Utah Historic Preservation Tax Credit

Historic Preservation Tax Credit
TC-40H, Historic Preservation Tax Credit
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Utah State Tax Commission

TC-40H

Historic Preservation Tax Credit

Get forms online - tax.utah.gov

Rev. 12/09

Utah law allows a nonrefundable credit against individual income tax or fiduciary tax for qualified rehabilitation
expenditures of a residential certified historic building. Taxpayers claiming this credit must complete one form for each
rehabilitation claimed. See procedure instructions on the reverse side.
Do not send this form with your return. Keep this form and all related documents with your records.
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 project.
Part A - To be completed by the taxpayer
Taxpayer's name

Telephone number

Social security number or EIN

Address

City

State and ZIP code

Part B - To be completed by the State Historic Preservation Office
Address of residential certified historic building

City

Certified historic residential building final certification number:

Date final certification number issued

State and ZIP code

Certification by the State Historic Preservation Office
I certify to the best of my knowledge and belief the information contained in Part B is true, correct and complete.
Authorized signature

Date signed

Title

Part C - To be completed by the taxpayer
Credit Calculation

/
/

1. Date of original project approval

1

2. Date project completed

2

3. Total amount of the historic preservation cost

3 $

4. Total amount of tax credit from project - multiply line 3 by 20% (.20)

4

5. Tax liability from tax return

5

6. Tax credit allowed - lesser of line 4 or line 5

6

Carryover of Excess Credit (if any)
7. Carryover from original year (subtract line 6 from line 4)

7

8. First carryover year

8

9. Second carryover year

9

10. Third carryover year

10

11. Fourth carryover year

11

12. Fifth carryover year

12

Refer to the income tax (TC-40) or fiduciary tax (TC-41) instructions
on how to claim this credit. Credit code is "06" for all returns.

Column A

Column B

Carryover year

Credit claimed in
carryover year

/
/

Column C
Previous year
Column C less
current year
Column B

No further carryover

General Instructions
A nonrefundable credit may be claimed against Utah individual income tax or fiduciary tax (see UC §59-10-1006)
of 20 percent of qualified rehabilitation expenditures costing more than $10,000 incurred in connection with any
residential certified historic building. When qualifying expenditures of more than $10,000 are incurred, the credit
shall apply to the full amount of the 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 S Rio Grande St, SLC, UT 84101; telephone 801-533-3500; history.utah.gov/historic_buildings/financial_
assistance/index.

Procedures
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 restoring 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 the approval of the complete project.
4. Projects must be completed 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 in Part C. Credit amounts greater than the amount of Utah tax
due in the initial credit 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 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.
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.