Terms Used In Maine Revised Statutes > Title 36 > Part 4 > Chapter 361 - Railroad Companies

• 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.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Maine capital tax credit: is a credit against the tax imposed by section 2624. See Maine Revised Statutes Title 36 Sec. 2621-A
• Net railway operating income: means railway operating revenues, including debits and credits arising from equipment rents and joint facility rents, less railway operating expenses, tax accruals and uncollectible railway revenues. See Maine Revised Statutes Title 36 Sec. 2621-A
• Notice: means written notification served personally, sent by certified mail or sent by first-class mail to the last known address of the person for whom the notification is intended. See Maine Revised Statutes Title 36 Sec. 111
• Operating investment: means investment in railway property used in transportation service, less depreciation, plus cash, including temporary cash investments and special deposits, plus material and supplies. See Maine Revised Statutes Title 36 Sec. 2621-A
• 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
• 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