Form 80-315-12-8-1-000 - Mississippi Reforestation Tax Credit - 2012

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Form 80-315-12-8-1-000 (Rev. 05/12)
Mississippi
MS
Page 1
Reforestation Tax Credit
2012
Taxpayer Name
SSN
__ __ __ - __ __ - __ __ __ __
__ __ - __ __ __ __ __ __ __
FEIN
PART I : COMPUTATION OF CREDIT
1. Total expenditures during the year 2012 for seedlings, seed/acorns, seeding, planting by hand or machine, site
_, _ _ _, _ _ _.
00
preparation , and post-planting site preparation on all eligible acres.
2.
Total cost of approved practices as established by the Mississippi Forestry Commission. Complete the worksheet on
_, _ _ _, _ _ _.
00
the reverse side of this form and enter the total from Column C here.
_, _ _ _, _ _ _.
00
3. Eligible Costs (Enter lesser of Line 1 or Line 2)
_, _ _ _, _ _ _.
00
4. Enter 50% of amount in Line 3 above or $10,000 whichever is less. This is your RTC earned this year.
_, _ _ _, _ _ _.
00
5a.
Enter the amount of RTC carried over from earlier years. (Must Attach a copy of Form 80-315 for immediate prior year)
_, _ _ _, _ _ _.
00
5b. Enter the current year RTC passed through to you as an investor in a pass-through entity. (Refer to Forms K-1)
6.
Total Amount of RTC available to be utilized this year (Add Lines 4 , 5a & 5b, but do not enter an amount larger
_, _ _ _, _ _ _.
00
which
than the amount shown on Line 16, Part IV, below) Pass-through entities only: This is the amount of RTC
is available to be passed through to investors. Enter this amount on Form 83-401 and skip Parts II and III.
.
.
.
.
Investment Tax Credit
YES
NO
Was either of the following elected on your Federal income tax return with respect to
.
.
the qualifying expenditures on the same eligible lands on which the RTC is claimed:
.
.
.
.
Reforestation Amortization
YES
NO
.
.
PART II: REFORESTATION TAX CREDIT UTILIZED THIS YEAR:
(NOTE: When married taxpayers file jointly and each spouse qualifies as an eligible owner, see Instructions for completion of lines 7 and 8.)
7.
Enter the amount of total income tax due shown on Line 22, Form 80-105 & 80-205 (individuals); Line 5, Form 83-105
_, _ _ _, _ _ _.
00
(corporations); or Line 7, Form 81-110 (fiduciary return).
8. Enter the total amount of all other credit(s) available to you this year. (Refer to the instructions for the income tax
_, _ _ _, _ _ _.
00
return you are filing for a list of available credits) Do not include withholding or estimated tax payments.
_, _ _ _, _ _ _.
00
9. Net Income Tax Due (Line 7 minus Line 8)
_, _ _ _, _ _ _.
00
10. Reforestation Tax Credit (Enter LESSER of Line 6 or Line 9.) Enter here and Form 83-401
PART III: COMPUTATION OF RTC CARRYOVER AMOUNT:
_, _ _ _, _ _ _.
00
11. Total Reforestation Tax Credit available to be utilized this year. (Amount from Line 6 above)
_, _ _ _, _ _ _.
00
12. Amount of RTC utilized this year. (Amount from Line 10 above)
_, _ _ _, _ _ _.
00
13. Amount of RTC available to be carried forward and used in succeeding tax years. (Line 11 minus Line 12)
PART IV: COMPUTATION OF ACCUMULATED RTC LIFETIME CREDIT UTILIZIED:
_, _ _ _, _ _ _.
00
7 5 0 0 0
14. LIFETIME REFORESTATION TAX CREDIT ALLOWANCE
15.
Total RTC utilized in prior years to offset income tax due. (Total of amounts shown on Line 12, Part III, Form 80-315,
_, _ _ _, _ _ _.
00
for ALL prior taxable years) Pass-through entities: Enter total RTC passed through to investors in ALL prior years.
16.
Balance of Lifetime RTC allowance available to be used. (Line 14 minus Line 15) For pass-through entities, this is the
_, _ _ _, _ _ _.
00
balance of your lifetime RTC allowance which is available to be passed through to investors.
PART V: CERTIFICATION OF FORESTER
In accordance with the requirements set forth in Miss Code Ann S 27-7-18, I certify that a reforestation prescription or plan as indicated above for eligible
S
lands owned by
a graduate forester of a college, school or university accredited by the Society of American Foresters; or
a registered forester under the Foresters Registration Law of 1977;
and that the reforestation practices below have been completed; and that the reforestation prescription or plan was followed.
Site Preparation
Cost of Seedlings and/or Seed/Acorns
Planting by Hand or Machine and/or Seeding
Post-planting Site Preparation Practices
Signature
Title
Date
Business Address
Identifying Number
Duplex or Photocopies NOT Acceptable

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