Maine Revised Statutes Title 36 Sec. 4102 – Definitions
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As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2011, c. 380, Pt. M, §9 (NEW).]
1. Adjusted federal gross estate. “Adjusted federal gross estate” means a decedent‘s federal gross estate as modified by Maine elective property and the value of all taxable gifts as defined under the Code, Section 2503 made by the decedent during the one-year period ending on the date of the decedent’s death.
[PL 2013, c. 331, Pt. C, §17 (AMD); PL 2013, c. 331, Pt. C, §40 (AFF).]
Terms Used In Maine Revised Statutes Title 36 Sec. 4102
- Bequest: Property gifted by will.
- 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
- Decedent: A deceased person.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Devise: To gift property by will.
- Federal gross estate: means the gross estate of a decedent as determined by the assessor in accordance with the Code. See Maine Revised Statutes Title 36 Sec. 4102
- Federal taxable estate: means the taxable estate of a decedent as determined using the applicable provisions of the Code as of the decedent's date of death, except that the state death tax deduction contained in the Code, Section 2058 and the termination provision contained in the Code, Section 2210 must be disregarded. See Maine Revised Statutes Title 36 Sec. 4102
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
- 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.
- Maine elective property: means all property in which a decedent at the time of death had a qualified income interest for life and with respect to which for purposes of determining the tax imposed by this chapter or chapter 575 on the estate of a predeceased spouse of the decedent the federal taxable estate of that predeceased spouse was decreased pursuant to subsection 7, paragraph A or section 4062, subsection 1?B, paragraph B. See Maine Revised Statutes Title 36 Sec. 4102
- Maine exclusion amount: means $2,000,000. See Maine Revised Statutes Title 36 Sec. 4102
- Maine qualified terminable interest property: means property:
A. See Maine Revised Statutes Title 36 Sec. 4102Maine taxable estate: means the federal taxable estate:
A. See Maine Revised Statutes Title 36 Sec. 4102Nonresident: means a natural person domiciled in a jurisdiction other than this State at the time of death. See Maine Revised Statutes Title 36 Sec. 4102 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 Personal representative: means a personal representative of a decedent or, if there is no personal representative appointed, qualified and acting within this State, any person who is in the actual or constructive possession of any property included in the federal gross estate of the decedent, any Maine elective property or any taxable gifts made during the one-year period ending on the date of the decedent's death. See Maine Revised Statutes Title 36 Sec. 4102 Resident: means a natural person domiciled in this State at the time of death. See Maine Revised Statutes Title 36 Sec. 4102 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 Transfer: includes the passing of property or any interest therein, in possession or enjoyment, present or future, by inheritance, descent, devise, succession, bequest, grant, deed, bargain sale, gift or appointment in the manner described in this chapter. See Maine Revised Statutes Title 36 Sec. 4102 Value: means , when determining value for purposes of this chapter, with respect to an estate or to property included in an estate, including Maine qualified terminable interest property, the value as determined by the assessor in accordance with the Code. See Maine Revised Statutes Title 36 Sec. 4102 Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72
2. Federal gross estate. “Federal gross estate” means the gross estate of a decedent as determined by the assessor in accordance with the Code. The termination provision contained in the Code, Section 2210 must be disregarded.
[PL 2011, c. 380, Pt. M, §9 (NEW).]
3. Federal taxable estate. “Federal taxable estate” means the taxable estate of a decedent as determined using the applicable provisions of the Code as of the decedent’s date of death, except that the state death tax deduction contained in the Code, Section 2058 and the termination provision contained in the Code, Section 2210 must be disregarded.
[PL 2011, c. 380, Pt. M, §9 (NEW).]
4. Maine elective property. “Maine elective property” means all property in which a decedent at the time of death had a qualified income interest for life and with respect to which for purposes of determining the tax imposed by this chapter or chapter 575 on the estate of a predeceased spouse of the decedent the federal taxable estate of that predeceased spouse was decreased pursuant to subsection 7, paragraph A or section 4062, subsection 1?B, paragraph B. The value of Maine elective property is the value determined by the assessor in accordance with the Code as if such property were includible in the decedent’s federal gross estate pursuant to the Code, Section 2044 and, in the case of estates that do not incur a federal estate tax, as if the estate had incurred a federal estate tax.
