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Form 36 M.r.s. 5216-D - Maine Fishery Infrastructure Investment Tax Credit Worksheet For Tax Year 2015 Page 2

2015

MAINE FISHERY INFRASTRUCTURE INVESTMENT

TAX CREDIT WORKSHEET INSTRUCTIONS

An income tax credit is available for investments in, or contributions to, public ﬁ shery infrastructure projects. The

credit is equal to 50% of the eligible investment or contribution, as certiﬁ ed by the Department of Inland Fisheries

and Wildlife, and must be taken in equal installments over four years. The investment/contribution limit per

project is $5,000,000. The credit taken in any year is limited to 50% of the tax liability for that taxable year prior to

the application of the credit and may not reduce the tax otherwise due to less than zero. Any portion of the credit

left unused due to this limitation may be carried forward for up to 15 years. The credit is subject to recapture and

is prohibited if the taxpayer claims a federal income tax deduction for the investment or contribution.

In the case of pass-through entities (such as partnerships, LLCs, S corporations, and trusts), the partners,

members, shareholders, beneﬁ ciaries or other owners are allowed a credit in proportion to their respective

interests in these entities. If you are a member of a pass-through entity, enter on lines 1a, 1b, 1c and 1d your

share of the tax credit certiﬁ cates reported to you by the entity.

Include a copy of the certiﬁ cate issued to you by the Department of Inland Fisheries and Wildlife with this

worksheet.

Form 36 M.r.s. 5216-D - Maine Fishery Infrastructure Investment Tax Credit Worksheet For Tax Year 2015 Page 2