Reforestation Tax Credit - 1999

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80-315-99-3-1-000 (Rev. 4/99)
Mississippi
Reforestation Tax Credit
1999
Page 1
Taxpayer Name
SSN
FEIN
PART I : COMPUTATION OF CREDIT
1. Total expenditures during the year 1999 for seedlings, seed/acorns, seeding, planting by hand or machine, site
preparation , and post-planting site preparation on all eligible acres.
1
2. Total cost of approved practices as established by the Mississippi Forestry Commission. Complete the worksheet on
the reverse side of this form and enter the total from Column C here.
2
3. Eligible Costs (Enter lesser of Line 1 or Line 2.)
3
4. Enter 50% of amount in Line 3 above or $10,000 whichever is less. This is your RTC earned this year.
4
5a. Enter the amount of RTC carried over from earlier years. (Attach a copy of Form 80-315 for immediate prior year.)
5a
5b. Enter the current year RTC passed through to you as an investor in a pass-through entity. (Refer to Forms K-1.)
5b
6. Total Amount of RTC available to be utilized this year (Add Lines 4 , 5a & 5b, but do not enter an amount larger
than the amount shown on Line 16, Part IV, below.) Pass-through entities only: This is the amount of RTC which
6
is available to be passed through to investors. Enter this amount on Form 83-401 and skip Parts II and III.
PART II: REFORESTATION TAX CREDIT UTILIZED THIS YEAR:
(NOTE: When married taxpayers file jointly and each spouse qualifies as an eligible owner, see Instructions for completion of lines 7 and 8.)
7. Enter the amount of total income tax due shown on Line 23, Form 80-105 (individuals); Line 5, Form 83-105
(corporations); or Line 7, Form 81-110 (fiduciary return).
7
8. Enter the total amount of all other credit(s) available to you this year. (Refer to the instructions for the income tax
return you are filing for a list of available credits.) Do not include withholding or estimated tax payments.
8
9. Net Income tax due (Subtract Line 8 from Line 7.)
9
10. Reforestation Tax Credit (Enter LESSER of Line 6 or Line 9.) Enter here and on Line 27 (or include with other
credits shown on Line 27), Form 80-105 (individuals), or on Form 83-401 (corporations or trusts).
10
PART III: COMPUTATION OF RTC CARRYOVER AMOUNT:
11. Total Reforestation Tax Credit available to be utilized this year. (Amount from Line 6 above.)
11
12. Amount of RTC utilized this year. (Amount from Line 10 above)
12
13. Amount of RTC available to be carried forward and used in succeeding tax years. (Line 11 minus Line 12)
13
PART IV: COMPUTATION OF ACCUMULATED RTC LIFETIME CREDIT UTILIZIED:
10,000
14. LIFETIME REFORESTATION TAX CREDIT ALLOWANCE
14
15. Total RTC utilized in prior years to offset income tax due. (Total of amounts shown on Line 12, Part III, Form 80-315,
for ALL prior taxable years) Pass-through entities: Enter total RTC passed through to investors in ALL prior years.
15
16. Balance of Lifetime RTC allowance available to be used. (Line 14 minus Line 15) For pass-through entities, this is the
balance of your lifetime RTC allowance which is available to be passed through to investors.
16
PART V: CERTIFICATION OF FORESTER
In accordance with the requirements set forth in Section 27-7-18, Mississippi Code of 1972, I certify that a reforestation prescription or plan as
above was prepared for eligible lands owned
by:________________________________________________________________________________________,
the eligible owner/taxpayer; and that I am:
a graduate forester of a college, school or university accredited by the Society of American Foresters; or
a registered forester under the Foresters Registration Law of 1977;
that the reforestation practices were completed; and that the reforestation prescription or plan was followed.
Signature
Title
Date
Business Address
Identifying Number

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