Maine § 5257. - Methods of accounting
Full text of Maine Maine Revised Statutes § 5257. — Methods of accounting, with citation guidance and answers to common questions.
§ 5257.. Methods of accounting
1. Same as federal. For purposes of the tax imposed by this Part, a taxpayer's method of accounting must be the same as that taxpayer's method of accounting for federal income tax purposes. If no method of accounting has been regularly used by the taxpayer, taxable income for purposes of this Part must be computed under a method that in the opinion of the assessor fairly reflects income.
2. Change of accounting methods. If a taxpayer's method of accounting is changed for federal income tax purposes, that taxpayer's method of accounting for purposes of this Part must similarly be changed.
Source: official Maine text · Last verified 2026-08-27
Frequently Asked Questions About Maine § 5257.
What does Maine Revised Statutes § 5257. cover?
Section 5257. ("Methods of accounting") 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 § 5257.?
A common citation format is "Maine Revised Statutes § 5257." (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 § 5257. 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.