2006 Maine Minimum Tax Worksheet (Line 3a)

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Attachment
2006 MAINE MINIMUM TAX WORKSHEET
7
Sequence No.
Use this Worksheet to complete:
00
Form 1040ME, Schedule A, Line 3a – Enclose a copy of your 2006 federal Form 6251
*0602124*
Name(s) as shown on Form 1040ME
Your Social Security Number
-
-
Do you owe a Maine Minimum Tax?
Maine taxpayers must complete the Maine Minimum Tax Worksheet to determine whether they owe
a Maine minimum tax only if the total of Maine tentative alternative minimum taxable income (“AMTI”) (federal Form 6251, line 28 plus
Maine addition income modifi cations [see the Maine Minimum Tax Worksheet for line 2]) is greater than the applicable Maine minimum
tax exemption amount shown on line 4 below. Individuals not required to fi le federal Form 6251 must complete a pro forma to determine
the federal alternative minimum taxable income amount for Maine purposes. Taxpayers that do not owe a Maine minimum tax are not
required to fi le the Maine minimum tax worksheet with their Maine income tax return.
1.
Federal alternative minimum taxable income (Federal Form 6251, line 28) .............................................................................. 1. ________________
2.
Modifi cations (May be a positive or negative number) - See instructions .............................................................................. 2. ________________
3.
Maine tentative alternative minimum taxable income (line 1 plus or minus line 2). If zero or less, enter zero ........................... 3. ________________
4.
Exemption. Enter amount for your fi ling status shown below: ................................................................................................. 4. ________________
If your fi ling status is:
and line 3 is not over:
Enter on line 4:
Single or Head of Household ........................................... $112,500 .......................................................$33,750
Married fi ling Jointly or Qualifying Widow(er) ...................$150,000 .......................................................$45,000
Married Filing Separately ...................................................$75,000 .......................................................$22,500
If line 3 is more than the amount shown above for your fi ling status, see instructions.
5.
Maine alternative minimum taxable income (subtract line 4 from line 3). If zero or less, enter zero .......................................... 5. ________________
6.
Tentative minimum tax. See instructions ................................................................................................................................. 6. ________________
7.
Nonresident and part-year resident apportionment factor (Maine residents enter 100%) - See instructions ...................... 7. __ __ __ . __ __%
8.
Multiply line 6 by line 7, enter result here ................................................................................................................................... 8. ________________
9.
Maine income tax (Form 1040ME, line 20 less line 25) ............................................................................................................. 9. ________________
10. Alternative minimum tax (Subtract line 9 from line 8) ............................................................................................................... 10. ________________
11. Credit against the Maine minimum tax for minimum tax paid to other jurisdictions (For Maine residents only).
Enter line E from Worksheet below. ....................................................................................................................................... 11. ________________
12. Maine Minimum Tax (subtract line 11 from line 10 – if zero or less, enter zero. Enter result on 1040ME, Schedule A, line 3a) 12. ________________
(Worksheet for line 11 above – Maine residents only: Credit Against the Maine Minimum Tax for minimum tax paid to other jurisdictions)
A. Taxpayer’s Maine tentative alternative minimum taxable income (Line 3 above) ......................................................................A. ________________
B. Income included in line A above that is derived from other jurisdiction ......................................................................................B. ________________
C. Percentage of income taxed by other jurisdiction (Divide line B by line A) ................................................................................ C. __ __ __ . __ __%
D. Limitation of credit:
1. Maine alternative minimum tax (Line 10 above) multiplied by percent on line C ........................D(1). ________________
2. Minimum tax paid other jurisdiction on income taxed under the Maine minimum tax .................D(2). ________________
E. Allowable credit, the lesser of lines D(1) or D(2). Enter here and on line 11 above ..................................................................E. ________________
2006 MAINE MINIMUM TAX CREDIT AND CARRYFORWARD TO 2007
Worksheet for Form 1040ME, Schedule A, Line 15
Enclose a copy of 2006 federal Form 8801
13. Enter the amount from the 2005 Maine Form 1040ME, Schedule A, line 3c ........................................................................... 13. ________________
14. Minimum tax credit carryforward from 2005 (2005 Maine Minimum Tax Worksheet, line 21) .................................................. 14. ________________
15. Enter 2005 net state minimum tax on federal exclusion items – From worksheet at ...................... 15. ________________
16. 2005 adjusted net state minimum tax (Line 13 plus line 14 minus line 15 – if zero or less, enter zero) .................................. 16. ________________
17. Enter 2006 Maine income tax liability (2006 Form 1040ME, line 20 plus line 21 [except minimum tax] minus line 22
minus line 24 [except minimum tax credit] minus line 25) ........................................................................................................ 17. ________________
18. Enter 2006 Maine tentative minimum tax (Line 8 above) ......................................................................................................... 18. ________________
19. Subtract line 18 from line 17 (If zero or less, enter zero) ......................................................................................................... 19. ________________
20. Maine minimum tax credit: Enter the lesser of line 16 or 19 here and on Form 1040ME, Schedule A, line 15 .................... 20. ________________
21. Maine minimum tax credit carryforward to 2007 (Subtract line 20 from line 16) ................................................................. 21. ________________
NOTE: If you have a Maine minimum tax credit carryforward to 2007, keep a copy of the worksheet to submit with
your 2007 Maine individual income tax return.
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