Form Mine-Cred - Mineral And Coal Exploration Incentive Credit - 2010 Page 2
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1
2
3
4Social Security Number or Federal Employer Identifi cation Number
Part II - $20 Million Credit Limitation. Complete a column for each distinct mining operation. (If necessary, use
additional pages.)
Column A
Column B
Column C
1. Enter the amount of credit previously taken.
1.
2. Subtract line 1 from $20,000,000 and enter the result
here. If this amount is zero, stop here. You do not
qualify for any additional credit.
2.
3. Enter the amount from Part I, line 4.
3.
4. Subtract line 3 from line 2 and enter the result here. If
the amount is less than zero, enter zero. You do not
qualify for any additional credit.
4.
5. Enter the amount from Part I, line 3.
5.
6. Subtract line 5 from line 4 and enter the result here.
If the amount is less than zero, enter zero. You do
not qualify for any additional credit. This is maximum
amount of credit to be claimed in future years.
6.
7. Enter the lesser of line 4 or line 5 here.
7.
8. Add lines 3 and 7; enter the result here.
8.
Part III – Calculation of Allowable Credit
1. Enter the total of Part II, line 8, for all columns.
1.
2. Enter your Montana tax liability. (See instructions.)
2.
3. Multiply line 2 by 50% (0.50) and enter the result here.
3.
4. Enter the lesser of line 1 or line 3 here. This is your allowable mineral and coal
exploration incentive credit. Enter this amount on Form 2, Schedule V or Form CLT-4,
Schedule C. Pass through entities report the information from line 1 to their partners or
shareholders on the Montana Schedule K-1.
4.
Part IV – Carryover Calculation for Entities with More Than One Distinct Mining Operation. (If you only have one
distinct mining operation, you do not have to complete this schedule.)
Column A
Column B
Column C
1. Name of Distinct Mining Operation
1.
2. Enter the amount from Part II, line 8.
2.
3. Enter the amount from Part III, line 1.
3.
4. Divide line 2 by line 3 and enter the result here.
4.
5. Enter the amount from Part III, line 4.
5.
6. Multiply line 4 by line 5 and enter the result here. This
is your current year allowable credit taken per each
distinct mining operation.
6.
7. Enter the amount on Part II, line 7.
7.
8. Subtract line 6 from line 7 and enter the result here.
8.
9. Enter the amount from Part I, line 4.
9.
10. Add lines 8 and 9; enter the result here. This is amount
available to carryforward to subsequent years.
10.
When you fi le your Montana income tax return electronically, you represent that you have retained all documents required as a tax record and that you
will provide a copy to the department upon request. If you fi le electronically, you do not need to mail this form to us unless we contact you for a copy.
*20050201*
2005
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