Instructions For Form Tc-20s - Utah S Corporation Tax Return - 2012 Page 20
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28Second Year Credit:
(36) Upper-tier Pass-through Entity Withholding
Tax
4. Number of months or partial
_____
(UC §59-10-1103)
months veteran employed in
If this S corporation has an interest in a partnership,
second year
LLP or LLC (pass-through entity), the other partner-
5. Monthly credit allowable in
$400
ship, LLP or LLC is required to withhold Utah income
second year
tax on any income attributable to this S corporation.
The pass-through entity must provide a Utah Schedule
6. Second year credit – line 4
$_____
K-1 showing the amount of Utah withholding paid on
times line 5 (maximum $4,800)
behalf of this S corporation.
Any credit in excess of tax due will not be refunded, but
This pass-through entity withholding tax is then distrib-
may be carried forward to offset tax for up to fi ve years.
uted to the shareholders of this S corporation.
The following documentation for the qualifi ed recently
Complete TC-250, Part 2, and then enter and allocate
deployed veteran must be retained by the taxpayer to
the total upper-tier (previous) pass-through entity with-
support the credit claimed, and made available to the
holding tax using code 36.
Tax Commission upon request:
Do not include the Utah Schedule K-1 the corporation
1. Veteran’s name, last known address, and taxpayer
received showing this credit when fi ling this corpora-
identifi cation or social security number.
tion’s return.
2. Start date of employment.
(39) Renewable Commercial Energy
3. Documentation establishing that the veteran was
Systems Tax Credit
employed 45 out of the 52 weeks after the date of
(UC §59-10-1106)
employment.
This credit is for reasonable costs, including installation,
4. Documentation provided by the recently deployed
of a commercial energy system that is an active solar
veteran’s military service unit establishing that the
system, a direct-use geothermal system, a geothermal
veteran is a recently deployed veteran.
heat-pump system, a hydro-energy system, or a passive
solar system. Credit is also allowed for a commercial
5. A signed statement from the Department of Work-
system that uses wind, geothermal electricity, or bio-
force Services that the recently deployed veteran
mass equipment.
was collecting, was eligible to collect, or exhausted
their unemployment benefi ts within the last two
Get form TC-40E, Renewable Residential and Com-
years.
mercial Energy Systems Tax Credits, from the Utah
Offi ce of Energy Development with their certifi cation
Refundable Credits
stamp, verifying the credit is approved and showing
the amount of the approved credit. Do not send this
Passed-through on
form with your return. Keep the form and all related
Schedule K
documents with your records.
For more information, contact:
Refundable credits on an S corporation return are
entered on Schedule K and then allocated and passed-
Utah Offi ce of Energy Development
through to the shareholders on Schedule K-1. Refund-
PO Box 144845
able credits may not be claimed on an S corporation
Salt Lake City, UT 84114-4845
return.
801-536-4235
energy.utah.gov
36 Upper-tier Pass-through Entity Withholding Tax
(40) Targeted Business Tax Credit
(UC §63M-1-504)
39 Renewable Commercial Energy Systems Credit
A business may not claim the targeted business tax
(TC-40E)
credit in the same year the business claims the enter-
40 Targeted Business Tax Credit (TC-40TB)
prise zone credit (nonrefundable credit, code 07) or the
recycling market development zone credit (nonrefund-
46 Mineral Production Withholding Tax Credit
able credit, code 10).
(TC-675R)
A credit is available to businesses providing a commu-
47 Agricultural Off-highway Gas/Undyed Diesel Fuel
nity investment project as defi ned in UC §§63M-1-501
Credit
through 63M-1-503. Get a certifi ed copy of form TC-
48 Farm Operation Hand Tools Credit
40TB, Targeted Business Tax Credit. Keep this form
and all related documents with your records.
Page 18
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