Maine Governor Janet Mills submitted a supplemental budget, as amended by a change package submitted on January 25, 2021. The supplemental budget is notable for its retroactive conformity to the Internal Revenue Code (IRC) as...more
1/27/2021
/ CARES Act ,
Charitable Deductions ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
GILTI tax ,
Governor Mills ,
Internal Revenue Code (IRC) ,
Loan Forgiveness ,
Net Operating Losses ,
Paycheck Protection Program (PPP) ,
Tax Cuts and Jobs Act
Maine Revenue Services (MRS) issued guidance and amended the Maine corporate income tax return instructions last week to explain Maine’s conformity to federal taxation of deferred foreign income, also called deemed...more
Maine Revenue Services (MRS) issued guidance late last week responding to the state’s recently-enacted tax conformity legislation. ...more
10/2/2018
/ Income Taxes ,
Internal Revenue Code (IRC) ,
Local Taxes ,
New Guidance ,
SALT ,
State and Local Government ,
State Taxes ,
Tax Liability ,
Tax Planning ,
Tax Reform ,
Tax Returns
Three business-friendly tax bills have become law in New Hampshire. Each bill will result in tax reductions for those able to take advantage of them.
The New Hampshire Business Profits Tax generally “piggybacks” on the...more
The Maine Legislature ended its tumultuous session on July 16, 2015. After an advisory opinion by the Maine Supreme Court, we now know which bills actually became law. As usual, a number of significant tax issues were...more
8/24/2015
/ Cable Television Providers ,
Estate Tax ,
Governor LePage ,
Homestead Exemption ,
Hospice ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Property Tax ,
Sales Tax ,
Special Needs Adults ,
Tax Exemptions ,
Tax Rates ,
Telecommunications