Controlling Interest Transfer Tax Return / Declaration of Value - Maine

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Controlling Interest Transfer Tax Return / Declaration of Value - Maine

Controlling Interest Transfer Tax Return/Declaration of Value is a legal document that was released by the Maine Department of Administrative and Financial Services - a government authority operating within Maine.

FAQ

Q: What is the Controlling Interest Transfer Tax Return/Declaration of Value?
A: The Controlling Interest Transfer Tax Return/Declaration of Value is a tax document that needs to be filed when transferring controlling interest in real estate properties in Maine.

Q: Who needs to file the Controlling Interest Transfer Tax Return/Declaration of Value?
A: The person or entity transferring the controlling interest in a real estate property in Maine needs to file the Controlling Interest Transfer Tax Return/Declaration of Value.

Q: What is considered a controlling interest in a real estate property?
A: A controlling interest in a real estate property is when an individual or entity acquires 50% or more of the voting stock, membership interests, or beneficial interests in a property-holding entity.

Q: What is the purpose of the Controlling Interest Transfer Tax Return/Declaration of Value?
A: The purpose of the Controlling Interest Transfer Tax Return/Declaration of Value is to determine the fair market value of the real estate property and calculate the transfer tax.

Q: How is the fair market value determined for the Controlling Interest Transfer Tax Return/Declaration of Value?
A: The fair market value is determined based on the sale price, assessed value, or professional appraisal of the real estate property.

Q: When should the Controlling Interest Transfer Tax Return/Declaration of Value be filed?
A: The Controlling Interest Transfer Tax Return/Declaration of Value should be filed within 30 days from the date of the transfer of the controlling interest.

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Form Details:

  • Released on January 1, 2019;
  • The latest edition currently provided by the Maine Department of Administrative and Financial Services;
  • Ready to use and print;
  • Easy to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of the form by clicking the link below or browse more documents and templates provided by the Maine Department of Administrative and Financial Services.

Download Controlling Interest Transfer Tax Return / Declaration of Value - Maine

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