High-Technology Investment Tax Credit Worksheet For Tax Year 2016 - Maine Revenue Services

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HIGH-TECHNOLOGY INVESTMENT TAX CREDIT
WORKSHEET FOR TAX YEAR 2016
36 M.R.S. § 5219-M
TAXPAYER NAME: _____________________________________ EIN/SSN: ________________
Note: Owners of pass-through entities (such as partnerships, LLCs, S corporations, and trusts) making an eligible
investment, see instructions. Enter name and ID number of the entity on the lines below. Also enter your ownership
percentage in the pass-through entity for the tax year.
OWNERSHIP
NAME OF PASS-THROUGH ENTITY
EIN/SSN
PERCENTAGE
_______________________________________________
_______________________
____________ %
1.
Carryforward from previous years. Enclose an explanation or schedule to verify the amount
entered on this line. See instructions below. ........................................................................................ 1. _____________________
2.
2016 tax (Form 1120ME, line 7a plus credit recapture amounts included in line 7b or
Form 1040ME, line 21 or Form 1041ME, Schedule A, line 16) ............................................................. 2. _____________________
3.
2015 tax (Form 1120ME, line 7a plus credit recapture amounts included in line 7b or
Form 1040ME, line 21 or Form 1041ME, Schedule A, line 15) ............................................................. 3. _____________________
4.
Other 2015 credits (Form 1120ME: line 8c plus 8e minus Schedule C, line 29i;
Form 1040ME: lines 25c and 25d plus Schedule A, line 21 minus line 15;
Form 1041ME: Schedule A, line 4 plus line 19 minus lines 11). If zero or less, enter zero ................... 4. _____________________
5.
2015 tax less other credits (line 3 minus line 4) .................................................................................... 5. _____________________
6. Subtract line 5 from line 2 and enter the difference here. If zero or less, enter zero .............................. 6. _____________________
7.
Other 2016 credits (Form 1120ME: line 8c minus Schedule C, lines 1h and 1i;
Form 1040ME: lines 25c, 25d and 25e plus Schedule A, line 21 minus the super credit for
substantially increased research included in Schedule A, line 17; Form 1041ME: Schedule A, line 4
plus line 17 minus any amounts included in Schedule A line 11 related to the super credit for
substantially increased research). If zero or less, enter zero ............................................................... 7. _____________________
8.
2016 tax less other credits (line 2 minus line 7). If zero or less, enter zero ......................................... 8. _____________________
9.
Credit amount. Enter the lowest of line 1, line 6, line 8 or $100,000.
(Enter allowable credit on Form 1120ME, Schedule C, line 1i or Form
1040ME, Schedule A, line 17 or Form 1041ME, Schedule A, line 11) .................................................. 9. _____________________
This credit is repealed for tax years beginning on or after January 1, 2016 except that any unused credit amounts may be carried forward
for up to 5 taxable years.
The credit carryforward amount claimed is limited to the tax liability of the taxpayer and may not reduce the tax liability of the current year
to less than the tax liability of the previous year after all other credits except the high-technology credit. In addition, the credit carryforward
amount may not be used to reduce the tax liability of the taxpayer by more than $100,000 after the allowance of all other credits except
the super research credit carry forward amounts (36 M.R.S. § 5219-L).
Special rules apply to corporations fi ling combined returns. 36 M.R.S. § 5219-M(6).
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 credits in proportion to their respective interests in these entities.
Rev. 10/16

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