Maine Revised Statutes Title 36 Sec. 5180 – Taxation of limited liability companies
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1. Classified as partnership. For purposes of taxation pursuant to this Part, a limited liability company formed under Title 31, former chapter 13 or chapter 21 or qualified to do business in this State as a foreign limited liability company is classified as a partnership, unless classified otherwise for federal income tax purposes, in which case the limited liability company is classified in the same manner as it is classified for federal income tax purposes.
[PL 2009, c. 629, Pt. A, §3 (AFF); PL 2009, c. 629, Pt. B, §9 (AMD).]
Terms Used In Maine Revised Statutes Title 36 Sec. 5180
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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
2. Taxation.
[PL 2009, c. 629, Pt. A, §3 (AFF); PL 2009, c. 629, Pt. B, §10 (RP).]
SECTION HISTORY
PL 1999, c. 414, §41 (NEW). PL 2009, c. 629, Pt. A, §3 (AFF). PL 2009, c. 629, Pt. B, §§9, 10 (AMD).