§ 36 §2621-A — Definitions

Maine § 36 §2621-A

• Jurisdiction: Maine
• Title 36: TAXATION
• Part 4: BUSINESS TAXES
• Ch. 361: RAILROAD COMPANIES

Text

As used in this chapter, unless the context indicates otherwise, the following terms have the following meanings.
1.
Net railway operating income.
"Net railway operating income" means railway operating revenues, including debits and credits arising from equipment rents and joint facility rents, less railway operating expenses, tax accruals and uncollectible railway revenues.
2.
Operating investment.
"Operating investment" means investment in railway property used in transportation service, less depreciation, plus cash, including temporary cash investments and special deposits, plus material and supplies. For purposes of railroad excise taxes payable in 1986, based upon operations for the calendar year 1985, "operating investment" also includes freight car operating leases of 10 years or more, valued at cost less straight-line depreciation over the initial term of the lease.
3.
Maine capital tax credit.
"Maine capital tax credit" is a credit against the tax imposed by section 2624.

Legislative History

PL 1983, c. 571, §5 (NEW). PL 1983, c. 593, §1 (AMD). PL 1985, c. 477, §2 (AMD). PL 1989, c. 586, §1 (AMD). PL 1989, c. 702, §E19 (AMD). PL 1989, c. 875, §E59 (AMD). PL 1991, c. 528, §N3 (AMD). PL 1991, c. 528, §§N4,RRR (AFF). PL 1991, c. 591, §N3 (AMD). PL 1991, c. 591, §N4 (AFF). PL 2003, c. 498, §8 (AMD). PL 2003, c. 498, §12 (AFF).