Form TC-40LIS Fillable Credit Share Summary of Low-Income Housing Project
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(Clear form) Clear form (Print form) Print form (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) 1) complete this form each year identifying the taxpayers who will share in the low income housing project tax credit; 2) allocate the credit to each taxpayer who will receive a share in the building project; 3) attach this form to his individual corporate franchise or fiduciary tax return; and 4) keep a copy of this form and all related documents with his tax records A separate form TC 40LIS must be completed for each building project in a multiple building project A The building project owner determines this percentage Column D should total 100 percent Address of building Building identification number (BIN) Building owner s identification number Column A Column A The building project owner determines this percentage Column C should total 100 percent Column A: Column B Column B: Column C Column C: Column D Column D: Column E Column E: Credit Owned credit The building owner must complete this form and attach it to his individual corporate franchise or fiduciary tax employer identification number formTC 40TCAC General Procedures and Instructions If the taxpayer in Column A is an individual enter their social security number All others enter their List each individual or entity who will share in the low income housing project tax credit List the percentage of the federal low income housing credit allocated to each individual or entity in List the percentage of the state low income housing credit allocated to each individual or entity in Column multiply Column D by line 4 of Name of building owner Percentage of Federal Percentage of Utah project This amount is calculated by taking the percentage in Column D and multiplying it by the annual return State state low income housing tax credit shown on line 4 of form TC 40TCAC Column E should total Line 4 of Tax year ending Taxpayer Taxpayer SSN or EIN TC 40LISCredit Share Summary of Low Income Housing Project Get forms online tax utah gov Rev 12/08 The building owner must: The building project owner uses this form to identify other taxpayers who will share in the low income housing project tax This is the amount of the state tax credit allocated to the taxpayer in Column A for the current year building Total Credit $ Utah Low income Housing Tax Credit Utah State Tax Commission Worksheet Instructions: This form is to be completed for the tax year in which the credit is allowed ZIP Code