California Form 3547 - Donated Agricultural Products Transportation Credit - 2016
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1
2Donated Agricultural Products
TAXABLE YEAR
CALIFORNIA FORM
2016
3547
Transportation Credit
Attach to your California tax return.
Name(s) as shown on your California tax return
SSN or ITIN
CA Corporation no.
FEIN
California Secretary of State file number
1 Eligible transportation costs. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
00
2 Current year credit. Multiply line 1 by 50% (.50). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
00
3 Pass-through donated agricultural products transportation credit(s) from
Schedule K-1 (100S, 541, 565, or 568). See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
00
4 Total current year donated agricultural products transportation credit. Add line 2 and line 3 . . . . . . . . . . . . . 4
00
5 Credit carryover from a prior year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
00
6 Total available donated agricultural products transportation credit. Add line 4 and line 5 . . . . . . . . . . . . . . . . 6
00
7 a Credit claimed. Enter the amount of the credit claimed on the current year tax return. See instructions
(Do not include any assigned credit claimed on form FTB 3544A.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7a
00
b Total credit assigned. Enter the total amount from form FTB 3544, column (g).
If you are not a corporation, enter -0-. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7b
00
8 Credit carryover available for future years. Add line 7a and line 7b, subtract the result from line 6. . . . . . . . . 8
00
General Information
Certification
You must receive a certificate from the nonprofit charitable organization
References in these instructions are to the Internal Revenue Code (IRC)
certifying that your agricultural product donation is in accordance with
as of January 1, 2015, and to the California Revenue and Taxation
the provisions of the California Food and Agricultural Code. You should
Code (R&TC).
retain this certificate and provide a copy to the FTB upon request.
A
Purpose
D
Definitions
Use form FTB 3547, Donated Agricultural Products Transportation
Agricultural product – Any fowl, animal, vegetable or other stuff, product
Credit, to figure the amount of credit allowed for the transportation of
or article which is customary or proper food for human beings.
agricultural products donated to nonprofit charitable organizations.
Also use this form to claim pass-through donated agricultural
Nonprofit charitable organization – A charitable organization that has
products transportation credits received from S corporations, estates,
exempt status under IRC Section 501(c)(3) or R&TC Section 23701d.
trusts, partnerships, or limited liability companies (LLCs) treated as
Transportation costs – Reasonable transportation or travel expenses
partnerships.
(including meals) incurred in performing services away from home for
S corporations, estates, trusts, partnerships, and limited liability
qualified organizations if no significant element of personal pleasure,
companies (LLCs) classified as partnerships should complete form
recreation, or vacation is involved. You may include parking fees and
FTB 3547 to figure the amount of credit to pass through to shareholders,
tolls in the actual transportation costs; however, you may not include
beneficiaries, partners, or members. Attach this form to Form 100S,
depreciation and insurance. You may determine eligible transportation
California S Corporation Franchise or Income Tax Return; Form 541,
costs in either of the following ways:
California Fiduciary Income Tax Return; Form 565, Partnership Return
y $.14 (fourteen cents) per mile
of Income; or Form 568, Limited Liability Company Return of Income.
y The actual transportation expenses
Show the pass-through credit for each shareholder, beneficiary, partner,
or member on Schedule K-1 (100S, 541, 565, or 568), Share of Income,
E
Limitations
Deductions, Credits, etc.
No credit will be allowed unless you have received a certificate from
B
Description
the donee nonprofit charitable organization certifying donation of the
agricultural products.
You are allowed a credit of 50% of the eligible transportation costs
paid or incurred in connection with the transportation of any donated
S corporations may claim only 1/3 of the credit against the 1.5% entity-
agricultural products donated to nonprofit charitable organizations.
level tax (3.5% for financial S corporations). The remaining 2/3 must be
disregarded and may not be used as carryover. S corporations may pass
C
Qualifications
through 100% of the credit to their shareholders.
To qualify for this credit, you must be engaged in the business of
If a C corporation had unused credit carryovers when it elected
processing, distributing, or selling agricultural products. You may claim
S corporation status, the carryovers were reduced to 1/3 and transferred
the credit for eligible transportation costs paid or incurred in connection
to the S corporation. The remaining 2/3 were disregarded. The allowable
with the donation of any agricultural product to a nonprofit charitable
carryovers may be used to offset the 1.5% tax on net income in
organization. If two or more taxpayers share in the expenses eligible
accordance with the respective carryover rules. These C corporation
for the credit, each taxpayer shall be eligible to receive the tax credit in
carryovers may not be passed through to shareholders. For more
proportion to their respective share of the expenses paid or incurred.
information, get Schedule C (100S), S Corporation Tax Credits.
FTB 3547 2016 Side 1
7371163
For Privacy Notice, get FTB 1131 ENG/SP.
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