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Estate Tax (706ME) For decedents dying on or after January 1, 2013, Maine imposes a tax on estates based on the value of the Maine taxable estate, even if there is no federal estate tax.
Maine Estate Tax Return 2023 99 For estates of decedents dying during calendar year 2023. Form 706ME *1410000* This return is due nine months after the date of death. Check here if this is an amended return. STEP 1 - Decedent and Personal Representative Information. 2023. Form 706ME, Page 3. Decedent’s SSN: 99. *1410002*
Maine Inheritance Laws: What You Should Know. In this detailed guide of Maine inheritance laws, we break down intestate succession, probate, taxes, what makes a will valid and more.
Certificate of Discharge of Estate Tax Lien. Included. Certificate of discharge of estate tax lien on tangible personal property (PDF) Certificate of Discharge of Estate Tax Lien (Tangible Personal Property) Included. Certificate of Discharge of Personal Representative Liability. Application for Discharge of Personal Liability for Personal ...
The Maine estate tax applies to estates worth more than $6.8 million in 2024. Its estate tax rates range from 8% to 12%. Learn more here.
Federal estate taxes apply to estates worth more than $13.61 million as of 2024. Tax rates range from 18% to 40%. There is no federal inheritance tax. The following table lists federal estate...
A Maine estate tax return must be fi led if: a federal estate tax return is required to be fi led; the Maine QTIP election (Form 706ME, line 2) is greater than zero; or. the adjusted federal gross estate* exceeds $5.87 million. The Maine estate tax return is due nine months after the date of death.
Maine has specific inheritance tax laws that can affect the distribution of an estate. These taxes, also known as “estate taxes” or “death duties” are imposed on the transfer of assets from a deceased person to their heirs and beneficiaries.
In 2023, Maine increased its estate tax exemption from $6.01 million to $6.41 million, while Connecticut finished phasing in an increase to its exemption, matching the federal estate tax exemption, and simultaneously transitioned to the flat tax rate.
If you live in Maine and leave behind more than $6.8 million (for deaths occurring in 2024), your estate might have to pay the Maine estate tax. The Maine estate tax is separate from the federal estate tax , which is imposed only on estates worth more than $13.61 million (for deaths in 2024).