An Act To Provide Relief from Estate Tax Valuation Requirements for Surviving Spouses

Sec. 1. 36 MRSA §4080  is enacted to read:

§ 4080.  Valuation determination; surviving spouse

A surviving spouse may request that the assessor determine whether a valuation of an estate is necessary to determine whether a tax is owed under this chapter. If the assessor determines based on information provided by the surviving spouse that there is no reasonable possibility of a tax being required under this chapter, the assessor shall waive the requirement of a valuation of the estate.

summary

This bill requires the State Tax Assessor to waive the requirement that a surviving spouse provide a valuation of an estate if there is no reasonable likelihood that an estate tax is owed on the estate.