Maine High-Technology Investment Tax Credit

High-Technology Investment Tax Credit
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High-Technology Investment Tax Credit
Worsheet for Tax Year 2020
Credit Carryforward Amounts

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36 M.R.S. § 5219-M
Taxpayer Name: _______________________________________ EIN/SSN:

________________

Note: In the case of pass-through entities (such as partnerships, LLCs, S corporations, and trusts) making eligible investments,
the partners, members, shareholders, beneficiaries, or other owners are allowed a credit in proportion to their respective
interests in these entities. 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.

Name of Pass-through Entity

EIN/SSN

_______________________________________________

_______________________

Ownership
Percentage

____________ %

1.

Carryforward from previous years. Enclose an explanation or schedule to verify the amount
entered on this line. See instructions below. ......................................................................................... 1. _____________________

2.

2020 tax (Form 1120ME, line 6c; Form 1040ME, line 22; or Form 1041ME,
Schedule A, line 17) .............................................................................................................................. 2. _____________________

3.

2019 tax (Form 1120ME, line 7c; Form 1040ME, line 22; or Form 1041ME,
Schedule A, line 17) .............................................................................................................................. 3. _____________________

4.

Other 2019 credits (Form 1120ME: line 8c minus Schedule C, line 1i;
Form 1040ME: lines 25c, 25d and 25e plus Schedule A, line 23 minus the high-technology
credit carryforward included in line 17; Form 1041ME: Schedule A, line 4 plus line 18 minus
the high-technology credit carryforward included in line 11). If zero or less, enter zero........................ 4. _____________________

5.

2019 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. _____________________

7.

Other 2020 credits (Form 1120ME: line 7c minus Schedule C, line 1h;
Form 1040ME: lines 25c, 25d and 25e plus Schedule A, line 23 minus the super credit for
substantially increased research included in Schedule A, line 17; Form 1041ME: Schedule A, line 4
plus line 18 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. _____________________

8.

2020 tax less other credits (line 2 minus line 7). If zero or less, enter zero .......................................... 8. _____________________

9.

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; 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 filing 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,
beneficiaries, or other owners are allowed credits in proportion to their respective interests in these entities.

Revised: December 2020