Maine Estate Tax Statement of Value

ESTATE TAX STATEMENT OF VALUE FOR CERTAIN NONTAXABLE ESTATES

Use this form only if the federal gross estate plus Maine elective property plus taxable gifts made within one year of death does not exceed $5.8 million. Otherwise, file Form 706ME.

Estate of:

Residency Status: Resident Nonresident State of Residency (abbreviate)

Personal Representative or Person in Possession of Decedent’s Property:

Authorized Representative: If you would like to authorize a representative to act on your behalf, complete this section. Otherwise, sign and date at the bottom and mail to Maine Revenue Services.

Authorization is granted to the representative listed below to receive copies of confidential tax information related to this statement under 36 M.R.S. § 191 and to act as the estate’s representative before Maine Revenue Services.

I declare that the value of the Decedent’s Maine gross estate is $5.8 million or less. I understand that the Maine gross estate includes all property everywhere held by the decedent that is included in the federal gross estate plus Maine elective property and taxable gifts made within one year of death.

Under penalties of perjury, I declare that I have examined this statement and to the best of my knowledge and belief it is true, correct and complete. Declaration of preparer is based on all information of which preparer has any knowledge.

GENERAL INSTRUCTIONS

A worksheet is included in the Maine Estate Tax Guidance Document. This worksheet is designed to assist you in estimating the value of the decedent’s assets. If the estimated value of the estate is close to the $5.8 million taxable threshold, you may want to consider filing Form 706ME and/or seeking the advice of an estate tax professional. Note: The estate’s value must include all property in the U.S., even property that is located outside Maine.

An estate may be audited either before or after a lien discharge has been issued. The personal representative and beneficiaries are jointly liable for any tax due if MRS determines that a Maine estate tax liability exists.

SPECIFIC INSTRUCTIONS

Residency status. Check the box that corresponds to the residency of the decedent on the date of death. This may be different than the physical location of the decedent. If the decedent was not a resident of Maine, enter the state of residence.

Marital status. If the decedent was married or a widow/widower at the time of death, enter the name and social security number of the decedent’s spouse.

Personal representative or person in possession of decedent’s property. Enter in this section the information for the appointed personal representative of the decedent. A personal representative may also be called an executor. If more than one personal representative has been appointed, enter the information for one representative and attach a list containing information for all other representatives. If a personal representative has not been appointed, enter the information for one person on this statement and attach a list containing information for all other persons in possession of property of the decedent.

Authorized representative. Complete this section only if you elect to have someone represent the estate for you. Generally, this authorized representative would be a tax professional who you hire and would like to communicate with MRS on your behalf. This section is optional. If you do not want to name an authorized representative, skip this section and complete the signature area.

Mail this statement, along with a Certificate of Discharge of Estate Tax Lien to: MAINE REVENUE SERVICES
PO BOX 1064
AUGUSTA, ME 04332-1064