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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 | | 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 | | this section 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 | | estate tax, all property values are as finally determined by the | | assessor in accordance with the Code as if the estate had incurred | | a federal estate tax. The share of the federal credit used to | | determine the amount of a nonresident individual's estate tax under | | this section is computed without regard to whether the specific | | real or tangible personal property located in the State is marital | | deduction property. |
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| | | Proceeds from the sale of property are taxable under this | section if those proceeds are included in the total | | estate and the sale was made in contemplation of death. A sale | | of property made within 6 months prior to the death of the | | grantor is deemed to be in contemplation of death within the | | meaning of this section. |
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| | | Sec. D-5. 36 MRSA §4066, as enacted by PL 1981, c. 451, §7, is | | amended to read: |
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| | | §4066. Discharge of personal representative's personal liability |
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| | | If the personal representative makes a written application, | | accompanied by a copy of the final determination of the federal | | estate tax liability, if any, and other supporting documentation | that the State Tax Assessor may require, to the State Tax | Assessor | discharge of personal liability for that tax, the State Tax | Assessor | | one year after the making of the application, or if the | | application is made before the return is filed, then within one | | year after the return is filed, shall notify the personal | | representative of the amount of the tax and of any interest on | that amount. The personal representative, on payment of the | amount of which he is notifiedshall be | personal liability for any deficiency in tax subsequently found, | after that,,shall bereceipt or | writing showing that |
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| | | Sec. D-6. 36 MRSA §4068, sub-§§2 and 3, as enacted by PL 1981, c. 451, | | §7, are amended to read: |
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