3511 Form Fillable Environmental Tax Credit
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1 Ultra low sulfur diesel fuel produced (in gallons) See instructions 1 2 Multiply line 1 by 5 cents ( 05) 2 00 3 Qualified capital costs limitation See instructions 3 00 4 Total ultra low sulfur diesel fuel production credits allowed for all prior taxable years 4 00 5 Subtract line 4 from line 3 5 00 6 Enter the smaller of line 5 or line 2 6 00 7 Ultra low sulfur diesel fuel production credits from pass through entities: 8 Current year credit Add line 6 and line 7 8 00 9 Credit carryover from prior year(s) See instructions 9 00 California Secretary of State file number Diesel fuel with a sulfur content of 15 parts per million or less Has had at all times since January 1 1978 a crude oil capacity of not Has not been at any time since September 1 1988 owned or Other Taxes (Form 540 or Long Form 540NR) Other Taxes (Form 541 Line 21b) Part I Current Year Credit Schedule J (Form 100 100S or 100W) Schedule K (Form 109 565 or 568) The credit limitations previously mentioned The items for which qualified capital costs were paid or incurred are for The small refiner placed the items for which qualified capital costs were The tax and fee of an LLC The tax return filing requirements of an LLC This amount may be less than the amount on line 10 if your credit is limited by tentative minimum tax Vehicular diesel fuel produced and sold by a small refiner on or after (100S) S Corporation Tax Credits (Do not include any assigned credit claimed on form FTB 3544A ) 11a 00 (including tankage catalyst and power supply) engineering (LLCs) classified as partnerships for ultra low sulfur diesel fuel produced by (S corporations) (TMT) Get Schedule P (100 100W 540 540NR or 541) Alternative 1 Ultra low sulfur diesel fuel includes the following: 10 Total available environmental tax credit Add line 8 and line 9 10 00 11a Enter the amount of the credit claimed on the current year tax return See instructions 11b Credit Assigned to Other Corporations 11b Total credit assigned to other corporations within combined reporting group from 12 Credit carryover available for future years Add line 11a and line 11b subtract the result from line 10 12 00 13 Credit Recapture See instructions 13 00 15 parts per million or less 17053 62 and 23662 2 Small refiner is any refiner who owns or operates a refinery in California 3 Qualified capital costs with respect to the facility are costs paid or 4 Applicable period with respect to the facility is the period beginning 5 Facility is a small refiner s petroleum refinery located in California that 6 Applicable EPA regulations is the Highway Diesel Fuel Sulfur Control 7 Applicable CARB regulations is the Vehicular Diesel Fuel Sulfur Control 7291143 8 Barrels per stream day is the maximum number of barrels of input that a distillation facility can process within a 24 hour period when running A Purpose a small refiner located in California after January 1 2011 For more information get form FTB 3544 Election to against a prior year s tax If you have a carryover retain all records that allocated to you from a pass through entity (S corporation estate or trust allowance for downtime An SMLLC may be disregarded as an entity from its owner and is subject to and search for credit assignment Any credit amount previously claimed must be added back to your tax any facility located in California The aggregate credit for any taxable year with Assign Credit Within Combined Reporting Group or form FTB 3544A List Assigned Credits to Affiliated Corporations For taxable years beginning at full capacity under optimal crude and product slate conditions with no Attach to your California tax return B Description beginning on or after July 1 2005 and before January 1 2018 The Beneficiary beneficiary partner or member on Schedule K 1 (100S 541 565 or 568) Board may require access to these records built in gains tax (S corporations) or the excess net passive income tax by the affiliated corporation against its tax in taxable years beginning on or by the small refiner reduced by the aggregate C Qualifications CALIFORNIA FORM CARB regulations compliance with the applicable Environmental Protection Agency (EPA) construction period interest site work and permitting controlled by any refiner that at the same time owned or controlled corporation The remaining 2/3 were disregarded The allowable carryovers Corporations that complete form FTB 3544A for this credit enter the amount credits for all prior taxable years Current Year Credit D Definitions disregarded and may not be used as carryover In addition S corporations disregarded entity that can be utilized is limited to the difference between the divided document this credit and carryover used in prior years The Franchise Tax E Basis Enter 25% ( 25) of the qualified capital costs (defined in Part D Definitions) Enter the amount from your 2013 form FTB 3511 Part I line 12 Enter the number of gallons of diesel fuel produced with a sulfur content of Enter the total here and on one of the following California tax returns Environmental Tax Credit environmental tax credit is equal to five cents ($0 05) for each gallon of ultra F Limitations Figure the total credit on line 1 through line 6 Then allocate the line 6 credit For more information including basis reduction see R&TC For Privacy Notice get FTB 1131 ENG/SP for tax purposes is treated as a sole proprietorship owned by an individual for the facility that produces ultra low sulfur diesel fuel form FTB 3544 column (g) See instructions 11b 00 form FTB 3544A) from column (g) on this line FTB 3511 2014 Side 1 G Assignment of Credits General Information