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06. When should I submit the request for exemption or reduction?

All requests for exemptions and reductions must be completed and submitted at least 5 business days prior to the closing date.

The real estate withholding is automatically withheld by the closing agent at the time of the property transfer and remitted to MRS with Form REW-1. Once Maine Revenue Services receives the funds, no refunds are made until the related income tax returns are filed for the year of sale.