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The document is a worksheet for claiming the New Markets Capital Investment Credit for tax year 2024 in Maine. It outlines eligibility requirements, including the necessity of holding a Maine New Markets Capital Investment Program Tax Credit Certificate issued by the Finance Authority of Maine (FAME) for investments made between 2018 and 2022. The credit allows holders to claim a total of 39% over seven years based on qualified equity investments, with specific instructions for calculating and claiming the credit, including provisions for pass-through entities and recapture conditions.

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Click ‘Get Form’ to open the New Markets Capital Investment Credit Worksheet in our editor.
Begin by entering your Taxpayer Name and EIN/SSN in the designated fields at the top of the form.
If applicable, provide details for any pass-through entities by entering their name, EIN/SSN, ownership percentage, and credit percentage.
Fill in the purchase price of qualified equity investments made during tax years 2018 to 2021 on line 1. Ensure you have supporting documentation ready.
Calculate and enter the credit amount for line 2 by multiplying the amount from line 1 by .08.
Repeat this process for line 3 (2022 investments) and line 4 (credit amount), ensuring accuracy in your calculations.
Complete lines 5 through 8 as instructed, ensuring all amounts are correctly totaled and reflect your claims accurately.

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