Maine § 36 §5257 Methods of accounting

Maine Statutes

§ 36 §5257 — Methods of accounting

Maine § 36 §5257

Title 36TAXATION

Part 8INCOME TAXES

Ch. 829ACCOUNTING PERIODS AND METHODS OF ACCOUNTING

This text of Maine § 36 §5257 (Methods of accounting) 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 §5257 (2026).

Text

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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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.