Maine Statutes
§ 36 §5257 — Methods of accounting
1.Same as federal.
For purposes of the tax imposed by this Part, a taxpayer's method of accounting must be the same as that taxpayer's method of accounting for federal income tax purposes. If no method of accounting has been regularly used by the taxpayer, taxable income for purposes of this Part must be computed under a method that in the opinion of the assessor fairly reflects income.
2.Change of accounting methods.
If a taxpayer's method of accounting is changed for federal income tax purposes, that taxpayer's method of accounting for purposes of this Part must similarly be changed.
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Maine § 36 §5257 (Methods of accounting) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
P&SL 1969, c. 154, §F/§1 (NEW). RR 2025, c. 1, Pt. F, §29 (COR).
Nearby Sections
15
§ 36 §52
State tax assessor; duties§ 36 §5200
Imposition and rate of tax§ 36 §5200-A
Modifications§ 36 §5200-B
Corporate income tax nexus§ 36 §5201
Alternative tax computation§ 36 §5202-A
Small business investment companies exempt§ 36 §5202-B
Depreciation option§ 36 §5202-C
Separate accounting required in certain cases§ 36 §5202-E
Report on corporate income tax data reporting§ 36 §5203
Minimum tax for tax preferences§ 36 §5203-A
State minimum tax§ 36 §5203-B
Corporate income tax surcharge§ 36 §5203-C
State minimum tax