Maine Revised Statutes Title 36 Sec. 2521-A – Returns; payment of tax
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maine Revised Statutes Title 36 Sec. 2521-A
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Return: means any document, digital file or electronic data transmission containing information required by this Title to be reported to the State Tax Assessor. See Maine Revised Statutes Title 36 Sec. 111
- Tax: means the total amount required to be paid, withheld and paid over or collected and paid over with respect to estimated or actual tax liability under this Title, any credit or reimbursement allowed or paid pursuant to this Title that is recoverable by the assessor and any amount assessed by the assessor pursuant to this Title, including any interest or penalties provided by law. See Maine Revised Statutes Title 36 Sec. 111
- Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72
Every insurance company, association, producer or attorney-in-fact of a reciprocal insurer subject to the tax imposed by this chapter shall make payment of estimated tax on or before the last day of each April, the 25th day of each June and the last day of each October. Each April and June estimated tax payment must equal 35% of the total tax paid for the preceding calendar year or at least 35% of the total tax to be paid for the current calendar year and each October estimated tax payment must equal 15% of the total tax paid for the preceding calendar year or at least 15% of the total tax to be paid for the current calendar year except that, for the tax on nonadmitted insurance premiums under section 2531, the surplus lines producer or the insured may elect to determine the estimated tax payment for each estimated tax period on the basis of premiums on contracts written during each estimated tax period of the current calendar year. A final return must be filed on or before March 15th covering the prior calendar year. [PL 2023, c. 441, Pt. C, §1 (AMD); PL 2023, c. 441, Pt. C, §11 (AFF).]
At the time of filing the returns, each insurance company, association, producer or attorney-in-fact of a reciprocal insurer shall pay to the assessor the amount of tax shown due. [PL 2007, c. 627, §54 (RPR); PL 2007, c. 627, §96 (AFF).]
An insurance company, association, producer or attorney-in-fact of a reciprocal insurer whose annual tax liability under this chapter does not exceed $1,000 may file an annual return with payment on or before March 15th covering the prior calendar year. [PL 2007, c. 627, §54 (RPR); PL 2007, c. 627, §96 (AFF).]
SECTION HISTORY
PL 1973, c. 727, §11 (NEW). PL 1975, c. 377 (AMD). PL 1977, c. 679, §11 (AMD). PL 1981, c. 364, §30 (AMD). PL 1989, c. 702, §E13 (AMD). PL 1991, c. 528, §§PPP1,2 (AMD). PL 1991, c. 528, §§PPP5,RRR (AFF). PL 1991, c. 591, §§PPP1,2 (AMD). PL 1991, c. 591, §PPP5 (AFF). PL 1991, c. 846, §27 (AMD). PL 1993, c. 410, §OO1 (AMD). PL 1997, c. 435, §5 (AMD). PL 1999, c. 414, §26 (AMD). PL 2005, c. 218, §31 (AMD). PL 2007, c. 240, Pt. KKKK, §5 (AMD). PL 2007, c. 240, Pt. KKKK, §7 (AFF). PL 2007, c. 437, §12 (AMD). PL 2007, c. 437, §22 (AFF). PL 2007, c. 627, §54 (RPR). PL 2007, c. 627, §96 (AFF). PL 2015, c. 300, Pt. A, §29 (AMD). PL 2023, c. 441, Pt. C, §1 (AMD). PL 2023, c. 441, Pt. C, §11 (AFF).