Fillable Form Urt-1 - Indiana Utility Receipts Tax Return

Line 18. List the estimated utility receipts tax

combustion technology is 7 percent of the first $500

payments (Form URT-Q) made for the taxable year.

million invested and 3 percent of any amount over

that.

Line 19. If applicable, enter the amount of utility

receipts tax overpayment carried over from a prior

For more information, contact the Indiana Economic

taxable period. Also enter the amount of payment

Development Corporation, One North Capitol, Suite

made resulting from an extension of time to file the

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

return for the taxable year. Combine the amounts, and

website at iedc.in.gov and get Information Bulletin

enter the total on line 19c.

#99 at

Line 20. Other tax liability credits: Claim other

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

allowable tax liability credits by entering the name

this credit. Enclose a copy of the utility regulatory

of the credit program. Enter the three-digit credit ID

commission’s determination and the certificate of

code number, and on line 20b, enter the amount of

compliance issued by the IEDC with your return.

your approved credit. As a nonrefundable tax liability

credit, the amount is generally limited to the tax on

Voluntary Remediation Tax Credit

836

line 16. If your claim exceeds the amount of your tax

A voluntary remediation state tax credit is available

liability, you must adjust by recalculating the credit to

for qualified investments involving the redevelopment

the amount that you can apply.

of a brownfield and environmental remediation. The

Indiana Department of Environmental Management

A claim for credit must be filed in coordination with

and the Indiana Development Finance Authority

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

must determine and certify that the costs incurred

such as the annual AGI tax. A detailed explanation or

in a voluntary remediation are qualified investments.

supporting schedule must be enclosed with the return

The total amount of credits that can be granted in

when claiming any credit on line 20. See Information

each state fiscal year is limited to $2 million and

Bulletin #59 ( ) for more

must be claimed in a taxable year that begins before

information about Indiana tax credits.

Dec. 31, 2007, excluding carryforwards. Carryover

of prior unused credit can be carried back only one

The following two credits are available for reducing

year or carried forward up to five years. For more

utility receipts tax.

information, contact the Indiana Department of

Environmental Management, 100 N. Senate Ave.,

Coal Gasiﬁcation Technology Investment

Room N-1101, Indianapolis, IN 46204. You can also

Tax Credit

806

visit their website 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

this credit. Enclose with your return proof of

gas and electric utility consumers. This can include

certification and amounts paid.

an investment in a facility located in Indiana that

converts coal into synthesis gas that can be used as a

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

substitute for natural gas.

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

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

You must file an application for certification with

the Indiana Economic Development Corporation

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

(IEDC). If the credit is assigned, it must be approved

to line 23 and line 27.

by the utility regulatory commission and taken in

Line 23. Penalty for underpayment of estimated tax.

10 annual installments. The amount of credit for a

coal gasification power plant is 10 percent of the first

Complete and enclose Schedule URT-2220.

$500 million invested and 5 percent of any amount

over that. The amount of credit for a fluidized bed

Form Urt-1 - Indiana Utility Receipts Tax Return - 2014 Page 6

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