Looking for a Massachusetts Tax Forms And Templates? Download it for free!

Schedule SC

2004

Septic Credit

Massachusetts

Credit for Repairing or Replacing

Department of

a Failed Cesspool or Septic System

Revenue

Name(s) as shown on Massachusetts Forms 1, 1-NR/PY or 2

Social Security number(s)

Address of principal residence with a failed system

City/Town

State

Zip

Part 1. General Information

May your parents (or someone else) claim you as a dependent on their 2004 Massachusetts income tax form? You must check yes or no:

Yes

No. If “Yes,” you do not qualify for this credit.

2a Date certificate of compliance or verification letter issued:

. Retain a copy of Certificate of Compliance or verification letter.

2b Name of approving authority:

List names, addresses and percentage of ownership of any co-owners of the above property. If a condominium, list legal name of the condominium

association and total number of owners:

If you were a co-owner of the property for which this credit is being claimed, enter the percentage of the total actual costs that you paid. If you were

_____

the sole owner of the property, enter 100%:

If you received a subsidized loan from the Commonwealth, or a betterment issued by a municipality to complete repairs or replacement of a qualified

cesspool or septic system, complete the following (you must also complete Part 5):

Subsidized loan issued under homeowner septic repair program

__________________________

Name of participating lender:

__________

Amount of loan: $

__________

Loan term (in months):

Interest rate:

Loan issued by municipality and assessed as a betterment (see instructions) to your property tax bill

__________________________

Name of municipality:

__________

Amount of betterment: $

______

Number of years to repay betterment:

____

Interest rate:

Part 2. Computation of Credit.

Complete Part 2 only if Certificate of Compliance or verification letter was issued in 2004.

6a Briefly describe the nature of expenditures made to comply with Title 5 or to connect to a municipal sewer system pursuant to a federal court order,

Administrative Consent Order, state court order, consent decree or similar mandate. Complete details

must be available upon request. Also include any actual costs incurred in 1995 through 2003.

Date paid

Actual cost

27 Total actual costs to repair or replace a failed cesspool or septic system or to connect to a municipal sewer system.

Add all amounts in line 6, column c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

28 Maximum amount available for computation of the credit. Enter the smaller of line 7 or $15,000 . . . . . . . . . . . . . . . . . . . . 8

29 Amount of actual costs available for the credit. Multiply line 8 by .40 (40%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

Part 3. Current Year Credit

10 Maximum Septic Credit available this year. If Certificate of Compliance or verification letter was issued in 2004, enter

the smaller of line 9 or $1,500. If claiming a carryover credit, enter the smaller of 2003 Schedule SC, line 16, column C

or $1,500 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

11 Adjusted Septic Credit. Multiply line 10 by the percentage in line 4. Enter the result in line 11 . . . . . . . . . . . . . . . . . . . . . 11

12 Interest subsidy received, if any (from Part 5, line 37) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

13 Adjusted Septic Credit available for 2004. Subtract line 12 from line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

14 Total tax from Form 1, line 27, Form 1-NR/PY, line 31 or Form 2, line 43, less Limited Income Credit, Credit for Taxes

Paid to Other Jurisdictions, Energy Credit, Lead Paint Credit, Economic Opportunity Area Credit, Full Employment

Credit and/or Brownfields Credit and/or Low Income Housing Credit, if any . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

15 Massachusetts Septic Credit allowable this year. Enter the smaller of line 13 or line 14 here and on Form 1, Schedule Z,

Form 1-NR/PY, Schedule Z or Form 2, line 44. Do not enclose with your return. Retain for your records. . . . . . . . . . . . . 15

Schedule Sc - Septic Credit For Repairing Or Replacing A Failed Cesspool Or Septic System - 2004

Related Articles

Related forms

Related Categories