Form PA-40 (PA-41) Schedule OC "Other Credits" - Pennsylvania

What Is Form PA-40 (PA-41) Schedule OC?

This is a legal form that was released by the Pennsylvania Department of Revenue - a government authority operating within Pennsylvania.The document is a supplement to Form PA-40, Pa Schedule F - Farm Income and Expenses. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on August 1, 2020;
  • The latest edition provided by the Pennsylvania Department of Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form PA-40 (PA-41) Schedule OC by clicking the link below or browse more documents and templates provided by the Pennsylvania Department of Revenue.

ADVERTISEMENT
ADVERTISEMENT

Download Form PA-40 (PA-41) Schedule OC "Other Credits" - Pennsylvania

Download PDF

Fill PDF online

Rate (4.5 / 5) 35 votes
Page background image
2003010051
PA SCHEDULE OC
Other Credits
PA-40/PA-41 OC (EX) MOD 08-20 (FI)
20___
PA Department of Revenue
OFFICIAL USE ONLY
Name of the individual or fiduciary claiming the credit(s).
Identification Number
START
If you received more than one type of other (restricted) credit as an owner of a pass-through entity, that entity should have provided
you with a breakdown by credit type of the amounts of credits you are eligible to claim. Enter the amount from the breakdown statement
on the appropriate lines of this schedule. If all tax credits listed on this schedule are passed through to you from pass-through entities
and the amount on that schedule does not include a resident credit from another state, the total on Line 22 should equal the sum of
the amounts of Total Other Credits from Line 9 of your RK-1(s) or Line 7 of your NRK-1(s).
Credit
Awardee Tax
Description
Code
ID Number
1. PA Employment Incentive Payments Credit. . . . . . . . . . . . . . . . .
1.
2. PA Job Creation Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3. PA Research and Development Tax Credit. . . . . . . . . . . . . . . . .
3.
4. PA Film Production Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
5. PA Keystone Innovation Zone Tax Credit . . . . . . . . . . . . . . . . . .
5.
6. PA Resource Enhancement and Protection Tax Credit . . . . . . . .
6.
7. PA Neighborhood Assistance Program Tax Credit . . . . . . . . . . .
7.
8. PA Educational Improvement Tax Credit . . . . . . . . . . . . . . . . . . .
8.
9. PA Opportunity Scholarship Tax Credit . . . . . . . . . . . . . . . . . . . .
9.
10. Keystone Special Development Zone Tax Credit . . . . . . . . . . . .
10.
11. Historic Preservation Incentive Tax Credit . . . . . . . . . . . . . . . . . .
11.
12. PA Organ and Bone Marrow Donor Tax Credit . . . . . . . . . . . . . .
12.
13. PA Coal Refuse Energy and Reclamation Tax Credit . . . . . . . . .
13.
14. Mixed-Use Development Tax Credit . . . . . . . . . . . . . . . . . . . . . .
14.
15. Entertainment Economic Enhancement Program Tax Credit . . .
15.
16. Video Game Production Tax Credit . . . . . . . . . . . . . . . . . . . . . . .
16.
17. Waterfront Development Tax Credit . . . . . . . . . . . . . . . . . . . . . . .
17.
18. Manufacturing and Investment Tax Credit . . . . . . . . . . . . . . . . . .
18.
19. PA Resource Manufacturing Tax Credit . . . . . . . . . . . . . . . . . . . .
19.
20. Beginning Farmers Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . .
20.
21. Other restricted credits not listed above. Enter type:
.
21.
22. Total PA Other Credits. Add Lines 1 through 21. Enter the total here
and on Line 23 of Form PA-40 or Line 16 of Form PA-41. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
22.
2003010051
2003010051
Reset Entire Form
TOP OF PAGE
NEXT PAGE
PRINT
2003010051
PA SCHEDULE OC
Other Credits
PA-40/PA-41 OC (EX) MOD 08-20 (FI)
20___
PA Department of Revenue
OFFICIAL USE ONLY
Name of the individual or fiduciary claiming the credit(s).
Identification Number
START
If you received more than one type of other (restricted) credit as an owner of a pass-through entity, that entity should have provided
you with a breakdown by credit type of the amounts of credits you are eligible to claim. Enter the amount from the breakdown statement
on the appropriate lines of this schedule. If all tax credits listed on this schedule are passed through to you from pass-through entities
and the amount on that schedule does not include a resident credit from another state, the total on Line 22 should equal the sum of
the amounts of Total Other Credits from Line 9 of your RK-1(s) or Line 7 of your NRK-1(s).
Credit
Awardee Tax
Description
Code
ID Number
1. PA Employment Incentive Payments Credit. . . . . . . . . . . . . . . . .
1.
2. PA Job Creation Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3. PA Research and Development Tax Credit. . . . . . . . . . . . . . . . .
3.
4. PA Film Production Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
