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

What Is Form PA-40 (PA-41 OC) 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 June 1, 2018;
  • 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 OC) Schedule OC by clicking the link below or browse more documents and templates provided by the Pennsylvania Department of Revenue.

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1803010055
PA SCHEDULE OC
Other Credits
PA-40/PA-41 OC (EX) 06-18
(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 21 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. Other restricted credits not listed above. Enter type:
.
20.
21. Total PA Other Credits. Add Lines 1 through 20. Enter the total here
and on Line 23 of Form PA-40 or Line 16 of Form PA-41. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21.
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1803010055
PA SCHEDULE OC
Other Credits
PA-40/PA-41 OC (EX) 06-18
(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 21 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. Other restricted credits not listed above. Enter type:
.
20.
21. Total PA Other Credits. Add Lines 1 through 20. Enter the total here
and on Line 23 of Form PA-40 or Line 16 of Form PA-41. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21.
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Pennsylvania Department of Revenue
Instructions for PA-40/PA-41 Schedule OC
Other Credits
PA-40/PA-41 OC IN (EX) 06-18
to the credit. Choose from the following
LINE INSTRUCTIONS
WHAT’S NEW
codes:
• CY – for current year credits
The Entertainment Economic Enhance-
1. PA Employment Incentive
ment Program Tax Credit, Video Game
awarded directly to the taxpayer;
Payments Credit
Production Tax Credit, Waterfront Devel-
• PT – for credits received from
See Note 1 on the next page.
opment Tax Credit, Manufacturing and
pass-though entities;
2. PA Job Creation Tax Credit
Investment Tax Credit and PA Resource
• PA – for credits purchased from or
Manufacturing Tax Credit have been
See Note 2 on the next page.
assigned by another taxpayer; or
added to PA Schedule OC. For addi-
3. PA Research and
tional information about the credits and
• CO – for credits carried over from
Development Tax Credit
any other credit shown on this schedule,
a prior year.
See Note 2 on the next page.
please refer to the department’s website
If more than one code applies for any
at www.revenue.pa.gov.
4. PA Film Production Tax Credit
line, submit a statement to describe the
See Note 2 on the next page.
credit or credits you are claiming on
GENERAL INFORMATION
this schedule.
5. PA Keystone Innovation Zone
Joint Filing of Returns Information:
Tax Credit
Awardee Tax ID Number: If the busi-
A taxpayer and/or spouse claiming the
See Note 2 on the next page.
ness or farm that is awarded the credit
PA Educational Improvement Tax Credit
reports its income on PA Schedule C
on Line 8 or the PA Opportunity Schol-
6. PA Resource Enhancement and
or PA Schedule F, respectively, enter
arship Tax Credit on Line 9 may file a
Protection Tax Credit
the SSN of the taxpayer who owns the
joint PA-40 return if one or both are
See Note 2 on the next page.
business or farm in the Awardee Tax
claiming either or both tax credits. In
ID Number column. If the credit is a
7. PA Neighborhood Assistance
addition, the tax credits for Lines 8 and 9
purchased or assigned credit, enter the
Program Tax Credit
earned by the taxpayer may offset the
seller’s EIN or SSN in the Awardee Tax
tax liability of the spouse and vice versa.
See Note 2 on the next page.
ID Number column. If the credit was
IMPORTANT: A taxpayer and
8. PA Educational Improvement
passed through from a pass-through
spouse must file separate PA-40
Tax Credit
entity, enter the EIN of the pass-
returns if one or both are claiming any of
through entity.
See Note 2 on the next page.
the tax credits on Lines 1 through 7 and
IMPORTANT: If you are claiming
9. PA Opportunity Scholarship
Lines 10 through 20 of this schedule.
credits from a pass-through entity
Tax Credit
NOTE: To obtain additional
of which you are an owner, verify with
See Note 2 on the next page.
information and detailed instruc-
the entity that it contacted the Bureau
tions regarding the other (restricted)
10. Keystone Special Development
of Corporation Taxes, Accounting
credits claimed on this form,
Zone Tax Credit
Division, to pass through the credit.
visit the department’s website at
See Note 2 on the next page.
