2006 Maine Minimum Tax Worksheet (Line 3a) printable pdf download

Attachment

2006 MAINE MINIMUM TAX WORKSHEET

Sequence No.

Use this Worksheet to complete:

Form 1040ME, Schedule A, Line 3a – Enclose a copy of your 2006 federal Form 6251

*0602124*

Name(s) as shown on Form 1040ME

Your Social Security Number

Do you owe a Maine Minimum Tax?

Maine taxpayers must complete the Maine Minimum Tax Worksheet to determine whether they owe

a Maine minimum tax only if the total of Maine tentative alternative minimum taxable income (“AMTI”) (federal Form 6251, line 28 plus

Maine addition income modiﬁ cations [see the Maine Minimum Tax Worksheet for line 2]) is greater than the applicable Maine minimum

tax exemption amount shown on line 4 below. Individuals not required to ﬁ le federal Form 6251 must complete a pro forma to determine

the federal alternative minimum taxable income amount for Maine purposes. Taxpayers that do not owe a Maine minimum tax are not

required to ﬁ le the Maine minimum tax worksheet with their Maine income tax return.

Federal alternative minimum taxable income (Federal Form 6251, line 28) .............................................................................. 1. ________________

Modiﬁ cations (May be a positive or negative number) - See instructions .............................................................................. 2. ________________

Maine tentative alternative minimum taxable income (line 1 plus or minus line 2). If zero or less, enter zero ........................... 3. ________________

Exemption. Enter amount for your ﬁ ling status shown below: ................................................................................................. 4. ________________

If your ﬁ ling status is:

and line 3 is not over:

Enter on line 4:

Single or Head of Household ........................................... $112,500 .......................................................$33,750

Married ﬁ ling Jointly or Qualifying Widow(er) ...................$150,000 .......................................................$45,000

Married Filing Separately ...................................................$75,000 .......................................................$22,500

If line 3 is more than the amount shown above for your ﬁ ling status, see instructions.

Maine alternative minimum taxable income (subtract line 4 from line 3). If zero or less, enter zero .......................................... 5. ________________

Tentative minimum tax. See instructions ................................................................................................................................. 6. ________________

Nonresident and part-year resident apportionment factor (Maine residents enter 100%) - See instructions ...................... 7. __ __ __ . __ __%

Multiply line 6 by line 7, enter result here ................................................................................................................................... 8. ________________

Maine income tax (Form 1040ME, line 20 less line 25) ............................................................................................................. 9. ________________

10. Alternative minimum tax (Subtract line 9 from line 8) ............................................................................................................... 10. ________________

11. Credit against the Maine minimum tax for minimum tax paid to other jurisdictions (For Maine residents only).

Enter line E from Worksheet below. ....................................................................................................................................... 11. ________________

12. Maine Minimum Tax (subtract line 11 from line 10 – if zero or less, enter zero. Enter result on 1040ME, Schedule A, line 3a) 12. ________________

(Worksheet for line 11 above – Maine residents only: Credit Against the Maine Minimum Tax for minimum tax paid to other jurisdictions)

A. Taxpayer’s Maine tentative alternative minimum taxable income (Line 3 above) ......................................................................A. ________________

B. Income included in line A above that is derived from other jurisdiction ......................................................................................B. ________________

C. Percentage of income taxed by other jurisdiction (Divide line B by line A) ................................................................................ C. __ __ __ . __ __%

D. Limitation of credit:

1. Maine alternative minimum tax (Line 10 above) multiplied by percent on line C ........................D(1). ________________

2. Minimum tax paid other jurisdiction on income taxed under the Maine minimum tax .................D(2). ________________

E. Allowable credit, the lesser of lines D(1) or D(2). Enter here and on line 11 above ..................................................................E. ________________

2006 MAINE MINIMUM TAX CREDIT AND CARRYFORWARD TO 2007

Worksheet for Form 1040ME, Schedule A, Line 15

Enclose a copy of 2006 federal Form 8801

13. Enter the amount from the 2005 Maine Form 1040ME, Schedule A, line 3c ........................................................................... 13. ________________

14. Minimum tax credit carryforward from 2005 (2005 Maine Minimum Tax Worksheet, line 21) .................................................. 14. ________________

15. Enter 2005 net state minimum tax on federal exclusion items – From worksheet at ...................... 15. ________________

16. 2005 adjusted net state minimum tax (Line 13 plus line 14 minus line 15 – if zero or less, enter zero) .................................. 16. ________________

17. Enter 2006 Maine income tax liability (2006 Form 1040ME, line 20 plus line 21 [except minimum tax] minus line 22

minus line 24 [except minimum tax credit] minus line 25) ........................................................................................................ 17. ________________

18. Enter 2006 Maine tentative minimum tax (Line 8 above) ......................................................................................................... 18. ________________

19. Subtract line 18 from line 17 (If zero or less, enter zero) ......................................................................................................... 19. ________________

20. Maine minimum tax credit: Enter the lesser of line 16 or 19 here and on Form 1040ME, Schedule A, line 15 .................... 20. ________________

21. Maine minimum tax credit carryforward to 2007 (Subtract line 20 from line 16) ................................................................. 21. ________________

NOTE: If you have a Maine minimum tax credit carryforward to 2007, keep a copy of the worksheet to submit with

your 2007 Maine individual income tax return.