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USA Statutes : maine
Title : Title 36. TAXATION
Chapter : Chapter 813. COMPUTATION OF TAXABLE INCOME OF NONRESIDENT TRUSTS AND ESTATES
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Title 36 - §5175. Maine taxable income of a nonresident estate or trust
Title 36: TAXATION
Part 8: INCOME TAXES
Chapter 813: COMPUTATION OF TAXABLE INCOME OF NONRESIDENT TRUSTS AND ESTATES
§5175. Maine taxable income of a nonresident estate or trust
1. General rules. For purposes of this chapter:
A. Items of income, gain, loss and deduction mean those derived from or connected with sources in this State;
[2003, c. 390, §37 (amd).]
B. Items of income, gain, loss and deduction entering into the definition of federal distributable net income include such
items from another estate or trust of which the first estate or trust is a beneficiary; and
[2003, c. 390, §37 (amd).]
C. The source of items of income, gain, loss or deduction must be determined under regulations prescribed by the assessor in
accordance with the general rules in section 5142 as if the estate or trust were a nonresident individual.
[2003, c. 390, §37 (amd).]
[2003, c. 390, §37 (amd).]
2. Determination of Maine taxable income. The Maine taxable income of a nonresident estate or trust is equal to its share of items of income, gain, loss and deduction
that enter into the federal definition of distributable net income increased or reduced by the amount of any items of income,
gain, loss or deduction that are recognized for federal income tax purposes but excluded from the federal definition of distributable
net income of the estate or trust less the amount of the deduction for its federal exemption.
A.
[2003, c. 390, §37 (rp).]
B.
[2003, c. 390, §37 (rp).]
C.
[2003, c. 390, §37 (rp).]
[2003, c. 390, §37 (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 - §5176. Share of a nonresident estate, trust or its beneficiaries in income from sources in this State
Title 36: TAXATION
Part 8: INCOME TAXES
Chapter 813: COMPUTATION OF TAXABLE INCOME OF NONRESIDENT TRUSTS AND ESTATES
§5176. Share of a nonresident estate, trust or its beneficiaries in income from sources in this State
1. General rule. The share of a nonresident estate or trust of items of income, gain, loss and deduction entering into the definition of distributable
net income and the share for purpose of section 5142 of a nonresident beneficiary of any estate or trust in estate or trust
income, gain, loss and deduction shall be determined as follows:
A. To the amount of items of income, gain, loss and deduction which enter into the definition of distributable net income there
shall be added or subtracted, as the case may be, the modifications described in section 5122 to the extent they relate to
items of income, gain, loss and deduction which also enter into the definition of distributable net income. No modification
shall be made under this section which has the effect of duplicating an item already reflected in the definition of distributable
net income.
[P&SL 1969, c. 154, Sec. F, §1 (new).]
B. The amount determined under the preceding paragraph shall be allocated among the estate or trust and its beneficiaries (including,
solely for the purpose of this allocation, resident beneficiaries) in proportion to their respective shares of federal distributable
net income. The amounts so allocated shall have the same character as for federal income tax purposes. Where an item entering
into the computation of such amounts is not characterized for federal income tax purposes, it shall have the same character
as if realized directly from the source from which realized by the estate or trust, or incurred in the same manner as incurred
by the estate or trust.
[P&SL 1969, c. 154, Sec. F, §1 (new).]
C. If the estate or trust has no federal distributable net income for the taxable year, the share of each beneficiary in the
net amount determined under subsection 1, paragraph A 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 such net amount shall be allocated to the estate or trust.
[P&SL 1969, c. 154, Sec. F, §1 (new).]
[P&SL 1969, c. 154, Sec. F, §l (new).]
2. Alternate methods. The assessor may authorize, upon the taxpayer's written request, the use of such other method or methods of determining
the respective shares of the beneficiaries and of the estate or trust in its income derived from sources in this State, and
in the modifications related to such other method or methods, as may be appropriate and equitable.
[1995, c. 639, §19 (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 - §5177. Credit to beneficiary for accumulation distribution (REPEALED)
Title 36: TAXATION
Part 8: INCOME TAXES
Chapter 813: COMPUTATION OF TAXABLE INCOME OF NONRESIDENT TRUSTS AND ESTATES
§5177. 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
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