Form Tc-40r - Recycling Market Development Zones Tax Credit
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Utah State Tax Commission
TC-40R
Recycling Market Development Zones Tax Credit
Get forms online - tax.utah.gov
Rev. 3/12
A taxpayer may not claim this credit or carry it forward into a year the taxpayer has claimed the targeted business income
tax credit or the enterprise zone tax credit.
The Governor's Office of Economic Development must sign and certify if you are seeking credit for machinery or equipment. See the
reverse side of this form for detailed instructions.
Do not send this form with your return. Keep this form and all related documents with your records. You must complete a
new Part D each year you claim a carryforward credit.
PART A - Taxpayer Information
Name of taxpayer claiming credit
Taxpayer's identification number (SSN or EIN)
Address
Telephone number
City, state, zip code
PART B - Qualified Purchases
Date
Purchase price
List machinery and equipment purchased
purchased
$
$
$
Total Purchases - Add all purchases in PART B
Total Credit Allowed
- Multiply total purchases by 5% .05)
(
Certification by the Governor's Office of Economic Development: I certify the machinery and equipment purchased are integral to the composting
or recycling process of the taxpayer named in PART A of this form and the named company is located within the boundaries of a recycling zone.
Authorized signature by GOED
Date signed
Title
PART C - Qualified Expenditures
Date
Amounts paid
List rent, wages paid, supplies, tools, test
Amounts paid
Date
List rent, wages paid, supplies, tools, test
during tax year
inventory, and utilities purchased
paid
during tax year
paid
inventory, and utilities purchased
$
$
$
$
$
$
Total Paid - Add all amounts paid in PART C
Total Credit Allowed - Multiply total paid by 20% (.20)
Do not enter more than $2,000 (see instructions)
PART D - Credit Calculation
1. Add total credits allowed from PART B and PART C. Enter sum on this line.
$
1
2. Multiply your Utah tax by 40% (.40). Non or part-year residents receive
2
an apportioned credit.
$
3. Enter the smaller of the amounts on line 1 or line 2. This is your tax credit.
3
IMPORTANT - PLEASE READ
Refer to the instructions for your INDIVIDUAL TAX (TC-40), CORPORATE TAX (TC-20 or TC-20S), PARTNERSHIP TAX (TC-65), or FIDUCIARY
TAX (TC-41) return to determine the amount of Utah tax and the line number on which you will record this credit.
The credit code is "10" for all returns.
PART E - Credit Carryover
Any unused amount of the total credit allowed under PART D, line 3, attributable to purchases of qualified machinery and
equipment under PART B, may be carried forward three years.
Applied to tax year:
1. Amount of tax credit carried forward - first year
$
1
2. Amount of tax credit carried forward - second year
2
3. Amount of tax credit carried forward - third year
3
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