Ca Form 3511 - Environmental Tax Credit 2005

YEAR

CALIFORNIA FORM

2005

Environmental Tax Credit

3511

Attach to your California tax return.

For calendar year 2005 or fiscal year beginning month ________day_______year 2005, and ending month _______day______year 20______.

Name(s) as shown on your California tax return

Social security no.

Corporation no.

FEIN

Address of facility (number and street)

PMB no.

Secretary of State (SOS) file number

City or town

State

ZIP Code

-

Part I Current Year Credit

1 Ultra low sulfur diesel fuel produced (in gallons) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 ____________________

2 Multiply line 1 by 5 cents (.05) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 ____________________

3 Qualified capital costs limitation (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 ____________________

4 Total ultra low sulfur diesel fuel production credits allowed for all prior tax years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 ____________________

5 Subtract line 4 from line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 ____________________

6 Enter the smaller of line 5 or line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 ____________________

7 Ultra low sulfur diesel fuel production credits from pass-through entities:

If you are a –

Then enter the credit(s) from –

a. Shareholder

Schedule K-1 (100S)

b. Beneficiary

Schedule K-1 (541)

c. Partner

Schedule K-1 (565)

d. Member

Schedule K-1 (568)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 ____________________

8 Current year credit. Add line 6 and line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 ____________________

9 Enter the amount of credit claimed on the current year tax return. See the instructions for line 9 . . . . . . . . . . . . . . . . . . . . . . . . . 9 ____________________

Caution: This amount may be less than the amount on line 6 if your credit is limited by tentative minimum tax on your

tax liability.

10 Credit carryover available for future years. Subtract line 9 from line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 ____________________

Part II

Credit Recapture

1 Credit Recapture. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 ____________________

General Information

taxable year with respect to the facility cannot exceed 25 percent of the

qualified capital costs incurred by the small refiner reduced by the

Private Mailbox (PMB) Number

aggregate credits for all prior taxable years.

If you lease a private mailbox (PMB) from a private business rather than

C Qualifications

a PO box from the United States Postal Service, include the box number

in the field labeled “PMB no.” in the address area.

To qualify for this credit, a small refiner must request from the California

A Purpose

Air Resources Board (CARB) a certification that both of the following are

true:

Use form FTB 3511 to figure and claim the environmental tax credit for

• The items for which qualified capital costs were paid or incurred are

ultra low sulfur diesel fuel produced in a small refiner located in

for compliance with the applicable Environmental Protection Agency

California. Also use this form to claim pass-through environmental tax

(EPA) or CARB regulations.

credits for ultra low sulfur diesel fuel produced in a small refiner located

• The small refiner placed the items, for which qualified capital costs

in California received from S corporations, estates or trusts, partner-

were paid or incurred, in service.

ships, or limited liability companies (LLCs) classified as partnerships.

D Definitions

S corporations, estates or trusts, partnerships, and LLCs classified as

partnerships should complete form FTB 3511 to figure the amount of

1. California defines “ultra low sulfur diesel fuel” as both of the

credit to pass through to shareholders, beneficiaries, partners, or

following:

members. Attach this form to Form 100S, Form 541, Form 565, or

• Diesel fuel with a sulfur content of 15 parts per million or less,

Form 568. Show the pass-through credit for each shareholder,

and

beneficiary, partner, or member on Schedule K-1 (100S, 541, 565,

• Vehicular diesel fuel produced and sold by a small refiner on or

or 568).

after June 1, 2006. Or, if sold before June 1, 2006, the refiner

B Description

specifically identifies and supports through internal test reports

as meeting applicable CARB regulations.

The California environmental tax credit is available for each taxable year

beginning on or after July 1, 2005, and before January 1, 2018. The

2. California defines “small refiner” as any refiner who owns or operates

a refinery in California that:

environmental tax credit is equal to five cents ($0.05) for each gallon of

ultra low sulfur diesel fuel produced during the taxable year by a small

• Has had at all times since January 1, 1978, a crude oil capacity of

refiner at any facility located in California. The aggregate credit for any

not more than 55,000 barrels per stream day.

351105103

FTB 3511 (NEW 2005) Side 1

For Privacy Act Notice, get form FTB 1131 (individuals only).