Form Ftb 3547 - Donated Agricultural Products Transportation Credit - 2012
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1
2Donated Agricultural Products
TAXABLE YEAR
CALIFORNIA FORM
2012
3547
Transportation Credit
Attach to your California tax return.
Name(s) as shown on your California tax return
SSN or ITIN
Corporation no.
FEIN
California Secretary of State file number
1 Eligible transportation costs. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
00
2 Current year credit. Multiply line 1 by 50% (.50). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
00
3 Pass-through donated agricultural products transportation credit(s) from
Schedule K-1 (100S, 541, 565, or 568). See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
00
4 Total current year donated agricultural products transportation credit. Add line 2 and line 3 . . . . . . . . . . . . 4
00
5 Credit carryover from a prior year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
00
6 Total available donated agricultural products transportation credit. Add line 4 and line 5 . . . . . . . . . . . . . . . 6
00
7 a Enter the amount of credit claimed on your current year tax return (Do not include any assigned
credit claimed on form FTB 3544A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7a
00
This amount may be less than the amount on line 6 if your credit is limited by tentative
minimum tax or your tax liability. See instructions.
b Total credit assigned to other corporations within combined reporting group from
form FTB 3544, column (g) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7b
00
8 Credit carryover available for future years. Add line 7a and line 7b, subtract the result from line 6. . . . . . . . 8
00
General Information
organization. If two or more taxpayers share in the expenses eligible
for the credit, each taxpayer shall be eligible to receive the tax credit in
References in these instructions are to the Internal Revenue Code (IRC)
proportion to their respective share of the expenses paid or incurred.
as of January 1, 2009, and to the R&TC.
Certification
A Purpose
You must receive a certificate from the nonprofit charitable organization
certifying that your agricultural product donation is in accordance with
Use form FTB 3547, Donated Agricultural Products Transportation
the provisions of the California Food and Agricultural Code. You should
Credit, to figure the amount of credit allowed for the transportation of
retain this certificate and provide a copy to the FTB upon request.
agricultural products donated to nonprofit charitable organizations.
Also use this form to claim pass-through donated agricultural products
D Definitions
transportation credits received from S corporations, estates or
Agricultural product – Any fowl, animal, vegetable or other stuff, product
trusts, partnerships, or limited liability companies (LLCs) treated as
or article which is customary, or proper food for human beings.
partnerships.
Nonprofit charitable organization – A charitable organization that has
S corporations, estates or trusts, partnerships, and limited liability
exempt status under IRC Section 501(c)(3) or R&TC Section 23701d.
companies (LLCs) classified as partnerships should complete form
FTB 3547 to figure the amount of credit to pass through to shareholders,
Transportation costs – Reasonable transportation or travel expenses
beneficiaries, partners, or members. Attach this form to Form 100S,
(including meals) incurred in performing services away from home for
California S Corporation Franchise or Income Tax Return; Form 541,
qualified organizations if no significant element of personal pleasure,
California Fiduciary Income Tax Return; Form 565, Partnership Return
recreation, or vacation is involved. You may include parking fees and
of Income; or Form 568, Limited Liability Company Return of Income.
tolls in the actual transportation costs; however, you may not include
Show the pass-through credit for each shareholder, beneficiary, partner,
depreciation and insurance. You may determine eligible transportation
or member on Schedule K-1 (100S, 541, 565, or 568), Share of Income,
costs in either of the following ways:
Deductions, Credits, etc.
• $.14 (fourteen cents) per mile
• The actual transportation expenses
B Description
E Limitations
You are allowed a credit of 50% of the eligible transportation costs
paid or incurred in connection with the transportation of any donated
No credit will be allowed unless you have received a certificate from
agricultural products donated to nonprofit charitable organizations.
the donee nonprofit charitable organization certifying donation of the
agricultural products.
C Qualifications
S corporations may claim only 1/3 of the credit against the 1.5% entity-
To qualify for this credit, you must be engaged in the business of
level tax (3.5% for financial S corporations). The remaining 2/3 must be
processing, distributing, or selling agricultural products. You may claim
disregarded and may not be used as carryover. S corporations may pass
the credit for eligible transportation costs paid or incurred in connection
through 100% of the credit to their shareholders.
with the donation of any agricultural product to a nonprofit charitable
FTB 3547 2012 Side 1
7371123
For Privacy Notice, get form FTB 1131.
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