Form 80-315 "Reforestation Tax Credit" - Mississippi

What Is Form 80-315?

This is a legal form that was released by the Mississippi Department of Revenue - a government authority operating within Mississippi. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on August 1, 2018;
  • The latest edition provided by the Mississippi Department of Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form 80-315 by clicking the link below or browse more documents and templates provided by the Mississippi Department of Revenue.

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Download Form 80-315 "Reforestation Tax Credit" - Mississippi

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Form 80-315-18-8-1-000 (Rev. 08/18)
Mississippi
Print Form
Reforestation Tax Credit
2018
SSN
FEIN
Taxpayer Name
PART I: COMPUTATION OF REFORESTATION TAX CREDIT (RTC)
1
Total expenditures during the year 2018 for seedlings, seed/acorns, seeding, planting by hand or machine,
.
site preparation and post-planting site preparation on all eligible acres
1
00
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
00
.
3
Eligible costs (enter lesser of line 1 or line 2)
3
00
.
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
00
.
5b Enter the current year RTC passed through to you as an investor in a pass-through entity (see K-1 forms)
5b
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
6
00
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
00
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
00
.
9
Net income tax due (line 7 minus line 8)
9
00
.
10 Reforestation tax credit (enter LESSER of line 6 or line 9 here and Form 80-401 or 83-401)
10
00
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
00
.
12 Amount of RTC utilized this year (amount from line 10 above)
12
00
.
13 Amount of RTC available to be carried forward and used in succeeding tax years (line 11 minus line 12)
13
00
PART IV: COMPUTATION OF ACCUMULATED REFORESTATION TAX CREDIT LIFETIME CREDIT UTILIZIED
.
7 5, 0 0 0
14 LIFETIME REFORESTATION TAX CREDIT ALLOWANCE
14
00
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
00
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)
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
,
a graduate forester of a college, school or university accredited by the Society
of American Foresters or
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
Title
Date
Business Address
Identifying Number
Reset Form
Form 80-315-18-8-1-000 (Rev. 08/18)
Mississippi
Print Form
Reforestation Tax Credit
2018
SSN
FEIN
Taxpayer Name
PART I: COMPUTATION OF REFORESTATION TAX CREDIT (RTC)
1
Total expenditures during the year 2018 for seedlings, seed/acorns, seeding, planting by hand or machine,
.
site preparation and post-planting site preparation on all eligible acres
1
00
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
00
.
3
Eligible costs (enter lesser of line 1 or line 2)
3
00
.
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
00
.
5b Enter the current year RTC passed through to you as an investor in a pass-through entity (see K-1 forms)
5b
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
6
00
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
00
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
00
.
9
Net income tax due (line 7 minus line 8)
9
00
.
10 Reforestation tax credit (enter LESSER of line 6 or line 9 here and Form 80-401 or 83-401)
10
00
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
00
.
12 Amount of RTC utilized this year (amount from line 10 above)
12
00
.
13 Amount of RTC available to be carried forward and used in succeeding tax years (line 11 minus line 12)
13
00
PART IV: COMPUTATION OF ACCUMULATED REFORESTATION TAX CREDIT LIFETIME CREDIT UTILIZIED
.
7 5, 0 0 0
14 LIFETIME REFORESTATION TAX CREDIT ALLOWANCE
14
00
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
00
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)
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
,
a graduate forester of a college, school or university accredited by the Society
of American Foresters or
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
Title
Date
Business Address
Identifying Number
Form 80-315-18-8-2-000 (Rev. 08/18)
Mississippi
Reforestation Tax Credit
Page 2
Cost Worksheet
SSN
FEIN
2018
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 C
Column A
Column B
EXTENDED COST
COST SUMMARY PER ACRE
NUMBER OF ACRES
(Col. A x Col. B)
Tree Planting (1)
Pine
Seedlings / Bare Root
49.00
.00
Labor
54.00
.00
Containerized Longleaf
Seedlings
85.00
.00
Labor
78.00
.00
Containerized Loblolly or Slash
Seedlings
67.00
.00
Labor
57.00
.00
Hardwood
Seedlings
85.00
.00
Labor
86.00
.00
Mixed Stand Regeneration
Seedlings
37.00
.00
Labor
33.00
.00
Site-Preparation
125.00
.00
Natural Regeneration
Site-Preparation
100.00
.00
II. Site-Preparation
Chemical
84.00
.00
Mechanical
190.00
.00
Bush Hog
35.00
.00
Post Planting Site-Preparation (2)
70.00
.00
Sub-Soil
37.00
.00
Site-Preparation Burn
38.00
.00
TOTAL (Enter the total of Column C here and on page 1, Part I, line 2)
.00
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
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