2005 Maine Minimum Tax Worksheet Page 2
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Maine Minimum Tax
Income Modifi cation Worksheet for Line 2
Federal Alternative Minimum Taxable Income (“FAMTI”) (from federal Form 6251, line 28):
1. ADDITIONS to federal alternative minimum taxable income.
a. Income from municipal and state bonds, other than Maine to the extent not included in FAMTI above .......... 1a ______________
b Net Operating Loss Recovery Adjustment (See instructions. Attach a schedule showing your calculation) ....1b ______________
c Maine State Retirement Contributions .............................................................................................................. 1c ______________
d Domestic Production Activities Deduction Add-back (See instructions) ............................................................1d ______________
e Bonus Depreciation and Section 179 Add-back to the extent deducted in arriving at FAMTI (See instructions) .... 1e ______________
f Health Savings Accounts Add-back (See instructions) .......................................................................................1f ______________
g Other (See instructions). List the type and amount of income items included (attach a separate schedule,
if necessary) ___________________________________________________________________
...........1g ______________
h Deductible costs included in FAMTI above (from Maine Schedule 2, line 5b), incurred in the production
of Maine exempt income (See instructions) .....................................................................................................1h ______________
i
Amounts deducted in arriving at FAMTI (from Maine Schedule 2, line 5c) that are also being claimed
for the Family Development Account Credit on Maine Schedule A, line 18 ...................................................... 1i ______________
j
Any loss, deduction or other expense included in FAMTI attributable to income from an ownership interest
in a fl ow-through entity fi nancial institution ........................................................................................................ 1j ______________
k Total additions (Add lines 1a through 1j) ........................................................................................................ 1k ______________
2. SUBTRACTIONS from federal alternative minimum taxable income.
a U.S. Government Bond interest included in FAMTI above ............................................................................... 2a ______________
b Social Security and Railroad Retirement Benefi ts included in FAMTI above ...................................................2b ______________
c Pension Income Deduction (from 1040ME, Schedule 1, line 2d) ..................................................................... 2c ______________
d Interest from Maine Municipal General Obligation & Private Activity Bonds included in FAMTI (See federal
Form 6251, line 11) ...........................................................................................................................................2d ______________
e Premiums for Long-Term Care Insurance (Do not include health insurance premiums on this line)
(See instructions). NOTE: If you itemize deductions, complete worksheet below .................................... 2e ______________
f
Maine State Retirement System Pick-Up Contributions paid to the taxpayer during 2005 which have been
previously taxed by the state .............................................................................................................................2f ______________
g Federal Work Opportunity Credit/Empowerment Zone Credit Deduction (from Maine Schedule 1, line 2h) .....2g ______________
h Fiduciary Adjustment-deductions only (Attach a copy of your federal Schedule K-1) ................................2h ______________
i
Bonus Depreciation and Section 179 Recapture (See instructions) ................................................................. 2i ______________
j
Other. List (See instructions) (Nonresidents and Part-year residents - Do not enter non-Maine income) ... 2j ______________
k Deductible costs of producing income exempt from federal alternative minimum tax, but subject to the
Maine alternative minimum tax (from Maine Schedule 2, line 6) (See instructions) ......................................... 2k ______________
l
Total Subtractions (Add lines 2a through 2k) .................................................................................................. 2l ______________
3.
Net Modifi cation (Subtract line 2l from line 1k — enter here and on Minimum Tax Worksheet, line 2
[May be a negative amount]) .............................................................................................................................. 3 ______________
Maine Minimum Tax — Worksheet for Line 2e above
For individuals claiming a deduction for long-term care insurance premiums. Complete this worksheet only if you claim Maine itemized
deductions and federal Schedule A, line 4 is greater than zero or you are self-employed and federal Form 1040, line 29 is greater than
zero.
1. Enter total amount of long-term care insurance premiums paid during 2005: ........ $
2. Enter amount from federal Schedule A, line 1 .................................................................................................... $ _______________
3. Enter amount of long-term care premiums included in line 2 above ................................................................. $ _______________
4. Divide line 3 by line 2 ........................................................................................................................................... __ . __ __ __ __
5. Enter amount from federal Schedule A, line 4 minus federal Form 6251, line 2 $ ____________ and
multiply by percentage on line 4 above .............................................................................................................. $ _______________
6. Enter the amount of long-term care insurance premiums included on federal Form 1040, line 29 .................... $ _______________
7. Subtract line 5 and line 6 from line 1. Enter result here and on Maine Minimum Tax - Income Modifi cation
Worksheet, line 2e above ................................................................................................................................... $ _______________
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