USA Statutes : maine
Title : Title 36. TAXATION
Chapter : Chapter 357. INSURANCE COMPANIES
Title 36 - §2511. Companies taxable; rate (REPEALED)
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2511. Companies taxable; rate (REPEALED)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 - §2512. Annual returns to Superintendent of Insurance
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2512. Annual returns to Superintendent of Insurance
Every domestic life insurance company shall include in its annual return to the Superintendent of Insurance a statement of
the amount of premiums and annuity considerations liable to taxation as provided in section 2513, and of the real estate held
by it on the 31st day of the previous December, showing in detail the amount of all premiums including annuity considerations
whether in cash or notes absolutely payable, received by the company from residents of this State during the preceding calendar
year and all dividends paid to policyholders in this State on account of the premiums or annuity considerations as required
by blanks furnished by the superintendent. The taxes provided by section 2513 shall be paid as provided in section 2521-A,
and this section and section 2518 shall be applicable thereto.
[1985, c. 783, § 10 (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 - §2513-A. Tax on premiums of risk retention groups
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2513-A. Tax on premiums of risk retention groups
Each risk retention group, as defined in Title 24-A, section 6093, shall be liable for payment of premium taxes with respect
to direct business for risks resident or located within this State at the same rate and subject to the same interest, fines
and penalties for nonpayment as that applicable to authorized insurers. Each risk retention group shall file an annual report,
on or before March 1st, with the Superintendent of Insurance and the Treasurer of State containing a sworn statement of the
gross premiums charged for coverage placed, and the gross return premiums on the insurance canceled, during the year ending
on the preceding December 31st. At the time of filing the report, each risk retention group shall pay to the Treasurer of
State the applicable percentage of the difference between the gross and return premiums reported for the business transacted
during the year.
[1987, c. 481, § 4 (new).]
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 - §2513-B. Tax on premiums collected by captive insurers; rate of tax
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2513-B. Tax on premiums collected by captive insurers; rate of tax
1. Generally. A captive insurance company shall pay to the State Tax Assessor a tax at a rate of .375 of 1% on the first $20,000,000,
.30 of 1% on the next $20,000,000, .20 of 1% on the next $20,000,000 and .075 of 1% of each $1 thereafter on the direct premiums
collected or contracted for on policies or contracts of insurance written by the captive insurance company during the year
ending December 31st next preceding.
[1997, c. 435, §2 (new).]
2. Reinsurance. A captive insurance company shall pay to the State Tax Assessor a tax at the rate of .225 of 1% on the first $20,000,000
of assumed reinsurance premium, .150 of 1% on the next $20,000,000, .050 of 1% on the next $20,000,000 and .025 of 1% of each
$1 thereafter. However, no reinsurance tax applies to premiums for risks or portions of risks that are subject to taxation
on a direct basis pursuant to subsection 1. No reinsurance premium tax is payable in connection with the receipt of assets
in exchange for the assumption of loss reserves and other liabilities of another insurer under common ownership and control
if that transaction is part of a plan to discontinue the operations of another insurer and if part of the intent of the parties
to that transaction is to renew or maintain that business with the captive insurance company.
[1997, c. 583, §6 (amd).]
3. Maine corporations. When a corporation whose corporate domicile is located in this State forms a captive insurance company, that captive insurance
company shall pay a tax at the rate of 2% on the direct premiums collected or contracted for on policies or contracts of insurance
written by the captive insurance company during the year ending December 31st next preceding.
[1997, c. 435, §2 (new).]
4. Alternative minimum tax. If the aggregate taxes to be paid by a captive insurance company calculated under subsections 1 and 2 amount to less than
$4,000 in any year, that captive insurance company shall pay a tax of $4,000 for that year.
[1997, c. 435, §2 (new).]
5. Common ownership. Two or more captive insurance companies under common ownership and control are taxed as though they were a single captive
insurance company. For purposes of this subsection, "common ownership and control" means:
A. In the case of stock corporations, the direct or indirect ownership of 80% or more of the outstanding voting stock of 2
or more corporations by the same shareholder or shareholders; and
[1997, c. 435, §2 (new).]
B. In the case of mutual corporations, the direct or indirect ownership of 80% or more of the surplus and the voting power
of 2 or more corporations by the same member or members.
[1997, c. 435, §2 (new).]
