LD48

Updates references to the United States Internal Revenue Code of 1986 in Maine Revised Statutes to align with amendments through December 31, 2024.

This bill revises the Maine Revised Statutes to ensure that references to the United States Internal Revenue Code of 1986 are updated to include amendments through December 31, 2024. The changes apply to tax years beginning on or after January 1, 2024, and to any prior tax year as specified by the United States Internal Revenue Code of 1986. This update is necessary to avoid delays in processing income tax returns for 2024 and to maintain the efficient administration of state income tax and other state taxes.