California Form 3547 - Donated Agricultural Products Transportation Credit - 1998
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1
2YEAR
CALIFORNIA FORM
1998
Donated Agricultural Products Transportation Credit
3547
Attach to your California tax return.
Social security or California corporation number
Name(s) as shown on return
FEIN
Business address (number and street)
City or town
State
ZIP Code
1
Eligible transportation costs. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
2
Current year credit. Multiply line 1 by 50% (.50) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3
Pass-through donated agricultural products transportation credit(s) from Schedule(s) K-1 (100S, 541, 565 or 568). See instructions 3
4
Total current year donated agricultural products transportation credit. Add line 2 and line 3 . . . . . . . . . . . . . . . . . . . . . .
4
5
Credit carryover from prior year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
6
Total available donated agricultural products transportation credit. Add line 4 and line 5 . . . . . . . . . . . . . . . . . . . . . . .
6
7
Enter the amount of credit claimed on your current year tax return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
Caution: This amount may be less than the amount on line 6 if your credit is limited by tentative minimum tax (TMT)
or your tax liability. See the instructions for line 7.
8
Credit carryover available for future years. Subtract line 7 from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
General Information
Certification
You must receive a certificate from the nonprofit
References in these instructions are to the
charitable organization certifying that your agricul-
Internal Revenue Code (IRC) as of
tural product donation is in accordance with the
January 1, 1998, and to the California Revenue
provisions of the California Food and Agricultural
and Taxation Code (R&TC).
Code. You should retain this certificate and make
it available to the Franchise Tax Board (FTB)
A Purpose
upon request.
Use form FTB 3547 to figure and claim the
D Definitions
donated agricultural products transportation credit.
Also use this form to claim pass-through donated
Agricultural product – Any fowl, animal, vegeta-
agricultural products transportation credits
ble or other stuff, product or article which is cus-
received from S corporations, estates or trusts,
tomary food, or which is proper food for human
partnerships or limited liability companies (LLCs)
beings.
taxed as partnerships.
Nonprofit charitable organization – A charitable
S corporations, estates or trusts, partnerships and
organization that has exempt status under IRC
LLCs taxed as partnerships should complete form
Section 501(c)(3) or R&TC Section 23701d.
FTB 3547 to figure the amount of credit to pass
Transportation costs – Reasonable transporta-
through to shareholders, beneficiaries, partners or
tion or travel expenses (including meals) incurred
members. Attach this form to Form 100S,
in performing services away from home for quali-
Form 541, Form 565 or Form 568. Show the
fied organizations if no significant element of per-
pass-through credit for each shareholder, benefi-
sonal pleasure, recreation or vacation is involved.
ciary, partner or member on Schedule K-1 (100S,
Parking fees and tolls may be included in the
541, 565 or 568).
actual transportation costs; however, depreciation
B Description
and insurance may not be included. Eligible
transportation costs may be determined in
The amount of the credit allowed is 50% of the
either of the following ways:
eligible transportation costs paid or incurred by
•
$.12 (twelve cents) per mile; or
the taxpayer in connection with the transportation
•
The actual transportation expenses.
of any donated agricultural product.
E Limitations
C Qualifications
No credit will be allowed unless you have
To qualify for this credit, you must be engaged in
received a certificate from the donee nonprofit
the business of processing, distributing or selling
charitable organization certifying donation of the
agricultural products. You may claim the credit for
agricultural products.
eligible transportation costs paid or incurred in
connection with the donation of any agricultural
S corporations may claim only 1/3 of the credit
product to a nonprofit charitable organization.
against the 1.5% entity-level tax (3.5% for finan-
cial S corporations). In addition, S corporations
354798109
FTB 3547 1998 Side 1
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