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Section 2011(b)(2); the period of limitations under the Code, | | Section 2011(c); and the termination provision contained in | | the Code, Section 2011(f). The adjusted taxable estate is to | | be determined using the applicable Code as of the date of the | | decedent's death, except that the state death tax deduction | | contained in the Code, Section 2058 is to be disregarded. The | | unified credit is to be determined under the Code, Section | | 2010 as of December 31, 2000; and |
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| | | Sec. D-2. 36 MRSA §4062, sub-§2, as enacted by PL 1981, c. 451, §7, is | | amended to read: |
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| | | 2. Federal gross estate. "Federal gross estate" means the | | gross estate of a decedent as determined for the purpose of the | federal estate tax under the laws of the United States |
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| | | Sec. D-3. 36 MRSA §4063, sub-§2, as amended by PL 2003, c. 20, Pt. JJ, | | §2, is further amended to read: |
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| | | 2. Values. All property values under subsection 1, paragraphs | | A and B are as finally determined for federal estate tax | | purposes, except that for estates of decedents dying after | December 31, 2002 and before January 1, 2005 | | federal estate tax, all property values under subsection 1, | | paragraphs A and B are as finally determined by the assessor in | | accordance with the Code as if the estate had incurred a federal | | estate tax. |
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| | | Sec. D-4. 36 MRSA §4064, as amended by PL 2003, c. 20, Pt. JJ, §3, | | is further amended to read: |
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| | | §4064. Tax on estate of nonresident |
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| | | A tax is imposed upon the transfer of real property and | | tangible personal property situated in this State and held by an | | individual who dies prior to January 1, 2002 or after December | | 31, 2002 and who at the time of death was not a resident of this | | State. When real or tangible personal property has been | | transferred into a trust, the tax imposed by this section applies | | as if the trust did not exist and the property was personally | | owned by the decedent. Maine property is subject to the tax | | imposed by this section to the extent that such property is | included in the decedent's federal gross estate as finally | determined for federal estate tax purposes | | tax is a sum equal to that proportion of the federal credit that | | the value of Maine real and tangible personal property taxed in | | this State that qualifies for the credit bears to the value of | the decedent's total | | under this section are as finally determined for federal estate |
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