2004 Form Tc-20s Utah Corporation Franchise Or Income Tax Return And Instructions (Page 7 of 14) in pdf

Line 16 - Refundable Credits

Activities that DO NOT qualify for this credit include, but

are not limited to, the following: golf courses, horse

Add lines 16a through 16e.

racing, boat operations, highway seeding, vehicles

Write the code and amount of each refundable credit

registered for highway use, hobbies, and farming for

you qualify for on lines 16a through 16c. Enter the sum

personal use.

of all “refundable credits” on line 16. An explanation of

Calculate credit: Gallons _____ x .245 = Credit _____

each refundable credit follows the list below.

Codes for lines 16a through 16c

(48) Farm Operation Hand Tools (UCA §59-7-614.1)

40 Targeted Business Tax Credit

There is no form for this credit. Keep all related

documents (receipts, invoices, documents showing

46 Mineral Production Withholding Tax Credit

amount of sales or use tax paid) with your records.

47 Agricultural Off-highway Gas/Undyed Diesel Fuel

Tax Credit

The refundable credit is allowed for sales and use tax

48 Farm Operation Hand Tools

paid on hand tools purchased on or after July 1, 2004 and

used or consumed primarily and directly in a farming

(40) Targeted Business Income Tax Credit

operation in Utah. The credit applies only if the purchase

Obtain a certified copy of form TC-40TB, Targeted

price of a tool is more than $250.

Business Income Tax Credit. Keep this form and all

related documents with your records.

Line 16d - Total Prepayments

A refundable credit is available to businesses providing

A refundable credit is allowed for advance payments

a community investment project as defined in UCA §9-

made as quarterly prepayments and extension pay-

2-1801, §9-2-1802 and §9-2-1803.

ments (form TC-559). Include any overpayment from a

prior year that was applied to this year. Use Schedule E

The targeted business tax credit may not be claimed or

to compute the total prepayment.

carried forward into a year an enterprise zone tax credit

(Schedule N, code 07) or recycling market development

Line 16e - Amended Returns Only (Previous

zone tax credit (Schedule N, code 10) is claimed.

Payments)

Contact the Department of Community and Economic

This line should only be used for amended returns.

Development, 324 S State St., Suite 500, SLC, UT

Enter the amount of tax paid with the original return and/

84111, telephone (801) 538-8781;

or subsequent payments made prior to filing this amended

or email emeyer@utah.gov to obtain form TC-40TB,

return.

certification or for additional information.

Line 17 - Overpayment

(46) Mineral Production Withholding Tax Credit

If line 16 is larger than line 15, subtract line 15 from line

(R865-14W-1)

16.

Enter the total of the mineral production tax withheld as

shown on forms TC-675R or Federal Schedule K-1(s) for

Line 18 - Overpayment To Be Applied To Next

2004.

Taxable Year

Attach copies of form TC-675R or Federal Schedule

As a convenience to refund filers, all or part of a refund

K-1 to the return to receive proper credit.

may be applied as an advance payment for the next tax

year. Enter amount to be applied (must be less than or

(47) Agricultural Off-Highway Gas/Undyed Diesel

equal to refund).

Fuel Tax Credit (UCA §59-13-202)

Line 19 - Refund

There is no form for this credit. Keep all related docu-

Subtract line 18 from line 17 and enter amount on form

ments with your records.

TC-20S, line 4.

The credit is 24.5 cents per gallon only for motor fuel and

undyed diesel fuel purchased in Utah to operate station-

Line 20 - Total Tax

ary farm engines and self-propelled farm machinery

If line 15 is larger than line 16, subtract line 16 from line

used solely for commercial nonhighway agricultural use

15. Enter amount on form TC-20S, line 5

that was taxed at the time of purchase.

Instructions for Schedule E —

Prepayments of Any Type

Line 3

Line 1

List the date, check number and amount of all prepay-

Enter the total amount of all refunds applied from the

ments made for the filing period. Enter the total amount

prior year.

on line 3. Attach additional pages, if necessary.

Line 2

Line 4

List the date, check number and amount of extension

Add lines 1, 2 and 3. Enter the total on this line and on

prepayment.

Schedule A, line 16d.

Page 6

2004 Form Tc-20s Utah Corporation Franchise Or Income Tax Return And Instructions Page 7

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