Maine Revised Statutes Title 36 Sec. 5255-C – Withholding on certain gambling winnings
Current as of: 2023 | Check for updates
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Terms Used In Maine Revised Statutes Title 36 Sec. 5255-C
- 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
- Person: means an individual, firm, partnership, association, society, club, corporation, financial institution, estate, trust, business trust, receiver, assignee or any other group or combination acting as a unit, the State or Federal Government or any political subdivision or agency of either government. 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
A person maintaining an office or transacting business within this State that is required to deduct and withhold a tax on items of income under the Code, Section 3402(q) shall deduct and withhold from such items, to the extent they constitute income that is not excluded from taxation under Maine law, a tax equal to those winnings multiplied by the highest marginal tax rate under section 5111 applicable to the tax year during which the winnings are paid plus any other tax applicable to the winnings under this Part. [PL 2021, c. 630, Pt. A, §4 (NEW).]
SECTION HISTORY
PL 2021, c. 630, Pt. A, §4 (NEW).