TC-40LI Rev. 12/10

Column I
Clear form
TC-40TCAC,
(Multiply Column G by Column H)
ZIP Code Tax year ending Utah Low-Income Housing Tax Credit $ $ $ TC-40TCAC
% % % % % % % % % % % %

Get forms online - tax.utah.gov

Column H credit owned
Taxpayer identification number Telephone number Percentage of state (Sum column I)
Total number of forms

State
Total Credit Allowed
Taxpayers must also keep form Column G
Multiply line 4 of form
TC-40TCAC by Column F $
% % % % % % % % % % % %

Column F by Column D
Divide Column E
Credit available to carry back or carry forward

Column E
Low-income housing credit per schedule K-1 $

Tax Credit Column D
Multiply Column C by line 2 form TC-40TCAC $
% % % % % % % % % % % %

Keep this form and all related documents with your records. Column C credit owned
Percentage of federal

Tax Credit Allocation Certification, completed by the Utah Housing Corporation, for each building listed in Column B of this Column B number (BIN)

Building identification IMPORTANT - PLEASE READ Refer to the instructions for your INCOME TAX (TC-40), CORPORATE TAX (TC-20 or TC-20S), or FIDUCIARY TAX (TC-41) return to determine the line number on which you will record this credit. The credit code is "08" for all returns.

Tax Commission
Column A
See procedures and instructions on the reverse side.
Name of building owner
Utah State Summary of Utah Low-Income Housing Utah law allows a nonrefundable tax credit against individual income tax, corporate franchise or income tax or fiduciary tax for owners of low-income housing projects that have received an allocation of the federal low-income housing credit. Do not send this form with your return. Utah Low-Income Housing form. Name of taxpayer claiming credit Address City Summary Worksheet of State Low-Income Housing Tax Credit Allowed

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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             or contact the Utah State
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Telecommunication Device for the Deaf (TDD) 801-297-2020.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        TC-40TCAC for each building.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    For detailed instructions regarding the carryback or carryforward of this credit, please                                                                                                                                                     TC-40TCAC provided by Utah Housing Corporation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             utahhousingcorp.org

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        Keep a copy of Form

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 TC-40TCAC.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        TC-40TCAC.                                                                                     The sum of the amounts in Column I is the credit that can be taken.                                                                                                                                                                                                                                                  Subtract the credit used in the current year from the total credit
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Do not enter more than 100%.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Tax Credit Carryback and/or Carryforward.
                                                                                                                                                                                                     Any owner of a low-income project that has received an allocation of the federal low-income housing tax credit and
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      Keep this form and all related documents with your records.You must complete a new form each year you claim

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 You must also keep a copy of each form

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 This form is to be completed for the tax year in which the credit is allowed.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              List the entity that owns the building(s) eligible for the low-income housing tax credit. List the Building Identification Number (BIN). List the percentage of federal low-income housing credit allocated to you by the building Multiply Column C  by Line 2 of Form Amount of federal low-income housing credit actually taken. Divide Column E by Column D.          Multiply Column F by Line 4 Form List the percentage of state low-income housing credit owned. Multiply Column G by Column H.                                                                                                                                            Enter the amount of credit applied against tax in the current year. This amount may not exceed your Utah tax liability in the current year.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             TC-40LIC, Utah Low-Income Housing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                This is the amount that may be carried back three years and forward five years.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              Column A:                                                                                 Column B:                                      Column C:                                                                                           Column D:                  Column E:                                                                               Column F: Column G:                        Column H:                                                     Column I:
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            297-2200 or toll free 1-800-662-4335 if outside the Salt Lake City area.-
General Procedures and Instructions Owners of low-income housing projects may take a nonrefundable credit against their individual income tax, corporate franchise tax or fiduciary tax in an amount determined by the Utah Housing Corporation.                                                                       any applicant for an allocation of the federal low-income housing credit may apply to the Utah Housing Corporation for this tax credit. Credit amounts greater than the Utah tax liability in the tax year in which the credit is earned following allocation by the Utah Housing Corporation may be carried back three years or may be carried forward to the following five taxable years.          see form                                 Do not send this form with your return.                                                                    a carryback or carryforward credit.             Worksheet Instructions:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Credit Available to Carryforward or Carryback:                    allowed.                                                                       If you need further information, see the Utah Housing Corporation's website at 801                                                                      If you need an accommodation under the Americans with Disabilities Act, call us at 801-297-3811 or                                                Please allow three working days for a response.