Carryforward of Pre-2016 Enterprise Zone Tax Credit (code 07)

UC §63N-2-213 and Rule R865-9I-37

This credit, as administered by the Tax Commission, expired for taxable years beginning after 2015.

If you claimed this credit on your return for a year before 2016 and the credit was more than the liability for that year, you may carry the excess credit forward through tax year 2018 or until the credit is used up, whichever comes first. Use code 07 for the carryforward. See the TC-40 instructions for the year in question.

You may not carry this credit into the same year you claim the recycling market development zone credit (code 10) or the targeted business credit (code 40). To take this credit for tax years beginning on or after January 1, 2016, you must get a certificate from the Governor’s Office of Economic Development.

For more information, contact:

Governor’s Office of Economic Development
60 E South Temple, 3rd Floor
Salt Lake City, UT 84111-1004
(801) 538-8804