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1350

STATE OF SOUTH CAROLINA

SC SCH.TC-49

DEPARTMENT OF REVENUE

CELLULOSIC ETHANOL OR ALGAE-

(Rev. 6/15/10)

DERIVED BIODIESEL RESEARCH

3448

AND DEVELOPMENT CREDIT

Attach to your Income Tax Return

Name As Shown On Tax Return

SSN or FEIN

1. Enter the amount of credit allocated by the State Energy Office ..............................…………...

2. Enter your current year tax liability ……………………………………………………………………

3. Enter the lesser of line 1 or line 2. This is your credit for the current year. Enter this amount

on the appropriate tax credit schedule ……………………………………………………………….

General Information

For tax years beginning after 2007 and before 2012, Code Section 12-6-3631 provides a corporate or individual income

tax credit for 25% of qualified expenditures for research and development. A taxpayer's total credit in all years is limited to

$100,000. Unused credit may be carried forward for 5 years.

Expenditures qualifying for a tax credit allowed by this section must be certified by the State Energy Office. The State

Energy Office may consult with the Department of Agriculture and the South Carolina Institute for Energy Studies on

standards for certification.

Certification by the State Energy Office

Each taxpayer must submit a request for credit to the State Energy Office by January 31st for qualifying research

expenses incurred in the previous calendar year. The Office’s form for requesting credit is available at

or by calling 803-737-8030. The State Energy Office will notify the taxpayer that the submitted

expenditures qualify for the credit and the amount of credit allocated to such taxpayer by March 1st of that year. A

taxpayer may claim the allocated amount of the credit for its tax year that includes December 31st of the previous

calendar year. The Department of Revenue may require any documentation that it deems necessary to administer the

credit.

NOTE: Attach the State Energy Office letter of certification and this form to your Income Tax Return, or keep with your

tax records if filing electronically.

Definitions

“Qualified expenditures for research and development” means expenditures to develop feedstocks and processes for

cellulosic ethanol and for algae-derived biodiesel, including:

(a) enzymes and catalysts involving cellulosic ethanol and algae-derived biodiesel;

(b) best and most cost efficient feedstocks for South Carolina; or

“Cellulosic ethanol” means fuel from ligno-cellulosic materials, including wood chips derived from noncommercial sources,

corn stover, and switchgrass.

34481010

Form Sc Sch.tc-49 - Cellulosic Ethanol Or Algaederived Biodiesel Research And Development Credit