Tiedemann v. Johnson

POMEROY, Justice.

For our consideration is a cause before us on report pursuant to Rule 72(b) of the Maine Rules of Civil Procedure. A decision of the cause requires us to interpret the Maine Income Tax Law, (36 M.R.S.A. § 5101 et seq.)

The questions presented for our decision are appropriately formulated as:

I. Whether, in computing taxable income under the Maine Income Tax Law, income received by installment payments subsequent to the effective date of the Tax Law, but arising from a sale of real estate completed prior to that date, may be subjected to taxation, and

II. Whether such taxation,…