Instructions For Utah Fiduciary Return (Tc-41) - 2013 Page 18
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332013 Utah Fiduciary Income Tax
Page 17
The credit is claimed beginning in the year the 45 con-
a direct-use geothermal system, a geothermal heat-pump
secutive weeks in paragraph 3 above are met.
system, a hydro-energy system, or a passive solar system.
Credit is also allowed for a commercial system that uses
The credit is calculated as follows:
wind, geothermal electricity, or biomass equipment.
First Year Credit (count all months in the year the 45 week
Get form TC-40E, Renewable Residential and Commercial
requirement is met):
Energy Systems Tax Credits, from the Offi ce of Energy De-
1. Number of months or partial months
velopment with their certifi cation stamp, verifying the credit
veteran employed in fi rst year
__________
is approved and showing the amount of the approved credit.
2. Monthly credit allowable in fi rst year
200
Do not send this form with your return. Keep the form and
3. First year credit – line 1 times line 2
all related documents with your records.
(maximum $2,400)
$ __________
For more information, contact:
Second Year Credit:
Utah Offi ce of Energy Development (OED)
4. Number of months or partial months
PO Box 144845
veteran employed in 2nd year
__________
Salt Lake City, UT 84114-4845
5. Monthly credit allowable in second year
400
801-538-8718
6. Second year credit – line 4 times line 5
energy.utah.gov
(maximum ($4,800)
$ __________
(40) Targeted Business Tax Credit
Any credit in excess of tax due will not be refunded, but
(UC §63M-1-504)
may be carried forward to offset tax for up to fi ve years.
Note: You may not claim this credit the same year you
claim the enterprise zone credit (nonapportionable
The following documentation for the qualifi ed recently
nonrefundable credit, code 07) or the recycling market
deployed veteran must be retained by the taxpayer to
development zone tax credit (nonapportionable nonre-
support the credit claimed, and made available to the
fundable credit, code 10).
Tax Commission upon request:
1. Veteran’s name, last known address, and taxpayer
A credit is available to businesses providing a community
identifi cation or social security number;
investment project as defi ned in UC §63M-1-501 through
2. Start date of employment;
§63M-1-503. Get a certifi ed copy of form TC-40TB, Tar-
3. Documentation establishing that the veteran was
geted Business Tax Credit. Keep this form and all related
employed 45 out of the next 52 weeks after the state
documents with your records.
of employment;
For more information, contact:
4. Documentation provided by the recently deployed
Governor’s Offi ce of Economic Development
veteran’s military service unit establishing that the
60 E South Temple, 3rd Floor
veteran is a recently deployed veteran; and
PO Box 146950
5. A signed statement from the Department of Workforce
Salt Lake City, UT 84114-6950
Services that the recently deployed veteran was
801-538-8804
collecting, was eligible to collect, or exhausted their
goed.utah.gov/incentives/enterprise_zones
unemployment benefi ts within the last two years.
(43) Pass-through Entity Taxpayer’s Withholding
Part 5 - Refundable Credits
Tax Credit
Claim the following refundable credits that apply on TC-
(UC §59-10-1103)
41A, Part 5 and attach it to your Utah return.
If you have an interest in a pass-through entity (partner-
ship, LLP, LLC, S corporation or trust) and received an
On TC-41A, write the code and amount of each refund-
income distribution from them, you may have had Utah
able credit you are claiming. Total these credits, then
income tax withheld from your distribution.
subtract any refundable credits being distributed to ben-
Utah income tax withheld by a pass-through entity that is
efi ciaries on the Utah Schedule K-1. Enter the net amount
attributable to income you received but did not distribute
of the credits being claimed on the fi duciary return and
to your benefi ciaries may be claimed as a credit on the
carry this amount to line 36 of your Utah TC-41. Each
fi duciary return. Enter such withholding tax on TC-41W,
refundable credit is explained below.
Part 3 and bring the total over to TC-41A, page 2, using
Keep all related documents, including credit forms, with
code 43.
your records. You may have to provide this information
later to verify a credit claimed on your return.
If you distributed the income you received from the pass-
through entity to your benefi ciaries, the Utah income tax
Codes for Refundable Credits - TC-41A Part 5
withheld must also be distributed to your benefi ciaries.
39 Renewable Commercial Energy Systems Tax Credit
40 Targeted Business Tax Credit
Complete TC-41A, page 2, using code 43 to report the
43 Pass-through Entity Withholding Tax Credit
withholding, then subtract on the schedule the withhold-
46 Mineral Production Withholding
ing distributed to the benefi ciaries.
47 Agricultural Off-highway Gas/Undyed Diesel Credit
Keep Utah Schedule K-1s issued by the pass-through
48 Farm Operation Hand Tools Credit
entity and all other related documents with your records.
(39) Renewable Commercial Energy Systems Tax
Do not attach them to your Utah return. Processing may be
Credit (UC §59-10-1106)
delayed or the withholding tax credit disallowed if you do
This credit is for reasonable costs, including installation, of
not complete TC-41W, Part 3 with all required information.
a commercial energy system that is an active solar system,
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