[1997, c. 435, §2 (new).]
6. Premium tax in lieu of other taxes. Payment by a captive insurance company of the tax imposed by this section is in lieu of all taxes imposed by this Title
upon the captive insurance company or upon any subsidiary of that captive insurance company, upon premiums or upon income
and in lieu of any franchise, privilege or other taxes measured by income of the captive insurance company or subsidiary.
[1997, c. 435, §2 (new).]
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 - §2513. Tax on premiums and annuity considerations
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2513. Tax on premiums and annuity considerations
Every insurance company or association that does business or collects premiums or assessments including annuity considerations
in the State, including surety companies and companies engaged in the business of credit insurance or title insurance, shall,
for the privilege of doing business in this State, and in addition to any other taxes imposed for such privilege pay a tax
upon all gross direct premiums including annuity considerations, whether in cash or otherwise, on contracts written on risks
located or resident in the State for insurance of life, annuity, fire, casualty and other risks at the rate of 2% a year.
Every surplus lines insurer that does business or collects premiums in the State shall, for the privilege of doing business
in this State, and in addition to any other taxes imposed for such privilege, pay a tax upon all gross direct premiums, whether
in cash or otherwise, on contracts written on risks located or resident in the State at the rate of 3% a year. The tax must
be paid by the insurer's licensed producer with surplus lines authority pursuant to Title 24-A, section 2016. For purposes
of this section, the term "annuity considerations" includes amounts paid to an insurance company when received for the purchase
of a contract that may result in an annuity, even when the annuitization never occurs or does not occur until some time in
the future and the amounts are in the meantime applied to an investment vehicle other than an annuity. This section does
not apply to mutual fire insurance companies under section 2517 or to captive insurance companies incorporated under the laws
of another state.
[2005, c. 218, §30 (amd).]
div>
Notwithstanding this section, annuity considerations received in tax years ending prior to January 1, 1999 upon which no tax
was paid in the year received must be taxed in the year in which an annuity is actually purchased.
[2003, c. 20, Pt. CC, §1 (new); §3 (aff).]
div>
Notwithstanding this section, for income tax years commencing on or after January 1, 1989, the tax imposed by this section
upon all gross direct premiums collected or contracted for on long-term care policies, as certified by the superintendent
pursuant to Title 24-A, section 5054, must be at the rate of 1% a year.
[2003, c. 20, Pt. CC, §1 (amd); §3 (aff).]
div>
Notwithstanding this section, for tax years commencing on or after January 1, 1997, the tax imposed by this section with respect
to premiums on qualified group disability policies written by every insurer, except a large domestic insurer, must be at the
rate of 1% and must be at the rate of 2.55% with respect to those premiums written by every large domestic insurer. For the
purposes of this section, the term "qualified group disability policies" is limited to group health insurance policies properly
reported as such in the insurer's annual statement and whose sole coverage is the full or partial replacement of an individual's
income in the event of disability. Policies that contain coverages in addition to replacement of income coverage are considered
to solely provide that coverage as long as the premium related to the additional coverages is not more than 10% of the total
premium charged. The term "qualified group disability policies" does not include workers' compensation insurance policies,
policies that include coverages that are collectively renewable, policies that provide for credit disability insurance or
policies that pay benefits only upon the occurrence of hospitalization. For purposes of this section, a "large domestic insurer"
is any insurer domiciled in this State with assets in excess of $5,000,000,000 as reported on its annual statement.
[1997, c. 496, §1 (new).]
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 - §2514. Applicability of provisions
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2514. Applicability of provisions
Sections 2512 and 2513 shall not apply to the taxation of any annuity consideration on any annuity contract issued prior to
August 1, 1943. Sections 2512 and 2513 shall not apply to any premium from an insurance contract, which premium is received
prior to October 1, 1969, or any consideration, regardless of when received, from any retirement annuity contracts issued
by an insurance or annuity company organized and operated without profit to any private shareholder or individual exclusively
for the purpose of aiding nonproprietary educational and scientific institutions pursuant to a retirement program established
under the United States Internal Revenue Code, Section 403 (b). Premiums or considerations received from life insurance policies
or annuity contracts issued in connection with the funding of a deferred compensation plan described under the United States
Internal Revenue Code, Section 457, a pension, annuity or profit-sharing plan or individual retirement account or annuity
qualified or exempt under the United States Internal Revenue Code, Section 401, 403, 404, 408 or 501, as now or hereafter
amended or renumbered from time to time, shall be exempt from tax.
