Maine Estate Tax Statement of Value for Lien Discharge

Estate Tax Statement of Value for Lien Discharge
2024 Form 700 SOV
Clear

Print

2024

700-SOV - Maine Estate Tax
Statement of Value

99

Use only if the estate is not required to file a federal estate tax return and the estate is a nontaxable
estate requesting a discharge of an estate tax lien on Maine property. Otherwise, file Form 706ME.

*1311000*

Estate of:

First Name

M.I.

Last Name

Social Security Number (SSN):
Residency Status:

Resident

Date of Death:
MM
State of Residency (abbreviate)

Nonresident

If married or widow(er), enter spouse’s name:
Personal Representative or Person in Possession of Decedent’s Property:

First Name

SSN

M.I.

DD

YYYY

Spouse’s
SSN:

Last Name

Telephone Number

Fax Number

Street Address

City/Town

State

ZIP Code

Email Address

Authorized Representative: If you would like to authorize a representative to act on your behalf, complete this section. Otherwise,
sign and date at the bottom and mail to Maine Revenue Services.
Authorization is granted to the representative listed below to receive copies of confidential tax information related to this statement
under 36 M.R.S. § 191 and to act as the estate’s representative before Maine Revenue Services.

Firm Name (or preparer, if self-employed)

Contact Person: First Name

M.I.

Last Name

Contact Person Mailing Address

City/Town

State

ZIP Code

Email Address

Telephone Number

Fax Number

I declare that the value of the Decedent’s Maine gross estate is $6.8 million or less. I understand that the Maine gross estate includes all property
everywhere held by the decedent that is included in the federal gross estate plus Maine elective property and taxable gifts made within one year of death.
Under penalties of perjury, I declare that I have examined this statement and to the best of my knowledge and belief it is true, correct and complete.
Declaration of preparer is based on all information of which preparer has any knowledge.

Signature of Personal Representative or Person in Possession

Signature of Preparer

Firm Name (or preparer if self-employed)

Date signed

Preparer’s SSN or PTIN

Preparer Address

Date signed

Preparer Telephone Number

ESTATE TAX STATEMENT OF VALUE
FOR CERTAIN NONTAXABLE ESTATES
Maine Tax Portal. File Form 700-SOV and the Certificate of
Discharge of Estate Tax Lien electronically using the Maine
Tax Portal at revenue.maine.gov.

The Maine Tax Portal eliminates the need to file a paper
form 700-SOV.
If you do not have online access, you may mail this statement,
along with a Certificate of Discharge of Estate Tax Lien to:

The Maine Tax Portal is an online application that allows
Maine taxpayers to file tax returns and make payments online
quickly and easily.

MAINE REVENUE SERVICES
P.O. BOX 1064
AUGUSTA, ME 04332-1064

Maine tax law imposes an estate tax on the transfer of
assets at the time of a person’s death. While most estates
are not taxable, Maine law places an automatic lien on the
Maine property of all decedents. This statement is designed
for certain nontaxable estates to request a release of the
automatic lien.

contains Maine qualified terminable interest property, Form
706ME must be filed. Attach a copy of this statement to a
certificate of lien discharge to request a release of the lien
on the decedent’s property.* For more information on estate
tax, including the Maine law and a guidance document titled
Maine Estate Tax For Deaths Occurring After 2012, see the
estate tax page on the MRS website at www.maine.gov/
revenue/taxes/income-estate-tax/estate-tax-706me.

You can use this statement for 2024 decedents if the value
of the property in the federal gross estate plus taxable gifts
made by the decedent within one year of death plus Maine
elective property is $6,800,000 or less, and if a federal
estate tax return is not required. The gross estate includes
all property everywhere held by the decedent. If the estate

*Submit only one 700-SOV statement for the estate, even if
completing and attaching multiple Certificates of Discharge
of Estate Tax Lien.

GENERAL INSTRUCTIONS
A worksheet is included in the Maine Estate Tax Guidance
Document. This worksheet is designed to assist you in
estimating the value of the decedent’s assets. If the estimated
value of the estate is close to the $6.8 million taxable
threshold, you may want to consider filing Form 706ME and/
or seeking the advice of an estate tax professional.

Note: The estate’s value must include all property, even
property that is located outside Maine.
An estate may be audited either before or after a lien
discharge has been issued. The personal representative
and beneficiaries are jointly liable for any tax due if MRS
determines that a Maine estate tax liability exists.

SPECIFIC INSTRUCTIONS
Residency status. Check the box that corresponds to the
residency of the decedent on the date of death. This may
be different than the physical location of the decedent. If
the decedent was not a resident of Maine, enter the state of
residence.

If more than one personal representative has been appointed,
enter the information for one representative and attach a
list containing information for all other representatives. If a
personal representative has not been appointed, enter the
information for one person on this statement and attach a list
containing information for all other persons in possession of
property of the decedent.

Marital status. If the decedent was married or a widow/
widower at the time of death, enter the name and social
security number of the decedent’s spouse.

Authorized representative. Complete this section only if
you elect to have someone represent the estate for you.
Generally, this authorized representative would be a tax
professional who you hire and would like to communicate
with MRS on your behalf. This section is optional. If you do
not want to name an authorized representative, skip this
section and complete the signature area.

Personal representative or person in possession of
decedent’s property. Enter in this section the information
for the appointed personal representative of the decedent.
A personal representative may also be called an executor.
2

Revised: December 2023