Form Aepc - Alternative Energy Production Credit - 2014 Page 4
Download a blank fillable Form Aepc - Alternative Energy Production Credit - 2014 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form Aepc - Alternative Energy Production Credit - 2014 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
41
1
2
1 2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
84
85
3
3
Part III. Credit Calculation
Line 17 – If you completed:
4
4
5
5
(This part is to be completed only by partners in a
Part II, enter the smaller of the amount from line 16
●
6
6
partnership and shareholders of an S corporation.)
and line 8 from Part II.
7
7
In the space provided, enter the business name and Federal
Part III, enter the smaller of the amount from line 16
●
8
8
and line 11 from Part III.
Employer Identification Number of the partnership or S
9
9
corporation that you are receiving the credit from.
10
10
If the amount you calculated on line 16 is larger than the
11
11
Line 9 – Enter your portion of the alternative energy
amount on line 8 from Part II or line 11 from Part III (depending
12
production credit. This amount can be found on the Montana
on which Part you were required to complete), your credit is
12
13
Schedule K-1 you received from the entity.
limited in the current year.
13
14
14
Line 10 – Enter any alternative energy production credit that
If the credit is not fully used against your tax liability in the year
15
15
you are carrying forward from previous year.
the assets are placed in service, you can carry forward any
16
16
unused portion of your tax credit up to seven years. You can
Line 11 – Add lines 9 and 10. This is your total alternative
17
17
carry forward up to fifteen years if:
energy production credit before limitation. Continue to Part IV
18
18
to determine if there is a limitation on your alternative energy
You invest in a 5 megawatt or larger commercial
●
19
19
production credit in 2014.
system located within the exterior boundaries of a
20
20
Montana Indian reservation; and
21
21
Part IV. Credit Limitation
22
22
You sign an employment agreement with the
●
Line 12 – Enter the net income attributable to eligible
23
23
tribal government of the reservation where the
alternative energy equipment. For individuals, this amount
24
commercial system would be constructed regarding
24
should not include any exemptions or deductions.
the training and employment of tribal members in
25
25
the construction, operation and maintenance of the
26
26
If a portion of your business’s taxable or net income qualifies
commercial system.
for this credit and a portion does not qualify, you must prorate
27
27
your income and associated taxes that qualify for this credit
28
28
Income Allocation Worksheet
by using the three-factor formula provided in 15-31-305, MCA.
29
29
The Income Allocation Worksheet has been provided at the
Lines 18, 19 and 20 – If you are a C corporation and have
30
30
bottom of the form for your convenience.
filed a combined return, the amount you enter in the Total
31
31
Factors column should equal the total values from Column A of
32
32
Line 13 – Enter your Montana taxable income.
Form CIT, Schedule K.
33
33
Individuals. Enter the amount from Form 2, line 45; or
34
34
Line 23 – Enter the total net income of the business. For C
35
corporations, enter the amount on line 7 of the CIT.
35
C corporations. Enter the amount from Form CIT, line
36
36
7.
Line 24 – Multiply the amount on line 23 by the amount on line
37
37
22. This is your net income attributable to eligible alternative
Line 14 – Divide line 12 by line 13. Carry the amount to four
38
38
energy equipment. If you are:
decimal places and do not enter more than 1.0000.
39
39
An individual, enter this amount on line 12 of Part IV.
●
40
Line 15 – Enter the total tax from your return.
40
41
41
A C corporation, enter this amount on line 12 of Part
●
Individuals. Enter the amount from Form 2, line 48; or
42
42
IV.
C corporations. Enter the amount from Form CIT, line
43
43
An S corporation or partnership, report each owner’s
●
10.
44
44
distributive share of this amount to them on Montana
45
45
Line 16 – Multiply line 14 by line 15 to calculate the maximum
Schedule K-1. Do not complete lines 12 through 17 of
46
46
amount of alternative energy production credit you can claim
Part IV.
47
47
this year.
Administrative Rules of Montana: 42.4.4101, 42.4.4106,
48
48
Your credit is applied only against taxes due as a
42.4.4107, 42.4.4109, 42.4.4112
49
49
consequence of taxable or net income produced by one of the
50
50
Questions? Please call us toll free at (866) 859-2254 (in
following:
51
51
Helena, 444-6900).
52
52
a manufacturing plant that is located in Montana
●
53
53
and that produces alternative energy generating
54
equipment;
54
55
55
a new business facility or the expanded portion of
●
56
56
an existing business facility for which the alternative
57
57
energy generating equipment supplies, on a direct
58
58
contract sales basis, the basic energy needed; or
59
59
the alternative energy generating equipment in which
●
60
60
the investment was made.
61
61
62
62
63
63
64
64
65
1
2
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84 85
66
66
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial