Maine § 13080-P. - Definitions
Full text of Maine Maine Revised Statutes § 13080-P. — Definitions, with citation guidance and answers to common questions.
§ 13080-P.. Definitions
As used in this article, unless the context otherwise indicates, the following terms have the following meanings. [PL 1995, c. 644, §2 (NEW).]
1. Affiliated business. "Affiliated business" means 2 businesses exhibiting either of the following relationships:
A. One business owns 50% or more of the stock of the other business or owns a controlling interest in the other; or [PL 1995, c. 644, §2 (NEW).]
B. Fifty percent of the stock of each business or a controlling interest in each business is directly or indirectly owned by a common owner or owners. [PL 1995, c. 644, §2 (NEW).]
2. Affiliated group. "Affiliated group" means a qualified business and its corresponding affiliated businesses.
3. Assessor. "Assessor" means the State Tax Assessor.
4. Authority. "Authority" means the Loring Development Authority of Maine.
5. Base area. "Base area" means the area within the geographic boundaries of Loring Air Force Base, as defined in section 13080‑A.
6. Base level of employment. "Base level of employment" means the total employment in the base area as of July 1, 1996.
7. Employment tax increment. "Employment tax increment" means that level of state income withholding taxes attributed to employees employed within the base area, adjusted pursuant to section 13080‑R.
8. Fund. "Fund" means the Loring Job Increment Financing Fund.
9. Gross employment tax increment. "Gross employment tax increment" means that level of state income withholding taxes attributed to employees employed within the base area that is greater than the base level of employment.
10. Successor business. "Successor business" means a business that has acquired the organization, trade or business, or 50% or more of the assets of the organization, trade or business, of another taxpayer.
Frequently Asked Questions About Maine § 13080-P.
What does Maine Revised Statutes § 13080-P. cover?
Section 13080-P. ("Definitions") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 13080-P.?
A common citation format is "Maine Revised Statutes § 13080-P." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 13080-P. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.