Fillable Schedule Dc - Biodiesel Fuel Production Credit

2 of 2

2013 Schedule BC

Page

does not contain any petroleum product, any addi-

Line 6a Fiduciaries – Prorate the credit from line 6

between the entity and its beneficiaries in proportion

tive, or other foreign material, and (3) meet all of the

to the income allocable to each. Show the beneficia-

applicable requirements of the American Society for

Testing and Materials.

ries’ portion of the credit on line 6a. Show the credit

for each beneficiary on Schedule 2K-1.

Credit is Income

Line 6b Subtract line 6a from line 6. This is the

The credit that you compute on Schedule BC is

estate’s or trust’s portion of the credit.

income and must be reported on your Wisconsin

franchise or income tax return in the year computed.

Line 8 Enter the amount of credit from line 8 on the

appropriate line of Schedule CR. See the following

Carryforward of Unused Credits

exceptions:

•

If the claimant is a combined group member,

The biodiesel fuel production credit is nonrefund-

able. Any unused credit may be carried forward for

enter the amount of credit on Form 4M instead

15 years.

of Schedule CR.

•

Tax-option (S) corporations, partnerships, and

Credit computed but not used prior to the credits

expiring January 1, 2014 may be carried forward

LLCs treated as partnerships should prorate the

subject to the 15 year carry forward limitation.

amount of credit on line 8 among the shareholders,

partners, or members based on their ownership

If there is a reorganization of a corporation claiming

interest. Show the credit for each shareholder on

the biodiesel fuel production credit, the limitations

Schedule 5K-1 and for each partner or member

provided by Internal Revenue Code section 383 may

on Schedule 3K-1.

apply to the carryover of any unused credit.

Required Attachments to Return

•

SPECIFIC INSTRUCTIONS

For claimants not receiving the credit passed

through from a partnership, tax-option(S) corpora-

Line 1 To qualify for the credit, you must produce at

tion, limited liability company, estate, or trust: The

least 2,500,000 gallons of biodiesel fuel in Wisconsin

only documentation you are required to submit

during the taxable year. Do not complete Schedule

with your tax return is Wisconsin Schedule BC.

BC if you produce less than 2,500,000 gallons.

•

For claimants receiving the credit passed through

Line 3 Fill in the amount of biodiesel fuel production

from a partnership, tax-option (S) corporation,

credit passed through from tax-option (S) corpora-

limited liability company, estate, or trust: You are

tions, partnerships, LLCs treated as partnerships,

required to submit Wisconsin Schedule BC and a

estates, or trusts. The pass-through credit is shown

copy of the Wisconsin Schedule 2K-1, Schedule

on Schedule 5K-1 for shareholders of tax-option (S)

3K-1, and/or Schedule 5K-1.

corporations, Schedule 3K-1 for partners and LLC

members, and Schedule 2K-1 for beneficiaries of

Additional Information

estates or trusts.

For more information, you may contact any Depart-

ment of Revenue office or:

Line 6 For estates or trusts, tax-option(S) corpora-

tions, partnerships, and LLCs treated as partner-

•

Call (608) 266-2772

ships, show the entire amount of credit on line 6

and prorate that amount among the beneficiaries,

•

E-mail your question to: corp@revenue.wi.gov.

shareholders, partners, or members on Schedule

2K-1, 3K-1, or 5K-1.

Schedule Dc - Biodiesel Fuel Production Credit - 2013 Page 2

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