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Mississippi Re-forestation Tax Credit
Extracted from PDF file 2023-mississippi-form-80-315.pdf, last modified October 2023Re-forestation Tax Credit
Reset Form Form 80-315-23-8-1-000 (Rev. 11/23) Mississippi Print Form Reforestation Tax Credit 2023 SSN FEIN Taxpayer Name PART I: COMPUTATION OF REFORESTATION TAX CREDIT (RTC) 1 Total expenditures during the year 2023 for seedlings, seed/acorns, seeding, planting by hand or machine, site preparation and post-planting site preparation on all eligible acres 1 2 Total cost of approved practices as established by the Mississippi Forestry Commission (complete the worksheet on the reverse side of this form and enter the total from column C here) 2 3 Eligible costs (enter lesser of line 1 or line 2) 3 4 Enter 50% of amount in line 3 above or $10,000 whichever is less; this is your RTC earned this year 4 .00 5a Enter the amount of RTC carried over from earlier years (attach Form 80-315 for immediate prior year) 5a 5b Enter the current year RTC passed through to you as an investor in a pass-through entity (see K-1 forms) 5b .00 .00 .00 .00 .00 6 .00 6 Total Amount of RTC available to be utilized this year (pass-through entities only; add line 4, line 5a and line 5b; do not enter an amount larger than amount on line 16, Part IV below; enter the amount on Form 84-401 and skip Part II and Part III below) Was either of the following elected on your Federal income tax return with respect to the qualifying expenditures on the same eligible lands on which the RTC is claimed: Investment tax credit Yes No Reforestation amortization Yes No PART II: REFORESTATION TAX CREDIT UTILIZED THIS YEAR (NOTE: When married taxpayers file jointly and each spouse qualifies as an eligible owner, see instructions for completion of lines 7 and 8) 7 Enter the amount of total income tax due shown on line 17, Form 80-105 and line 20, Form 80-205 (individuals); line 6, Form 83-105 (corporations) or line 2, Form 81-110 (fiduciary return) 7 8 Enter the total amount of all other credit(s) available to you this year (refer to the instructions for the return you are filing for a list of available credits); do not include withholding or estimated tax payments 8 9 Net income tax due (line 7 minus line 8) 9 10 Reforestation tax credit (enter LESSER of line 6 or line 9 here and Form 80-401 or 83-401) .00 .00 .00 .00 10 PART III: COMPUTATION OF REFORESTATION TAX CREDIT CARRYOVER AMOUNT 11 Total reforestation tax credit available to be utilized this year (amount from line 6 above) 11 12 Amount of RTC utilized this year (amount from line 10 above) 12 13 Amount of RTC available to be carried forward and used in succeeding tax years (line 11 minus line 12) 13 .00 .00 .00 PART IV: COMPUTATION OF ACCUMULATED REFORESTATION TAX CREDIT LIFETIME CREDIT UTILIZIED 7 5, 0 0 0 .00 14 LIFETIME REFORESTATION TAX CREDIT ALLOWANCE 14 15 Total RTC utilized in prior years to offset income tax due (total of amounts shown on Line 12, Part III, Form 80-315) for all prior years; pass-through entities enter total RTC passed through to investors in ALL prior years 15 16 Balance of lifetime RTC allowance available to be used (line 14 minus line 15; for pass-through entities, this is the balance of your lifetime RTC allowance which is available to be passed through to investors) .00 16 .00 PART V: CERTIFICATION OF FORESTER In accordance with Miss. Code Ann. Section 27-7-22.15, I certify that a reforestation prescription or plan as indicated above for eligible lands owned by , of American Foresters or a graduate forester of a college, school or university accredited by the Society a registered forester under the Foresters Registration Law of 1977; and that the reforestation practices below have been completed and that the reforestation prescription or plan was followed. Site preparation Cost of seedlings and/or seed/acorns Planting by hand or machine and/or seeding Post-planting site preparation practices Signature Business Address Title Date Identifying Number Form 80-315-23-8-2-000 (Rev. 11/23) Mississippi Reforestation Tax Credit Cost Worksheet SSN 2023 Page 2 FEIN Please enter the name and/or county code for the county, or counties, in which the activities listed below were performed. The county codes are shown in the table included in your income tax instruction booklet. County: Code Code Code I. Regeneration Column A COST SUMMARY PER ACRE Column B NUMBER OF ACRES Column C EXTENDED COST (Col. A x Col. B) Tree Planting (1) Pine Seedlings / Bare Root 57.00 .00 Labor 65.00 .00 Seedlings 90.00 .00 Labor 98.00 .00 Seedlings 70.00 .00 Labor 75.00 .00 Seedlings 115.00 .00 Labor 139.00 .00 Seedlings 37.00 .00 Labor 33.00 .00 125.00 .00 100.00 .00 Chemical 100.00 .00 Mechanical 190.00 .00 Bush Hog 45.00 .00 Post Planting Site-Preparation (2) 80.00 .00 Sub-Soil 45.00 .00 Site-Preparation Burn 38.00 .00 Containerized Longleaf Containerized Loblolly or Slash Hardwood Mixed Stand Regeneration Site-Preparation Natural Regeneration Site-Preparation II. Site-Preparation TOTAL (Enter the total of Column C here and on page 1, Part I, line 2) Footnotes: (1) Includes cost of seedlings and planting by hand or machine (2) Reduction and control of undesirable competition within the first growing season of an established crop of trees NOTICE: A copy of the above worksheet MUST be furnished to: Mississippi Forestry Commission 660 North St. Suite 300, Jackson, MS 39202 .00
80315238
More about the Mississippi Form 80-315 Individual Income Tax Tax Credit TY 2023
We last updated the Re-forestation Tax Credit in February 2024, so this is the latest version of Form 80-315, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 80-315 directly from TaxFormFinder. You can print other Mississippi tax forms here.
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TaxFormFinder has an additional 36 Mississippi income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Mississippi Form 80-315.
| Form Code | Form Name |
|---|---|
| Form 80-315i | Re-forestation Tax Credit Instructions |
View all 37 Mississippi Income Tax Forms
Form Sources:
Mississippi usually releases forms for the current tax year between January and April. We last updated Mississippi Form 80-315 from the Department of Revenue in February 2024.
Form 80-315 is a Mississippi Individual Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Mississippi Form 80-315
We have a total of twelve past-year versions of Form 80-315 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2014 Form 80-315
JetForm:80315118.IFD
2012 Form 80-315
JetForm:80315118.IFD
2011 Form 80-315
JetForm:80315118.IFD
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