Biofuel Production And Use Tax Credit Worksheet For Tax Year 2011
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1
2BIOFUEL PRODUCTION AND USE TAX CREDIT
WORKSHEET FOR TAX YEAR 2011
36 MRSA § 5219-X
TAXPAYER NAME: _____________________________________ EIN/SSN: ________________
Note: Owners of pass-through entities (partnerships, LLCs, S corporations, trusts, etc.) making an eligible
investment, see instructions. Enter name and ID number of the entity on the lines below.
NAME OF PASS-THROUGH ENTITY
EIN/SSN
________________________________________________________________
____________________________
1. Tax liability:
a. Maine taxable income generated from the production of certifi ed
biofuel ...................................................................................................... $ __________
b. Multiplied by the applicable tax rate on Maine taxable income ..............
__________ %
c. Enter result here ...................................................................................................... ..... 1. ____________________
2. Credit claimed:
a. Gallons of biofuel eligible for the credit ...................................................... ___________
b. Multiplied by the credit rate .....................................................................
$ 0.05
c. Enter result here ........................................................................................................... 2. _____________________
3.
Credit carried over from prior years .................................................................................. 3. _____________________
4.
Credit available (add line 2c and line 3) ............................................................................ 4. _____________________
5.
Credit this year: Enter the smaller of line 1c or line 4. Enter here and on Form
1120ME, Schedule C, line 29n or Form 1040ME, Schedule A, line 18 ............................. 5. _____________________
6.
Carryover: Line 4 minus line 5 plus any amount not used on Form 1120ME,
Schedule C or Form 1040ME, Schedule A as a result of claiming other Maine credits
fi rst (see instructions) ....................................................................................................... 6. _____________________
Rev. 2/12
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