Dual Residence Reduction Of Tax Credit Worksheet For Tax Year 2016 printable pdf download

SCHEDULE A — MAINE TAX ADJUSTMENTS - See page 21

Tax Credit Worksheets Required. For more information on all tax credits and related worksheets, visit

(select

You must complete and attach a tax credit worksheet for each tax credit claimed.

Worksheets for Tax Credits) or call (207) 626-8475.

SECTION 1 - REFUNDABLE CREDITS:

Line 13. Nonrefundable Credit for Educational Opportunity.

Graduates of accredited colleges and universities (or employers of

Line 1. Refundable portion of the Child Care Credit. For Maine

qualiﬁ ed graduates) may qualify for a credit based on certain loan

residents and part-year residents only. Up to $500 of your Child Care

payments made in 2016. Enclose worksheet.

Credit is refundable. Enter the amount from line 5, or line 5a, of the

worksheet for Child Care Credit. Enclose worksheet.

Line 14. Maine Capital Investment Credit. If your business placed

depreciable property in service in Maine during tax years 2011 through

Line 2. Refundable portion of the Adult Dependent Care Credit. Up to

2016, you may qualify for this credit. Enclose worksheet.

$500 of your credit may be refundable. Enter the amount from line 7, or line

7a, of the worksheet for Adult Dependent Care Credit. Enclose worksheet.

Line 15. Research Expense Tax Credit. If your business invested in

research, you may qualify for this credit. Enclose worksheet.

Line 3. Refundable Earned Income Tax Credit. For Maine residents

and part-year residents only. Your Maine earned income tax credit is

Line 16. Wellness Programs Credit. An employer with 20 or fewer

refundable. Enter the amount from line 2 or line 3 of the worksheet for

employees that incurred expenses for developing, instituting and

Earned Income Tax Credit, whichever is applicable. Enclose worksheet.

maintaining a wellness program may qualify for this credit. Enclose

worksheet.

Line 4. Refundable Credit for Educational Opportunity. Graduates

of accredited colleges and universities who have obtained a bachelor’s

Line 17. Carryforward of Certain Credits. Enter on this line unused

degree in science, technology, engineering or mathematics or an

portions of the following credits carried forward from prior years: • • Super

associate degree may qualify for a refundable credit based on certain

Credit for Substantially Increased Research and Development • Maine

loan payments made in 2016. Enclose worksheet.

Minimum Tax Credit • • High-technology investment tax credit • Biofuel

Production Tax Credit • Jobs and Investment Tax Credit • Employer

Line 5. Rehabilitation of historic properties after 2007. If you have

credits for payment of employee expenses (long-term care insurance,

qualiﬁ ed rehabilitation expenditures associated with a historic structure

day care expenses, dependent health beneﬁ ts) • “Step 4” Quality Child

located in Maine that is placed in service during the tax year, you may

Care Investment Tax Credit. Enclose worksheet(s).

qualify for this credit. Enclose worksheet.

Lines 18 & 19. Media Production / Pine Tree Development Zone

Line 6. New Markets Capital Investment Credit. An investor that holds

Credits. If your business produced a movie or other type of media

a qualiﬁ ed equity investment certiﬁ cate may be eligible for this credit.

production or if you expanded your business in Maine, you may qualify

Enclose worksheet.

for one of these credits, certiﬁ ed through the Department of Economic

SECTION 2 - NONREFUNDABLE TAX CREDITS:

and Community Development. Enclose worksheet(s).

Line 8. Nonrefundable portion of the Child Care Credit. Enter the

Line 20. Other Tax Credits. Enter the amount of Maine Fishery

amount from line 6, or line 6a, of the worksheet for Child Care Credit.

Infrastructure Credit for investments in, or contributions to, public ﬁ shery

Enclose worksheet.

infrastructure projects. Enclose worksheet.

Line 9. Nonrefundable portion of the Adult Dependent Care Credit.

Nonresidents and “Safe Harbor” Residents only: Personal credits

Enter the amount from line 8, or line 8a, of the worksheet for Adult

(Form 1040ME, Schedule A, lines 1, 2, 3, 4, 8, 9, 10, 11, and 13) are

Dependent Care Credit. Enclose worksheet.

limited to the Maine residency period or prorated based on the ratio of

Maine income to total income. Business tax credits on Form 1040ME,

Line 10. Nonrefundable Earned Income Tax Credit. For nonresidents

Schedule A, line 12 and lines 14 through 20 may be claimed in their

only. Enter the amount from line 3 of the worksheet for Earned income

entirety, up to the Maine tax liability. Carryover provisions may apply.

tax credit. Enclose worksheet.

If the nonrefundable business credit(s) on Form 1040ME, line 22 are

Line 11. Credit for Income Tax Paid to Other Jurisdictions. Enter the

further limited due to the nonresident credit on Form 1040ME, line 23,

amount from line 5 of the Worksheet for Credit for Income Tax Paid to

you may have unused business credits on Form 1040ME, line 24 that

Other Jurisdictions. Enclose worksheet.

may be carried over (Form 1040ME, line 21 minus lines 22 and 23).

Line 12. Maine Seed Capital Credit. If you invested in a qualiﬁ ed

A negative amount should be shown on Form 1040ME, line 24 with a

Maine business of which you are not a principal owner, you may qualify

minus sign in the box to the left of the number.

for a credit through the Finance Authority of Maine. Enclose worksheet.

Dual Residence Reduction Of Tax Credit Worksheet For Tax Year 2016

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