Form 706ME Worksheet D - Credit for Estate Tax Paid to Other Jurisdictions by Resident Estates - Maine

What Is Form 706ME?

This is a legal form that was released by the Maine Department of Administrative and Financial Services - a government authority operating within Maine. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 706ME?
A: Form 706ME is a worksheet used by resident estates in Maine to claim a credit for estate tax paid to other jurisdictions.

Q: Who can use Form 706ME?
A: Only resident estates in Maine can use Form 706ME.

Q: What is the purpose of Form 706ME Worksheet D?
A: Worksheet D on Form 706ME is specifically used to calculate the credit for estate tax paid to other jurisdictions.

Q: What is the credit for estate tax paid to other jurisdictions?
A: The credit for estate tax paid to other jurisdictions allows resident estates in Maine to receive a credit for any estate tax paid to another state or country.

Q: How is the credit calculated?
A: The credit is calculated by determining the ratio of Maine taxable estate to the total taxable estate and applying that ratio to the estate tax paid to the other jurisdiction.

Q: Are there any limitations on the credit?
A: Yes, the credit cannot exceed the Maine estate tax liability and is subject to certain limitations outlined in the instructions for Form 706ME.