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Maine Free Printable 18_MEFishInfrastructInvestCrWksht 11.20.18.indd for 2024 Maine Maine Fishery Infrastructure Investment Tax Credit

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Maine Fishery Infrastructure Credit is obsolete, and is no longer supported by the Maine Department of Revenue.

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Maine Fishery Infrastructure Investment Tax Credit
18_MEFishInfrastructInvestCrWksht 11.20.18.indd

MAINE FISHERY INFRASTRUCTURE INVESTMENT TAX CREDIT WORKSHEET FOR TAX YEAR 2018 36 M.R.S. § 5216-D TAXPAYER NAME: _____________________________________ EIN/SSN: ________________ Note: Owners of pass-through entities (such as partnerships, LLCs, corporations, trusts, etc.) making an eligible investment, see instructions. Enter name and ID number of the pass-through entity on the lines below. NAME OF PASS-THROUGH ENTITY ________________________________________________________________ EIN/SSN ____________________________ Note: You cannot claim this credit if the investment or contribution is claimed as a deduction for federal tax purposes. 1a. Enter 25% of the total credit from the tax credit certificate issued by the Department of Inland Fisheries and Wildlife during the tax year beginning in 2015 ........................... 1a. _____________________ 1b. Enter 25% of the total credit from the tax credit certificate issued by the Department of Inland Fisheries and Wildlife during the tax year beginning in 2016 ........................... 1b. _____________________ 1c. Enter 25% of the total credit from the tax credit certificate issued by the Department of Inland Fisheries and Wildlife during the tax year beginning in 2017 ........................... 1c. _____________________ 1d. Enter 25% of the total credit from the tax credit certificate issued by the Department of Inland Fisheries and Wildlife during the tax year beginning in 2018 ........................... 1d. _____________________ 2. Total credit amount. Add lines 1a through 1d ................................................................... 2. _____________________ 3. Enter the unused portion of the credit shown on line 2 of the Maine Fishery Infrastructure Investment Tax Credit worksheet for tax year 2017.................................... 3. _____________________ 4. Total credit available this year. Line 2 plus line 3 ............................................................. 4. _____________________ 5. Tax liability for tax year beginning in 2018. Enter the amount from Form 1040ME, Schedule A, line 22; Form 1120ME, Schedule C, line 1t; or Form 1041ME, Schedule A, line 17 .............................................................................. 5. _____________________ 6. Line 5 multiplied by 50% ...................................................................................................6. _____________________ 7. Credit amount. Enter the smaller of line 4 and line 6. Also enter this amount on Form 1040ME, Schedule A, line 20; Form 1120ME, Schedule C, line 1p or Form 1041ME, Schedule A, line 15 ........................................................................................................... 7. _____________________ This credit is limited to your Maine income tax liability. If you did not use all of the credit on line 2 this year, you may carry the unused portion forward for up to 15 years. Rev. 11/18 2018 MAINE FISHERY INFRASTRUCTURE INVESTMENT TAX CREDIT WORKSHEET INSTRUCTIONS An income tax credit is available for investments in, or contributions to, public fishery infrastructure projects. The credit is equal to 50% of the eligible investment or contribution, as certified by the Department of Inland Fisheries and Wildlife, and must be taken in equal installments over four years. The investment/contribution limit per project is $5,000,000. The credit taken in any year is limited to 50% of the tax liability for that taxable year prior to the application of the credit and may not reduce the tax otherwise due to less than zero. Any portion of the credit left unused due to this limitation may be carried forward for up to 15 years. The credit is subject to recapture and is prohibited if the taxpayer claims a federal income tax deduction for the investment or contribution. In the case of pass-through entities (such as partnerships, LLCs, S corporations, and trusts), the partners, members, shareholders, beneficiaries or other owners are allowed a credit in proportion to their respective interests in these entities. If you are a member of a pass-through entity, enter on lines 1a, 1b, 1c and 1d your share of the tax credit certificates reported to you by the entity. Include a copy of the certificate issued to you by the Department of Inland Fisheries and Wildlife with this worksheet.
Extracted from PDF file 2018-maine-maine-fishery-infrastructure-credit.pdf, last modified December 2018

More about the Maine Maine Fishery Infrastructure Credit Other Tax Credit

We last updated the Maine Fishery Infrastructure Investment Tax Credit in April 2021, and the latest form we have available is for tax year 2018. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Maine Revenue Services. You can print other Maine tax forms here.


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Other Maine Other Forms:

TaxFormFinder has an additional 61 Maine income tax forms that you may need, plus all federal income tax forms.

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Download all ME tax forms View all 62 Maine Income Tax Forms


Form Sources:

Maine usually releases forms for the current tax year between January and April. We last updated Maine Maine Fishery Infrastructure Credit from the Revenue Services in April 2021.

Show Sources >

Maine Fishery Infrastructure Credit is a Maine Other form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

Historical Past-Year Versions of Maine Maine Fishery Infrastructure Credit

We have a total of four past-year versions of Maine Fishery Infrastructure Credit in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2018 Maine Fishery Infrastructure Credit

18_MEFishInfrastructInvestCrWksht 11.20.18.indd

2017 Maine Fishery Infrastructure Credit

17_MEFishInfrastructInvestCrWksht.indd

2016 Maine Fishery Infrastructure Credit

16_MEFishInfrastructInvestCrWksht.indd

Maine Fishery Infrastructure Investment Tax Credit 2015 Maine Fishery Infrastructure Credit

15_MEFishInfrastructInvestCrWksht.indd


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