Rehabilitation Of Historic Properties Credit - Worksheet For Property Placed In Service On Or After January 1, 2008 - Maine Revenue Services

CREDIT FOR REHABILITATION OF HISTORIC PROPERTIES

WORKSHEET FOR PROPERTY PLACED IN SERVICE ON

OR AFTER JANUARY 1, 2008

36 M.R.S.A. §§ 5219-BB & 5219-R(1)

NOTE: A separate worksheet must be completed for each certiﬁ ed rehabilitation.

Read the instructions before completing this worksheet.

TAXPAYER NAME: _____________________________________ EIN/SSN: ________________

_______________________

Enter beginning and ending dates of tax year to which this worksheet relates:

Note: Owners of pass-through entities (partnerships, LLCs, S corporations, trusts, etc.) having qualiﬁ ed

rehabilitation expenditures, 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

_________________________________________________________

___________________

Check the boxes that apply:

Check if credit is for a rehabilitation for which a federal credit is claimed. Attach a copy of Part 3 of the Historic

Preservation Certiﬁ cation Application approved and signed by the National Park Service. If you do not have a signed

Part 3, submit a copy of Part 2 approved by the National Park Service.

Check if not ﬁ ling federal Form 3800. Attach copy of federal Form 3468.

Check if ﬁ ling federal Form 3800. Attach copy of federal Forms 3468 and 3800.

Check if credit is for a small rehabilitation (qualiﬁ ed expenditures $50,000 to $250,000) for which no federal

credit is claimed. Attach a copy of Part 3 of the Small Project Rehabilitation Certiﬁ cation Application approved and

signed by the Maine Historic Preservation Commission. If you do not have a signed Part 3, submit a copy of Part 2

approved by the Maine Historic Preservation Commission.

NOTE: If either box A or box B is checked, attach a copy of the Reporting Form(s) (both Parts A and B) signed by the Maine

Historic Preservation Commission. If you have not received a signed Part 3 from either the National Park Service or the Maine

Historic Preservation Commission (whichever applies), but you have received a signed Part 2, attach a copy of Part A of the

Reporting Form. You do not qualify for the credit unless the appropriate copies are attached.

Check if credit is for a rehabilitation for which an Affordable Housing Certiﬁ cate has been received from the

Maine State Housing Authority. Attach copy of certiﬁ cate.

PART A: Refundable Credit for Rehabilitation of Historic Properties - 36 M.R.S.A. §5219-BB - for certiﬁ ed qualiﬁ ed

rehabilitation expenditures incurred after 2007 with respect to a certiﬁ ed historic structures placed in service in

Maine after December 31, 2007 during the tax year.

1. Certiﬁ ed qualiﬁ ed rehabilitation expenditures incurred after 2007. Read General and Speciﬁ c

Instructions before completing this line.

If box A above is checked, enter the amount of Maine certiﬁ ed qualiﬁ ed rehabilitation expenditures

(see General Instructions for deﬁ nition) included in the basis for calculating the credit on

federal Form 3468 line 1h or line 1k.

If box B is checked, enter the amount of Maine certiﬁ ed qualiﬁ ed rehabilitation expenditures

incurred after 2007 associated with the certiﬁ ed rehabilitation..............................................................1. ________________

2. Enter credit percentage. If box C above is checked, enter .30. Otherwise, enter .25 ......................2.

3. Credit prior to limitations. Multiply line 1 by line 2. Enter result here...............................................3. ________________

$5,000,000

4. Maximum credit for this certiﬁ ed rehabilitation ......................................................................................4. ________________

5. Enter line 3 or line 4, whichever is less. ................................................................................................5. ________________

6. Refundable credit available for this tax year for this certiﬁ ed rehabilitation. Multiply line 5 by

25% (.25). Enter result here and on Form 1120ME, line 8d; Form 1120B, line 4e; or Form

1040ME, line 28a ..................................................................................................................................6. ________________

7. Amount of refundable credit available for this certiﬁ ed rehabilitation for the next 3 tax years:

2nd tax year: Enter 25% (.25) of line 5 .................................................................

7a. ________________

3rd tax year:

Enter 25% (.25) of line 5 .................................................................

7b. ________________

4th tax year:

Enter 25% (.25) of line 5 .................................................................

7c. ________________

Rev. 12/08