MRS Rulemaking Activity

Rule 202, “Tree Growth Tax Law Valuations - 2008.” Revised rule 202, available at www.maine.gov/revenue/rules, which was last amended for 2007, fulfills the requirement that each year the State Tax Assessor determine 100% valuations per acre for each forest type by economic region for parcels under the Tree Growth Tax Law. These changes to Rule 202 are effective March 9, 2008.

Rule 801 Revised, “Apportionment of Income .” Revised Rule 801, available at www.maine.gov/revenue/rules, explains the basis for the apportionment of net income of corporations, pass-through entities, sole proprietorships and other business types. Current revisions reflect recent statutory changes to the apportionment of income and clarify definitions and provide explanations of various aspects of apportionment. These changes to Rule 801 are effective March 12, 2008.

Rule 810 Revised, “Maine Unitary Business Taxable Income, Combined Reports and Tax Returns.” Revised Rule 810, available at www.maine.gov/revenue/rules, describes standards for determining income tax for unitary businesses and for filing combined reports. Current revisions reflect recent statutory changes to the apportionment of income and clarify definitions and provide guidance regarding estimated tax payments. These changes to Rule 810 are effective March 12, 2008.

Federal Economic Stimulus Rebates

Taxpayers who must file a federal income tax return for the sole purpose of getting the federal economic stimulus rebate do not need to file a Maine income tax return unless they otherwise meet Maine's filing requirements.

Generally, residents of Maine who are required to file a federal income tax return and part-year residents, nonresidents and “safe harbor” residents who have Maine taxable income must file a Maine income tax return. However, a taxpayer is not required to file a Maine individual income tax return if all of the following requirements are met:

Tax Return Preparer Identification - Reminder

Tax return preparer's that are paid to complete Maine tax returns must include their signature, printed name and name of the business, date signed, telephone number and their social security number (or PTIN) in the space provided on each return they prepare.

Missing information may result in slower processing of affected returns.