Bill > LD2010

This bill updates Maine state tax law to reference the most recent version of the United States Internal Revenue Code (IRC) by changing the definition of "Code" in the state statutes to mean the IRC of 1986 as amended through December 31, 2025, instead of the previous reference date of December 31, 2024. The bill applies to tax years beginning on or after January 1, 2025, and can also apply to prior tax years as specifically provided by the federal tax code. The legislation is considered an emergency measure, which means it will take effect immediately upon approval, and is intended to ensure efficient administration of state income taxes by keeping state tax law aligned with current federal tax regulations. This type of update is routine and helps prevent processing delays and confusion for taxpayers by maintaining consistency between state and federal tax code references.

Budget and Finance

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=2010&snum=132