[1987, c. 343, § 7 (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 - §2515. Amount of tax
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2515. Amount of tax
In determining the amount of tax due under section 2513 or 2513-B, each company shall deduct from the full amount of gross
direct premiums the amount of all direct return premiums on the gross direct premiums and all dividends paid to policyholders
on direct premiums, and the tax must be computed by those companies or their agents. Except when direct return premiums are
returned in the same tax year that the premium was paid, the deduction allowed in this section may be taken only if the tax
under this Part has been paid.
[2003, c. 20, Pt. CC, §2 (amd); §3 (aff).]
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 - §2516. Returns to State Tax Assessor (REPEALED)
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2516. Returns to State Tax Assessor (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 - §2517. Mutual fire companies doing mill business; returns
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2517. Mutual fire companies doing mill business; returns
Mutual fire insurance companies incorporated under the laws of other states, which insure only factories or mills, or property
connected with such factories or mills, admitted to do business in this State, shall comply with all the requirements of law
except that in lieu of all other taxation upon premiums in this State, such companies shall pay a tax at the rate of 2% on
gross premiums in force on risks in this State, after deducting the unabsorbed portion of such premium, computed at the rate
of return actually made on annual policies expiring during the year by said insurance companies.
[1973, c. 727, § 7 (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 - §2518. Neglect to make return; assessment; failure to pay
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2518. Neglect to make return; assessment; failure to pay
If any insurance company, captive insurance company or association fails to pay on demand a tax assessed under section 141,
subsection 2, paragraph C, the State Tax Assessor shall certify that failure to the Superintendent of Insurance who shall
give notice to the company or association that it may not do any more business in the State. Whoever, after such notice, does
business for such company or association is guilty of a Class E crime.
[1997, c. 435, §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 - §2519. Ratio of tax on foreign insurance companies
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2519. Ratio of tax on foreign insurance companies
Any insurance company incorporated by a state of the United States or province of the Dominion of Canada whose laws impose
upon insurance companies chartered by this State any greater tax than is herein provided shall pay the same tax upon business
done by it in this State, in place of the tax provided in any other section of this Title. If it is not paid as provided in
section 2521-A, the Superintendent of Insurance shall suspend the right of said company to do business in this State. Any
insurance company incorporated by another country shall be regarded for the purpose of this section as though incorporated
by the state where it has elected to make its deposit and establish its principal agency in the United States.
[1973, c. 727, § 9 (rpr).]
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 - §2520. Reciprocal contracts of indemnity
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2520. Reciprocal contracts of indemnity
Every attorney-in-fact of a reciprocal insurer by or through whom are issued policies or contracts of indemnity by a reciprocal
insurer as identified in Title 24-A, chapter 5, in lieu of all other taxation, state, county or municipal, in this State,
shall pay a tax at the rate of 2% on gross premiums or deposits actually received during the year after deducting amounts
actually returned to policyholders as the unused part of such premium or deposit, or such part as may be credited on the renewal
or extension of the indemnity.
[1973, c. 727, § 10 (rpr).]
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 - §2521-A. Returns; payment of tax
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2521-A. Returns; payment of tax
Every insurance company, captive insurance company, association, producer or attorney-in-fact of a reciprocal insurer subject
to tax as imposed by this chapter shall on or before the last day of each April, the 25th day of each June and the last day
of each October file with the State Tax Assessor on forms prescribed by the State Tax Assessor a return for the quarter ending
the last day of the preceding month, except for the month of June, which is for the quarter ending June 30th. These returns
may be on an estimated basis, as long as each April and June installment equals at least 35% of the total tax paid for the
preceding calendar year or 35% of the total tax to be paid for the current calendar year. The remaining installments must
equal 15% of the total tax to be paid for the preceding calendar year or 15% of the total tax to be paid for the current year.
An authorized company official shall affirm which elective is selected. Such elective can not be changed during the current
calendar year. The final return must be filed on or before March 15th covering the prior calendar year.
[2005, c. 218, §31 (amd).]
div>
At the time of filing such returns, each insurance company, captive insurance company, association or attorney-in-fact of
a reciprocal insurer shall pay to the State Tax Assessor the amount of tax shown due.
