| | | B. If the personal representative makes an election pursuant | | to section 4062, subsection 2-B, the personal representative | | shall make such election on a timely filed return.__The | | return must be in the form prescribed by the assessor and it | | must be accompanied by a copy of the federal estate tax | | return, if any, and other supporting documentation that the | | assessor may require, including documentation related to an | | election made pursuant to section 4062, subsection 2-B. |
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| | | Sec. 4. Application. Those sections of this Act that repeal and | | replace the Maine Revised Statutes, Title 36, section 4062, | | subsection 1-A and section 4068, subsection 3 and enact Title 36, | | section 4062, subsections 2-A and 2-B apply to estates of | | decedents dying on or after January 1, 2005. |
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| | | This bill allows for a special estate tax election at the | | state level so that the estate of an individual with a surviving | | spouse may fully fund the taxable estate with an amount equal to | | the federal exclusion without changing the taxable nature of the | | estate for Maine purposes. |
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