Form Tc-20 - Utah Corporation Franchise Or Income Tax Return Instructions - 2011 Page 15
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25A refundable credit is available to businesses provid-
This does not include (but is not limited to) the following:
ing a community investment project as defi ned in
golf courses, horse racing, boat operations, highway
UC §§63M-1-501 through 63M-1-503. Get a certifi ed
seeding, vehicles registered for highway use, hobbies,
copy of form TC-40TB, Targeted Business Tax Credit.
and personal farming, etc.
Keep this form and all related documents with your
Credit calculation:
records.
Gallons _______ x .245 = Credit _______
To obtain form TC-40TB, certifi cation, and for more
There is no form for this credit. Keep all related docu-
information, contact:
ments with your records.
Governor’s Offi ce of Economic Development
324 S State St., Suite 500
(48) Farm Operation Hand Tools Credit
SLC, UT 84111
(UC §59-7-614.1)
801-538-8804
This credit is for sales and use tax paid on hand tools
goed.utah.gov/incentives/enterprise_zones
purchased and used or consumed primarily and directly
in a farming operation in Utah. The credit only applies
(43) Pass-through Entity Withholding Tax Credit
if the purchase price of a tool is more than $250.
(UC §59-7-614.4)
If a pass-through entity is required to withhold Utah
There is no form for this credit. Keep all related docu-
ments with your records.
income tax on any income attributable to this corpora-
tion under §59-10-1403.2, the pass-through entity must
Line 28 – Prepayments from Schedule E
provide a Utah Schedule K-1 showing the amount of
Credit is allowed for advance payments made as quarterly
Utah withholding paid on behalf of this corporation.
estimated tax payments, prepayments and extension
Enter this amount as a refundable credit using code 43.
payments (form TC-559). Include any overpayment from
Attach copies of Utah Schedule K-1(s) to the return to
a prior year that was applied to this year. Use Schedule
receive proper credit.
E to compute the total prepayment.
(46) Mineral Production Withholding Tax Credit
Line 29 – Amended Return Only
(UC §59-6-102)
This line is only for an amended return. Enter the amount
Enter the total of the mineral production tax withheld
of tax paid with the original return and/or subsequent
as shown on forms TC-675R or Utah Schedule K-1(s)
payments made prior to fi ling this amended return
for the tax year. For a fi scal year corporation, the credit
less any previous refunds (exclude refund interest).
is claimed on the corporate return required to be fi led
A net refund should be entered as a negative amount
during the year following the December closing period
(preceded by a minus sign).
of the form TC-675R.
Line 30 – Total Refundable Credits
Attach copies of form TC-675R or Utah Schedule K-1(s)
and Prepayments
to the return to receive proper credit.
Add lines 27 through 29. Carry this amount to TC-20,
page 1, line 8.
(47) Agricultural Off-Highway Gas/Undyed Diesel
Fuel Tax Credit (UC §59-13-202)
You may claim a credit of 24.5 cents per gallon for
motor fuel and undyed diesel fuel bought in Utah to
operate stationary farm engines and self-propelled
farm machinery used solely for commercial nonhigh-
way agricultural use if the fuel was taxed at the time
it was bought.
Page 13
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