[1997, c. 435, §5 (amd).]
div>
Insurance companies, captive insurance companies, associations or attorneys-in-fact of a reciprocal insurer with annual tax
liability not exceeding $500 may with approval of the State Tax Assessor file an annual return with payment on or before March
15th covering the prior calendar year.
[1999, c. 414, §26 (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 - §2521-B. Self-insurers; return for calendar year 1982 (REPEALED)
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2521-B. Self-insurers; return for calendar year 1982 (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 - §2521-C. Returns; payment of tax (REPEALED)
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2521-C. Returns; payment of tax (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 - §2521. Power and authority of domestic companies
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2521. Power and authority of domestic companies
Every domestic insurance company and its officers, directors and agents and employees shall have power and authority to comply
with any statute, ordinance or other law of any state, territory or political subdivision thereof, including the District
of Columbia, imposing any license, excise, privilege, occupation, premium or other tax or fee or deposit requirement. No such
company, officer, director, employee or agent shall be subject to liability by reason of any such compliance or payment either
heretofore or hereafter made, if at a later date the Supreme Court of the United States declares such tax or deposit to be
unconstitutional.
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 - §2522. Assessment of tax; notice; suspension for nonpayment
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2522. Assessment of tax; notice; suspension for nonpayment
The State Tax Assessor shall notify the several companies and attorneys-in-fact of a reciprocal insurer mentioned in section
2520, and unless the tax, penalty and interest is paid, the Superintendent of Insurance shall suspend the right of the company
or attorney-in-fact of a reciprocal insurer to do any further business in the State until the tax, penalty or interest is
paid.
[1973, c. 727, § 12 (rpr).]
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 - §2523. Taxation of workers' compensation insurers
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2523. Taxation of workers' compensation insurers
1. Tax on insurance companies. Every insurance company or association which does business or collects premiums or assessments for workers' compensation
insurance in this State shall, for the privilege of doing business in this State and in addition to any other taxes imposed
for that privilege, pay a tax of 2% upon all gross direct premiums written, whether in cash or in notes absolutely payable
on contracts written on risks located or resident in the State for workers' compensation insurance, less return premiums thereon
and less all dividends paid to policyholders.
The tax levied under this section is in lieu of the taxes levied under section 2513, insofar as those taxes are based on workers'
compensation insurance premiums.
[1985, c. 783, § 14 (rpr).]
2. Returns. Insurance companies and associations shall file a separate return under section 2521-A for the tax levied by this section.
[1983, c. 479, § 3 (new).]
3. Fund. Taxes collected under this section shall be paid forthwith by the State Tax Assessor to the General Fund.
[1983, c. 479, § 3 (new).]
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 - §2524. Credit for employer-assisted day care
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2524. Credit for employer-assisted day care
1. Credit allowed. A taxpayer under this chapter constituting an employing unit is allowed a credit against the tax imposed by this chapter
for each taxable year equal to the lowest of:
A. Five thousand dollars;
[1987, c. 343, §8 (new).]
B. Twenty percent of the costs incurred by the taxpayer in providing day care service for children of employees of the taxpayer;
or
[1987, c. 343, §8 (new).]
C. One hundred dollars for each child of an employee of the taxpayer enrolled on a full-time basis, or each full-time equivalent,
throughout the taxable year in day care service provided by the taxpayer or in the first year that the taxpayer provides
day care services, for each child enrolled on a full-time basis, or each full-time equivalent, on the last day of the year.
[1987, c. 343, §8 (new).]
[1989, c. 502, Pt. B, §48 (amd).]
2. Definitions. As used in this section, unless the context indicates otherwise, the following terms have the following meanings.
A. "Employing unit" has the same meaning as in Title 26, section 1043.
[1987, c. 343, §8 (new).]
B. "Providing day care services" means expending funds to build, furnish, license, staff, operate or subsidize a day care center
licensed by the Department of Health and Human Services to provide day care services to children of employees of the taxpayer
at no profit to the taxpayer or to contract with a day care facility licensed by or registered with the department to provide
day care services to children of the employees of the taxpayer. "Providing day care services" also includes the provision
of day care resource and referral services to employees and the provision of vouchers by an employer to an employee for purposes
of paying for day care services for children of the employee.
