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2011 Maine Revised Statutes
TITLE 36: TAXATION
Chapter 825: INFORMATION RETURNS
36 §5245. Amended returns

Universal Citation:
36 ME Rev Stat § 5245 (2011 through 125th Legis)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

Part 8: INCOME TAXES

§5245. Amended returns

1. Amended return required. Every partnership or S corporation that is required by section 5241 to file a return shall file an amended Maine return whenever the partnership or S corporation files an amended federal return affecting its net income under this Part or the amount of the distributive share of any partner or shareholder under this Part, whenever the United States Internal Revenue Service changes or corrects any item affecting the taxpayer's net income under this Part or the amount of the distributive share of any partner or shareholder under this Part or whenever for any reason there is a change or correction affecting the taxpayer's net income under this Part or the amount of the distributive share of any partner or shareholder under this Part. The amended Maine return must be filed within 180 days from the date of the final determination of the change or correction or the date of the filing of the federal amended return. For purposes of this subsection, "date of the final determination" has the same meaning as provided in section 5227-A, subsection 2.

[ 2011, c. 1, Pt. CC, §4 (AMD); 2011, c. 1, Pt. CC, §5 (AFF) .]

2. Contents of amended return. The amended Maine return must indicate the change or correction and the reason for that change or correction. The amended return constitutes an admission as to the correctness of the change unless the taxpayer includes with the return a written explanation of the reason the change or correction is erroneous. If the taxpayer files an amended federal return, a copy of the amended federal return must be attached to the amended Maine return. The State Tax Assessor may require additional information to be filed with the amended Maine return. The assessor may prescribe exceptions to the requirements of this section.

[ 2007, c. 693, §34 (NEW) .]

3. Notice of change or correction. A claim for credit or refund arising from an amended return filed pursuant to this section may not be made by a partner or shareholder of the partnership or S corporation unless the amended return is filed by the partnership or S corporation within 3 years from the date the original return was filed. For purposes of this subsection, a return filed before the last day prescribed for the filing of a return is deemed to be filed on that last day.

[ 2011, c. 1, Pt. CC, §4 (AMD); 2011, c. 1, Pt. CC, §5 (AFF) .]

SECTION HISTORY

2007, c. 693, §34 (NEW). 2011, c. 1, Pt. CC, §4 (AMD). 2011, c. 1, Pt. CC, §5 (AFF).

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