5. PA Keystone Innovation Zone Tax Credit . . . . . . . . . . . . . . . . . .
5.
6. PA Resource Enhancement and Protection Tax Credit . . . . . . . .
6.
7. PA Neighborhood Assistance Program Tax Credit . . . . . . . . . . .
7.
8. PA Educational Improvement Tax Credit . . . . . . . . . . . . . . . . . . .
8.
9. PA Opportunity Scholarship Tax Credit . . . . . . . . . . . . . . . . . . . .
9.
10. Keystone Special Development Zone Tax Credit . . . . . . . . . . . .
10.
11. Historic Preservation Incentive Tax Credit . . . . . . . . . . . . . . . . . .
11.
12. PA Organ and Bone Marrow Donor Tax Credit . . . . . . . . . . . . . .
12.
13. PA Coal Refuse Energy and Reclamation Tax Credit . . . . . . . . .
13.
14. Mixed-Use Development Tax Credit . . . . . . . . . . . . . . . . . . . . . .
14.
15. Entertainment Economic Enhancement Program Tax Credit . . .
15.
16. Video Game Production Tax Credit . . . . . . . . . . . . . . . . . . . . . . .
16.
17. Waterfront Development Tax Credit . . . . . . . . . . . . . . . . . . . . . . .
17.
18. Manufacturing and Investment Tax Credit . . . . . . . . . . . . . . . . . .
18.
19. PA Resource Manufacturing Tax Credit . . . . . . . . . . . . . . . . . . . .
19.
20. Beginning Farmers Tax Credit . . . . . . . . . . . . . . . . . . . . . . . . . . .
20.
21. Other restricted credits not listed above. Enter type:
.
21.
22. Total PA Other Credits. Add Lines 1 through 21. Enter the total here
and on Line 23 of Form PA-40 or Line 16 of Form PA-41. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
22.
2003010051
2003010051
Reset Entire Form
TOP OF PAGE
NEXT PAGE
PRINT
Instructions for PA-40/PA-41 Schedule OC
Other Credits
PA-40/PA-41 OC IN (EX) 08-20
If more than one code applies for any line, submit a state-
WHAT’S NEW
ment to describe the credit or credits you are claiming on
this schedule.
The Beginning Farmers Tax Credit has been added to PA
Schedule OC. For additional information about the Beginning
Awardee Tax ID Number: If the business or farm that is
Farmers Tax Credit and any other credit included on this
awarded the credit reports its income on PA Schedule C or
schedule, please refer to the department’s website at
PA Schedule F, respectively, enter the SSN of the taxpayer
who owns the business or farm in the Awardee Tax ID Num-
www.revenue.pa.gov.
ber column. If the credit is a purchased or assigned credit,
enter the seller’s EIN or SSN in the Awardee Tax ID Number
GENERAL INFORMATION
column. If the credit was passed through from a pass-
Joint Filing of Returns Information: A taxpayer and/or
through entity, enter the EIN of the pass-through entity.
spouse claiming the PA REAP Tax Credit on Line 6, the PA
If an Educational Improvement Tax Credit (EITC) or Oppor-
Educational Improvement Tax Credit on Line 8 or the PA Op-
tunity Scholarship Tax Credit (OSTC) was passed through
portunity Scholarship Tax Credit on Line 9 may file a joint
by a pass-through entity to another pass-through entity,
PA-40 return if one or both are claiming any one or each of
enter the EIN of the original pass-through entity that received
these three tax credits. In addition, the tax credits for Lines
the credit before it was passed through by the next pass-
6, 8 and 9 earned by the taxpayer may offset the tax liability
through entity. If an EITC or OSTC was passed through by
of the spouse and vice versa.
a QSST to the beneficiary of the QSST, the beneficiary
should enter the EIN of the original pass-through entity that
IMPORTANT: A taxpayer and spouse must file sepa-
received the credit before it was passed through to the
rate PA-40 returns if one or both are claiming any of
QSST.
the tax credits on Lines 1 through 5, Line 7 and/or Lines 10
IMPORTANT: If you are claiming credits from a pass-
through 21 of this schedule.
through entity of which you are an owner, verify with the
NOTE: To obtain additional information and detailed
entity that it contacted the Bureau of Business Taxpayer Ac-
instructions regarding the other (restricted) credits
counting, Account Maintenance Corporation Tax Division (for-
claimed on this form,visit the department’s website at
merly known as the Bureau of Corporation Taxes, Accounting
www.revenue.pa.gov.
Division), to pass through the credit. Listing the amount of
credit on the owner’s individual RK-1 or NRK-1 is not suffi-
FORM INSTRUCTIONS
cient to pass through the credit. Contact information for the
Bureau of Business Taxpayer Accounting, Account Mainte-
If you apply for and are awarded credits listed on this sched-
nance Corporation Tax Division is on the credit award letter.
ule, enter the amount of each credit you are utilizing on the
CAUTION: If you received an Out-of State Credit
appropriate line. If you are a shareholder of a PA S corpora-
