Maine

Maine’s Revenue Services administers all of the taxes for the state. These taxes include individual and business income taxes, sales and use tax, and various other taxes.

The general state sales tax rate for Maine is 5%. Lodging and prepared food is taxed at 7%, and short-term auto rentals at 10%.

Individual income tax is reported on Form 1040 ME, with a due date of April 15. If the 15th falls on a weekend or holiday, taxpayers have until the next business day to mail the return. The tax rates for individual income taxes range from 2% to 8.5%.

Corporations report their income tax using Form 1120 ME, while S corporations use Form 1120-S ME, both due by the fifteenth day of the third month following the end of their fiscal year. Partnerships report income using Form 1065 ME, with a due date of the fifteenth day of the fourth month after fiscal year-end.

Revenue is also generated for the state by imposing other taxes such as the fuel tax, property tax, blueberry tax, cigarette tax, insurance premium tax, potato tax, and tobacco tax.

For additional information on Maine taxes or to find forms, visit the Revenue Services website at www.maine.gov/revenue.

If you are looking for a CPA, Accounting Firm, or Financial Advisor to assist you with your Maine tax reporting, bookkeeping, or general accounting needs, you have come to the right place! Check out the CPA Search feature on this website.