Instructions For Schedule Rc (Form 41a720rc(I)) - Application For Income Tax/llet Credit For Recycling And/or Composting Equipment Or Major Recycling Project Page 2
ADVERTISEMENT
1
2
341A720RC(I) (10-11)
Page 2
Commonwealth of Kentucky
DEPARTMENT OF REVENUE
(c)
"Composting equipment" means equipment used in a
process by which biological decomposition of organic
solid waste is carried out under controlled aerobic
When and Where to File Application—This application
conditions, and which stabilizes the organic fraction
must be filed with the Department of Revenue, Division
into a material which can easily and safely be stored,
of Corporation Tax, Station 52, 501 High Street, Frankfort,
handled, and used in a[n] environmentally acceptable
Kentucky 40601, on or before the first day of the seventh
manner.
month following the close of the taxable year in which
the qualifying equipment was purchased (installed).
The following items may qualify as composting and recycling
Applications bearing a postmark after the above date
equipment if one of the two conditions below is met:
will not be approved. Prior approval must be obtained
before claiming the credit. Taxpayers must file only
one application for all purchases qualifying during the
Balers
Lift-gate
taxable period for which the application is being filed.
The original copy of the approved application will be
Bob Cat
Magnetic Separators
returned to the purchaser.
Briquetters
Material Recovery Facility
Equipment
Compactors
Pallet Jacks
Signature—The application must be signed by the applicant
Containers
Perforators
or other authorized person. Unsigned applications will be
returned.
Conveyors
Pumps with Oil
SPECIFIC INSTRUCTIONS
Conveyor Systems
Scales
Crane with Grapel Hook
Screeners
Check Box—If a Major Recycling Project, check the box and
complete Part I and page 2.
Crushers
Shears
Pass-through Entities—The total approved recycling and/or
Densifyers
Shredders
composting equipment or major recycling project credit shall
End Loaders
Tractor
be reported on Form 720S, Schedule K, Line 16; or on Form
765 or 765-GP , Schedule K, Line 17.
Exhaust Fans
Trailer
Fluffers
Trucks and Roll-offs
PART I—Composting and/or Recycling Equipment
Fork Lifts
Two-wheel Carts
Part I shall be completed for a Major Recycling Project also.
Taxpayers must complete only Columns A through F of this
Granulators
Vacuum Systems
part and the description portion for each type of equipment
listed in Column A. If more than two types of equipment were
purchased during the taxable year, use Schedule RC-C.
The conditions are as follows:
Column A—Enter the specific name of the machinery,
(1)
"Recycling equipment" used exclusively to process
equipment or apparatus. For each item listed, give a brief
postconsumer waste material, or
and concise description of the means by which it is used
exclusively in the composting or recycling process.
(2)
"Composting equipment" used in a process carried out
under controlled aerobic conditions.
Column B—Enter the name of the city, or if not a city, the
county, in Kentucky where the qualifying equipment or
For example, a can crusher is recycling equipment but home
machinery is located.
trash containers or trash bin collectors and other similar items
used for collecting and/or separating postconsumer waste
Column D—Enter the installation date, if applicable. If
are not recycling equipment.
installation is required, enter the date the installation is
completed and the equipment is ready for use.
A self-contained "backyard composter" is composting
equipment but lawn tractors, mowers and mulching or
bagging attachments and other similar equipment used to
Column E—Enter the purchase price or contract price of the
gather organic waste for composting are not composting
qualifying equipment or machinery purchased. Round the
equipment.
amount(s) entered to the nearest whole dollar.
This list is not all-inclusive. If you have a question about
Column F—Enter the cost of installing the equipment or
whether a specific item is eligible under the law, contact
machinery to make it ready for use. Installation cost includes
the Department of Revenue, Division of Corporation Tax,
shipping charges incurred and paid by the purchaser. Round
(502) 564-8139.
the amount(s) entered to the nearest whole dollar. Generally,
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form 41a720rc - Schedule Rc - Application For Income Tax/llet Credit For Recycling And/or Composting Equipment Or Major Recycling Project - 2016
Financial
Schedule Rc (form 41a720rc) - Application For Income Tax/llet Credit For Recycling And/or Composting Equipment Or Major Recycling Project
Financial
Schedule Rc (form 41a720rc) - Application For Income Tax/llet Credit For Recycling And/or Composting Equipment Or Major Recycling Project
Financial
Schedule Rc (form 41a720rc) - Application For Income Tax/llet Credit For Recycling And/or Composting Equipment Or Major Recycling Project
Financial
Schedule Rc (form 41a720rc) - Application For Income Tax/llet Credit For Recycling And/or Composting Equipment Or Major Recycling Project
Financial
Schedule Rc (form 41a720rc) - Application For Income Tax/llet Credit For Recycling And/or Composting Equipment Or Major Recycling Project
Financial
Instructions For Schedule Rc - Application For Income Tax/llet Credit For Recycling And/or Composting Equipment Or Major Recycling Project
Financial
Instructions For Schedule Rc Application For Income Tax/llet Credit For Recycling And/or Composting Equipment Or Major Recycling Project
Financial
Related Categories
Parent category: Financial