Form Tc-65 - Partnership/ Limited Liability Partnership/ Limited Liability Company - 2012 Page 19
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26For more information, contact:
Calculation for Veteran Employment Tax Credit
Utah Offi ce of Energy Development
First Year Credit (count all months in the year the 45
PO Box 144845
week requirement is met):
Salt Lake City, UT 84114-4845
1. Number of months or partial
_ __ __
801-536-4235
months veteran employed in
energy.utah.gov
fi rst year
(24) Qualifying Solar Project Credit
2. Monthly credit allowable in
$200
(UC §59-10-1024)
fi rst year
You may claim a credit of 25 percent of the amount paid
3. First year credit – line 1 times
$_ __ __
to buy one or more solar units from a qualifying political
line 2 (maximum $2,400)
subdivision, up to a maximum credit of $2,000 per year.
This is in addition to any other energy credit you claim.
Second Year Credit:
A qualifying solar unit is a portion of the electrical out-
4. Number of months or partial
_ __ __
put of an active solar project constructed, controlled
months veteran employed in
or owned by a qualifying political subdivision, which
second year
generates electricity furnished to and for the benefi t
5. Monthly credit allowable in
$400
of one or more residential units, and is sold to the
second year
taxpayer in exchange for a credit on the taxpayer’s
electrical bill.
6. Second year credit – line 4
$_ __ __
times line 5 (maximum $4,800)
Calculation of Qualifying Solar Project Credit
Any credit in excess of tax due will not be refunded, but
1. Amount paid for solar unit(s)
$_____
may be carried forward to offset tax for up to fi ve years.
2. Multiply line 1 by 25% (.25)
$_____
The following documentation for the qualifi ed recently
3. Enter lesser of line 2 or $2,000.
$_____
deployed veteran must be retained by the taxpayer to
support the credit claimed, and made available to the
This is your credit.
Tax Commission upon request:
There is no form for this credit. Keep all related docu-
1. Veteran’s name, last known address, and taxpayer
ments with your records.
identifi cation or social security number.
For more information, contact your city or electrical
2. Start date of employment.
utility provider.
3. Documentation establishing that the veteran was
(27) Veteran Employment Tax Credit
employed 45 out of the 52 weeks after the date of
(UC §59-7-614.9)
employment.
A non-refundable credit is available to taxpayers who
4. Documentation provided by the recently deployed
hire a qualifi ed recently deployed veteran on or after
veteran’s military service unit establishing that the
Jan. 1, 2012.
veteran is a recently deployed veteran.
A qualifi ed recently deployed veteran is an individual
5. A signed statement from the Department of Work-
who was mobilized to active federal military service in
force Services that the recently deployed veteran
an active or reserve component of the United States
was collecting, was eligible to collect, or exhausted
Armed Forces, and received an honorable or general
their unemployment benefi ts within the last two
discharge within the two-year period before the em-
years.
ployment begins.
To qualify for the credit, the qualifi ed veteran must meet
Refundable Credits Passed-
all of the following conditions:
through on Schedule K
1. Received an honorable or general discharge within
Refundable credits on a partnership return are entered
the two-year period before the employment begins;
on Schedule K and then allocated and passed-through
2. Was collecting or was eligible to collect unemploy-
to the partners on Schedule K-1. Refundable credits
ment benefi ts, or has exhausted their unemployment
may not be claimed on a partnership return.
benefi ts within the last two years, under Title 35A,
Chapter 4, Part 4, Benefi ts and Eligibility;
Refundable Credit Codes
3. Work for the taxpayer for at least 35 hours per week
for not less than 45 of the next 52 weeks following
36 Upper-tier Pass-through Entity Withholding Tax
the veteran’s employment start date.
39 Renewable Commercial Energy Systems Credit
The credit is claimed beginning in the year the 45 con-
(TC-40E)
secutive weeks in paragraph 3 above are met.
40 Targeted Business Tax Credit (TC-40TB)
Page 17
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial