Form REW-1-1040 Real Estate Withholding Return for Transfer of Real Property - Maine

What Is Form REW-1-1040?

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 REW-1-1040?
A: Form REW-1-1040 is the Real Estate Withholding Return for Transfer of Real Property in Maine.

Q: Who needs to file Form REW-1-1040?
A: Anyone who is transferring real property in Maine and is subject to withholding tax needs to file Form REW-1-1040.

Q: What is the purpose of Form REW-1-1040?
A: The purpose of Form REW-1-1040 is to report and remit the withholding tax on the transfer of real property in Maine.

Q: When is Form REW-1-1040 due?
A: Form REW-1-1040 is due on or before the date of transfer of the property.

Q: Is Form REW-1-1040 required for all real property transfers in Maine?
A: No, Form REW-1-1040 is only required for transfers of real property subject to withholding tax.

Q: What is the withholding tax rate for real property transfers in Maine?
A: The withholding tax rate for real property transfers in Maine is 2.5% of the total value of the property.

Q: Are there any exemptions from the withholding tax on real property transfers in Maine?
A: Yes, there are certain exemptions from the withholding tax on real property transfers in Maine. Consult the instructions for Form REW-1-1040 for more information.