Maine § 5202-C. - Separate accounting required in certain cases
Full text of Maine Maine Revised Statutes § 5202-C. — Separate accounting required in certain cases, with citation guidance and answers to common questions.
§ 5202-C.. Separate accounting required in certain cases
A corporation that is subject to tax under chapter 357 or that would be subject to tax under chapter 357 if the insurance business conducted by such corporation were conducted in this State shall separately account to the State Tax Assessor for income received from a health maintenance organization to the extent operated under authority of a certificate issued by the Superintendent of Insurance pursuant to Title 24‑A, section 4204, except income from a health maintenance organization that is separately organized and subject to income taxation. The assessor may distribute, apportion or allocate gross income, deductions, credits, allowances or assets between or among related entities and operating divisions if the assessor determines such action to be necessary in order to prevent evasion of taxes or to properly reflect earned income. [PL 2001, c. 439, Pt. D, §2 (NEW); PL 2001, c. 439, Pt. D, §9 (AFF).]
Frequently Asked Questions About Maine § 5202-C.
What does Maine Revised Statutes § 5202-C. cover?
Section 5202-C. ("Separate accounting required in certain cases") 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 § 5202-C.?
A common citation format is "Maine Revised Statutes § 5202-C." (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 § 5202-C. 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.