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Greatly reduce state taxes for up to ten years when your business creates net new, quality jobs in certain business sectors or moves existing jobs in those sectors to Maine.
Receive a payment of up to 3.6% of the income of your new, well-compensated employees for 10 years, depending on your location.
Reduce capital gains taxes on your investments in specific underserved communities in Maine through this federal tax incentive program.
Leverage new property taxes generated by a specific development to finance public or private projects. Municipalities create MTIF districts, often in partnership with businesses.
Tax Credits and Exemptions
Receive up to a 100% tax exemption from personal property taxes on your eligible business equipment.
Tax credits are available for R&D expenses and the production of renewable chemicals and biofuels. Maine state sales tax exemptions are available for manufacturing, R&D, custom computer programming, fuel & electricity, commercial agricultural and aquacultural production, and biotechnology. Renewable energy equipment is exempt from local property tax.
Income tax credit for placing depreciable property in service at your business in Maine during the tax year.
Income tax credit for your investment in a Maine business as an individual or venture capital fund.
Reimburses student loan payments for college graduates who live and work in Maine. The tax credit is also available to businesses that make student loan payments for their employees.
Credit against your income or Social Security tax for hiring members of a specified target group at your business.
State tax credit for your equity investment in a Community Development Entity.
State tax credit for your rehabilitation of a historic structure, tied to the federal Historic Rehabilitation Credit.