MONTANA
Clear Form
MINE-CRED
Rev 06 16
2016 Mineral and Coal Exploration Incentive Credit
15-32-501 through 15-32-509, MCA
Name (as it appears on your Montana tax return)
Social Security
Federal Employer
OR
-
-
-
Number
Identification Number
Please include a statement describing each distinct mining operation that qualifies for this credit, including the location
and gross income of each operation.
Part I. Partners in a Partnership or Shareholders of an S Corporation
Enter your portion of the mineral and coal exploration incentive credit here.
$_____________________
See instructions.
Business Name of Partnership or S Corporation
Federal Employer
-
Identification Number
___________________________________________________
Part II. Mineral and Coal Exploration Incentive Credit Calculation – Sole Proprietorships and C Corporations
Only. Complete a column for each distinct mining operation. Please include additional pages, if necessary.
Column A
Column B
Column C
1. Name of mining operation
1.
2. Enter the amount of certified expenditures from Form
MINE-CERT. (Please include a copy of Form MINE-
CERT with the certified amount.)
2.
3. Multiply line 2 by 50% (0.50). This is your mineral and
coal exploration incentive credit for the current year.
3.
4. Enter your credit available for carryforward from prior
year(s) (include a detailed schedule).
4.
5. Add lines 3 and 4; enter the result here and continue to
Part III.
5.
Part III. $20 Million Credit Limitation – Sole Proprietorships and C Corporations Only. Complete a column for each
distinct mining operation. Please include additional pages, if necessary.
Column A
Column B
Column C
1. Enter the amount of credit previously taken.
1.
2. Subtract line 1 from $20,000,000 and enter the result
here. If this amount is zero, stop here. You do not
qualify for any additional credit.
2.
3. Enter the amount from Part II, line 4.
3.
4. Subtract line 3 from line 2 and enter the result here. If
the amount is less than zero, enter zero. You do not
qualify for any additional credit.
4.
5. Enter the amount from Part II, line 3.
5.
6. Subtract line 5 from line 4 and enter the result here.
If the amount is less than zero, enter zero. This is the
maximum amount of credit that may be earned in future
years.
6.
7. Enter the lesser of line 4 or line 5 here.
7.
8. Add lines 3 and 7; enter the result here.
8.