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14. If the estate of a Maine resident decedent contains intangible property located in another state, such as funds in a bank account, is that property taxable to Maine?

Yes. All intangible property of a Maine resident decedent is subject to Maine estate tax. Likewise, Maine-located intangible property of a nonresident decedent is ordinarily not subject to Maine estate tax. The exception is Maine real or tangible personal property transferred to a trust, LLC or other pass-through entity, which is sometimes taxable to Maine (see MRS Rule 601).

(Rev. 1/23/08)