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HIGH-TECHNOLOGY INVESTMENT TAX CREDIT

WORKSHEET FOR TAX YEAR 2016

36 M.R.S. § 5219-M

TAXPAYER NAME: _____________________________________ EIN/SSN: ________________

Note: Owners 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. Also enter your ownership

percentage in the pass-through entity for the tax year.

OWNERSHIP

NAME OF PASS-THROUGH ENTITY

EIN/SSN

PERCENTAGE

_______________________________________________

_______________________

____________ %

Carryforward from previous years. Enclose an explanation or schedule to verify the amount

entered on this line. See instructions below. ........................................................................................ 1. _____________________

2016 tax (Form 1120ME, line 7a plus credit recapture amounts included in line 7b or

Form 1040ME, line 21 or Form 1041ME, Schedule A, line 16) ............................................................. 2. _____________________

2015 tax (Form 1120ME, line 7a plus credit recapture amounts included in line 7b or

Form 1040ME, line 21 or Form 1041ME, Schedule A, line 15) ............................................................. 3. _____________________

Other 2015 credits (Form 1120ME: line 8c plus 8e minus Schedule C, line 29i;

Form 1040ME: lines 25c and 25d plus Schedule A, line 21 minus line 15;

Form 1041ME: Schedule A, line 4 plus line 19 minus lines 11). If zero or less, enter zero ................... 4. _____________________

2015 tax less other credits (line 3 minus line 4) .................................................................................... 5. _____________________

6. Subtract line 5 from line 2 and enter the difference here. If zero or less, enter zero .............................. 6. _____________________

Other 2016 credits (Form 1120ME: line 8c minus Schedule C, lines 1h and 1i;

Form 1040ME: lines 25c, 25d and 25e plus Schedule A, line 21 minus the super credit for

substantially increased research included in Schedule A, line 17; Form 1041ME: Schedule A, line 4

plus line 17 minus any amounts included in Schedule A line 11 related to the super credit for

substantially increased research). If zero or less, enter zero ............................................................... 7. _____________________

2016 tax less other credits (line 2 minus line 7). If zero or less, enter zero ......................................... 8. _____________________

Credit amount. Enter the lowest of line 1, line 6, line 8 or $100,000.

(Enter allowable credit on Form 1120ME, Schedule C, line 1i or Form

1040ME, Schedule A, line 17 or Form 1041ME, Schedule A, line 11) .................................................. 9. _____________________

This credit is repealed for tax years beginning on or after January 1, 2016 except that any unused credit amounts may be carried forward

for up to 5 taxable years.

The credit carryforward amount claimed is limited to the tax liability of the taxpayer and may not reduce the tax liability of the current year

to less than the tax liability of the previous year after all other credits except the high-technology credit. In addition, the credit carryforward

amount may not be used to reduce the tax liability of the taxpayer by more than $100,000 after the allowance of all other credits except

the super research credit carry forward amounts (36 M.R.S. § 5219-L).

Special rules apply to corporations ﬁ ling combined returns. 36 M.R.S. § 5219-M(6).

In the case of pass-through entities (such as partnerships, LLCs, S corporations and trusts), the partners, members, shareholders,

beneﬁ ciaries or other owners are allowed credits in proportion to their respective interests in these entities.

Rev. 10/16

High-Technology Investment Tax Credit Worksheet For Tax Year 2016 - Maine Revenue Services

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