Form 500cr - Income Tax Credits - 2011 Page 6
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19MARYLAND BUSINESS
FORM
500CR
INCOME TAX CREDITS
ATTACH TO YOUR 500, 502, 504, 505, 510, or MW508
2011
Part P - II
CREDIT AGAINST TAX LIABILITY AND TAX ON INCOME FROM THE PROjECT
All qualified persons
(except for PTEs)
COMPLETE PART P-II to calculate the portion of the credits allowable for this tax year that
including PTE members
will reduce your tax liability
Section A Project Costs
14. Enter the sum of project cost credits and refunds taken in prior tax years. . . . . . . . . . . . . . . . . . . . 14
15. Subtract line 14 from line 9; if less than 0, enter 0. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
16. Maryland State tax liability on income from the project (enter the amount from line 7b) . . . . . . . . . 16
17. Credit against tax on income from the project (enter the lesser of line 15 or line 16) . . . . . . . . . . . 17
Section B Start-up Costs
18. Enter the sum of start-up cost credits and refunds taken in prior tax years . . . . . . . . . . . . . . . . . . . 18
19. Subtract line 18 from line 12; if less than 0, enter 0 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
20. Enter the lesser of line 13 or line 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
21. Remaining Maryland State tax liability after deducting credits taken for project costs in Section A
(Subtract line 17 from line 6; if less than 0, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
22. Nonrefundable portion of the start-up credit. This amount cannot exceed any
remaining tax liability. Enter the lesser of line 20 or line 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Part P-III REFUNDABLE CREDIT
Section A Project costs
23. Credit remaining after deducting credit against tax on income from the project
(Subtract line 17 from line 15; if less than 0, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
24. Tax on non-project income (enter the amount from line 8b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
25. Tax available for application of credit
(subtract line17 and line 22 from line 6; if less than 0, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
26. Credit against tax on non-project income (enter the lesser of lines 23, 24 or line 25) . . . . . . . . . . . 26
27. Tentative refund (subtract line 26 from line 23; if less than 0, enter 0) . . . . . . . . . . . . . . . . . . . . . . 27
28. Maryland income tax required to be withheld during this tax year from qualified employees
(Enter the amount from line 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
29. Refund allowable for this tax year. Subtract line 26 from line 28 (if less than 0, enter 0)
and enter this amount or line 27, whichever is less.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Section B Start-up costs
30. Tentative refund (subtract line 22 from line 20; if less than 0, enter 0) . . . . . . . . . . . . . . . . . . . . . . 30
31. Maryland income tax required to be withheld during this tax year from qualified employees
(from line 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
32. Refund allowable for this tax year (enter the lesser of line 30 or line 31). . . . . . . . . . . . . . . . . . . . . 32
Part P-IV SUMMARY
33. Total nonrefundable credit for project costs (enter the sum of line 17 and line 26) . . . . . . . . . . . . . 33
34. Total nonrefundable credit for start-up costs (enter amount from line 22) . . . . . . . . . . . . . . . . . . . . 34
35. Total nonrefundable One Maryland Economic Development Tax Credit. (Add lines 33 and 34) . . . 35
36. Total refundable credit for project costs. (Enter amount from line 29) . . . . . . . . . . . . . . . . . . . . . . . 36
37. Total refundable credit for start-up costs. (Enter amount from line 32) . . . . . . . . . . . . . . . . . . . . . . 37
38. Total refundable One Maryland Economic Development Tax Credit. (Add lines 36 and 37). . . . . . 38
PART Q - GREEN BUILDING TAX CREDIT ** Must Attach Required Certification
1. Credit (certified by the Maryland Energy Administration). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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6
COM/RAD 007
11-49
Rev 9/12
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