On June 30, 2021, Maine Revenue Services (MRS) published a Tax Alert describing changes to COVID-19 tax relief programs following the end of Maine’s state of civil emergency, also on June 30. Below is a summary of the key...more
On October 16, 2020, Maine Governor Janet Mills issued a press release addressing several COVID-19-related tax issues, and Maine Revenue Services today issued guidance providing further details....more
10/20/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Corporate Taxes ,
Double Taxation ,
Filing Deadlines ,
Governor Mills ,
Income Taxes ,
State of Emergency ,
State Taxes ,
Tax Credits ,
Withholding Tax
On January 12, 2020, Governor Janet Mills signed L.D. 1645, establishing a Maine affordable housing tax credit (AHTC). The Maine State Housing Authority (MaineHousing) will be tasked with administering and allocating $80...more
2/18/2020
/ Affordable Housing ,
Critical Infrastructure Sectors ,
Homeless Issues ,
Housing Market ,
Low-Income Issues ,
New Legislation ,
Real Estate Development ,
Rental Property ,
Rural Areas ,
Rural Development ,
State and Local Government ,
Tax Credits ,
Urban Planning & Development
In a special session, the Maine legislature passed tax conformity legislation on August 30, 2018, after having failed to pass this legislation prior to its spring adjournment. The legislation is now on the Governor’s desk...more
9/5/2018
/ Corporate Taxes ,
Estate Tax ,
GILTI tax ,
Income Taxes ,
Legislative Agendas ,
Net Operating Losses ,
Pending Legislation ,
Personal Exemptions ,
Special Sessions ,
State and Local Government ,
Tax Code ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exemptions ,
Tax Liability ,
Trusts
In its August 2, 2018 decision, Goggin v. State Tax Assessor, 2018 ME 111, the Maine Supreme Judicial Court held that the Business and Consumer Court correctly denied Maine residents an individual income tax credit for the...more
The Supplemental Budget just released by the Legislature (LD 1843), if passed as written, may hurt Pine Tree Zone Business as well as businesses that engage in a substantial amount of research and development in Maine....more