Taxation in Maine

Updated on Monday 27th August 2018

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If you would like to start a company in USA, it is recommended to solicit information about the tax structure for each business entity before choosing the proper structure. In Maine, there is no franchise and no privilege tax, however, one must observe the corporate income tax imposed in this state. Our company formation agents in USA can offer in-depth information about how you can open a company in Maine and about the taxes enforced in this state.

What is the sales tax rate in Maine?

The general sales tax in Maine is set at a 5.5% rate, but exemptions of this tax are applicable to varied institutions in the American state (schools, hospitals etc.) On the other hand, a sales tax of 10% is imposed for auto rentals in Maine and a rate of 8% on a particular food category.

What is the corporate tax rate in Maine?

A series of different tax rates are applicable to specific incomes of companies registered in Maine, such as traditional corporations or S corporations, as seen in the table below:
Taxable Income Tax Rate
Uo to $25,000  3.5%
Between $25,000 and $75,000 $875+ 7.93% rate for incomes over $25,000
Between $75,000 and $250,000  $4,840 + 8.33% for incomes over $75,000
More than $250,000  $19,418 + 8.93% for incomes over $250,000

Taxation on personal income in Maine

There are three-bracket rates through which the personal income is levied. The following table shows how the incomes are taxed in Maine:
Taxable Income Tax rate
Up to $21,100 5.8%
Between $21,100 and $50,000 6.75%
Over $50,000   7.15%

What is the capital gains tax rate in Maine?

The incomes derived from capital gains in Maine are subject to a tax rate of 7.15%. You should solicit information about how companies are taxed in Maine and we suggest you address to our team of company incorporation specialists in USA. You should also read the general guide to company incorporation in Maine and find out details about how firms can be registered in this state.

We invite you to contact our team of company formation representatives in USA and solicit assistance and information if you are a foreign investor who wants to open a company in USA, including in Maine. We are at your disposal for details about the tax regime in this state.