Biofuel Production And Use Tax Credit Worksheet For Tax Year 2008

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BIOFUEL PRODUCTION AND USE TAX CREDIT
WORKSHEET FOR TAX YEAR 2008
36 M.R.S.A. § 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 allowed: Enter the smaller amount from either line 1 or line 2 ............................... 3. _____________________
4.
Credit used this year: Enter the amount of credit allowed from line 3 that will be
entered on Form 1120ME, Schedule C, line 29f (Amount Used) or Form 1040ME,
Schedule A, line 18, to reduce taxes this taxable year ..................................................... 4. _____________________
5.
Carryover credit: Subtract line 4 from line 3 and enter the result here.
(See instructions) .............................................................................................................. 5. _____________________
Rev. 11/08

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