Tax Reform

Tax Reform Update - November 10, 2009. The Maine Secretary of State, Matt Dunlap, has determined that a sufficient number of signatures were submitted to place the question of whether to approve Public Law 2009, Chapter 382, "An Act To Implement Tax Relief and Tax Reform," on the June 8, 2010 ballot. As a result of that determination, the law will not go into effect on January 1, 2010

Historic Bill Passed

The Maine Legislature has done something extraordinary. After years of work (and many failed attempts), Maine passed the first comprehensive overhaul to its tax code in 40 years. Hailed by the Wall Street Journal as the “Maine Miracle,” the new tax plan is designed to spur economic development, stabilize state revenues, and provide some direct tax relief. The plan has been enthusiastically supported by all of Maine’s major newspapers, Maine’s chapter of American Association of Retired Persons (AARP), Maine Municipal Association, and by chambers of commerce and business leaders across the state. ... read more.

What is Tax Reform and why is it needed (20 minute powerpoint presentation)
Summary of Enacted Bill
Summary of New Credit System
To see the potential impact of the tax reform on you, see the Maine Revenue Services informational calculator
Scenarios (Impact on various persons)
An independent CPA’s view Tax Reform
MYTHs & TRUTHs
Fact Check: A point-by-point response to calculations by Albert DiMillo
Editorials and Columns
List of Supporting Groups