Maine Biofuel Production And Use Tax Credit Worksheet

Maine Biofuel Production And Use Tax Credit Worksheet - 2015

BIOFUEL PRODUCTION AND USE TAX CREDIT

WORKSHEET FOR TAX YEAR 2015

36 M.R.S. § 5219-X

TAXPAYER NAME: _____________________________________ EIN/SSN: ________________

Note: In the case of pass-through entities (such as partnerships, LLCs, S corporations, and 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

________________________________________________________________

____________________________

Maine taxable income generated from the production of certiﬁ ed biofuel ................................1. _______________

Applicable tax rate on Maine taxable income (see instructions) ...............................................2. . __ __ __ __ __ __

Tax liability related to credit (line 1 x line 2) ..............................................................................3. _______________

Gallons of biofuel eligible for the credit .....................................................................................4. _______________

Credit rate .................................................................................................................................5.

$0.05

Credit claimed ( line 4 x line 5) .................................................................................................6. _______________

Credit carried forward from prior years .....................................................................................7. _______________

Total credit available this year (add line 6 and line 7) ...............................................................8. _______________

Credit amount: Enter the smaller of line 3 or line 8. Enter here and on Form

1120ME, Schedule C, line 29n or Form 1040ME, Schedule A, line 20, or

Form 1041ME, Schedule A, line 16 ..........................................................................................9. _______________

Unused credit amounts may be carried forward to the next succeeding ten taxable years.

Rev. 08/15

Maine Biofuel Production And Use Tax Credit Worksheet - 2015