Form Tc-65 - Partnership/ Limited Liability Partnership/ Limited Liability Company - 2012 Page 20
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
26A credit is available to businesses providing a commu-
46 Mineral Production Withholding Tax Credit
nity investment project as defi ned in UC §§63M-1-501
(TC-675R)
through 63M-1-503. Get a certifi ed copy of form TC-
40TB, Targeted Business Tax Credit. Keep this form
47 Agricultural Off-highway Gas/Undyed Diesel Fuel
and all related documents with your records.
Credit
For more information, contact:
48 Farm Operation Hand Tools Credit
Governor’s Offi ce of Economic Development
60 E South Temple, 3rd Floor
PO Box 146950
(36) Upper-tier Pass-through
Salt Lake City, UT 84114-6950
Entity Withholding Tax
801-538-8804
(UC §59-10-1103)
business.utah.gov/incentives/
If this partnership has an interest in a partnership, LLP or
enterprise_zones
LLC (pass-through entity), the other partnership, LLP or
LLC is required to withhold Utah income tax on any income
(46) Mineral Production Withholding Tax Credit
attributable to this partnership. The pass-through entity
(UC §59-6-102)
must provide a Utah Schedule K-1 showing the amount
Enter the total of the mineral production tax withheld as
of Utah withholding paid on behalf of this partnership.
shown on forms TC-675R or Utah Schedule K-1(s) for
This pass-through entity withholding tax is then dis-
the tax year. For a fi scal year partnership, the credit is
tributed to the partners of this partnership. Complete
reported on the partnership return required to be fi led
TC-250, Part 2, and then enter and allocate the total
during the year following the December closing period
upper-tier (previous) pass-through entity withholding
of the form TC-675R.
tax using code 36.
Enter the mineral production withholding tax on TC-250.
Do not include the Utah Schedule K-1 the partnership
Enter the credit in Part 2 if received from an upper-tier
received showing this credit when fi ling this partner-
pass-through entity, or in Part 3 if received on a TC-675R
ship’s return.
from the mineral producer.
Do not attach the TC-675R or Utah Schedule K-1 to
(39) Renewable Commercial Energy
the partnership return.
Systems Tax Credit
(UC §59-10-1106)
(47) Agricultural Off-Highway Gas/Undyed
This credit is for reasonable costs, including installation,
Diesel Fuel Credit
of a commercial energy system that is an active solar
(UC §59-13-202)
system, a direct-use geothermal system, a geothermal
You may claim a credit of 24.5 cents per gallon for
heat-pump system, a hydro-energy system, or a passive
motor fuel and undyed diesel fuel bought in Utah to
solar system. Credit is also allowed for a commercial
operate stationary farm engines and self-propelled
system that uses wind, geothermal electricity, or bio-
farm machinery used solely for commercial nonhigh-
mass equipment.
way agricultural use if the fuel was taxed at the time
Get form TC-40E, Renewable Residential and Com-
it was bought.
mercial Energy Systems Tax Credits, from the Utah
Activities that do not qualify for this credit include (but are
Offi ce of Energy Development with their certifi cation
not limited to) the following: golf courses, horse racing,
stamp, verifying the credit is approved and showing
boat operations, highway seeding, vehicles registered
the amount of the approved credit. Do not send this
for highway use, hobbies, and personal farming.
form with your return. Keep the form and all related
documents with your records.
Credit calculation:
For more information, contact:
Gallons _______ x .245 = Credit _______
Utah Offi ce of Energy Development
There is no form for this credit. Keep all related docu-
PO Box 144845
ments with your records.
Salt Lake City, UT 84114-4845
(48) Farm Operation Hand Tools Credit
801-536-4235
energy.utah.gov
(UC §59-10-1105)
This credit is for sales and use tax paid on hand tools
(40) Targeted Business Tax Credit
purchased and used or consumed primarily and directly
(UC §63M-1-504)
in a farming operation in Utah. The credit only applies
A business may not claim the targeted business tax
if the purchase price of a tool is more than $250.
credit in a year the business has claimed either the
There is no form for this credit. Keep all related docu-
enterprise zone credit (nonrefundable credit, code
ments with your records.
07) or the recycling market development zone credit
(nonrefundable credit, code 10).
Page 18
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial