Terms Used In Maine Revised Statutes > Title 10 > Part 2 > Chapter 110 > Subchapter 9 - Maine Seed Capital Tax Credit Program

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authority: means the Finance Authority of Maine as established by this chapter. See Maine Revised Statutes Title 10 Sec. 963-A
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• 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.
• Department: means the Department of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Natural resource enterprise: means an agricultural enterprise or a fishing enterprise, but does not include selling of food at wholesale or retail, except when that selling is carried out as part of the natural resource enterprise. See Maine Revised Statutes Title 10 Sec. 963-A
• 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.
• Professional: when used with reference to office space, means professions or professionals regulated or licensed under applicable state law. See Maine Revised Statutes Title 10 Sec. 963-A
• United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72
• Value-added: means that an enhancement to a product or service that increases the value or marketability of the product or service has been applied. See Maine Revised Statutes Title 10 Sec. 963-A
• Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72