Maine § 36 §5219-NN Maine capital investment credit for 2015 and after

Maine Statutes

§ 36 §5219-NN — Maine capital investment credit for 2015 and after

Maine § 36 §5219-NN

Title 36TAXATION

Part 8INCOME TAXES

Ch. 822TAX CREDITS

This text of Maine § 36 §5219-NN (Maine capital investment credit for 2015 and after) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 36, § 36 §5219-NN (2026).

Text

1.Credit allowed. A taxpayer that claims a depreciation deduction under the Code, Section 168(k) for property placed in service in the State during a taxable year that begins on or after January 1, 2015 and before January 1, 2020 is allowed a credit as follows: 1-A. Credit allowed; on or after January 1, 2020 and before January 1, 2025. A taxpayer that claims a depreciation deduction under the Code, Section 168(k) for property placed in service in the State during a taxable year that begins on or after January 1, 2020 and before January 1, 2025 is allowed a credit as follows:

2.Certain property excluded. The following property is not eligible for the credit under this section:

3.Limitations; carry-forward. The credit allowed under subsections 1 and 1‑A may not reduce the tax otherwise d

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1.
Credit allowed.
A taxpayer that claims a depreciation deduction under the Code, Section 168(k) for property placed in service in the State during a taxable year that begins on or after January 1, 2015 and before January 1, 2020 is allowed a credit as follows:
1-A.
Credit allowed; on or after January 1, 2020 and before January 1, 2025.
A taxpayer that claims a depreciation deduction under the Code, Section 168(k) for property placed in service in the State during a taxable year that begins on or after January 1, 2020 and before January 1, 2025 is allowed a credit as follows:
2.
Certain property excluded.
The following property is not eligible for the credit under this section:
3.
Limitations; carry-forward.
The credit allowed under subsections 1 and 1‑A may not reduce the tax otherwise due under this Part to less than zero. Any unused portion of the credit may be carried forward to the following year or years for a period not to exceed 20 years.
4.
Recapture.
The credit allowed under this section must be fully recaptured to the extent claimed by the taxpayer if the property forming the basis of the credit is not used in the State for the entire 12-month period following the date it is placed in service in the State. The credit must be recaptured by filing an amended return in accordance with section 5227‑A for the tax year in which that property was used to calculate the credit under this section. The amended return must reflect the credit disallowed and the income modifications required by section 5122, subsection 1, paragraph KK and section 5200‑A, subsection 1, paragraph CC with respect to that property.

Legislative History

PL 2015, c. 388, Pt. A, §15 (NEW). PL 2015, c. 490, §8 (NEW). PL 2015, c. 503, §1 (NEW). PL 2017, c. 211, Pt. D, §8 (RPR). PL 2017, c. 211, Pt. D, §14 (AFF). PL 2019, c. 527, Pt. A, §§5-7 (AMD). PL 2021, c. 1, Pt. F, §§1-3 (AMD). PL 2023, c. 412, Pt. J, §12 (AMD).