PART D - CREDIT FOR AQUACULTURE OYSTER FLOATS
A credit is allowed for 100% of the amounts paid to purchase new aquaculture oyster floats that are designed to grow oysters at or under an individual homeowner’s pier. The devices must be buoyant and assist in the growth of oysters for the width of the pier. In the case of a joint return, each spouse is entitled to claim the credit, provided each spouse purchases or contributes to the purchase of a float. The credit amount is limited to the lesser of the individual’s state tax liability for that year or the maximum allowable credit of $500. In the case of a joint return, each spouse must calculate his/her own state tax liability for limitation purposes.