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USA Statutes : maine
Title : Title 36. TAXATION
Chapter : Chapter 811. COMPUTATION OF TAXABLE INCOME OF RESIDENT ESTATES AND TRUSTS
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Title 36 - §5163. Maine taxable income of resident estate or trust
Title 36: TAXATION
Part 8: INCOME TAXES
Chapter 811: COMPUTATION OF TAXABLE INCOME OF RESIDENT ESTATES AND TRUSTS
§5163. Maine taxable income of resident estate or trust
The Maine taxable income of a resident estate or trust is equal to its federal taxable income modified by the addition or
subtraction of its share of the fiduciary adjustment determined under section 5164.
[2003, c. 390, §36 (amd).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 36 - §5164. Fiduciary adjustment
Title 36: TAXATION
Part 8: INCOME TAXES
Chapter 811: COMPUTATION OF TAXABLE INCOME OF RESIDENT ESTATES AND TRUSTS
§5164. Fiduciary adjustment
1. Fiduciary adjustment defined. The fiduciary adjustment is the net amount of the modifications described in section 5122, including subsection 3 if the
estate or trust is a beneficiary of another estate or trust, which relates to items of income or deduction of an estate or
trust. Income taxes imposed by this State or any other taxing jurisdiction and interest or expenses incurred in the production
of income exempt from tax under this Part deducted in arriving at federal taxable income must be added back to the fiduciary
adjustment. Interest or expenses incurred in the production of income taxable under this Part but exempt from federal income
tax must be subtracted from the fiduciary adjustment.
[1999, c. 708, §38 (amd).]
2. Shares of fiduciary adjustment. The respective shares of an estate or trust and its beneficiaries, including solely for the purpose of this allocation, nonresident
beneficiaries, in the fiduciary adjustment shall be in proportion to their respective shares of federal distributable net
income of the estate or trust. If the estate or trust has no federal distributable net income for the taxable year, the share
of each beneficiary in the fiduciary adjustment shall be in proportion to his share of the estate or trust income for such
year, under local law or the terms of the instrument, which is required to be distributed currently and any other amounts
of such income distributed in such year. Any balance of the fiduciary adjustment shall be allocated to to the estate or trust.
[P&SL 1969, c. 154, Sec. F, §1 (new).]
3. Alternate attribution of adjustment. The assessor may authorize, upon the taxpayer's written request, the use of other methods of determining to whom the items
comprising the fiduciary adjustment are attributed, as may be appropriate and equitable.
[1995, c. 639, §18 (amd).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 36 - §5165. Credit for income tax of another state
Title 36: TAXATION
Part 8: INCOME TAXES
Chapter 811: COMPUTATION OF TAXABLE INCOME OF RESIDENT ESTATES AND TRUSTS
§5165. Credit for income tax of another state
A resident estate or trust shall be allowed the credit provided by section 5217-A, except that the limitation shall be computed
by reference to the taxable income of the estate or trust.
[1989, c. 596, Pt. J, §4 (amd).]
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 36 - §5166. Credit to beneficiary for accumulation distribution (REPEALED)
Title 36: TAXATION
Part 8: INCOME TAXES
Chapter 811: COMPUTATION OF TAXABLE INCOME OF RESIDENT ESTATES AND TRUSTS
§5166. Credit to beneficiary for accumulation distribution (REPEALED)
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
Title 36 - §5167. Credit for investment in The Maine Capital Corporation (REPEALED)
Title 36: TAXATION
Part 8: INCOME TAXES
Chapter 811: COMPUTATION OF TAXABLE INCOME OF RESIDENT ESTATES AND TRUSTS
§5167. Credit for investment in The Maine Capital Corporation (REPEALED)
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.
Office of the Revisor of Statutes
7 State House Station
State House Room 108
Augusta, Maine 04333-0007
This page created on: 2005-10-01
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