Partner: Use Form 333-P to complete your own Form 333. Include a copy of Form 333-P with your return and keep a copy for your records.
The form does not provide a mailing address or e-filing directions.
Common mistakes
- Claiming the credit in the wrong year: If you file on a calendar-year basis but the partnership files on a fiscal-year basis, claim the credit on your return for the year in which the partnership’s fiscal year ends.
- Leaving out required copies: The partnership must include Form 333 and each Form 333-P with its return. Partners must include their Form 333-P with their own returns.
- Not keeping records: Both the partnership and the partner must keep copies of the completed Form 333-P.
Questions people ask
How is a partner’s share of the credit calculated?
Enter the partnership’s credit from Form 333, Part 2, line 9, on Form 333-P, line 3. Multiply that amount by the partner’s ownership percentage on line 2(c). Enter the result on line 4 as the partner’s pro rata share.
Where does the partner report their share?
Enter the amount from Form 333-P, line 4, on the partner’s own Form 333, Part 2, line 7.
What must the partnership give each partner?
The partnership must provide a copy of the completed Form 333-P and the certification received from the Arizona Department of Revenue.
Can a grantor claim a share held through a grantor trust?
Yes. If the grantor trust is disregarded for federal income tax purposes, the ownership share is treated as owned by the grantor, who may claim their share of the credit.
What if the partner and partnership use different tax years?
A calendar-year partner whose partnership files on a fiscal-year basis claims the credit for the year in which the partnership’s fiscal year ends.