[1987, c. 343, §8 (new); 2003, c. 689, Pt. B, §6 (rev).]
C. "Quality child care services" has the meaning set forth in section 5219-Q, subsection 1.
[2001, c. 396, §25 (amd).]
[2001, c. 396, §25 (amd); 2003, c. 689, Pt. B, §6 (rev).]
3. Carryover; carry back. The amount of the credit that may be used by a taxpayer for a taxable year may not exceed the amount of tax otherwise due
under this section. Any unused credit may be carried over to the following year or years for a period not to exceed 15 years
or it may be carried back for a period not to exceed 3 years.
[1987, c. 343, §8 (new).]
4. Quality child care services. The credit allowed under subsection 1 doubles in amount if the day care service provided by the taxpayer constitutes quality
child care services.
[2001, c. 358, Pt. D, §1 (aff); c. 396, §26 (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 - §2525-A. Employer-provided long-term care benefits on and after January 1, 2000
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2525-A. Employer-provided long-term care benefits on and after January 1, 2000
1. Credit. A taxpayer under this chapter constituting an employing unit is allowed a credit against the tax imposed by this chapter
for each taxable year equal to the lowest of the following:
A. Five thousand dollars;
[1999, c. 521, Pt. C, §2 (new); §9 (aff).]
B. Twenty percent of the costs incurred by the taxpayer in providing eligible long-term care insurance as part of a benefit
package; or
[2001, c. 679, §2 (amd); §6 (aff).]
C. One hundred dollars for each employee covered by employer-provided eligible long-term care insurance.
[2001, c. 679, §2 (amd); §6 (aff).]
[2001, c. 679, §2 (amd); §6 (aff).]
2. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
A. "Employing unit" has the same meaning as in Title 26, section 1043.
[1999, c. 521, Pt. C, §2 (new); §9 (aff).]
B.
[2001, c. 679, §2 (rp); §6 (aff).]
C. "Eligible long-term care insurance" means:
(1) For tax years beginning on or after January 1, 2000, a qualified long-term care insurance contract as defined in the
Code, Section 7702B(b); and
(2) For tax years beginning on or after January 1, 2002, a contract specified in subparagraph (1) or a long-term care insurance
policy certified by the Superintendent of Insurance under Title 24-A, section 5075-A.
[2001, c. 679, §2 (new); §6 (aff).]
[2001, c. 679, §2 (amd); §6 (aff).]
3. Limitation. The amount of the credit that may be used by a taxpayer for a taxable year may not exceed the amount of tax otherwise due
under this chapter. Any unused credit may be carried over to the following year or years for a period not to exceed 15 years.
[1999, c. 521, Pt. C, §2 (new); §9 (aff).]
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 - §2525. Employer-provided long-term care benefits
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2525. Employer-provided long-term care benefits
1. Credit. A taxpayer under this chapter constituting an employing unit is allowed a credit against the tax imposed by this chapter
for each taxable year that begins on or after July 10, 1989 and before January 1, 2000 equal to the lowest of the following:
A. Five thousand dollars;
[1989, c. 556, Pt. B, §6 (new).]
B. Twenty percent of the costs incurred by the taxpayer in providing long-term care policy coverage as part of a benefit package;
or
[1989, c. 556, Pt. B, §6 (new).]
C. One hundred dollars for each employee covered by an employer-provided long-term care policy.
[1989, c. 556, Pt. B, §6 (new).]
[1999, c. 521, Pt. C, §1 (amd); §9 (aff).]
2. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
A. "Long-term care policy" has the same meaning as in Title 24-A, section 5051.
[1989, c. 556, Pt. B, §6 (new).]
B. "Employing unit" has the same meaning as in Title 26, section 1043.
[1989, c. 556, Pt. B, §6 (new).]
[1989, c. 556, Pt. B, §6 (new).]
3. Limitation. The amount of the credit that may be used by a taxpayer for a taxable year may not exceed the amount of tax otherwise due
under this chapter. Any unused credit may be carried over to the following year or years for a period not to exceed 15 years.
[1989, c. 556, Pt. B, §6 (new).]
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 - §2526. Solid waste reduction investment tax credit
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2526. Solid waste reduction investment tax credit
1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
A. "Employing unit" has the same meaning as in Title 26, section 1043.
[1989, c. 927, §1 (new).]
