Screen MECr - Maine Credits (1120)

Nonrefundable Tax Credits

Use this section to enter credit information on Form 1120ME, Page 5, Schedule C or Schedule K Summary Worksheet. For C Corporations, The total tax credits on Form 1120ME, Page 2 is automatically limited to the lesser of the tax credits or Maine tax liability. For S Corporations, this amount automatically transfers to the Maine Schedule K Summary Worksheet. This amount is also distributed among the shareholders and transfers to the Maine Shareholder’s Share of Income, Modifications and Credits Worksheet.
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