The Quality child care investment credit. For tax years beginning on or after January 1, 2016, the quality child care investment credit is repealed except that unused credit amounts may be utilized to the fullest extent allowed by the carryforward provisions for the credit. 36 M.R.S. § 5219-Q(5)); LD 1019, PL 2015, c. 267, Pt. DD, § 30.
Please visit the Maine Revenue Service website: https://www.maine.gov/revenue/rules/legischange16.htm#individual, for all applicable changes for tax years beginning in 2016.
Child Care is a business. If you are considering starting a family child care home, child care center, or nursery school, you will not only need to prepare for providing care for children, but also for financial and business management.
Many organizations provide support to small businesses, sometimes at no or minimal cost. Contact them for more information about the services available:
- U.S. Small Business Administration
- Maine Small Business Administration
- University of Maine Cooperative Extension
- Coastal Enterprises, Inc.
As you manage your small business, you will need to adopt a record keeping system. Many of the child care professional organizations offer tips and ideas about effective management.
Contact them for more information:
- National Association for the Education of Young Children
- National Association for Family Child Care
- National Association of Child Care Resource and Referral Agencies
- National Child Care Association
- National Child Care Information Center
- National Network for Child Care