Maine Revised Statutes Title 36 Sec. 5217-A – Income tax paid to other taxing jurisdiction
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Terms Used In Maine Revised Statutes Title 36 Sec. 5217-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.
- Maine adjusted gross income: means , for a resident individual, the federal adjusted gross income of that individual, as modified by section 5122. See Maine Revised Statutes Title 36 Sec. 5102
- Resident individual: means an individual:
A. See Maine Revised Statutes Title 36 Sec. 5102Statute: A law passed by a legislature. 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 United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72 Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72
A resident individual is allowed a credit against the tax otherwise due under this Part, excluding the tax imposed by section 5203?C, for the amount of income tax imposed on that individual for the taxable year by another state of the United States, a political subdivision of any such state, the District of Columbia or any political subdivision of a foreign country that is analogous to a state of the United States with respect to income subject to tax under this Part that is derived from sources in that taxing jurisdiction. In determining whether income is derived from sources in another jurisdiction, the assessor may not employ the law of the other jurisdiction but shall instead assume that a statute equivalent to section 5142 applies in that jurisdiction. The credit, for any of the specified taxing jurisdictions, may not exceed the proportion of the tax otherwise due under this Part, excluding the tax imposed by section 5203?C, that the amount of the taxpayer‘s Maine adjusted gross income derived from sources in that taxing jurisdiction bears to the taxpayer’s entire Maine adjusted gross income; except that, when a credit is claimed for taxes paid to both a state and a political subdivision of a state, the total credit allowable for those taxes does not exceed the proportion of the tax otherwise due under this Part, excluding the tax imposed by section 5203-C, that the amount of the taxpayer’s Maine adjusted gross income derived from sources in the other state bears to the taxpayer’s entire Maine adjusted gross income. [PL 2003, c. 673, Pt. JJ, §4 (AMD); PL 2003, c. 673, Pt. JJ, §6 (AFF).]
SECTION HISTORY
PL 1987, c. 769, §A160 (NEW). PL 1991, c. 528, §N16 (AMD). PL 1991, c. 528, §§N17,RRR (AFF). PL 1991, c. 591, §N16 (AMD). PL 1991, c. 591, §N17 (AFF). PL 2003, c. 391, §9 (AMD). PL 2003, c. 673, §JJ4 (AMD). PL 2003, c. 673, §JJ6 (AFF).