Click on description for additional information
| Tax Year | |||||
|---|---|---|---|---|---|
| 2007 | 2006 | 2005 | 2004 | Description | Code |
| X | X | X | X | At-Home Parent | 01 |
| X | X | X | X | Qualified Sheltered Workshop Cash Contribution | 02 |
| X | X | X | X | Renewable Energy Systems | 03 |
| X | X | X | X | Clean Fuel Vehicle | 05 |
| X | X | X | X | Historic Preservation | 06 |
| X | X | X | X | Enterprise Zone | 07 |
| X | X | X | X | Low-Income Housing | 08 |
| – | X | X | X | Hiring Disabled Persons | 09 |
| X | X | X | X | Recycling Market Development Zone | 10 |
| X | X | X | X | Tutoring Disabled Dependents | 11 |
| X | X | X | X | Increasing Research Activities | 12 |
| X | X | X | X | Research Machinery and Equipment | 13 |
| X | X | X | X | Taxes Paid to Another State | 17 |
| X | X | X | – | Live Organ Donation Expenses | 19 |
| X | – | – | – | Renewable Residential Energy Systems | 21 |
There is no form for this credit. Keep all related documents with your records.
An at-home parent may claim a nonrefundable credit of $100 for each child who is not more than 12 months old on the last day of the taxable year for which the credit is claimed. For purposes of this credit an at-home parent includes:
To qualify for the credit all of the following criteria must be met:
There is no form for this credit. Keep all related documents with your records.
Note: The name of the qualified workshop must be written on the TC-40S Part 4 to claim this credit.
Cash contributions made within the tax year to a qualified nonprofit rehabilitation sheltered workshop facility operating in Utah for persons with disabilities are eligible for a credit against Utah income taxes. Check with the workshop to make sure they have a current Day Training Provider License or Day Support Provider Certificate issued by the Department of Human Services. The credit is equal to 50 percent of the total cash contributions, and may not exceed $200. Contributions claimed as a tax credit under this section may not also be claimed as a charitable deduction in determining federal taxable income.
For more information, contact:
Contract Administrator
Division of Services for People with Disabilities
120 N 200 W #411
SLC, UT 84103
Telephone: (801) 538-4200
If you claimed a nonrefundable renewable energy systems tax credit on your 2003, 2004, 2005, or 2006 income tax return, and the tax credit was in excess of your tax liability for the year claimed, the excess credit may be carried over to the four succeeding years. If you have any excess credit that was not used against a subsequent tax year liability, and are carrying over that excess credit to 2007, enter the unused carrover on TC-40S, Part 4, Code 03
Complete form TC-40V, Clean Fuel Vehicle Tax Credit, with the Division of Air Quality approval stamp, verifying the credit has been approved. Do not send form TC-40V with your return. Keep the form and all related documents with your records.
To qualify, you must have:
Note: For tax years beginning after 2005, the clean fuel vehicle credit is no longer available for electric-hybrid vehicles. For tax years beginning on or after January 1, 2002, and on or before December 31, 2005, a hybrid vehicle qualifies only if the same vehicle model is manufactured without the clean-fueling system and the hybrid vehicle otherwise meets the requirements for a clean fuel vehicle.
Contact the Division of Air Quality, 150 N 1950 W, SLC, UT 84116; telephone (801) 536-4029 to obtain form TC-40V, approval and for additional information.
Complete form TC-40H, Historic Preservation Tax Credit, with the State Historic Preservation Office certification, verifying the credit has been approved. Do not send form TC-40H with your return. Keep the form and all related documents with your records.
Only Utah residents are allowed this credit. The credit is for costs incurred in connection with qualified rehabilitation of any certified historic residential building. Unused credits may be carried forward five years as a credit against Utah tax due.
Contact the State Historic Preservation Office, 300 Rio Grande, SLC, UT 84101; telephone (801) 533-3503; history.utah.gov/historic_preservation to obtain form TC-40H, certification, and for additional information.
An individual may not claim this credit or carry this credit forward into a year the individual has claimed the recycling market development zone credit (nonrefundable credit, code 10) or the targeted business income tax credit (refundable credit, code 40).
There is no form for this credit. Keep all related documents with your records.
The Enterprise Zone Credit is available for certain businesses that hire new full-time employees, rehabilitate buildings or meet certain other requirements in a designated zone.
Any credit amount exceeding the tax owed may be carried forward for three consecutive years.
Indian tribes may apply for enterprise zone designation within an Indian reservation.
If enterprise zone credits are being taken on your ownership in a partnership or S corporation, you must allocate the credits calculated above based on your respective percentage of ownership.
Contact the Governor's Office of Economic Development, 324 S State St, Suite 500, SLC, UT 84111; telephone (801) 538-8775; goed.utah.gov/incentives/ enterprise_zones to obtain additional information.
