Maine Minimum Tax Credit And Carryforward To 2013

Maine Minimum Tax — Exemption Worksheet for line d of the Exclusion Items Worksheet above

Exemption. Complete the worksheet below only if line c of the Exclusion Items Worksheet above is more than the amounts shown

on line 3 below for your ﬁ ling status. Enter the result on line d of the Exclusion Items Worksheet above.

Enter: $33,750 if single or head of household; $45,000 if married ﬁ ling jointly or qualifying widow(er);

$22,500 if married ﬁ ling separately ............................................................................................................................................ ________________

Enter the amount from line c of your Exclusion Items Worksheet above ................................................................................... ________________

Enter: $112,500 if single or head of household; $150,000 if married ﬁ ling jointly or

qualifying widow(er); $75,000 if married ﬁ ling separately ....................................................................... _________________

Subtract line 3 from line 2. If zero or less, enter -0- ............................................................................... _________________

Multiply line 4 by 25% (.25) .................................................................................................................... _________________

Subtract line 5 from line 1. If zero or less, enter -0-. If this form is for a child under age 18, go to

line 7 below. Otherwise, stop here and enter this amount on line d of the Exclusion Items Worksheet above ......................... ________________

$6,950

Child’s minimum exemption amount .......................................................................................................................................... ________________

Enter the child’s earned income, if any.................................................................................................................................... ________________

Add lines 7 and 8 ........................................................................................................................................................................ ________________

10.

Enter the smaller of line 6 or line 9 here and on line d of the Exclusion Items Worksheet above ............................................. ________________

Maine Minimum Tax — Worksheet for line l of the Exclusion Itmes Worksheet above –

Maine residents only

Taxpayer’s Maine tentative alternative minimum taxable income on exclusion items (from line c of the Exclusion Items

Worksheet above) ...................................................................................................................................................................... ________________

Amount included in line A above that was derived from other jurisdiction in 2011 ..................................................................... ________________

__ __ __ . __ __

Percentage of income taxed by other jurisdiction (Divide line B by line A) .................................................................................

Limitation of credit:

1. Alternative Maine minimum tax on exclusion items from line k of the Exclusion Items Worksheet above

$ ________________ multiplied by _________________ % on line C .......................................... _______________

2. 2011 Minimum tax on exclusion items paid other jurisdiction on income taxed under

the Maine minimum tax .................................................................................................................... _______________

Allowable credit, the smaller of line D(1) or D(2). Enter here and on line l of the Exclusion Items Worksheet above ............... ________________