[PL 2011, c. 380, Pt. M, §9 (NEW).]
5. Maine exclusion amount. For estates of decedents dying on or after January 1, 2013, but before January 1, 2016, “Maine exclusion amount” means $2,000,000. For estates of decedents dying on or after January 1, 2016, but before January 1, 2018, “Maine exclusion amount” means the basic exclusion amount determined for the calendar year in accordance with the Code, Section 2010(c)(3). For estates of decedents dying on or after January 1, 2018, “Maine exclusion amount” means $5,600,000.
[PL 2017, c. 474, Pt. G, §1 (AMD).]
6. Maine qualified terminable interest property. “Maine qualified terminable interest property” means property:
A. That is eligible to be treated as qualified terminable interest property under the Code, Section 2056(b)(7); [PL 2011, c. 380, Pt. M, §9 (NEW).]
B. For which no election allowable under the Code, Section 2056(b)(7) is made with respect to the federal estate tax; and [PL 2011, c. 380, Pt. M, §9 (NEW).]
C. With respect to which an election is made, on a return timely filed with the assessor, to treat the property as Maine qualified terminable interest property for purposes of the tax imposed by this chapter. The amount of property with respect to which the election is made may not be less than zero or greater than the amount by which the federal applicable exclusion amount under the Code, Section 2010 exceeds the Maine exclusion amount. For the purposes of this paragraph, “federal applicable exclusion amount” does not include any deceased spousal unused exclusion amount under the Code, Section 2010. [PL 2013, c. 546, §11 (AMD).]
[PL 2013, c. 546, §11 (AMD).]
7. Maine taxable estate. “Maine taxable estate” means the federal taxable estate:
A. Decreased by the value of Maine qualified terminable interest property; [PL 2011, c. 380, Pt. M, §9 (NEW).]
B. Increased by the value of Maine elective property; and [PL 2011, c. 380, Pt. M, §9 (NEW).]
C. Increased by, notwithstanding the Code, Section 2035, the value of all taxable gifts as defined under the Code, Section 2503 made by the decedent during the one-year period ending on the date of the decedent’s death. [PL 2011, c. 380, Pt. M, §9 (NEW).]
[PL 2011, c. 380, Pt. M, §9 (NEW).]
8. Nonresident. “Nonresident” means a natural person domiciled in a jurisdiction other than this State at the time of death.
[PL 2011, c. 380, Pt. M, §9 (NEW).]
9. Personal representative. “Personal representative” means a personal representative of a decedent or, if there is no personal representative appointed, qualified and acting within this State, any person who is in the actual or constructive possession of any property included in the federal gross estate of the decedent, any Maine elective property or any taxable gifts made during the one-year period ending on the date of the decedent’s death.
[PL 2011, c. 380, Pt. M, §9 (NEW).]
10. Resident. “Resident” means a natural person domiciled in this State at the time of death.
[PL 2011, c. 380, Pt. M, §9 (NEW).]
11. Transfer. “Transfer” includes the passing of property or any interest therein, in possession or enjoyment, present or future, by inheritance, descent, devise, succession, bequest, grant, deed, bargain sale, gift or appointment in the manner described in this chapter.
[PL 2011, c. 380, Pt. M, §9 (NEW).]
12. Value. “Value” means, when determining value for purposes of this chapter, with respect to an estate or to property included in an estate, including Maine qualified terminable interest property, the value as determined by the assessor in accordance with the Code.
[PL 2011, c. 380, Pt. M, §9 (NEW).]
SECTION HISTORY
PL 2011, c. 380, Pt. M, §9 (NEW). PL 2013, c. 331, Pt. C, §17 (AMD). PL 2013, c. 331, Pt. C, §40 (AFF). PL 2013, c. 546, §11 (AMD). PL 2015, c. 267, Pt. I, §1 (AMD). PL 2017, c. 474, Pt. G, §1 (AMD).