California Form 3503 - Natural Heritage Preservation Credit - 2012

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CALIFORNIA FORM
TAXABLE YEAR
3503
2012
Natural Heritage Preservation Credit
Attach to your California tax return.
Name(s) as shown on your California tax return
SSN or ITIN
Corporation no.
FEIN
California Secretary of State file number
Part I
Wildlife Conservation Board (WCB) Qualified Contribution
Donor’s name as shown on certificate
Type of donated property
Date donation was accepted
Fair market value
Project name
WCB ID#
Part II Credit Computation
00
1 Fair market value from Part I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
00
2 Multiply the amount on line 1 by 55% ( .55) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
3 Pass-through natural heritage preservation credit(s) from Schedule K-1 (100S, 541, 565, or 568) .
00
See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
00
4 Total current year natural heritage preservation credit . Add line 2 and line 3 . . . . . . . . . . . . . . . . . . . . . . . . . 4
00
5 Credit carryover from 2011 . See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
00
6 Total available natural heritage preservation credit . Add line 4 and line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
7 a Enter the amount of credit claimed on your current tax return . (Do not include any assigned
credit claimed on form FTB 3544A .) This amount may be less than the amount on line 6,
00
if your credit is more than your tax liability . See instructions for line 7a . . . . . . . . . . . . . . . . . . . . . . . . . 7a
b Total credit assigned to other corporations within combined reporting group from form
FTB 3544, column (g) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7b
00
8 Credit carryover available for future years . Add line 7a and line 7b, subtract the result from line 6 . . . . . . . . 8
General Information
B Description
The WCB implemented a program for the protection of wildlife habitat,
Natural Heritage Preservation Credit – The funding for the Natural
open space, and agricultural lands . Under this program, property
Heritage Preservation Credit is available beginning January 1, 2010, until
can be contributed to the state, any local government, or to any
June 30, 2015 .
nonprofit organization designated by a local government, based on
The California Personal Income Tax Law and Corporation Tax Law allows
specified criteria .
a nonrefundable credit for certain approved contributions of real property .
The credit is allowed against net tax, in an amount equal to 55%
This credit can be used by taxpayers against the net tax in an amount
( .55) of the fair market value of any qualified contribution made by
equal to 55% of the fair market value of a qualified contribution that has
the taxpayer to the state, any local government, or any designated
been approved for acceptance by the Wildlife Conservation Board (WCB) .
nonprofit organization .
A Purpose
C Qualifications
Use form FTB 3503, Natural Heritage Preservation Credit, to figure the
To qualify for this credit:
amount of the credit . Also, use this form to claim pass-through credits
received from S corporations, estates or trusts, partnerships, or limited
• Make a contribution of property as defined in Section 37002 of the
liability companies (LLCs) classified as partnerships .
Public Resources Code .
• The WCB must approve the contribution for acceptance .
S corporations, estates or trusts, partnerships, and LLCs classified
• Attach a copy of this completed form FTB 3503 to your California tax
as partnerships should complete form FTB 3503 to figure the amount
return .
of credit to pass through to shareholders, beneficiaries, partners, or
members . Attach this form to Form 100S, California S Corporation
For more information regarding qualified contributions, contact the WCB
Franchise or Income Tax Return; Form 541, California Fiduciary Income
at 916 .445 .8448, or go to wcb.ca.gov .
Tax Return; Form 565, Partnership Return of Income; or Form 568,
The credit of any qualified contribution passes through to partners,
Limited Liability Company Return of Income . Show the pass-through
shareholders, beneficiaries, or members of the pass-through entity in
credit for each shareholder, beneficiary, partner, or member on
accordance with their pro-rata interest in the entity as of the date of
Schedule K-1 (100S, 541, 565, or 568), Share of Income, Deductions,
the qualified contribution . The term “pass-through entity” means any
Credits, etc .
partnership, S corporation, or LLC treated as a partnership .
FTB 3503 2012 Side 1
7241123
For Privacy Notice, get form FTB 1131.

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