[2009, c. 654, §1(RPR).]
[2003, c. 246, §3(RP).]
For purposes of this subsection, annual income is determined separately for residential property owners and commercial establishments. For a residential property owner, including a trust, "annual income" means the sum of the taxable incomes of each owner of the property if it is jointly owned or of each beneficiary and grantor if the property owner is a trust for the previous year as listed on the relevant federal income tax returns for the previous year. For a commercial establishment, "annual income" means taxable income or ordinary business income for the previous year as listed on the relevant federal income tax return plus any depreciation or other noncash expense that was deducted to compute taxable or ordinary business income on that return. A rental property must be considered a commercial establishment or as contributing to annual income depending on how it is reported on the overboard discharge owners federal income tax return from the previous year.
[2009, c. 654, §2(AMD).]
[1989, c. 442, §1(NEW); 1989, c. 890, Pt. A, §40(AFF); 1989, c. 890, Pt. B, §25(AMD).]
[2003, c. 246, §5(RPR).]
38 M.R.S. § 411-A