B. "Solid waste" has the same meaning as in Title 38, section 1303-C.
[1989, c. 927, §1 (new).]
C. "Waste reduction, reuse or recycling equipment" means structures, machinery, equipment or devices, singly or in combination,
designed and required to reduce solid waste generated by the employing unit or to separate, process, modify, convert, treat
or repair solid waste generated within the State so that component materials or substances or recoverable resources may be
used as raw material or for productive use and includes:
(1) Vehicles designed and dedicated exclusively for the collection of source-separated municipal solid waste generated within
the State for the purpose of recycling;
(2) Add-ons or trailers designed to modify collection vehicles and dedicated to sorting, separating and transporting collected
wastes generated within the State that are held for the purpose of recycling;
(3) Containers for the source separation and temporary storage of recyclable wastes generated within the State; or
(4) Industrial processing equipment designed to clean, purify and convert waste into a manufacturing feedstock.
"Waste reduction, reuse or recycling equipment" does not include structures, machinery, equipment or devices used to burn
solid waste.
[1993, c. 433, §1 (amd).]
D. "Investment credit base of equipment" means the total original basis of the equipment for federal income tax purposes, adjusted
to exclude all architectural and engineering fees, site survey fees, legal expenses, development fees and insurance premiums
that are included in the basis of the equipment for federal income tax purposes, of the taxpayer for equipment that was placed
into service for the first time in the State by the taxpayer or other person during the tax year for which the credit is claimed.
[1993, c. 433, §1 (new).]
[1993, c. 433, §1 (amd).]
2. Credit allowed. A taxpayer constituting an employing unit that purchases and uses, or purchases and leases to a person for use by that person
at a fixed facility that separates, processes, converts or treats solid waste intended for sale by that person, any waste
reduction, reuse or recycling equipment used exclusively in the implementation of a solid waste reduction, reuse or recycling
program, is entitled to a credit against the tax imposed by this Part. A taxpayer may claim one of the following credits
for each qualifying piece of equipment.
A. The credit allowed for equipment used to manage the taxpayer's own waste is 25% of the investment credit base of the equipment.
[1993, c. 433, §1 (new).]
B. The credit allowed for equipment used to manage the collection and processing of waste generated by parties other than the
taxpayer is 20% of the investment credit base of the equipment.
[1993, c. 433, §1 (new).]
C. The credit allowed for equipment used to convert waste into a feedstock that can substitute for virgin materials in a manufacturing
process is 30% of the investment credit base of the equipment.
[1993, c. 433, §1 (new).]
D. The credit allowed for equipment placed into service from January 1, 1990 to June 30, 1991 is 30% of the investment credit
base of the equipment or from January 1, 1993 until the day prior to the effective date of this paragraph.
[1993, c. 433, §1 (new).]
[1993, c. 433, §1 (amd).]
3. Eligible equipment. Equipment eligible for the credit allowed under this section includes waste reduction, reuse or recycling equipment used
to reduce, reuse or recycle solid waste, at least 90% of which is generated within the State. A certificate that the equipment
qualifies for the credit provided for in this section from the State Planning Office is required before the tax credit may
be taken. Equipment associated with the separation of wastes prior to incineration is eligible when the State Planning Office
certifies that the separated wastes are being recycled.
[1995, c. 656, Pt. A, §14 (amd).]
4. Limitation; carry-over. The amount of the credit that may be used by a taxpayer for a taxable year may not exceed 50% of the amount of tax otherwise
due under this Part for that year. A credit may not be used to reduce taxes in any tax year starting before January 1, 1993.
Any unused credit may be carried over to the following year or years but must be used by December 31, 2004.
[1997, c. 24, Pt. C, §5 (amd).]
5. Application. This section applies to equipment purchased and placed into use during the period from January 1, 1990 to June 30, 1991
or from January 1, 1993 to June 30, 1995.
[1995, c. 368, Pt. NN, §1 (amd).]
