Maine Worksheet PTE -- Credit Ratio Worksheet for Individuals Claiming the Pine Tree Development Zone Tax Credit

Worksheet PTE -- Credit Ratio Worksheet for Individuals Claiming the Pine Tree Development Zone Tax Credit
2023 PTDZ Worksheet PTE
Print

Clear

Pine Tree Development Zone Tax Credit
Worksheet PTE: Pass-Through Entity Credit Ratio
for Individuals, Estates, or Trusts for Tax Year 2023
Enclose with Form 1040ME or Form 1041ME.
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.
(Line 2 plus line 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. (Divide line 4 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. (Multiply line 6 by 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/pinetree-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.
Note: MRS may request additional information supporting the credit claimed before the return can be processed.
Revised: December 2023