| | |
| 8. It limits the requirement to add back net operating losses | | that have been carried back to previous years for federal income | | tax purposes to tax years beginning before January 1, 2002, | | consistent with other recent changes in Maine's treatment of | | federal net operating loss deductions. |
|
| | | 9. It eliminates the provision allowing a negative | | modification amount attributable to subtraction of a state | | income tax refund to be carried back to prior years. The | | negative modification will still be available in carry-forward | | years. This change is consistent with statutory changes made | | in 2002 disallowing the use of federal net operating loss | | carry-backs. |
|
| | | 10. It modifies the standard for a qualified employee for | | purposes of the jobs and investment credit to reflect average | | annual wages rather than per capita income. Per capita income | | data by labor market area are not available. |
|
| | | 11. It makes it clear that the refundable portion of the | | credit for child care expenses must be prorated for persons | | who were not Maine residents for any part of the year. The | | changes conform to current agency practice. |
|
| | | 12. It eliminates the requirement to file a Maine income | | tax return for estates and trusts that had gross income less | | than $10,000 and no Maine taxable income. |
|
| | | 13. It modifies the standard for a qualified employee for | | purposes of the Maine Employment Tax Increment Financing Act | | to reflect average annual wages rather than per capita income. | | Per capita income data by county are not available. |
|
| | | 14. The bill makes grammatical changes. |
|
|