6. Recapture. If a taxpayer disposes of equipment for which a credit was claimed less than 4 years after the equipment was placed into
service for the first time in the State by the taxpayer or other person:
A. The tax imposed under this Part for the taxable year in which the disposition occurs is increased by the following amounts:
(1) If the disposition occurs one year or less after the equipment was placed into service for the first time in the State
by the taxpayer or other person, an amount equal to 100% of the amount allowed as a credit with respect to the equipment disposed
of in the year of disposition and all prior years;
(2) If the disposition occurs more than one year but less than 2 years after the equipment was placed into service for the
first time in the State by the taxpayer or other person, an amount equal to 75% of the amount allowed as a credit with respect
to the equipment disposed of in the year of disposition and all prior years;
(3) If the disposition occurs 2 years or more but less than 3 years after the equipment was placed into service for the
first time in the State by the taxpayer or other person, an amount equal to 50% of the amount allowed as a credit with respect
to the equipment disposed of in the year of disposition and all prior years; or
(4) If the disposition occurs 3 years or more but less than 4 years after the equipment was placed into service for the
first time in the State by the taxpayer or other person, an amount equal to 25% of the amount allowed as a credit with respect
to the equipment disposed of in the year of disposition and all prior years; and
[1993, c. 433, §1 (new).]
B. A portion of any unused credit attributable to the disposed of equipment is disallowed as follows:
(1) If the disposition occurs one year or less after the equipment was placed into service for the first time in the State
by the taxpayer or other person, 100% of any unused credit attributable to the equipment disposed of is disallowed;
(2) If the disposition of the equipment occurs more than one year but less than 2 years after the equipment was placed into
service for the first time in the State by the taxpayer or other person, 75% of any unused credit attributable to the equipment
disposed of is disallowed;
(3) If the disposition of the equipment occurs 2 years or more but less than 3 years after the equipment was placed into
service for the first time in the State by the taxpayer or other person, 50% of any unused credit attributable to the equipment
disposed of is disallowed; or
(4) If the disposition of the equipment occurs 3 years or more but less than 4 years after the equipment was placed into
service for the first time in the State by the taxpayer or other person, 25% of any unused credit attributable to the equipment
disposed of is disallowed.
[1993, c. 433, §1 (new).]
This subsection does not apply to equipment that was acquired before October 1, 1993.
[1993, c. 433, §1 (new).]
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 - §2527. Educational attainment investment tax credit
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2527. Educational attainment investment tax credit
1. Definitions. As used in this section, the terms "need-based scholarship" and "qualified scholarship organization" have the same meaning
as under Title 10, section 1100-Y, subsection 1.
[2001, c. 700, §2 (new); §10 (aff).]
2. Credit allowed. A taxpayer is allowed a credit against the tax otherwise due under this chapter in the amount of:
REVISOR'S NOTE: Paragraph A did not become effective per operation of PL 2001, c. 700, §11.
B. Twenty percent of the amount contributed during the taxable year to a qualified scholarship organization for need-based
scholarships for tax years beginning in 2007; or
[2005, c. 12, Pt. Q, §3 (amd).]
C. Fifty percent of the amount contributed during the taxable year to a qualified scholarship organization for need-based scholarships
for tax years beginning after 2007.
[2005, c. 12, Pt. Q, §3 (amd).]
The total combined credit for each taxpayer under this section and section 2528 may not exceed $10,000 annually for the taxpayer.
For purposes of this subsection, the contribution may not directly benefit a director, trustee, officer or employee of the
taxpayer claiming the credit or the spouse or child of a director, trustee, officer or employee. The contribution may be
made in cash, its equivalent or in stock. In no case may the credit reduce the tax otherwise due under this chapter to less
than zero.
[2005, c. 12, Pt. Q, §3 (amd).]
3. Carry over to succeeding years. A taxpayer entitled to a credit under this section for any taxable year may carry over and apply to the tax liability for
any one or more of the next succeeding 5 taxable years the portion, as reduced from year to year, of any unused credits.
[2001, c. 700, §2 (new); §10 (aff).]
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 - §2528. Recruitment credit
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2528. Recruitment credit
1. Credit allowed. A taxpayer is allowed a credit against the tax otherwise due under this chapter in the amount of:
REVISOR'S NOTE: Paragraph A did not become effective per operation of PL 2001, c. 700, §11.
B. Beginning in 2007, 15% of the amount of loan repayments paid during the taxable year to a creditor on behalf of an employee
of the taxpayer as part of a postsecondary education loan repayment agreement between the taxpayer and the employee of the
taxpayer.
[2005, c. 12, Pt. Q, §4 (amd).]
[2005, c. 12, Pt. Q, §4 (amd).]
