LAW WITHOUT
GOVERNOR'S CHAPTER
SIGNATURE
627
APRIL 16, 2024 PUBLIC LAW
STATE OF MAINE
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IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-FOUR
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H.P. 851 - L.D. 1337
An Act to Require a Biennial Report on the Corporate Income Tax to the
Joint Standing Committee Having Jurisdiction over Taxation Matters
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 36 MRSA §5202-E is enacted to read:
§5202-E. Report on corporate income tax data reporting
1. Report. Beginning January 31, 2025 and biennially thereafter, the bureau shall,
consistent with section 191, provide a report on corporate income tax to the joint standing
committee of the Legislature having jurisdiction over taxation matters. The report must
include the following:
A. Of the 50 largest for-profit employers in the State as measured by payroll
withholding, for which there is complete data, the number that paid zero state corporate
income tax in the 4 most recent tax years or received a refunded portion of a refundable
credit;
B. The number of corporations that filed corporate income taxes that reported over
$50,000,000, over $100,000,000, over $250,000,000 and over $1,000,000,000 in
federal taxable income for the 2 previous tax years;
C. For each income range identified in paragraph B:
(1) The total income reported;
(2) The total income apportioned to the State; and
(3) The number of filers that reported zero or less total corporate income tax due
for the 4 most recent tax years for which there is complete data;
D. The percentage of corporations that filed corporate income taxes doing business in
the State that reported total corporate income tax due of zero or less for the 4 most
recent tax years for which there is complete data; and
E. The percentage of corporations that filed corporate income taxes doing business in
the State that reported federal taxable income of greater than zero and reported total
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 Maine corporate income tax due of zero or less for the 4 most recent tax years for which
there is complete data; and
F. The percentage of corporations that filed corporate income taxes doing business in
the State that reported federal taxable income of greater than zero and reported zero
income apportioned to the State of adjusted federal income.
For the purposes of this section, "corporate" and "corporation" include C corporations and
limited liability companies taxed as corporations in the State.
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