Maine Revised Statutes Title 36 Sec. 5116 – Tax waiver for combat casualty
Current as of: 2023 | Check for updates
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Terms Used In Maine Revised Statutes Title 36 Sec. 5116
- Code: means the United States Internal Revenue Code of 1986 and amendments to that Code as of December 31, 2022. See Maine Revised Statutes Title 36 Sec. 111
- 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
- Taxpayer: means any person required to file a return under this Title or to pay, withhold and pay over or collect and pay over any tax imposed by this Title. See Maine Revised Statutes Title 36 Sec. 111
- Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72
A taxpayer whose income tax liability is forgiven pursuant to Section 692 of the Code for any tax year is entitled to a waiver of state income tax for the same tax year, including any related interest and penalty, in the same manner in which the federal tax liability is forgiven. In the case of a joint return, the waiver is equal to the proportion of the tax on the joint return equal to the ratio of the deceased taxpayer’s tax liability computed as if both taxpayers were filing separately to the sum of the deceased taxpayer’s tax liability and the taxpayer’s spouse’s tax liability computed as if filing separately. [PL 2003, c. 287, §1 (NEW); PL 2003, c. 287, §2 (AFF).]
SECTION HISTORY
PL 2003, c. 287, §1 (NEW). PL 2003, c. 287, §2 (AFF).