2. Conditions. The credit allowed under subsection 1 is subject to the conditions under this subsection.
A. At the time the taxpayer and the employee enter into a loan repayment agreement under this section, the employee of the
taxpayer must have graduated from an accredited public or private institution of higher education, be a resident individual
as defined in section 5102, subsection 5 and have an outstanding postsecondary education loan as defined by rules established
by the Finance Authority of Maine pursuant to Title 10, section 1100-Y, subsection 7.
[2001, c. 700, §2 (new); §10 (aff).]
B. A postsecondary education loan repayment agreement under this section may not directly benefit a director, trustee or officer
of the taxpayer claiming the credit or the spouse or child of a director, trustee or officer of the taxpayer claiming the
credit.
[2001, c. 700, §2 (new); §10 (aff).]
C. The total credit for each taxpayer under this section and section 2527 may not exceed $10,000 annually for the taxpayer
and may not reduce the tax otherwise due under this chapter to less than zero. A taxpayer entitled to a credit under this
section for any taxable year may carry over and apply to the tax liability for any one or more of the next succeeding 5 taxable
years the portion, as reduced from year to year, of any unused credits.
[2001, c. 700, §2 (new); §10 (aff).]
[2001, c. 700, §2 (new); §10 (aff).]
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 - §2529. Pine Tree Development Zone tax credit
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2529. Pine Tree Development Zone tax credit
1. Credit allowed. A taxpayer that is a qualified Pine Tree Development Zone business as defined in Title 30-A, section 5250-I, subsection
17 is allowed a credit in the amount of:
A. One hundred percent of the tax that would otherwise be due under this chapter upon premiums that are attributable to a qualified
business activity as defined in Title 30-A, section 5250-I, subsection 16 for each of the first 5 tax years beginning with
the tax year in which the taxpayer commences its qualified business activity; and
[2005, c. 351, §10 (rpr); §26 (aff).]
B. Fifty percent of the tax that would otherwise be due under this chapter upon premiums that are attributable to a qualified
business activity as defined in Title 30-A, section 5250-I, subsection 16 for each of the 5 tax years following the time period
in paragraph A.
[2005, c. 351, §10 (rpr); §26 (aff).]
[2005, c. 351, §10 (amd); §26 (aff).]
2. Apportioned credit in certain circumstances. In the case of a qualified Pine Tree Development Zone business as defined in Title 30-A, section 5250-I, subsection 17 that
engages in both qualified and nonqualified business activities in the State, the credit provided for in this section is limited
to that portion that is attributable to the qualified business activity. The limitation is calculated by an apportionment.
The apportionment is determined by a fraction, the numerator of which is the property value plus the payroll for the taxable
year attributed to the qualified business activity of the business and the denominator of which is the statewide property
value plus payroll for the taxable year of the business.
If the apportionment provisions of this subsection do not fairly reflect the amount of the credit associated with the taxpayer's
qualified business activity, the taxpayer may petition for, or the State Tax Assessor may require, in respect to all or any
part of the taxpayer's business activity, the employment of another reasonable method to effectuate an equitable apportionment
of the credit associated with the taxpayer's qualified business activity.
[2005, c. 351, §11 (rpr); §26 (aff).]
3. Limitation. The credit provided by this section may not be claimed for calendar years beginning on or after January 1, 2019.
[2003, c. 451, Pt. NNN, §4 (new); §8 (aff).]
4. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
A. "Property" means the average value of the taxpayer's real and tangible personal property that is owned or rented and used
during the tax period. Property owned by the taxpayer is valued at its original cost. Property rented by the taxpayer is
valued at 8 times the net annual rental rate. The net annual rental rate is the annual rental rate paid by the taxpayer.
[2005, c. 351, §12 (new).]
B. "Payroll" means the total amount paid in this State during the tax period by the taxpayer for compensation, including wages,
pretax employee contributions made to a benefit package and employer contributions made to an employee benefit package.
[2005, c. 351, §12 (new).]
[2005, c. 351, §12 (new).]
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 - §2530. Maine Life and Health Insurance Guaranty Association credit
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 357: INSURANCE COMPANIES
§2530. Maine Life and Health Insurance Guaranty Association credit
A taxpayer is allowed a credit against the tax otherwise due under this chapter as determined under Title 24-A, section 4621.
[2005, c. 346, §15 (new); §16 (aff).]
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
