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Maine Free Printable 20_pine_tree_dev_zone_pte.indd for 2021 Maine Worksheet PTE -- Credit Ratio Worksheet for Individuals Claiming the Pine Tree Development Zone Tax Credit

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Worksheet PTE -- Credit Ratio Worksheet for Individuals Claiming the Pine Tree Development Zone Tax Credit
20_pine_tree_dev_zone_pte.indd

Print Clear Pine Tree Development Zone Tax Credit Worksheet PTE: Pass-Through Entity Credit Ratio for Individuals, Estates, or Trusts for Tax Year 2020 1. Federal adjusted gross income from Form 1040ME, line 14 or federal taxable income from Form 1041ME, line 1 ...................................................................................................... 1. __________________ 2. Total business income of the Pine Tree Development Zone business included in line 1 ................................................................................................................................... 2. __________________ 3. Maine income modifications related to total business income of the Pine Tree Development Zone business (may be a negative number) .................................................... 3. __________________ 4. Maine adjusted gross income from the Pine Tree Development Zone business (combine lines 2 and 3) .......................................................................................................... 4. __________________ 5. Maine adjusted gross income from Form 1040ME, line 16 or Maine taxable income from Form 1041ME, line 3 ...................................................................................................... 5. __________________ 6. Ratio of business income (line 4 divided by line 5; if greater than 1, enter 1.0000) ............... 6. __________________ 7. Pine Tree Development Zone apportionment percentage (as reported by the business entity) ...................................................................................................................................... 7. __________________ 8. Member’s Pine Tree Development Zone credit ratio (line 6 x line 7). Enter here and on the Pine Tree Development Zone Tax Credit Worksheet, line 7 ............................................. 8. __________________ General Instructions What is the Pine Tree Development Zone (“PTDZ”) tax credit? The credit is available to certain businesses and individual owners of businesses that expand or begin operations in Maine. For details about the program, visit: www.maine.gov/revenue/taxes/tax-relief-credits-programs/multiple-tax-programs/ pine-tree-development-zone. Who must complete this worksheet? An individual taxpayer claiming a PTDZ credit from either a sole proprietorship or a pass-through entity (partnership, S corporation, etc.) must calculate the ratio of business to nonbusiness income on this worksheet. The result of this worksheet is then transferred to the PTDZ credit worksheet in order to calculate the actual credit for the year. This worksheet and the PTDZ credit worksheet must be attached to the taxpayer’s Maine income tax return (Form 1040ME or 1041ME) along with a copy of the Pine Tree Development Zone certificate issued to the business by the Department of Economic and Community Development. What does this worksheet do? This worksheet calculates the business to nonbusiness income ratio for individual taxpayers claiming the PTDZ income tax credit. Individuals claiming this credit must also complete the Pine Tree Development Zone tax credit worksheet, which calculates the applicable credit. For more information about the PTDZ program and the related benefits, see Maine Revenue Services guidance on the Pine Tree Development Zone Credit program available at: www.maine.gov/revenue/ taxes/tax-relief-credits-programs/multiple-tax-programs/pine-tree-development-zone. Specific Instructions Line 2. Enter on this line the total income from the qualified Pine Tree Development Zone business from federal Schedule C (for sole proprietor) or Schedule K-1 (for member of a pass-through entity). Line 3. Enter on this line the amount of business related income modifications related to this qualified business included on Maine Form 1040ME, Schedule 1A and Schedule 1S or Form 1041ME, Schedule 1. Revised: December 2020
Extracted from PDF file 2020-maine-pine-tree-credit-worksheet-worksheet-pte.pdf, last modified December 2020

More about the Maine Pine Tree Credit Worksheet (Worksheet PTE) Other Tax Credit TY 2020

We last updated the Worksheet PTE -- Credit Ratio Worksheet for Individuals Claiming the Pine Tree Development Zone Tax Credit in February 2021, so this is the latest version of Pine Tree Credit Worksheet (Worksheet PTE), fully updated for tax year 2020. You can download or print current or past-year PDFs of Pine Tree Credit Worksheet (Worksheet PTE) directly from TaxFormFinder. You can print other Maine tax forms here.


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Related Maine Other Forms:

TaxFormFinder has an additional 61 Maine income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Maine Pine Tree Credit Worksheet (Worksheet PTE).

Form Code Form Name
Pine Tree Credit Pine Tree Development Zone Tax Credit

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 Pine Tree Credit Worksheet (Worksheet PTE) from the Revenue Services in February 2021.

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Pine Tree Credit Worksheet (Worksheet PTE) 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 Pine Tree Credit Worksheet (Worksheet PTE)

We have a total of six past-year versions of Pine Tree Credit Worksheet (Worksheet PTE) in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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