Form Urt-1 - Indiana Utility Receipts Tax Return - 2012 Page 6
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8Line 19. If applicable, enter the amount of utility re-
For more information, contact the Indiana Economic
ceipts tax overpayment carried over from a prior tax-
Development Corporation, One North Capitol, Suite
able period on line (a). Enter on line (b) the amount
700, Indianapolis, IN 46204. You can also visit their
of payment made resulting from an extension of time
website at and get Information
to file the return for the taxable year. Combine the
Bulletin #99 at
amounts and enter the total on line 19c.
Enter 8 0 6 on line 20a on Form URT-1 if claiming
Line 20. Other tax liability credits: Claim other al-
this credit. Enclose a copy of the utility regulatory
lowable tax liability credits by entering the name of
commission’s determination and the certificate of
the credit program. On line 20a, enter the three-digit
compliance issued by the IEDC with your return.
credit ID code number, and on line 20b, enter the
amount of your approved credit. As a nonrefundable
Voluntary Remediation Tax Credit
836
tax liability credit, the amount is generally limited to
A voluntary remediation state tax credit is available
the tax on line 16. If your claim exceeds the amount of
for qualified investments involving the redevelopment
your tax liability, you must adjust by recalculating the
of a brownfield and environmental remediation. The
credit to the amount that you can apply.
Indiana Department of Environmental Management
and the Indiana Development Finance Authority must
A claim for credit must be filed in coordination with
determine and certify that the costs incurred in a vol-
the amount of credit applied, if any, against other taxes
untary remediation are qualified investments. The to-
such as the annual AGI tax. A detailed explanation or
tal amount of credits that can be granted in each state
supporting schedule must be enclosed with the return
fiscal year is limited to $2 million and must be claimed
when claiming any credit on line 20. See Information
in a taxable year that begins before Dec. 31, 2007,
Bulletin #59 ( ) for more
excluding carryforwards. Carryover of prior unused
information about Indiana tax credits.
credit can be carried back only one year or carried
forward up to five years. For additional information,
The following two credits are available for reducing
contact the Indiana Department of Environmental
utility receipts tax.
Management, 100 N. Senate Ave., Room N-1101,
Indianapolis, IN 46204. You can also visit their web-
Coal Gasification Technology
site at
Investment Tax Credit
806
Enter 8 3 6 on line 20a on Form URT-1 if claiming
A credit is available for a qualified investment in an
integrated coal gasification power plant or a fluidized
this credit. Enclose with your return proof of certifica-
bed combustion technology that serves Indiana gas
tion and amounts paid.
and electric utility consumers. This can include an in-
Line 21. Total of all payments and credits. Add the
vestment in a facility located in Indiana that converts
coal into synthesis gas that can be used as a substitute
amounts on lines 18, 19c, and 20b.
for natural gas.
Line 22. Net tax due. Enter the difference if the sum of
You must file an application for certification with the
lines 16 and 17 is greater than line 21. If not, proceed
Indiana Economic Development Corporation (IEDC).
to line 23 and line 27.
If the credit is assigned, it must be approved by the
Line 23. Penalty for underpayment of estimated tax.
utility regulatory commission and taken in 10 annual
installments. The amount of credit for a coal gasifica-
Complete and enclose Schedule URT- 2220.
tion power plant is 10 percent of the first $500 million
Note: If your annual liability exceeds $2,500, you must
invested and 5 percent of any amount over that. The
amount of credit for a fluidized bed combustion tech-
file quarterly estimated payments to remit 25 percent
nology is 7 percent of the first $500 million invested
of your estimated annual tax liability.
and 3 percent of any amount over that.
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