Volume 28, Issue 7		September 2018

 

2018 Maine Tax Practitioner Institute and Maine Tax Forum
Educational Programs Coming Soon
(presented by SCORE Maine)

Don’t miss out on these continuing education opportunities. Registration materials and the full agenda for each program is available online at http://www.scoremaine.org/tax-practitioner-institute/ and at http://www.scoremaine.org/maine-tax-forum/.

The dates and locations for this year are as follows:

Tax Practitioner Institute
October 23 – Augusta Civic Center
October 25 – Brewer, Jeff’s Catering
October 30 – Portland, Italian Heritage Center, 40 Westland Avenue

Maine Tax Forum
November 7 & 8 – Augusta Civic Center

What’s the difference between these programs?

The Tax Practitioner Institute (“TPI”) is focused on the practical application of federal and Maine tax rules and updates in tax law. TPI is a primer for newer practitioners and a refresher for the more experienced. 

The Maine Tax Forum (“MTF”) is especially beneficial to experienced professionals providing tax advice to clients and assisting with more complex tax situations. Maine professionals engaged in tax, accounting and legal client service practices that are impacted by annual changes in the federal and state tax laws, will benefit from the in-depth presentations at this event.

2018 Maine Sales and Use Tax Symposiums

The Sales, Fuel and Special Tax Division at Maine Revenue Services is pleased to announce dates for this fall’s Sales and Use Tax Symposiums:

  October 17 – Keeley’s Banquet Center, Portland, Maine
  October 23 – Presque Isle Inn and Convention Center, Presque Isle, Maine
  October 24 – Bangor Banquet and Conference Center, Bangor, Maine
  October 29 – Elks Lodge, Augusta, Maine

Details and registration form can be found at: www.maine.gov/revenue/salesuse/SymposiumRegistrationFormfiles/2018SalesSymposiumDates.html.

Sales and Use Tax – Sales Tax Bulletins

General Information Bulletin #108 has been published and can be found at www.maine.gov/revenue/salesuse/salestax/bulletinssales.htm by scrolling to the bottom of the page. This edition includes:

NEW -

REVISED -

GUIDANCE -

Maine Revenue Services has issued guidance for Registration of Remote Sellers

Electronic Filing of Transfer Tax Forms

Any transfer of real estate in Maine from one person to another person is subject to the State-imposed transfer tax.  The tax, $2.20 for every $500 of property value, is split between the transferor and the transferee.  The tax also applies to transfers of controlling interest in real estate.

A change to the State’s Real Estate Transfer Tax (RETT) declaration electronic filing requirements is approaching.  This change may result in a requirement for certain preparers, previously exempt, to begin filing electronically.  Electronic filing is more efficient, less expensive, and results in fewer errors than traditional paper filing.

Beginning January 1, 2019, a person who, by themselves or through employees, prepared at least 100 RETT declarations in 2018 will be required to file all RETT declarations through the State’s electronic filing system.  This threshold is down from the 2018 requirement of 200 declarations prepared in 2017.  See MRS Rule 104: Filing of Maine Tax Returns at: https://www.maine.gov/revenue/rules/pdf/rule104.pdf. 

To create an electronic filing account and to file RETT declarations, visit the RETT Declarations Online Service at: https://www1.maine.gov/cgi-bin/online/mrs/rettd/index.pl. A preparer who is subjected to undue hardship from this requirement may request an exemption from electronic filing.  An exemption request must be submitted in writing to Maine Revenue Services, Property Tax Division, P.O. Box 9106, Augusta, Maine, 04332-9106.