Maine Revised Statutes Title 36 Sec. 5244 – Combined report
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Terms Used In Maine Revised Statutes Title 36 Sec. 5244
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means any business entity subject to income taxation as a corporation under the laws of the United States, except the following:
A. See Maine Revised Statutes Title 36 Sec. 5102Maine net income: means , for any taxable year for any corporate taxpayer, the taxable income of that taxpayer for that taxable year under the laws of the United States as modified by section 5200?A and apportionable to this State under chapter 821. See Maine Revised Statutes Title 36 Sec. 5102 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 Unitary business: means a business activity which is characterized by unity of ownership, functional integration, centralization of management and economies of scale. See Maine Revised Statutes Title 36 Sec. 5102
The combined report required by section 5220, subsection 5, must include, both in the aggregate and by corporation, a list of the federal taxable income, the modifications provided by section 5200-A, the sales in Maine and everywhere as defined in chapter 821 and the Maine net income of the unitary business. Neither the income nor the sales of a corporation that is not required to file a federal income tax return may be included in the combined report. [PL 2007, c. 240, Pt. V, §14 (AMD); PL 2007, c. 240, Pt. V, §15 (AFF).]
SECTION HISTORY
PL 1985, c. 675, §§3,5 (NEW). PL 1987, c. 841, §14 (AMD). PL 1997, c. 24, §C12 (AMD). PL 1997, c. 24, §C16 (AFF). PL 2007, c. 240, Pt. V, §14 (AMD). PL 2007, c. 240, Pt. V, §15 (AFF).