1. Annual return. A mining company shall file, on or before the date the mining company's state income tax return is due to be filed, an annual return on a form specified by the assessor for each tax year.
[PL 2025, c. 469, §34 (AMD); PL 2025, c. 469, §44 (AFF).]
2. Form and contents. The return must indicate:
A. The tax due; [PL 1981, c. 711, §10 (NEW).]
B. The estimated tax payments made; and [PL 2025, c. 469, §34 (AMD); PL 2025, c. 469, §44 (AFF).]
C. [PL 2025, c. 469, §34 (RP); PL 2025, c. 469, §44 (AFF).]
D. Information relating to gross proceeds or other relevant information as the assessor may require. [PL 2025, c. 469, §34 (AMD); PL 2025, c. 469, §44 (AFF).]
[PL 2025, c. 469, §34 (AMD); PL 2025, c. 469, §44 (AFF).]
3. Payments. A mining company shall pay the tax due, less estimated tax payments, at the time its annual return is due without extensions.
[PL 2025, c. 469, §34 (AMD); PL 2025, c. 469, §44 (AFF).]
4. Extensions. The assessor may grant a reasonable extension of time for filing a return, declaration, statement or other document or payment of tax or estimated tax required by this chapter on such terms and conditions as the assessor may require. An extension for filing a return, declaration, statement or other document under this chapter may not exceed 8 months, except that, when a mining company is granted an extension of time within which to file a federal income tax return for the tax year, an extension to file the mining company's return with respect to the tax imposed by this chapter is automatically granted for an equivalent period from the date prescribed for filing the return under this chapter plus 30 days. If an extension of time is granted for payment of an amount of tax under this chapter, the assessor may require the taxpayer to furnish a bond or other security in an amount not exceeding twice the amount for which the extension of time for payment is granted, on terms and conditions as the assessor may require.
[PL 2025, c. 469, §34 (AMD); PL 2025, c. 469, §44 (AFF).]
5. Computation. In computing a mining company's tax, gross proceeds must be computed as if each mining property were a separate taxpayer. To the extent the mining property is located both in this State and in one or more other states or Canadian provinces, the gross proceeds must be allocated or apportioned in a reasonable manner between the proceeds derived from minerals mined in this State and the proceeds derived from minerals mined in the other jurisdictions. The assessor may distribute, apportion or allocate on a reasonable basis gross proceeds, deductions, credits or allowances between or among mining companies or mining properties, if such distribution, apportionment or allocation is necessary to prevent evasion of taxes imposed by this chapter, or to reasonably reflect the gross proceeds of any mining company from mining activity in the State. For purposes of this subsection, "mining property" has the same meaning as "property" as defined in Section 614 of the Code.
[PL 2025, c. 469, §34 (AMD); PL 2025, c. 469, §44 (AFF).]
6. Requirement to file amended Maine returns. The requirement to file an amended Maine return is governed by this subsection.
A. A taxpayer shall file an amended Maine return as required by this subsection when the taxpayer files an amended federal return affecting the taxpayer's liability under this chapter, the Internal Revenue Service changes or corrects any item affecting the taxpayer's liability under this chapter or for any reason there is a change or correction affecting the taxpayer's liability under this chapter. [PL 2025, c. 469, §34 (NEW); PL 2025, c. 469, §44 (AFF).]
B. The amended Maine return required pursuant to paragraph A must be filed within 180 days from the final determination date of the change or correction or the filing of the amended federal return. For purposes of this paragraph, "final determination date" means, when the taxpayer files an amended federal return affecting the taxpayer's liability under this chapter, the date on which the earliest of the following events occurs with respect to a taxable year for federal income tax purposes:
(1) The taxpayer has made payment of an additional income tax liability resulting from a federal audit, the taxpayer has not filed a petition for redetermination or claim for refund for the portions of the audit for which payment was made and the time for filing a petition for redetermination or refund claim has expired;
(2) The taxpayer receives a refund from the United States Treasury that resulted from a federal audit;
(3) The taxpayer signs federal Internal Revenue Service Form 870-AD or another Internal Revenue Service form consenting to a deficiency or accepting an overassessment;
(4) The taxpayer's time for filing a petition for redetermination with the United States Tax Court expires;
(5) The taxpayer and the Internal Revenue Service enter into a closing agreement;
(6) A decision from the United States Tax Court, a United States District Court, a federal court of appeals, the United States Court of Federal Claims or the United States Supreme Court becomes final; and
(7) The taxpayer files an amended return or similar report pursuant to the Code, Section 6225(c). [PL 2025, c. 469, §34 (NEW); PL 2025, c. 469, §44 (AFF).]
C. The amended Maine return filed pursuant to this subsection must indicate the change or correction and the reason for that change or correction. The amended return constitutes an admission as to the correctness of the change unless the taxpayer includes with the return a written explanation of the reason the change or correction is erroneous. If the taxpayer files an amended federal return, a copy of the amended federal return must be attached to the amended Maine return under this chapter. [PL 2025, c. 469, §34 (NEW); PL 2025, c. 469, §44 (AFF).]
D. The assessor may require additional information to be filed with the amended Maine return filed pursuant to this subsection. The assessor may prescribe exceptions to the requirements of this subsection. [PL 2025, c. 469, §34 (NEW); PL 2025, c. 469, §44 (AFF).]
[PL 2025, c. 469, §34 (NEW); PL 2025, c. 469, §44 (AFF).]
