Instructions For Form Tc-20s - Utah S Corporation Tax Return - 2012 Page 18
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284. you buy equipment to convert a special mobile
For more information, contact:
equipment engine to operate on propane, natural
Governor’s Offi ce of Economic Development
gas, electricity, or other approved fuel.
60 E South Temple, 3rd Floor
The credit may only be claimed once per vehicle. See
PO Box 146950
instructions on form TC-40V for more information.
Salt Lake City, UT 84114-6950
801-538-8804
Complete form TC-40V, Clean Fuel Vehicle Tax Credit,
business.utah.gov/incentives/
with the Division of Air Quality approval stamp, verifying
enterprise_zones
the credit is approved. Do not send form TC-40V with
your return. Keep the form and all related documents
(08) Low-Income Housing Credit
with your records.
(UC §59-10-1010)
For more information, contact:
Individuals sharing in the credit must obtain form
TC-40TCAC, Utah Low-Income Housing Tax Credit
Division of Air Quality
Allocation Certifi cation, and complete form TC-40LI,
195 N 1950 W
Summary of Utah Low-Income Housing Tax Credit. Do
PO Box 144820
not send these forms with your return. Keep the forms
Salt Lake City, UT 84114-4820
and all related documents with your records.
801-536-4000
cleanfuels.utah.gov/taxcredits/
The building project owner must complete and attach
taxcreditsintro.htm
form TC-40LIS, Credit Share Summary of Low-Income
Housing Project, to the return.
(06) Historic Preservation Tax Credit
This credit is an amount determined by the Utah Hous-
(UC §59-10-1006)
ing Corporation for owners of a low-income housing
The credit is for costs to restore any residential certi-
project who have received an allocation of the federal
fi ed historic building.
low-income housing tax credit.
Complete form TC-40H, Historic Preservation Tax
When this credit applies, the project owner will provide
Credit, with the State Historic Preservation Offi ce cer-
form TC-40TCAC (issued by the Utah Housing Corpo-
tifi cation, verifying the credit is approved. Do not send
ration) to the taxpayer.
form TC-40H with your return. Keep the form and all
related documents with your records.
For more information, contact:
For more information, contact:
Utah Housing Corporation
2479 S Lake Park Blvd
State Historic Preservation Offi ce
West Valley City, UT 84120
300 S Rio Grande St
801-902-8200
Salt Lake City, UT 84101
801-533-3500
history.utah.gov/historic_buildings/
(10) Recycling Market Development Zone Credit
fi nancial_assistance
(UC §59-10-1007)
An individual or business may not claim the recycling
(07) Enterprise Zone Credit
market development zone credit or carry it forward into
(UC §63M-1-413)
a year the individual or business has claimed either the
An individual or business may not claim the enterprise
enterprise zone credit (nonrefundable credit, code 07)
zone credit or carry it forward into a year the individual
or the targeted business tax credit (refundable credit,
or business has claimed either the recycling market
code 40).
development zone credit (nonrefundable credit, code
10) or the targeted business tax credit (refundable
The Recycling Market Development Zone Tax Credit
credit, code 40).
has been reinstated by the Legislature for qualifi ed
machinery or equipment purchased or for other
The Enterprise Zone Credit is available for certain
qualifi ed expenditures made after Dec. 31, 2011.
businesses that hire new full-time employees, restore
buildings, or meet certain other requirements in a
The credit is available to individuals and businesses
designated zone. Indian tribes may apply for enterprise
operating in a designated recycling market develop-
zone designation within an Indian reservation.
ment zone.
If enterprise zone credits are being taken based on your
Complete form TC-40R, Recycling Market Develop-
ownership in a partnership or S corporation, you must
ment Zone Tax Credit, with the Governor’s Offi ce of
allocate the credits as determined under IRC §704.
Economic Development certifi cation verifying the
credit is approved. Do not send form TC-40R with your
There is no form for this credit. Keep all related docu-
return. Keep the form and all related documents with
ments with your records.
your records.
Page 16
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