PUBLIC Law Chapter 467

	2.__Reconciliation return required.__On or before October 15,
2003 and on or before the 15th day of the 4th month following the
end of each facility fiscal year ending after October 15, 2003,
each person subject in that state fiscal year or facility fiscal
year to the tax imposed by this chapter shall submit a
reconciliation return on a form prescribed and furnished by the
assessor.__The reconciliation return must account for any
adjustments necessary to reconcile the annual tax for a prior
state fiscal year or facility fiscal year estimated pursuant to
subsection 1 with the person's correct tax liability, and the
person shall submit with the reconciliation return payment of any
amount due for the prior state fiscal year or facility fiscal
year or portion of any prior state fiscal year or facility fiscal
year.__The taxpayer may also claim on the reconciliation return a
refund or credit for any overpayment of tax.__The determination
of amounts due or overpaid is calculated by comparing the tax
originally estimated and paid in the prior state fiscal year or
facility fiscal year or years with the tax imposed by section
2872 on taxable revenues accrued for that period, together with
any audit adjustments or corrections of which the person has
knowledge on or before the 15th day of the month immediately
preceding the due date of the return.__The obligation to file a
reconciliation return with respect to a particular state fiscal
year or facility fiscal year continues until the relevant taxable
revenues for that period have been finally determined and are no
longer open to audit adjustment or correction and the person has
reported those revenues on a reconciliation return.

Sec. 8. 36 MRSA §2873, sub-§3, as enacted by PL 2001, c. 714, Pt. CC,
§3 and affected by §8, is amended to read:

3. Audit period to remain open; accrual of penalties and
interest. Notwithstanding any other provision of law, the tax
imposed against a person by section 2872 for any fiscal year
remains open to audit and further assessment by the assessor
until ~~the person's taxable revenues for that fiscal year have~~

~~been finally determined~~ completion of the audit of the Medicaid
cost report or reports for the fiscal year. Any underestimates
of tax liability reported and paid pursuant to subsection 1 are
subject to an assessment of interest at the rate provided in
section 186 from the date or dates of underpayment until payment
is made, unless the estimated tax liability was calculated by
~~applying the tax rates provided by section 2872 to the most~~
~~recent fiscal year for which relevant taxable revenues have been~~
~~finally determined~~ in compliance with the standards provided in
subsection 1, in which case no interest may accrue prior to the
date on which the reconciliation return for the year is due. Any
amount of tax that is reported on a reconciliation return
required by subsection 2 but not paid at the time the
reconciliation return is filed is subject to the accrual of

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