18- 125 C.M.R. ch. 810, § .07
Current through 2024-51, December 18, 2024
A tax credit generated by a taxable corporation that is a member of an affiliated group engaged in a unitary business may be applied only against the Maine income tax liability of that corporation, and not against the Maine income tax liability of other members of the unitary business, unless otherwise specifically permitted by law. If a tax credit is permitted by law to be applied against the Maine income tax liability of two or more taxable corporations that are members of the unitary business, the credit must be apportioned to each taxable corporation using its separate apportionment factor, as calculated under section .05(B) above.
18- 125 C.M.R. ch. 810, § .07