Form Tc-41 - Fiduciary Income Tax - 2012 Page 18
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31Page 16
2012 Utah Fiduciary Income Tax
The credit is calculated as follows:
Credit is also allowed for a commercial system that uses
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
1. Number of months or partial months
Development with their certifi cation stamp, verifying the
veteran employed in fi rst year
__________
credit is approved and showing the amount of the approved
2. Monthly credit allowable in fi rst year
200
credit. Do not send this form with your return. Keep the form
3. First year credit – line 1 times line 2
and 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)
$ __________
Any credit in excess of tax due will not be refunded, but
(40) Targeted Business Tax Credit
may be carried forward to offset tax for up to fi ve years.
(UC §63M-1-504)
Note: You may not claim this credit the same year you
The following documentation for the qualifi ed recently
claim the enterprise zone credit (nonapportionable
deployed veteran must be retained by the taxpayer to
nonrefundable credit, code 07) or the recycling market
support the credit claimed, and made available to the
development zone tax credit (nonapportionable nonre-
Tax Commission upon request:
fundable credit, code 10).
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,
3. Documentation establishing that the veteran was
Targeted Business Tax Credit. Keep this form and all
employed 45 out of the next 52 weeks after the state
related 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-
On TC-41A, write the code and amount of each re-
ship, LLP, LLC or S corporation) and received an income
fundable credit you are claiming. Total these credits,
distribution from them, you may have had Utah income
then subtract any refundable credits being distributed
tax withheld from your distribution.
to benefi ciaries on the Utah Schedule K-1. Enter the
Utah income tax withheld by a pass-through entity that
net amount of the credits being claimed on the fi duciary
is attributable to income you received but did not dis-
return and carry this amount to line 35 of your Utah TC-
tribute to your benefi ciaries may be claimed as a credit
41. Each refundable credit is explained below.
on the fi duciary return. Enter such withholding tax on
Keep all related documents, including credit forms, with
TC-41W, Part 3 and bring the total over to TC-41A, page
your records. You may have to provide this information
2, using code 43.
later to verify a credit claimed on your return.
If you distributed the income you received from the pass-
Codes for Refundable Credits - TC-41A Part 5
through entity to your benefi ciaries, the Utah income tax
39 Renewable Commercial Energy Systems Tax Credit
withheld must also be distributed to your benefi ciaries.
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
48 Farm Operation Hand Tools Credit
Keep Utah Schedule K-1s issued by the pass-through
(39) Renewable Commercial Energy Systems Tax
entity and all other related documents with your records.
Credit (UC §59-10-1106)
Do not attach them to your Utah return. Processing may
This credit is for reasonable costs, including installation, of
be delayed or the withholding tax credit disallowed if
a commercial energy system that is an active solar system,
you do not complete TC-41W, Part 3 with all required
a direct-use geothermal system, a geothermal heat-pump
information.
system, a hydro-energy system, or a passive solar system.
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