listed on Line 9, Other Credits, of PA Schedule RK-1,
tion or a partner in a partnership, enter your share of each
report that credit on PA-40 Schedule G-L, Resident Credit
credit from your PA Schedule RK-1 or PA Schedule NRK-1.
for Taxes Paid to Other States. See the instructions for PA-
40 Schedule G-L and PA-20S/PA-65 Schedule OC for addi-
CREDIT DESCRIPTION CODES
tional information.
For each credit you are claiming, enter the Credit Description
Code that applies to the credit. Choose from the following
LINE INSTRUCTIONS
codes:
• CY – for current year credits awarded directly to the
1. PA Employment Incentive Payments Credit
taxpayer;
See Note 1 on the next page.
• PT – for credits received from pass-though entities;
2. PA Job Creation Tax Credit
• PA – for credits purchased from or assigned by another
See Note 2 on the next page.
taxpayer; or
3. PA Research and Development Tax Credit
• CO – for credits carried over from a prior year.
See Note 2 on the next page.
www.revenue.pa.gov
PA-40/PA-41 OC
1
PREVIOUS PAGE
NEXT PAGE
PRINT
4. PA Film Production Tax Credit
22. Total PA Other Credits
See Note 2 below.
Add Lines 1 through 21. Enter the total here and on Line
23 of Form PA-40 or Line 16 of Form PA-41.
5. PA Keystone Innovation Zone Tax Credit
See Note 2 below.
NOTE 1: If you have a previously awarded credit that
was unused and carried forward, enter the amount of
6. PA Resource Enhancement and Protection Tax
credit you are utilizing in the current tax year. Submit a com-
Credit
pleted Schedule W with all required supporting documents.
See Note 2 below.
NOTE 2: Enter the amount of the credit you are utiliz-
7. PA Neighborhood Assistance Program Tax Credit
ing that was:
See Note 2 below.
• Awarded directly to you by the PA Department of Com-
8. PA Educational Improvement Tax Credit
munity and Economic Development and/or PA Depart-
See Note 2 below.
ment of Revenue;
9. PA Opportunity Scholarship Tax Credit
• Passed through to you by a pass-through entity (PA S
See Note 2 below.
corporation, partnership or limited liability company)
that was included on Line 9 of PA Schedule RK-1 or
10. Keystone Special Development Zone Tax Credit
Line 7 of PA Schedule NRK-1; or
See Note 2 below.
• Purchased from, or assigned to you by, another tax-
11. Historic Preservation Incentive Tax Credit
payer.
See Note 2 below.
IMPORTANT: If utilizing a credit awarded directly to
12. PA Organ and Bone Marrow Donor Tax Credit
you, you must include a copy of the award certifica-
See Note 2 below.
tion letter.
13. PA Coal Refuse Energy and Reclamation Tax
If utilizing a credit passed through to you by a pass-through
Credit
entity, a copy of Pages 1 and 2 of the award letter must be
See Note 2 below.
sent to the Bureau of Business Taxpayer Accounting, Ac-
14. Mixed Use Development Tax Credit
count Maintenance Corporation Tax Division, by the pass-
See Note 2 below.
through entity prior to the filing of the pass-through entity
15. Entertainment Economic Enhancement Program
return.
Tax Credit
If utilizing a credit purchased from, or assigned to you by,
See Note 2 below.
another taxpayer, you must include copies of the documen-
16. Video Game Production Tax Credit
tation you received with respect to that purchase or assign-
See Note 2 below.
ment that supports the transfer of the credit to you.
17. Waterfront Development Tax Credit
If utilizing a credit that was awarded to you in a previous
See Note 2 below.
tax year that was carried forward because it was not uti-
lized, you must submit documentation of the original award
18. Manufacturing and Investment Tax Credit
and a statement showing the amounts utilized in prior tax
See Note 2 below.
years.
19. PA Resource Manufacturing Tax Credit
NOTE: A copy of the pass-through entity awardee doc-
See Note 2 below.
umentation provided to the Bureau of Business Tax-
20. Beginning Farmers Tax Credit
payer Accounting, Account Maintenance Corporation Tax
See Note 2 below.
Division may also be requested by the Bureau of Individual
Taxes. To enable more timely processing of your return, you
21. Other restricted credits not listed above
may wish to also provide the same documentation with your
Restricted credits are tax credits which are included in
individual, estate or trust return and the returns of all other
PA legislation and must be applied for with specific PA
pass-through entity owners claiming the credit(s). Social Se-
agencies. If a restricted credit is not shown above, enter
curity numbers on the documentation should be redacted to
the type of credit in the space provided and the amount
the last four digits of the SSN if the information is provided
of credit received from the awarding PA government
agency.
to more than one pass-through entity owner.
2
PA-40/PA-41 OC
www.revenue.pa.gov
PREVIOUS PAGE
RETURN TO FORM
PRINT
Page of 4