Maine Forest Management Planning Income Credit (OBSOLETE)

Forest Management Planning Income Credit (OBSOLETE)
15_forest_mgt_cr.indd
Forest Management Planning Credit
Worksheet for Tax Year 2015
36 M.R.S. § 5219-C

TAXPAYER NAME: _____________________________________ SSN: ____________________
Once every ten years, an individual taxpayer is allowed a credit against the tax otherwise due for the lesser of $200 or the
individual’s cost for having a forest management and harvest plan developed by a licensed professional forester for a parcel
of forest land in Maine greater than ten acres. The licensed professional forester may not be in the regular employ of the
individual taxpayer. The credit may not reduce the tax otherwise due to less than zero. An individual claiming the credit must
attach a statement from the forester supporting the claim and swear that the credit has not been claimed by the individual
in the previous ten years. An individual claiming the credit who deducts the cost of the forest management and harvest plan
as an expense under the Code must increase federal adjusted gross income by the amount of that expense for purposes
of the Maine income tax.

To be completed by the licensed forester:
I hereby swear that I have developed a forest management and harvest plan for __________________________________
Name of Taxpayer

for a parcel of forest land in Maine greater than ten acres located at _________________________________________.
________________________________________________
Signature of Licensed Forester

___________________
Date plan prepared

________________________________________________
Name of Licensed Forester that developed the plan

___________________
Forester license number

$______________
Cost of plan

To be completed by the taxpayer claiming the credit:
1.

Enter the lesser of the cost of the professional forest management and harvest plan
paid during the tax year or $200. Enter the amount here and on Form 1040ME,
Schedule A, line 19 ......................................................................................................... 1. ___________________

Under the penalties of perjury, I declare that _____________________________ developed a forest management and
Name of Forester

harvest plan for a parcel of forest I own in Maine located at___________________________________ . I swear that I have
not claimed the credit for this parcel of land in the previous ten years.

________________________________________________
Signature of Land Owner - Taxpayer

___________________
Date

________________________________________________
Name of Land Owner - Taxpayer

Do not submit a copy of this form with your return but retain a copy in your tax records.

Rev. 12/15