Maine Revenue Services Releases Form RETTD, Real Estate Transfer Tax Declaration, Instructions

Maine Revenue Services Jan. 4 released Form RETTD, Real Estate Transfer Tax Declaration, with line-by-line instructions for property and excise tax purposes. Taxpayers must file the form with the county Registry of Deeds when the accompanying deed is recorded. The Registry of Deeds collects a tax based on the value of the transferred property. The tax is $2.20 for each $500 of value and is imposed half on the purchaser and half on the seller. Taxpayers must complete a supplemental form if the transferred property is in more than one municipality or if there are more than two sellers or ...