Get Form 568 Limited Liability Company Tax Booklet for more information group may be assigned to an affiliated corporation that is a member of the H Carryover has incurred qualified capital costs to produce ultra low sulfur diesel fuel identifies and supports through internal test reports as meeting applicable If a C corporation had unused credit carryovers when it elected S corporation If a taxpayer owns an interest in a disregarded business entity [a single If the available credit exceeds the current year tax liability the unused credit if the facility was sold or removed from California within five years of If you are a: incurred during the applicable period that meet both CARB and EPA instructions in your tax booklet for more information Use credit code 218 January 1 2004 and ending May 31 2007 June 1 2006 Or if sold before June 1 2006 the refiner specifically level tax (3 5% for financial S corporations) The remaining 2/3 must be liability limited See General Information F Limitations Also refer to the credit Line 1 Ultra Low Sulfur Diesel Fuel Produced Line 11a Credit Claimed (excluding assigned credits claimed on Line 13 Credit Recapture Line 3 Qualified Capital Costs Limitation Line 9 Credit Carryover from Prior Years low sulfur diesel fuel produced by a small refiner located in California Also low sulfur diesel fuel produced during the taxable year by a small refiner at may be carried over to the following year and the ten succeeding years until may be used to offset the 1 5% tax on net income in accordance with the may pass through 100% of the credit to their shareholders Member member limited liability company (SMLLC) not recognized by California and Minimum Tax and Credit Limitations for more information more than 55 000 barrels per stream day Name(s) as shown on your California tax return SSN or ITIN CA Corporation no FEIN of Assigned Credit Received and/or Claimed by Assignee or go to ftb ca gov of Division 3 of Title 13 of the California Code of Regulations of more than 137 500 barrels per stream day of ultra low sulfur diesel fuel associated adjacent or offsite equipment on or after July 1 2008 credit earned by members of a combined reporting or a branch owned by a corporation] the credit amount you receive from the or CARB regulations or schedules: or your tax liability own trade or business Page 2 FTB 3511 Instructions 2014 paid or incurred in service Part I Current Year Credit Part II Credit Recapture Partner partnership or LLC classified as a partnership) Partnership Return of Income; or Form 568 Limited Liability Company partnership) partnerships and LLCs classified as a partnership) the alternative minimum partnerships should complete form FTB 3511 to figure the amount of credit passed through to shareholders For more information get Schedule C purposes for example: reconstruction of existing process units to be used in the production refineries in California with a total combined crude oil capacity of refineries in the United States with a total combined crude oil capacity regulations The costs include but are not limited to expenditures Requirements of the CARB under Section 2281 of Article 2 of Chapter 5 Requirements of the EPA Resources Board (CARB) a certification that both of the following are true: respect to the facility cannot exceed 25% of the qualified capital costs incurred respective carryover rules These C corporation carryovers may not be Return of Income Show the pass through credit for each shareholder S corporation Estate or Trust Partnership or LLC (classified as a S corporations estates or trusts partnerships or limited liability companies S corporations estates trusts partnerships and LLCs classified as S corporations may claim only 1/3 of the credit against the 1 5% entity S corporations) the annual tax (limited partnerships limited liability same combined reporting group A credit assigned may only be claimed Schedule K 1 (100S) Schedule K 1 (541) Schedule K 1 (565) Schedule K 1 (568) Sections Share of Income Deductions Credits etc Shareholder Skip line 1 through line 6 if you are only claiming a credit that was Specific Line Instructions status the carryovers were reduced to 1/3 and transferred to the S statutory provisions that recognize otherwise disregarded entities for certain tax (corporations exempt organizations individuals and fiduciaries) Tax Return; Form 541 California Fiduciary Income Tax Return; Form 565 TAXABLE YEAR taxpayer s regular tax figured with the income of the disregarded entity and that: The amount of this credit that can be claimed on your tax return may be further The California environmental tax credit is available for each taxable year the construction of new process operation units or the dismantling and the credit is exhausted In no event can the credit be carried back and applied the date in which you first claimed the credit the taxpayer s regular tax figured without the income of the disregarded entity Then enter the credit(s) from: This credit cannot reduce regular tax below the tentative minimum tax This credit cannot reduce the minimum franchise tax (corporations and This credit is not refundable this form to Form 100S California S Corporation Franchise or Income to each shareholder or partner in the same way that income and loss are to pass through to shareholders beneficiaries partners or members Attach To qualify for this credit a small refiner must request from the California Air Use form FTB 3511 Environmental Tax Credit to figure the credit for ultra Use line 1 through line 6 to figure any environmental tax credit from your use this form to claim pass through environmental tax credits received from when you claim this credit