Sec. 10. 36 MRSA §5126, as amended by PL 2001, c. 583, §16, is repealed.

Sec. 11. 36 MRSA §5160, as amended by PL 2003, c. 390, §35, is further amended to read:

§5160. Imposition of tax

The tax is imposed, at the rates provided by section 5111 5111-C for single individuals, upon the Maine taxable income of estates and trusts. The tax must be paid by the fiduciary.

Sec. 12. 36 MRSA §5203-C, sub-§1, ¶¶F, G and H, as enacted by PL 2003, c. 673, Pt. JJ, §3 and affected by §6, are amended to read:

F. "Regular income tax" means:

(1) For resident individuals, estates and trusts, the amount derived by multiplying the applicable tax rate or rates by taxable income under section 5121 or 5163;

(2) For nonresident individuals, estates and trusts, the amount derived by multiplying the applicable tax rate or rates by taxable income under section 5121 or 5175, the result of which is adjusted for nonresident individuals in accordance with section 5111 5111-C, subsection 4 2; or

(3) For taxable corporations, the amount derived by multiplying the applicable tax rate or rates against Maine net income under section 5102, subsection 8.

G. "Tentative alternative minimum taxable income" means federal alternative minimum taxable income:

(1) Reduced by income that states are prohibited under federal law from subjecting to income tax to the extent included in federal alternative minimum taxable income;

(2) Reduced by income, loss or deductions by which the State decreases federal adjusted gross income in the case of individuals or federal taxable income in the case of corporations, estates and trusts under section 5122, section 5125, subsection 3 or section 5164, 5176 or 5200-A or as otherwise indicated by law to the