Maine § 5242. - Information returns
Full text of Maine Maine Revised Statutes § 5242. — Information returns, with citation guidance and answers to common questions.
§ 5242.. Information returns
The State Tax Assessor may require returns of information to be made and filed on or before January 31st of each year by a person making payment or crediting in a calendar year the amounts of $600 or more, or $10 or more in the case of interest or dividends, to a person who may be subject to the tax imposed under this Part. The returns may be required of a person, including lessees or mortgagors of real or personal property, fiduciaries, employers and all officers and employees of this State, or of a municipal corporation or political subdivision of this State, having the control, receipt, custody, disposal or payment of dividends, interest, rents, salaries, wages, premiums, annuities, compensations, remunerations, emoluments or other fixed or determinable gains, profits or income, except interest coupons payable to bearer. A duplicate of the statement as to tax withheld on wages, required to be furnished by an employer to an employee, constitutes the return of information required to be made under this section with respect to those wages. [PL 2017, c. 211, Pt. D, §12 (AMD); PL 2017, c. 211, Pt. D, §14 (AFF).]
A person who is required by the assessor to file a return of information in accordance with this section on or after January 31, 2022 and who fails to do so, or who willfully files a false or fraudulent return of information, is subject to a penalty of $50 for each such failure. [PL 2023, c. 523, Pt. B, §6 (AMD).]
Frequently Asked Questions About Maine § 5242.
What does Maine Revised Statutes § 5242. cover?
Section 5242. ("Information returns") 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 § 5242.?
A common citation format is "Maine Revised Statutes § 5242." (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 § 5242. 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.