Fillable Montana Form Aepc - 2011 Alternative Energy Production Credit printable pdf download

MONTANA

CLEAR FORM

AEPC

Rev 06 11

2011 Alternative Energy Production Credit

15-32-401 through 406, MCA

Name (as it appears on your Montana tax return)

Social Security

Federal Employer

Number

Identification Number

If this credit is passed through to you from a partnership or S corporation, enter the entity’s name, FEIN and the

percentage used to report the corporation’s or partnership’s income or loss for Montana income tax purposes.

Name _________________________________________ FEIN

Percentage _________ %

Location of your alternative energy producing assets ______________________________________________________

Credit Calculation

1. Enter the amount of your eligible alternative energy equipment investment ................................. 1.

2. Enter your Montana taxable income (Individuals, Form 2, line 45; C corporations, Form CLT-4,

line 9) .............................................................................................................................................2.

3. Enter the net income attributable to eligible alternative energy equipment.

► If the alternative energy production income is part of a business with both qualifying and

nonqualifying income sources, the Income Allocation Schedule below must be used to

calculate the amount on this line ...............................................................................................3.

4. Subtract the amount on line 3 from the amount on line 2 and enter the result here ..................... 4.

5. Enter the total tax as shown on your return (Individuals, Form 2, line 48; C corporations, Form

CLT-4, line 10.) ..............................................................................................................................5.

6. Calculate the tax due for the income reported on line 4 (Individuals use 6.9%; C corporations use

6.75%.) ..........................................................................................................................................6.

7. Subtract line 6 from line 5 to calculate income tax attributable to alternative energy production

and enter the result here. (The amount of credit applied may not exceed this amount.) .............. 7.

8. Enter 35% (0.35) of line 1 to calculate your Montana alternative energy production credit; include

your carryforward amount $___________ from previous years in your line 8 total. This is your

allowable alternative energy production credit. ...................................................................... 8.

Where to Report Your Credit

► Individuals: Form 2, Schedule V

► S corporations: Form CLT-4S, Schedule II

► C corporations: Form CLT-4, Schedule C

► Partnerships: Form PR-1, Schedule II

Income Allocation Schedule

b. Montana

c. Factor

a. Total Factors

Factors

(b) divided by (a) = (c)

9. Business property $

Alternative energy related property

10. Business payroll

Alternative energy related payroll

10.

11. Business sales

Alternative energy related sales

11.

12. Enter the sum of the factors from lines 9, 10 and 11 ....................................................................12.

13. Divide the amount from line 12 by 3 and enter the result here .....................................................13.

14. Enter the amount from line 2 above .............................................................................................14.

15. Multiply the amount on line 14 by the amount on line 13. This is your net income attributable to

eligible alternative energy equipment. Enter here and on line 3 above ........................................15.

If you file your Montana tax return electronically, you do not need to mail this form to us unless we ask you for a copy. When you file electronically, you

represent that you have retained the required documents in your tax records and will provide them upon the department’s request.

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