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A new report from the Tax Foundation ranks Maine in the middle of the pack for its tax environment for both mature and new businesses. Maine ranks 27th for mature businesses and 20th for new operations.
The state performed well, ranking No. 6, for established call center operations in part due to its low 5% sales tax and apportionment formula that makes income tax costs low for call centers. The state also ranked No. 9 for both mature R&D operations and new retail stores, which had tax burdens 35% and 23% below national averages, respectively. However, Maine ranked near the bottom for established manufacturing firms because of a higher income tax rate and property tax burden. The state ranked 45th for mature capital-intensive manufacturing firms and 41st for labor-intensive firms.
Maine's corporate income tax rate of nearly 9% also contributed to the state having the second-worst corporate tax burden.
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Learn MoreWork for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Learn MoreFew people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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