Fillable Form 8931 - Agricultural Chemicals Security Credit (Page 2 of 2) in pdf

Form 8931 (Rev. 12-2010)

Page

General Instructions

common control (as defined in Regulations section 1.52-1 (b)

through (g)), are treated as a single taxpayer. As a member,

Section references are to the Internal Revenue Code unless

figure your credit using only your proportionate share of the

otherwise noted.

$100,000 facility limit and the $2 million annual limit on the

group’s credit on lines 4 and 5. Attach a statement showing

Purpose of Form

how your share of the amounts on these lines was figured,

and write “See attached” next to the entry spaces for lines 4

Use Form 8931 to claim the tax credit for qualified

and 5.

agricultural chemicals security costs paid or incurred by

eligible agricultural businesses. All the costs must be paid or

Specific Instructions

incurred to protect specified agricultural chemicals at a

facility.

Line 1

The credit is part of the general business credit. Your

Enter only costs (as described on each line) to the extent

deduction for otherwise deductible agricultural chemicals

they were paid or incurred during the tax year after May 22,

security costs is reduced by the amount of the agricultural

2008, and before January 1, 2013, to protect specified

chemicals security credit. The amount of the credit for any

agricultural chemicals.

taxpayer for any tax year cannot exceed $2 million.

If you have more than one facility, the costs are reported

Line 5

in columns (a), (b), and (c) as needed.

If you have more than three facilities, complete and attach

Taxpayers (other than partnerships, S corporations,

as many Forms 8931 as you need. Also, attach an additional

estates, and trusts) whose only source of this credit is from

Form 8931 showing the total for all the facilities and enter

those pass-through entities are not required to complete or

“Total for all facilities” at the top of the form.

file this form. Instead, report this credit directly on Form

Line 6

3800, General Business Credit.

Enter the total credit for all facilities.

Who Can Claim the Credit

Line 9

An eligible agricultural business that paid or incurred

Allocate the credit on line 8 between the estate or trust and

qualified agricultural chemicals security costs after May 22,

the beneficiaries in the same proportion as income was

2008, and before January 1, 2013, may claim the credit. This

allocated and enter the beneficiaries’ share on line 9.

includes an eligible individual, corporation, partnership, S

corporation, estate, or trust.

Paperwork Reduction Act Notice. We ask for the

Definitions

information on this form to carry out the Internal Revenue

laws of the United States. You are required to give us the

Eligible Agricultural Business

information. We need it to ensure that you are complying

with these laws and to allow us to figure and collect the

An eligible agricultural business is one that:

right amount of tax.

• Sells agricultural products, including specified agricultural

You are not required to provide the information requested

chemicals, at retail predominantly to farmers and ranchers;

on a form that is subject to the Paperwork Reduction Act

unless the form displays a valid OMB control number.

• Manufactures, formulates, distributes, or aerially applies

Books or records relating to a form or its instructions must

specified agricultural chemicals.

be retained as long as their contents may become material

in the administration of any Internal Revenue law. Generally,

Specified Agricultural Chemicals

tax returns and return information are confidential, as

A specified agricultural chemical is either of the following:

required by section 6103.

1. Fertilizer commonly used in agricultural operations that

The time needed to complete and file this form will vary

is listed under any of the following.

depending on individual circumstances. The estimated

a. Section 302(a)(2) of the Emergency Planning and

burden for individual taxpayers filing this form is approved

Community Right-to-Know Act of 1986.

under OMB control number 1545-0074 and is included in

the estimates shown in the instructions for their individual

b. Section 101 of part 172 of title 49, Code of Federal

income tax return. The estimated burden for all other

Regulations.

taxpayers who file this form is shown below.

c. Part 126, 127, or 154 of title 33, Code of Federal

Recordkeeping

. . . . . . . . . . 4 hrs., 32 min.

Regulations.

Learning about the

2. Any pesticide (as defined in section 2(u) of the Federal

Insecticide, Fungicide, and Rodenticide Act), including all

law or the form

. . . . . . . . . . . .

35 min.

active and inert ingredients, that are customarily used on

Preparing and sending

crops grown for food, feed, or fiber.

the form to the IRS . . . . . . . . . . .

42 min.

Member of a Controlled Group or Business Under

If you have comments concerning the accuracy of these

Common Control

time estimates or suggestions for making this form simpler,

we would be happy to hear from you. See the instructions

For purposes of figuring the credit, all members of a

for the tax return with which this form is filed.

controlled group of corporations (as defined in section 41(f)

(5)) and all members of a group of businesses under

Form 8931 - Agricultural Chemicals Security Credit Page 2

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