Listing the amount of credit on the
www.revenue.pa.gov.
owner’s individual RK-1 or NRK-1 is
11. Historic Preservation Incentive
not sufficient to pass through the credit.
Tax Credit
FORM INSTRUCTIONS
Contact information for the Bureau of
See Note 2 on the next page.
Corporation Taxes is on the credit
If you apply for and are awarded credits
award letter.
12. PA Organ and Bone Marrow
listed on this schedule, enter the
Donor Tax Credit
amount of each credit you are utilizing
CAUTION: If you received an
on the appropriate line. If you are a
See Note 2 on the next page.
Out-of State Credit listed on
shareholder of a PA S corporation or a
Line 9, Other Credits, of PA Schedule
13. PA Coal Refuse Energy and
partner in a partnership, enter your
RK-1, report that credit on PA-40
Reclamation Tax Credit
share of each credit from your PA
Schedule G-L, Resident Credit for
See Note 2 on the next page.
Schedule RK-1 or PA Schedule NRK-1.
Taxes Paid to Other States. See the
14. Mixed Use Development
Credit Description Codes
instructions for PA-40 Schedule G-L
Tax Credit
and PA-20S/PA-65 Schedule OC for
For each credit you are claiming, enter
additional information.
the Credit Description Code that applies
See Note 2 on the next page.
www.revenue.pa.gov
PA-40/PA-41 OC
1
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15. Entertainment Economic
NOTE 1: If you have a previously
If utilizing a credit purchased from, or
Enhancement Program
assigned to you by, another taxpayer,
awarded credit that was unused
you must include copies of the docu-
Tax Credit
and carried forward, enter the amount of
mentation you received with respect
credit you are utilizing in the current tax
See Note 2 below.
to that purchase or assignment that
year. Submit a completed Schedule W
16. Video Game Production Tax
supports the transfer of the credit to you.
with all required supporting documents.
Credit
If utilizing a credit that was awarded
See Note 2 below.
NOTE 2: Enter the amount of the
to you in a previous tax year that was
credit you are utilizing that was:
17. Waterfront Development Tax
carried forward because it was not
• Awarded directly to you by the PA
Credit
utilized, you must submit documentation
Department of Community and
See Note 2 below.
of the original award and a statement
Economic Development and/or
showing the amounts utilized in prior
18. Manufacturing and Investment
PA Department of Revenue;
tax years.
Tax Credit
• Passed through to you by a pass-
See Note 2 below.
NOTE: A copy of the pass-through
through entity (PA S corporation,
entity awardee documentation
19. PA Resource Manufacturing
partnership or limited liability
provided to the Bureau of Corporation
Tax Credit
company) that was included on
Taxes may also be requested by the
See Note 2 below.
Line 9 of PA Schedule RK-1 or
Bureau of Individual Taxes. To enable
Line 7 of PA Schedule NRK-1; or
more timely processing of your return,
20. Other restricted credits not
• Purchased from, or assigned to
you may wish to also provide the same
listed above
documentation with your individual,
Restricted credits are tax credits
you by, another taxpayer.
estate or trust return and the returns of
which are included in PA legislation
IMPORTANT: If utilizing a credit
all other pass-through entity owners
and must be applied for with spe-
awarded directly to you, you
claiming the credit(s). Social Security
cific PA agencies. If a restricted
must include a copy of the award
numbers on the documentation should
credit is not shown above, enter the
certification letter.
be redacted to the last four digits of the
type of credit in the space provided
SSN if the information is provided to
and the amount of credit received
If utilizing a credit passed through to
more than one pass-through entity
from the awarding PA government
you by a pass-through entity, a copy of
owner.
agency.
Pages 1 and 2 of the award letter must
be sent to the Bureau of Corporation
21. Total PA Other Credits
Taxes, Accounting Division, by the
Add Lines 1 through 20. Enter the
pass-through entity prior to the filing of
total here and on Line 23 of Form
the pass-through entity return.
PA-40 or Line 16 of Form PA-41.
2
PA-40/PA-41 OC
www.revenue.pa.gov
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