Instructions For Form Tc-20s - Utah S Corporation Tax Return - 2012 Page 19
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28For more information, contact:
A qualifying solar unit is a portion of the electrical out-
put of an active solar project constructed, controlled
Governor’s Offi ce of Economic Development
or owned by a qualifying political subdivision, which
60 E South Temple, 3rd Floor
generates electricity furnished to and for the benefi t
PO Box 146950
of one or more residential units, and is sold to the
Salt Lake City, UT 84114-6950
taxpayer in exchange for a credit on the taxpayer’s
801-538-8804
electrical bill.
business.utah.gov/incentives/
recycling_zones
Calculation of Qualifying Solar Project Credit
1. Amount paid for solar unit(s)
$_ __ __
(12) Credit for Increasing
Research Activities in Utah
2. Multiply line 1 by 25% (.25)
$_ __ __
(UC §59-10-1012)
3. Enter lesser of line 2 or $2,000. $_ __ __
The credit is:
This is your credit.
1. 5% of your qualifi ed expenses for increasing re-
There is no form for this credit. Keep all related docu-
search activities in Utah above a base amount,
ments with your records.
2. 5% of certain payments made to a qualifi ed orga-
For more information, contact your city or electrical
nization increasing basic research in Utah above
utility provider.
a base amount, and
(27) Veteran Employment Tax Credit
3. 7.5% of your qualifi ed research expenses for a tax-
(UC §59-10-1031)
able year beginning on or after Jan. 1, 2012.
A non-refundable credit is available to taxpayers who
There is no form for this credit. Keep all related docu-
hire a qualifi ed recently deployed veteran on or after
ments with your records.
Jan. 1, 2012.
(21) Renewable Residential Energy
A qualifi ed recently deployed veteran is an individual
who was mobilized to active federal military service in
Systems Tax Credit
an active or reserve component of the United States
(UC §59-10-1014)
Armed Forces, and received an honorable or general
This credit is for reasonable costs, including installation,
discharge within the two-year period before the em-
of a residential energy system that supplies energy to
ployment begins.
a residential unit in Utah. If the residence is sold to a
non-business entity before claiming the tax credit, you
To qualify for the credit, the qualifi ed veteran must meet
may irrevocably transfer the right to the credit to the
all of the following conditions:
new owner. Additional residential energy systems or
1. Received an honorable or general discharge within
parts may be claimed in subsequent years as long as
the two-year period before the employment begins;
the total amount claimed does not exceed $2,000 per
residential unit. The principal portion of the lease pay-
2. Was collecting or was eligible to collect unemploy-
ments may qualify for the credit, if the lessor irrevocably
ment benefi ts, or has exhausted their unemployment
elects not to claim the credit.
benefi ts within the last two years, under Title 35A,
Chapter 4, Part 4, Benefi ts and Eligibility;
Form TC-40E, Renewable Residential and Commercial
Energy Systems Tax Credits, must be obtained from the
3. Work for the taxpayer for at least 35 hours per week
Utah Offi ce of Energy Development with their certifi ca-
for not less than 45 of the next 52 weeks following
tion stamp, verifying the credit is approved and showing
the veteran’s employment start date.
the amount of the approved credit. Do not send form
The credit is claimed beginning in the year the 45 con-
TC-40E with your return. Keep the form and all related
secutive weeks in paragraph 3 above are met.
documents with your records.
Calculation for Veteran Employment Tax Credit
For more information, contact:
First Year Credit (count all months in the year the 45
Utah Offi ce of Energy Development
week requirement is met):
PO Box 144845
Salt Lake City, UT 84114-4845
1. Number of months or partial
_ __ __
801-536-4235
months veteran employed in
energy.utah.gov
fi rst year
(24) Qualifying Solar Project Credit
2. Monthly credit allowable in
$200
fi rst year
(UC §59-10-1024)
You may claim a credit of 25 percent of the amount paid
3. First year credit – line 1 times
$_ __ __
to buy one or more solar units from a qualifying political
line 2 (maximum $2,400)
subdivision, up to a maximum credit of $2,000 per year.
This is in addition to any other energy credit you claim.
Page 17
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