How is Maine estate tax calculated?
At 8, 10, and 12 percent on the portion of the Maine taxable estate above the exclusion amount for the year of death, a three-tier structure Maine has used since 2013. The exclusion re-indexes each year ($6,410,000 for 2023, $6,800,000 for 2024, $7,000,000 for 2025, $7,160,000 for 2026), so the year of death sets both the threshold and the amount exposed to tax.
What personal property lists must Maine businesses give local assessors?
A true and perfect list of all property the taxpayer possessed on April 1, plus written answers to questions from the assessor about its nature, situation, and value, within 30 days of the request under 36 M.R.S. § 706-A. A taxpayer who refuses or neglects to answer is barred from appealing the assessment, and one notified by mail cannot seek an abatement unless the list is later supplied with a showing of why it was late.