Fillable Form Urt-1 - Indiana Utility Receipts Tax Return

A claim for credit must be filed in coordination with

and the Indiana Development Finance Authority must

the amount of credit applied, if any, against other taxes

determine and certify that the costs incurred in a vol-

such as the annual AGI tax. A detailed explanation or

untary remediation are qualified investments. The to-

supporting schedule must be enclosed with the return

tal amount of credits that can be granted in each state

when claiming any credit on line 20. Refer to

fiscal year is limited to $2 million and must be claimed

Information Bulletin #59 ( )

in a taxable year that begins before Dec. 31, 2007,

for more information about Indiana tax credits.

excluding carryforwards. Carryover of prior unused

The following two credits are available for reducing

credit can be carried back only one year or carried

utility receipts tax.

forward up to five years. For additional information,

contact the Indiana Department of Environmental

Management, 100 N. Senate Ave., Room N-1101,

Coal Gasiﬁcation Technology Investment

Indianapolis, IN 46204. You can also visit their web-

Tax Credit 806

site at

A credit is available for a qualified investment in an

integrated coal gasification power plant or a fluidized

Enter 8 3 6 on line 20a on Form URT-1 if claiming

bed combustion technology that serves Indiana gas

this credit. Enclose with your return proof of certifica-

and electric utility consumers. This can include an in-

tion and amounts paid.

vestment in a facility located in Indiana that converts

coal into synthesis gas that can be used as a substitute

Line 21. Total of all payments and credits. Add the

for natural gas.

amounts on lines 18, 19c, and 20b.

You must file an application for certification with the

Line 22. Net tax due. Enter the difference if the sum of

Indiana Economic Development Corporation (IEDC).

lines 16 and 17 is greater than line 21. If not, proceed

If the credit is assigned, it must be approved by the

to line 23 and line 27.

utility regulatory commission and taken in 10 annual

installments. The amount of credit for a coal gasifica-

Line 23. Penalty for underpayment of estimated tax.

tion power plant is 10 percent of the first $500 million

Complete and attach Schedule URT- 2220.

invested and 5 percent of any amount over that. The

amount of credit for a fluidized bed combustion tech-

Note: If your annual liability exceeds $2,500, you must

nology is 7 percent of the first $500 million invested

file quarterly estimated payments to remit 25 percent

and 3 percent of any amount over that.

of your estimated annual tax liability.

For more information, contact the Indiana Economic

Line 24. Interest. If you make your payment after the

Development Corporation, One North Capitol, Suite

original due date, you must pay interest on the late

700, Indianapolis, IN 46204. You can also visit their

payment. To view a chart of the current interest rates,

website at and get Income Tax

see Departmental Notice #3 at

Information Bulletin #99 at

The rate is updated on or before November 1 to take

effect on January 1 for the coming year.

Enter 8 0 6 on line 20a on Form URT-1 if claiming

this credit. Enclose a copy of the utility regulatory

Line 25. Penalty for late payment. If you make your

commission’s determination and the certificate of

payment after the original due date, you must pay a

compliance issued by the IEDC with your return.

penalty of 10 percent of the net tax due (line 22) or $5,

whichever is greater.

Voluntary Remediation Tax Credit 836

A voluntary remediation state tax credit is available

Line 26. Total amount owed. Add lines 22 through 25.

for qualified investments involving the redevelopment

of a brownfield and environmental remediation. The

Line 27. Overpayment. If line 20 is greater than the

Indiana Department of Environmental Management

sum of lines 16, 17, and 23, enter the difference.

Form Urt-1 - Indiana Utility Receipts Tax Return - 2011 Page 6

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