Form 3547 - California Donated Agricultural Products Transportation Credit - 2014

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Donated Agricultural Products
TAXABLE YEAR
CALIFORNIA FORM
2014
3547
Transportation Credit
Attach to your California tax return.
Name(s) as shown on your California tax return
SSN or ITIN
CA Corporation no.
FEIN
California Secretary of State file number
1 Eligible transportation costs. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
00
2 Current year credit. Multiply line 1 by 50% (.50). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
00
3 Pass-through donated agricultural products transportation credit(s) from
Schedule K-1 (100S, 541, 565, or 568). See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
00
4 Total current year donated agricultural products transportation credit. Add line 2 and line 3 . . . . . . . . . . . . 4
00
5 Credit carryover from a prior year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
00
6 Total available donated agricultural products transportation credit. Add line 4 and line 5 . . . . . . . . . . . . . . . 6
00
7 a Enter the amount of credit claimed on your current year tax return (Do not include any assigned
credit claimed on form FTB 3544A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7a
00
This amount may be less than the amount on line 6 if your credit is limited by tentative
minimum tax or your tax liability. See instructions.
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
00
General Information
organization. If two or more taxpayers share in the expenses eligible
for the credit, each taxpayer shall be eligible to receive the tax credit in
References in these instructions are to the Internal Revenue Code (IRC) as
proportion to their respective share of the expenses paid or incurred.
of January 1, 2009, and to the California Revenue & Taxation Code (R&TC).
Certification
A Purpose
You must receive a certificate from the nonprofit charitable organization
certifying that your agricultural product donation is in accordance with
Use form FTB 3547, Donated Agricultural Products Transportation
the provisions of the California Food and Agricultural Code. You should
Credit, to figure the amount of credit allowed for the transportation of
retain this certificate and provide a copy to the FTB upon request.
agricultural products donated to nonprofit charitable organizations.
D Definitions
Also use this form to claim pass-through donated agricultural
products transportation credits received from S corporations, estates,
Agricultural product – Any fowl, animal, vegetable or other stuff, product
trusts, partnerships, or limited liability companies (LLCs) treated as
or article which is customary or proper food for human beings.
partnerships.
Nonprofit charitable organization – A charitable organization that has
S corporations, estates, trusts, partnerships, and limited liability
exempt status under IRC Section 501(c)(3) or R&TC Section 23701d.
companies (LLCs) classified as partnerships should complete form
Transportation costs – Reasonable transportation or travel expenses
FTB 3547 to figure the amount of credit to pass through to shareholders,
(including meals) incurred in performing services away from home for
beneficiaries, partners, or members. Attach this form to Form 100S,
California S Corporation Franchise or Income Tax Return; Form 541,
qualified organizations if no significant element of personal pleasure,
recreation, or vacation is involved. You may include parking fees and
California Fiduciary Income Tax Return; Form 565, Partnership Return
tolls in the actual transportation costs; however, you may not include
of Income; or Form 568, Limited Liability Company Return of Income.
depreciation and insurance. You may determine eligible transportation
Show the pass-through credit for each shareholder, beneficiary, partner,
or member on Schedule K-1 (100S, 541, 565, or 568), Share of Income,
costs in either of the following ways:
Deductions, Credits, etc.
• $.14 (fourteen cents) per mile
• The actual transportation expenses
B Description
E Limitations
You are allowed a credit of 50% of the eligible transportation costs
paid or incurred in connection with the transportation of any donated
No credit will be allowed unless you have received a certificate from
agricultural products donated to nonprofit charitable organizations.
the donee nonprofit charitable organization certifying donation of the
agricultural products.
C Qualifications
S corporations may claim only 1/3 of the credit against the 1.5% entity-
To qualify for this credit, you must be engaged in the business of
level tax (3.5% for financial S corporations). The remaining 2/3 must be
processing, distributing, or selling agricultural products. You may claim
disregarded and may not be used as carryover. S corporations may pass
the credit for eligible transportation costs paid or incurred in connection
through 100% of the credit to their shareholders.
with the donation of any agricultural product to a nonprofit charitable
FTB 3547 2014 Side 1
7371143
For Privacy Notice, get FTB 1131 ENG/SP.

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