Biofuel Production And Use Tax Credit Worksheet For Tax Year 2009

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BIOFUEL PRODUCTION AND USE TAX CREDIT
WORKSHEET FOR TAX YEAR 2009
36 MRSA § 5219-X
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
________________________________________________________________
____________________________
1.
Tax liability: Multiply Maine taxable income generated from the production of certifi ed
biofuel ($ ________ ) by the applicable tax rate on Maine taxable income ( _____ %)
and enter the result here. (See instructions) ..................................................................... 1. _____________________
2.
Credit claimed: Multiply gallons of biofuel eligible for credit ( _______ ) by $0.05
and enter the result here ................................................................................................... 2. _____________________
3.
Credit carried over from prior years .................................................................................. 3. _____________________
4.
Credit available (add line 2 and line 3) .............................................................................. 4. _____________________
5.
Credit this year: Enter the smaller of line 1 or line 4. Enter here and on Form
1120ME, Schedule C, line 29f or Form 1040ME, Schedule A, line 18 .............................. 5. _____________________
6.
Carryover: Line 5 minus line 4 plus any amount not used on Form 1120ME,
Schedule C or Form 1040ME, Schedule A as a result of claiming other Maine credits
fi rst or because the amount on line 5 exceeds your Maine tax liability.
(See instructions) .............................................................................................................. 6. _____________________
Rev. 10/09

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