Utah State Tax Commission
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Historic Preservation Tax Credit
Utah law allows a Utah resident a nonrefundable credit against individual income tax, corporate franchise tax or fiduciary tax for expenses incurred in connection with the qualified rehabilitation of any certified historic residential building. Do not send this form with your return. Keep this form and all related documents with your records. Taxpayers claiming this credit must complete one form for each rehabilitation claimed. See procedure instructions on the reverse side. Before claiming this credit, taxpayers must file an application for approval of all proposed rehabilitation work with the State Historic Preservation Office prior to the completion of restoration or rehabilitation work on the project.
Part A - To be completed by the taxpayer
Taxpayer's name Telephone number Social security number or EIN
State and ZIP code
Part B - To be completed by the State Historic Preservation Office
Address of residential certified historic building City State and ZIP code
The certified historic residential building indicated above has been issued the following final certification number:
Date final certification number was issued
Certification by the State Historic Preservation Office
I certify to the best of my knowledge and belief the information contained in Part B above is true and complete. Authorized signature Title Date signed
Part C - To be completed by the taxpayer Credit Calculation
1. Date of original project approval
2. Date project completed 3. Total amount of the historic preservation cost 4. Total amount of tax credit from project (multiply line 3 by .20) 5. Tax from tax return 6. Tax credit allowed (lesser of line 4 or line 5)
Column A Column B Credit claimed in carryover year
1 2 3 $ 4 5 6
Carryover of Excess Credit (if any) 7. Carryover from original year (subtract line 6 from line 4) 8. First carryover year 9. Second carryover year 10. Third carryover year 11. Fourth carryover year 12. Fifth carryover year
7 8 9 10 11 12
Column C Previous year Column C less current year Column B
Refer to the income tax (TC-40), corporate tax (TC-20 or TC-20S), or fiduciary tax (TC-41) instructions on how to claim this credit. Credit code is "06" for all returns.
Utah residents may take a nonrefundable credit against their individual income tax, corporate franchise tax or fiduciary tax of 20 percent of qualified rehabilitation expenditures costing more than $10,000 incurred in connection with any certified historic residential building. When qualifying expenditures of more than $10,000 are incurred, the credit shall apply to the full amount of expenditures. This credit is allowed only against any Utah tax owed beginning in the tax year in which the project receives final certification by the State Historic Preservation Office. Part B of this form must be completed and signed by an authorized representative of the State Historic Preservation Office, 300 Rio Grande, SLC, UT 84101; telephone (801) 533-3562; history.utah.gov/historic_preservation.
Taxpayers must file an application for approval of all proposed rehabilitation work with the State Historic Preservation Office prior to the completion of restoration or rehabilitation work on the project. The application shall be on a form provided by the Division of State History. It is recommended you file your application before starting work. Rehabilitation work must receive a unique certification number from the State Historic Preservation Office in order to be eligible for the tax credit. In order to receive final certification and be issued a unique certification number for the project the following conditions must be satisfied: 1. The project must be completed. 2. Upon completion of the project, the taxpayer shall notify the State Historic Preservation Office and provide that office an opportunity to review, examine and audit the project. In order to be certified, a project shall be completed in accordance with the previously approved plan and the Secretary of the Interior's "Standards for Rehabilitation." 3. Taxpayers rehabilitating buildings not already listed on the National Register of Historic Places shall submit a complete National Register Nomination Form. If the nomination meets National Register criteria, the State Historic Preservation Office shall approve the nomination. The building must be listed in the National Register within 3 years of certification. 4. Projects must be complete, and the $10,000 expenditure threshold met, within 36 months of the original project approval. 5. During the course of the project and for three years thereafter, all work done on the building shall comply with the Secretary of the Interior's "Standards for Rehabilitation." Taxpayers must calculate the amount of credit claimed against their income tax, corporate franchise tax or fiduciary tax in Part C. Credit amounts greater than the amount of Utah individual income tax, corporate franchise tax or fiduciary tax due in a tax year may be carried forward to each of the following five taxable years. Historic preservation tax credits carried forward shall be applied against Utah individual income tax, corporate franchise tax or fiduciary tax due before the application of any historic preservation credits earned in the current year and on a first-earned, first-used basis. Do not send this form with your return. Keep this form and all related documents with your records. You must complete a new form each year you claim a carryforward credit. If you need an accommodation under the Americans with Disabilities Act, contact the Tax Commission at (801) 297-3811 (TDD 297-2020). Please allow three working days for a response. If you need further information, please contact the Utah State Tax Commission at (801) 297-2200 or toll free 1-800-662-4335 if outside the Salt Lake City area.