Filers claiming the general business credit for electricity produced from certain renewable resources under code sections 38 and 45 must file Form 8835.
US Code:
26 USC 38
Name of Law: General business credit
US Code:
26 USC 45
Name of Law: Electricity produced from certain renewable resources, etc.
On lines 1 (section A) and 1 (section B) the factor used to calculate the credit
for kilowatt-hours of electricity produced and sold is adjusted for inflation and
changed to 0.021 (Notice 2008-48; IRC sec. 45(b)(2); IRC sec.45(e)(2)).
On line 6 (section B) the factor used to calculate the credit for tons of refined
coal produced and sold is adjusted for inflation and changed to $6.061 (Notice
2008-48; IRC sec. 45(e)(8)(C) and (A); IRC sec. 45(b)(2); IRC sec.45(e)(2)).
On line 9 (section B) the factor used to calculate the credit for tons of Indian
coal produced and sold is adjusted for inflation and changed to $1.589 (Notice
2008-48; IRC sec. 45(e)(10)(B) ; IRC sec. 45(b)(2); IRC sec.45(e)(2)).
In addition to the usual places, the year is updated on lines 20, 21, and 22.
Line 29a is rewritten as "Personal credits from Form 1040 or 1040NR (see
instructions)" because the 2008 Form 1040 and 1040NR WRNs indicate the line
references are changed. This new language eliminates the need to conform to
future Forms 1040 and 1040NR WRNs that change the line references.
The reference to Form 5735 is removed from line 29c because the American
Samoan economic development credit is expired for tax years beginning in 2008
and has no carryforward provision.
PL 109-432 sec.119(d)
On line 34c, the Form 5884 line reference is changed to line 23 to conform to
the 2008 Form 5884 WRN.
Reserved for line 34d: The Form 6478 line reference is changed to conform to
its 2nd 2008 WRN.
On line 36 the Form 1040 and 1040NR line references are changed to line
54 and line 49, respectively, to conform to the 2008 Form 1040 and 1040NR
WRNs.
$550
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Sharon Dewsbury 202 622-3838
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Form 8835 Renewable Electricity Producation Credit
Summary of Changes for 8835.pdf
Expiration Explanation.rtf
8835.SUP.doc
Renewable Electricity Producation Credit