PUBLIC Law Chapter 622

State. When real or tangible personal property has been transferred

into a trust or a limited liability company or other pass-through

entity, the tax imposed by this section applies as if the trust or

limited liability company or other pass-through entity 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. The amount of this tax is ~~a sum~~ equal to that

proportion of the federal credit that the value of the decedent's

Maine real and tangible personal property in this State bears to

the value of the decedent's federal gross estate. ~~All property~~

~~values under this section are as finally determined for federal~~

~~estate tax purposes, except that for estates of decedents dying~~

~~after December 31, 2002 that do not incur a federal 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.

Sec. 21. 36 MRSA §4064-A, sub-§1, as enacted by PL 2001, c. 559, Pt.
GG, §7 and affected by §26, is amended to read:

1. Amount. 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 during the calendar year 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 gross estate as finally determined for federal estate
tax purposes. The amount of this tax is equal to the lesser of:

A. That proportion of the federal estate tax calculated
prior to the application 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 federal gross estate; and

B. That proportion of the federal credit divided by .75
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 federal gross estate.

~~All values are as finally determined for federal estate tax~~
~~purposes.~~ The share of the federal credit used to determine the

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