| | |
claim attributable to a net operating loss carry-back must relate | | to a period for which net operating loss carry-backs are allowed. |
|
| | | 37. It replaces a requirement that the Bureau of Revenue | | Services provide a telefile application under the Maine Residents | | Property Tax Program with a more general requirement for an | | electronic filing option. The section also makes various | | grammatical changes. |
|
| | | 38. It consolidates 2 overlapping but inconsistent provisions | | enacted in 2004 that exclude gambling equipment from | | reimbursement under the BETR program. |
|
| | | 39. It corrects the name of the Bureau of Revenue Services in | | a statute providing for representation on the Multistate Tax | | Commission. |
|
| | | 40. It eliminates a requirement that the cost of outreach | | activities intended to encourage participation in the Maine | | Residents Property Tax Program must be paid from the amounts | | appropriated for the program. There is no longer a specific | | appropriation for the Maine Residents Property Tax Program. |
|
| | | 41. It clarifies the definition of "nonprofit" in the sales | | tax law. |
|
| | | 42. It corrects a typographical error in the estate tax law. |
|
| | | 43. Current law governing estate tax provides for a tax on | | nonresident estates based on a state credit amount calculated on | | the entire estate, multiplied by a percentage. The percentage is | | equal to the ratio between tangible property located in the State | | and the entire value of the estate. This bill clarifies the | | language that describes this ratio. |
|
| | | 44. Current law governing estate tax provides for an estate | | tax based on federal state death tax credit and exclusion amounts | | in effect before passage of the federal Economic Growth Tax | | Relief Reconciliation Act of 2001. This bill clarifies that a | | Maine estate tax return is required to be filed whenever the | | federal gross estate, increased by the amount of adjusted taxable | | gifts, exceeds the exclusion amount in effect prior to enactment | | of that federal law. |
|
| | | 45. It clarifies the pension exclusion in the State's | | individual income tax law. |
|
| | | 46. Public Law 2005, chapter 2, Part E, section 3 enacted | | January 21, 2005 permanently extends the deadline for filing an | | application for the Maine Residents Property Tax Program from |
|
|
