Rehabilitation Of Historic Properties Tax Credit Worksheet 2007
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1
2REHABILITATION OF HISTORIC PROPERTIES TAX CREDIT
WORKSHEET FOR TAX YEAR 2007
36 M.R.S.A. § 5219-R(1)
TAXPAYER NAME: _____________________________________ EIN/SSN: ________________
Note: Owners of pass-through entities (partnerships, LLCs, S corporations, trusts, etc.) making an eligible
investment, see instructions. Also, please provide name and ID number of the pass-through entity on the
lines below.
NAME OF PASS-THROUGH ENTITY
EIN/SSN
_________________________________________________________
___________________
Check if not fi ling federal Form 3800. Attach copy of federal Form 3468.
Check if fi ling federal Form 3800. Attach copy of federal Forms 3468 and 3800.
1.
If fi ling federal Form 3800, enter the amount from line 1a that relates to certifi ed historic
structures located in Maine. If not fi ling federal Form 3800, enter the amount from federal
Form 3468, line 1h that relates to certifi ed historic structures located in Maine .......................... 1. _______________
2.
If fi ling federal Form 3800, enter the amount from line 6 that relates to certifi ed historic
structures located in Maine. If not fi ling federal Form 3800, enter the amount from federal
Form 3468, line 1k that relates to certifi ed historic structures located in Maine .......................... 2. _______________
3.
Add lines 1 and 2 and enter the total here ................................................................................... 3. _______________
4.
Enter the amount from federal Form 3800, line 8. ....................................................................... 4. _______________
5.
Divide the amount on line 3 by the amount on line 4, enter the result here ................................ 5.
.
6.
Enter the amount from federal Form 3800, line 19. ..................................................................... 6. _______________
7.
Multiply the amount on line 6 by the percent on line 5. Enter result here .................................... 7. _______________
$100,000
8.
Credit limitation ............................................................................................................................ 8. _______________
9.
Enter the lesser of line 7 or line 8. (Corporate taxpayers, enter this amount on Form 1120ME,
Schedule C, line 29m. Individuals, enter this amount on Form 1040ME, Schedule A, line 18) ... 9. _______________
CARRYFORWARD OR CARRYBACK OF EXCESS CREDIT AMOUNTS ARE NOT ALLOWED
RECAPTURE OF INVESTMENT CREDIT
1.
Federal recapture amount with respect to Maine Certifi ed Historic Structures. Complete a pro
forma federal Form 4255 with respect to Maine Certifi ed Historic Structures subject to federal
recapture during the taxable year. However, do not complete lines 1 and 2 of federal Form 4255,
enter on line 3 for each column the original Maine credit claimed (cannot exceed $100,000). Then
complete lines 4-13 following the federal instructions for each line. Enter the line 13 amount
here and on Form 1120ME, line 7b or Form 1040ME, Schedule A, line 1 .................................. 1. _______________
ATTACH A COPY OF PRO FORMA FEDERAL FORM 4255
Rev. 11/07
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