Free TC-40V, Clean Fuel Vehicle Tax Credit (2009) - Utah

Utah State Tax Commission

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Clean Fuel Vehicle Tax Credit

TC-40V
Rev. 2/09

Do not send this form with the return. Keep this form and all related documents with your records. Utah law allows a nonrefundable credit against individual, corporation, or fiduciary tax for the purchase or conversion of a vehicle that uses cleaner burning fuels. Complete a separate form for each qualified vehicle. The credit may only be taken once per vehicle and must be certified and claimed in the taxable year in which purchased or converted. If the credit exceeds the tax liability for the year, the excess credit may be carried forward for up to five taxable years. See additional instructions on reverse side.

Part A This section must be completed by the taxpayer
Taxpayer's name Address Vehicle Identification Number Indicate the following: 1. The vehicle is fueled by: Telephone number City Social security number or EIN State and ZIP code

Propane

Natural gas

Electricity

Other___________

The vehicle meets federal Clean Air Act standards 2. New qualified vehicle OEM natural gas vehicle Converted vehicle
Column A Original purchase price of new qualified vehicle $ N/A N/A N/A $750 $750 $2,500 Column A $2,500 Column B Credit claimed in carryover year $1,000 Column C Subtract current year Col. B from previous year Col. C N/A $ 35%

Converted special mobile equipment
Column C Equipment to convert vehicle $ 50% $ 50% Column D Equipment to convert special mobile equip.

Calculation of Clean Fuel Vehicle Credit (complete applicable column - see instructions for column details) 3. Vehicle purchase price or cost of conversion equipment 4. Applicable credit percentage 5. Multiply line 3 by percentage on line 4 6. Amount of any clean fuel grant received 7. Subtract line 6 from line 5 8. Maximum credit allowed 9. Clean fuel vehicle credit (lesser of line 7 or line 8) Worksheet to Calculate Carryover of Excess Credit to Subsequent Years (if any) (subtract credit claimed 10. Carryover from original year from total of line 9 above) 11. First carryover year 12. Second carryover year 13. Third carryover year 14. Fourth carryover year 15. Fifth carryover year

Column B Purchase of qualified vehicle fueled by CNG

Carryover year

No further carryover

Part B This section must be completed by the Division of Air Quality, Department of Environmental Quality
To the best of my knowledge and belief, the information contained in Part A above is true and correct. DEQ authorized signature (required) X Title Date signed DEQ original stamp of approval (required)

IMPORTANT - PLEASE READ The Air Quality certification signature may be obtained by mailing or presenting this form with the required documentation to Division of Air Quality, 150 North 1950 West, SLC, UT 84116, telephone 801-536-4000 or fax to 801-536-0085. IMPORTANT: Refer to the instructions for your Income (TC-40), Corporation (TC-20 or TC-20S), or Fiduciary (TC-41) tax return to determine the line number on which you will record this credit. The credit code is "05" for all returns. For further information regarding the tax credit, contact the Utah State Tax Commission at 801-297-2200 or if outside the Salt Lake area 1-800-662-4335.

2009 Instructions for the Clean Fuel Vehicle Tax Credit - TC-40V
Taxpayers may claim a nonrefundable tax credit against Utah individual income tax, corporate franchise tax or fiduciary tax. (See Utah Code section 59-7-605 and 59-10-1009) The credit may only be taken once per vehicle. It must be certified and claimed in the taxable year in which the item is purchased or converted. Column A - New Vehicle Meeting Air Quality and Fuel Economy Standards and Not Fueled by Compressed Natural Gas A qualified vehicle is an original purchase, registered and titled for the first time in Utah, and having less than 7,500 miles. The vehicle must be certified by the Department of Environmental Quality and meet both of the following standards: 1. Fuel Economy Standards a. at least 31 miles per gallon for gasoline-fueled vehicles; b. at least 36 miles per gallon for diesel-fueled vehicles; c. at least 19 miles per gallon for vehicles fueled by a blend of 85% ethanol and 15% gasoline; d. at least 19 miles per gallon for liquified petroleum gas-fueled vehicles; or e. meet standards consistent with 40 C.F.R. 600.209-95(d) that are adopted by the Air Quality Board by rule. 2. Air quality standards which are equal to or cleaner than the standards established in bin 2 in Table S04-1, of 40 C.F.R. 86.1811-04(c)(6). The credit amount is $750. Column B - OEM Vehicle Fueled by Compressed Natural Gas A qualified vehicle is one fueled by compressed natural gas, and is registered in Utah. The credit is equal to the lesser of 35% of the purchase price of the vehicle or $2,500. Column C - Equipment to Convert Vehicle to Run on Propane, Natural Gas, Electricity, or Other Approved Fuel A qualified vehicle must be registered in Utah and meet one of the following conditions: 1. It converts the engine to be fueled by propane, compressed natural gas, or electricity; 2. It converts the engine to be fueled by another fuel determined by the Air Quality Board to be as effective as the above listed fuels, or 3. It converts the vehicle to meet the clean-fuel vehicle standards in the federal Clean Air Act. The credit is the lesser of 50% of the cost of the conversion equipment - less any clean fuel grant received or $2,500. Column D - Equipment to Convert Special Mobile Engine to Operate on Propane, Natural Gas, Electricity, or Other Approved Fuel A qualified vehicle must meet one of the following conditions: 1. It converts the engine to be fueled by propane, compressed natural gas, or electricity; 2. It converts the engine to be fueled by another fuel determined by the Air Quality Board to be as effective as the above listed fuels, or 3. It converts the engine to be substantially more effective in reducing air pollution than the fuel for which the engine was originally designed. The credit is the lesser of 50% of the cost of the conversion equipment less any clean fuel grant received or $1,000. Procedures 1. If you have purchased a qualifying vehicle or converted a vehicle or special mobile equipment engine, submit the required documentation with a completed form TC-40V to the Division of Air Quality. Information for obtaining clean fuel vehicle certification is located in the Utah Administrative Code as follows: R307-121-3: Demonstration of Eligibility for OEM Compressed Natural Gas Vehicles R307-121-4: Demonstration of Eligibility for Motor Vehicles that meet Air Quality and Fuel Economy Standards R307-121-5: Demonstration of Eligibility for Motor Vehicles Converted to Natural Gas or Propane R307-121-6: Demonstration of Eligibility for Motor Vehicles Converted to Electricity R307-121-7: Demonstration of Eligibility for Special Mobile Equipment Converted to Clean Fuels 2. The taxpayer must receive certification from the Division of Air Quality. The credit is not valid unless both an authorized signature and certification stamp are present. 3. Complete the calculation of the credit in Part A. Carryover credits may be recorded on lines 10 through 15. 4. Refer to the return instructions to determine the line number on which to record this credit. The credit code is "05" for all returns. 5. Do not send this form with your return. Keep this form and all related documents with your records.