Form Super Research And Development Tax Credit Worksheet For Tax Year 2006 (Page 2 of 2) in pdf

2006

SUPER RESEARCH AND DEVELOPMENT TAX CREDIT

WORKSHEET INSTRUCTIONS

This credit is available to taxpayers that qualify for the Research Expense Tax Credit (see 36 M.R.S.A.§5219-K) and whose

qualiﬁ ed research expenses (as deﬁ ned by IRC § 41 as of December 31,1994) exceed the super credit base amount. The

super credit base amount is the average research expense for the three taxable years immediately preceding June 12,

1997, increased by 50%. This credit applies only to the amount spent on research conducted in Maine. The credit is equal

to the lesser of the excess qualiﬁ ed research expenses over the super credit base amount or 50% of the tax due after

all other credits. The credit may not reduce the current year’s tax liability to less than the tax liability of the previous year

after credits. Any unused credit amount may be carried over for 5 years. Special rules apply to corporations ﬁ ling a Maine

combined return.

SPECIFIC LINE INSTRUCTIONS

In the case of pass-through entities (partnerships, LLCs, S corporations, trusts, etc.), the partners, members, shareholders,

beneﬁ ciaries, etc., are allowed a credit in proportion to their respective interest in these entities. Attach a schedule showing

the credit generated by the pass-through entity and the assignment/distribution to each partner, shareholder, beneﬁ ciary,

etc. Include the name, address, and federal ID number of the pass-through entity on the schedule and the name and SSN/

EIN of each partner, shareholder, beneﬁ ciary, etc.

Enter the taxpayer name and employer identiﬁ cation number (“EIN”) or social security number (“SSN”).

Line 1.

Enter the total qualiﬁ ed research expenses spent for research conducted in Maine and included on federal

Form 6765, Section A, line 9 or Section B, line 27.

Line 2.

Enter the qualiﬁ ed research expenses spent for research conducted in Maine for the appropriate tax years. The

average qualiﬁ ed research expense for these 3 years increased by 50% is the super credit base amount.

Line 4.

Enter any amount of unused super research and development tax credits from prior years. Unused credit

amounts may be carried forward for up to 5 years.

Lines 6 & 7. The credit is limited to 50% of the taxpayer’s tax liability after the allowance of other credits.

Line 9.

The credit is further limited in that it cannot be used to reduce the current year tax liability after other credits to

less than the tax liability of the previous tax year after the allowance of credits.

Rev. 11/06

Form Super Research And Development Tax Credit Worksheet For Tax Year 2006 Page 2