LD 1305
pg. 7
Page 6 of 9 An Act To Encourage Long-term Holding of Maine Timberland and Sustainable Fores... Page 8 of 9
Download Bill Text
LR 1758
Item 1
 
(2)__The taxable income of the taxpayer under the laws of
the United States must be decreased by:

 
(a) For eligible timberlands held by the taxpayer
for at least a 10-year period__beginning on or
after January 1, 2005 but less than an 11-year
period beginning on or after January 1, 2005, 10%
of the gain recognized on the sale of the eligible
timberlands;

 
(b) For eligible timberlands held by the taxpayer
for at least an 11-year period__beginning on or
after January 1, 2005 but less than a 12-year
period beginning on or after January 1, 2005, 20%
of the gain recognized on the sale of the eligible
timberlands;

 
(c)__For eligible timberlands held by the taxpayer
for at least a 12-year period__beginning on or
after January 1, 2005 but less than a 13-year
period beginning on or after January 1, 2005, 30%
of the gain recognized on the sale of the eligible
timberlands;

 
(d)__For eligible timberlands held by the taxpayer
for at least a 13-year period__beginning on or
after January 1, 2005 but less than a 14-year
period beginning on or after January 1, 2005, 40%
of the gain recognized on the sale of the eligible
timberlands;

 
(e)__For eligible timberlands held by the taxpayer
for at least a 14-year period__beginning on or
after January 1, 2005 but less than a 15-year
period beginning on or after January 1, 2005, 50%
of the gain recognized on the sale of the eligible
timberlands;

 
(f)__For eligible timberlands held by the taxpayer
for at least a 15-year period__beginning on or
after January 1, 2005 but less than a 16-year
period beginning on or after January 1, 2005, 60%
of the gain recognized on the sale of the eligible
timberlands;

 
(g)__For eligible timberlands held by the taxpayer for at least a
16-year period__beginning on or after January 1, 2005 but less
than a 17-year period beginning on or after January 1, 2005, 70%

Page 6 of 9 Top of Page Page 8 of 9
Additional Information
Amendments Public Hearings Committee Information
Other Documents Work Sessions Title & Section
Related Pages
Status for LD 1305 Search Bill Text Session Information
Bill Directory Search
Bill
Status		 Legislative Information
Download RTF (MS-Word) Maine Legislature
Office of Legislative Information
100 State House Station
Augusta, ME 04333		 voice: (207) 287-1692
fax: (207) 287-1580
tty: (207) 287-6826
Word Viewer for Windows Disclaimer