UC §59-10-1010
Individuals sharing in the credit must obtain form TC-40TCAC, Utah Low-Income Housing Tax Credit Allocation Certification, and complete form TC-40LI, Summary of Utah Low-Income Housing Tax Credit. If you are carrying this credit forward or backward, you must also complete form TC-40LIC, Utah Low-Income Housing Tax Credit Carryback and/or Carryforward. Do not send these forms with your return. Keep the forms and all related documents with your records.
The building project owner must also complete and attach form TC-40LIS, Credit Share Summary of Low-Income Housing Project to the return.
This credit is an amount, determined by the Utah Housing Corporation, for the owners of a low-income housing project who have also received an allocation of the federal low-income housing tax credit. Unused credits may be carried back three years or carried forward five years.
When this credit is applicable, the project owner will provide form TC-40TCAC (issued by the Utah Housing Corporation) to the taxpayer.
For more information, go to the Utah Housing Corporation website at www.utahhousingcorp.org.
UC §59-10-1007
An individual may not claim this credit or carry this credit forward into a year the individual has claimed the enterprise zone credit (nonrefundable credit, code 07) or the targeted business income tax credit (refundable credit, code 40).
Complete form TC-40R, Recycling Market Development Zone Tax Credit with the Governor's Office of Economic Development certification verifying the credit has been approved. Do not send form TC-40R with your return. Keep the form and all related documents with your records.
The credit is available to individuals and businesses operating in a designated recycling market development zone as defined in UC §63-38f-1102.
Contact the Governor's Office of Economic Development, 324 S State St, Suite 500, SLC, UT 84111; telephone (801) 538-8804; goed.utah.gov/incentives/ recycling_zones or email lprall@utah.gov to obtain form TC-40R, certification and for additional information.
UC §59-10-1011
There is no form for this credit. Keep all related documents with your records.
The credit is 25 percent of the costs paid by the taxpayer for tutoring each disabled dependent, and may not exceed $100.
A disabled dependent is defined as a person who:
Tutoring, for purposes of this credit, means educational services approved by an individual education plan team and provided to a disabled dependent that supplements classroom instruction the dependent receives at a public or private kindergarten, elementary, or secondary school in Utah.
Tutoring does not include:
Contact the Utah State Board of Education at (801) 538-7587 for additional information.
UC §59-10-1012
There is no form for this credit. Keep all related documents with your records.
The credit is for expenses incurred for increasing qualified research activities in Utah. A qualifying taxpayer may claim the credit in the taxable year immediately following the taxable year for which the taxpayer qualifies for the credit. The credit is nonrefundable, meaning it may not exceed the tax due for the year, but any excess credit may be carried forward for 14 years.
UC §59-10-1013
There is no form for this credit. Keep all related documents with your records.
The credit is for machinery, equipment, or both used primarily for conducting qualified research or basic research in Utah for not less than 12 consecutive months. A qualifying taxpayer may claim the credit in the taxable year immediately following the taxable year for which the taxpayer qualifies for the credit. Any excess credit may be carried forward for 14 years.
A Utah resident or part-year resident whose income is taxed by Utah AND another state(s), the District of Columbia, or a possession of the United States, may be entitled to a credit against Utah income tax for the amount of tax paid to the other state(s).
Part-year residents will rarely qualify for this credit, as Utah and other states apportion income and only tax the income earned while a resident of that state. To qualify, the income must be:
Part-year residents must prorate the tax paid to other state(s). The credit only applies to the portion of the actual taxes paid on income that was taxed in both Utah and the other state.
Complete and attach form TC-40A, Credit for Tax Paid to Another State. If there are two or more states, use a separate TC-40A for each state. Examples of how to calculate the credit are located here. Keep a copy of the other state's return and all related documents with your records.
Do not use the state income tax withheld from form W-2 as the taxes paid to the other state. You must complete and file the other state's return to determine the amount of taxes paid. You may be asked to furnish additional information later to verify this credit.
A living donor may claim a credit for up to $10,000 of qualified expenses incurred for the donation of human bone marrow, or any part of an intestine, kidney, liver, lung or pancreas for transplanting in another individual. Qualified expenses are those incurred by the taxpayer or dependent for travel, lodging or a "lost wage" and not reimbursed by any person.
If qualified, complete form TC-40T, Live Organ Donation Expenses Credit . Do not send form TC-40T with your return. Keep the form and all related documents with your records.This nonrefundable credit is for the reasonable costs, including installation, of a residential energy system that supplies energy required for a residential unit in Utah. Additional residential energy systems of parts may be claimed in subsequent years as long as the total amount claimed does not exceed $2,000 per residential unit.
If the residence is sold to another, who is not a business entity, before claiming the tax credit, the taxpayer may irrevocably transfer to the new owner the right to the tax credit.
The principal portion of lease payments for a residential energy system may qualify for the credit, if the lessor irrevocably transfers to the new owner the right to the tax credit.
Credit in excess of the taxpayer's liability may be carried forward to the four succeeding years.
