Research Expense Tax Credit Worksheet - 2011

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RESEARCH EXPENSE TAX CREDIT
WORKSHEET FOR TAX YEAR 2011
36 MRSA § 5219-K
TAXPAYER NAME: _____________________________________ EIN/SSN: ________________
Note: Owners of pass-through entities (such as partnerships, LLCs, S corporations, trusts) 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.
Basic research payments in excess of the federal base that were spent for research
conducted in Maine included on federal Form 6765, Section A, line 4 or
Form 6765, Section B, line 21. If research is conducted both in and outside of
Maine, see instructions on how to calculate the amount to enter on this line .................. 1. ____________________
2.
Basic Research payments credit: Line 1 x 7.5% (0.075) ................................................ 2. ____________________
3.
Total qualifi ed research expenses spent for research conducted in Maine included
on federal Form 6765, Section A, line 9 or Form 6765, Section B,
line 28 .............................................................................................................................. 3. ____________________
4.
Total qualifi ed research expenses applied to research conducted in Maine for
the three previous years. For calendar year fi lers, these are (for short tax years,
see instructions):
2010 _______________
2009 _______________
2008 _______________
Total________________ ÷3 = Base amount ................................................................. 4. ____________________
5.
Qualifi ed research expenses in excess of base amount (Line 3 minus line 4) ............... 5. ____________________
6.
Qualifi ed Research expense credit: line 5 x 5% (0.05) .................................................... 6. ____________________
7.
Carryforward from previous years (see instructions) ...................................................... 7. ____________________
8.
Total available credit: Line 2 plus line 6 plus line 7. Corporations: if amount is greater
than $25,000, see instructions. Enter allowable credit amount on Form 1120ME,
Schedule C, line 29g or Form 1040ME, Schedule A, line 12 ........................................... 8. ____________________
If this is the only Maine income tax credit you are claiming this year, complete lines 9 and 10. Otherwise, go to line 11.
9. Tax Liability. Enter the amount from Form 1120ME, line 7a or Form 1040ME,
Schedule A, line 20 ............................................................................................................. 9. ____________________
10. Credit Used. Enter the lesser of line 8 or line 9 ............................................................... 10. ____________________
11. Carryforward amount available for future tax years:
a.
If you completed lines 9 and 10, subtract line 10 from line 8.
b.
If you did not complete lines 9 and 10, enter the amount from line 8 not
used on Form 1040ME, Schedule A or Form 1120ME, Schedule C as a result
of claiming other Maine credits and because the total of all credits claimed is
limited to the Maine tax liability ............................................................................... 11. ____________________
Rev. 2/12

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