Maine Revised Statutes > Title 36 > Part 8 > Chapter 811 – Computation of Taxable Income of Resident Estates and Trusts
Current as of: 2023 | Check for updates
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Other versions
| § 5163 | Maine taxable income of resident estate or trust |
| § 5164 | Fiduciary adjustment |
| § 5165 | Credit for income tax of another state |
Terms Used In Maine Revised Statutes > Title 36 > Part 8 > Chapter 811 - Computation of Taxable Income of Resident Estates and Trusts
- 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
- 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
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Fiduciary: A trustee, executor, or administrator.
- 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.
- Resident estate or trust: shall mean :
A. See Maine Revised Statutes Title 36 Sec. 5102Tax: 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