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Kentucky Free Printable  for 2021 Kentucky Coal Conversion Tax Credit

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Coal Conversion Tax Credit
Schedule CC

SCHEDULE CC COAL CONVERSION TAX CREDIT 2020 Commonwealth of Kentucky Department of Revenue KRS 141.041   Attach to Form 720 or 720U. Name of Corporation Federal Identification Number Kentucky Corporation/LLET Account Number __ __– __ __ __ __ __ __ __ __ __ __ __ __ __ Location of coal conversion facility (street, city, county, state) (If more than one facility, complete a separate Schedule CC for each.) USE OF UNIT—To qualify, the facility must: (check appropriate box)  Generate steam or hot water for space heating or materials processing.  Provide direct heat for industrial processes. TYPE OF CONVERSION FOR WHICH CREDIT IS CLAIMED—To qualify, the facility must have: (check appropriate box)  A Replaced a non-coal burning facility with a coal-burning facility.* Date Completed __  B Installed an additional facility capable of burning coal.* Date Completed __  C Converted a non-coal facility to a coal facility.* Date Completed __  D Substituted coal for other fuels in multi-fuel facility. Enter the calendar year used as base year __ __ __ __. Complete Parts I and III below. __ / __ __ / __ __ __ __ __ / __ __ / __ __ __ __ __ / __ __ / __ __ __ __ * Attach a statement describing in detail the type of facility in use previously and the type of facility in use after replacement, addition, or conversion. Complete Parts I and II below. PART I—SCHEDULE OF KENTUCKY COAL (Coal Subject to Taxation Under KRS Chapter 143) The corporation must complete. Supplier Supplier’s Coal Severance ID Number A B C D Transportation Number of Purchase Price Net Cost Expense Tons Used of Tons Used (B Minus C) Included in B (a) 00 00 00 (b) 00 00 00 (c) 00 00 00 (d) 00 00 00 (e) 00 00 00 (f) 00 00 00 TOTALS 00 00 00 PART II—COMPUTATION FOR NEW COAL USERS (To be completed by a corporation that checked box A, B, or C above.)   1 Total from Part I, Column D............................................................................................................................. 1   2 Credit Rate is 4.5%............................................................................................................................................ 2 x 00 .045   3 Tax Credit:  Multiply amount on line 1 by line 2............................................................................................ 3 00  4 LLET Credit—Take appropriate amount from line 3 above. Enter here and on Schedule TCS, Part II, Column E........................................................................................................................................................... 4 00  5 Corporation Income Tax Credit—Take appropriate amount from line 3 above. Enter here and on Schedule TCS, Part II, Column F...................................................................................................................... 5 00 200222 41A720CC (10-20) Page 1 of 3 Schedule CC (2020) Page 2 of 3 PART III—COMPUTATION OF COAL SUBSTITUTION (To be completed by a corporation that checked box D on page 1.)   1 Base year fuel input. A B C D Number of Million Million Percent of Fuel Unit Units Used BTUs/Unit BTUs/Fuel BTUs Used* (Avg.) (a) Kentucky Coal Tons x = (b) Non-Kentucky Coal Tons x = (c) Natural Gas MCF x = (d) Crude Oil Bbls. x = (e) Fuel Oil Gals. x = x = (f) Other: (g) TOTAL of (c), (d), (e), and (f)................................................................................................. (h) TOTAL of (a), (b), (c), (d), (e), and (f).................................................................................... 100% *Compute percentages by dividing amounts in Column C, lines (a) through (f), by amount in Column C, line (h).   2 Tax year fuel input. A B C D Number of Million Million Percent of Fuel Unit Units Used BTUs/Unit BTUs/Fuel BTUs Used* (Avg.) (a) Kentucky Coal Tons x = (b) Non-Kentucky Coal Tons x = (c) Natural Gas MCF x = (d) Crude Oil Bbls. x = (e) Fuel Oil Gals. x = x = (f) Other: (g) TOTAL of (c), (d), (e), and (f)................................................................................................. (h) TOTAL of (a), (b), (c), (d), (e), and (f).................................................................................... *Compute percentages by dividing amounts in Column C, lines (a) through (f), by amount in Column C, line (h). 200223 41A720CC (10-20) 100% Schedule CC (2020) Page 3 of 3 PART III—COMPUTATION OF COAL SUBSTITUTION (Continued) (To be completed by a corporation that checked box D on page 1.)   3   4   5 Enter percentage of BTUs produced by sources other than coal in base year (from line 1(g), Column D)............................................................................................................................ 3 Enter percentage of BTUs produced by sources other than coal in tax year (from line 2(g), Column D)............................................................................................................................ 4 Subtract line 4 from line 3. If there was no decrease in percentage of BTUs from sources other than coal from base year to tax year, then the corporation is not entitled to the coal credit .................................................................................................................. 5   6   7   8 Enter percentage of BTUs produced by Kentucky coal in tax year (from line 2(a), Column D).............. 6 Enter percentage of BTUs produced by Kentucky coal in the base year (from line 1(a), Column D)............................................................................................................................ 7 Subtract line 7 from line 6. If there was no increase in percentage of BTUs from Kentucky coal from base year to tax year, then the corporation is not entitled to the coal credit ............................................................................................................................ 8   9 Enter million BTUs input of Kentucky coal (from line 2(a), Column C)..................................................... 9 10 Compare percentages on lines 5 and 8, and enter the lesser percentage................................................ 10 11 Multiply amount on line 9 by percentage on line 10. Enter result here.................................................... 11 12 Enter average million BTUs/unit (from line 2(a), Column B)..................................................................... 12 13 Divide line 11 by line 12. Enter result here.................................................................................................. 13 14 Enter average purchase price per ton (total from Part I, Column D, divided by total from Part I, Column A)....................................................................................................... 14 00 15 Multiply line 13 by line 14. Enter result here............................................................................................... 15 00 16 Credit rate is 4.5%.......................................................................................................................................... 16 x .045 17 Tax Credit:  Multiply amount on line 15 by line 16..................................................................................... 17 00 18 LLET Credit—Take appropriate amount from line 17 above. Enter here and on Schedule TCS, Part II, Column E............................................................................................................................................ 18 00 19 Corporation Income Tax Credit—Take appropriate amount from line 17 above. Enter here and on Schedule TCS, Part II, Column F................................................................................................................... 19 00 (NOTE: This credit cannot reduce the LLET below the $175 minimum.) 200224 41A720CC (10-20)
Extracted from PDF file 2020-kentucky-schedule-cc.pdf, last modified October 2020

More about the Kentucky Schedule CC Corporate Income Tax Tax Credit TY 2020

We last updated the Coal Conversion Tax Credit in June 2021, so this is the latest version of Schedule CC, fully updated for tax year 2020. You can download or print current or past-year PDFs of Schedule CC directly from TaxFormFinder. You can print other Kentucky tax forms here.

Related Kentucky Corporate Income Tax Forms:

TaxFormFinder has an additional 129 Kentucky income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Kentucky Schedule CC.

Form Code Form Name
Schedule CCI Application and Credit Certificate of Clean Coal Incentive Tax Credit

Download all KY tax forms View all 130 Kentucky Income Tax Forms


Form Sources:

Kentucky usually releases forms for the current tax year between January and April. We last updated Kentucky Schedule CC from the Department of Revenue in June 2021.

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Schedule CC is a Kentucky Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Kentucky Schedule CC

We have a total of eight past-year versions of Schedule CC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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