POPULATION: 1,318,301
LABOR FORCE: 704,134
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES:Forest products, agriculture,
textiles, fishing
EXPANDING INDUSTRIES: Biotechnology, composite
materials, financial services,
high-tech electronic manufacturing,
marine science technology,
information technology,
environmental technology
COLLEGE GRADUATES: (Age 25 and over) 25.9% (2007)
BASIC BUSINESS TAXES:
Corporate Income Tax: 3.5 percent
of net income applies to
the first $25,000; 7.93 percent
applies to the next $50,000;
8.33 percent applies to the following
$175,000; and 7.95 per
cent applies to Maine net
income in excess of $250,000
Corporate Filing Fees: $145
minimum filing fee for domestic
corporations; $250 application
fee for foreign corporations
Sales and Use Tax: 5 percent of
the sales price on retail sales of
tangible property and certain
services
Property Tax: Real and personal
property is taxed locally at
varying rates
BUSINESS INCENTIVES:
Department of Economic and
Community Development:
• Employment Tax Increment
Financing (ETIF)
• Maine Quality Centers
• Pine Tree Development
Zones (Enterprise Zones)
• Tax Increment Financing
Maine Revenue Services:
• Business Equipment Tax
Reimbursement Program
(BETR)
• Business Equipment Tax
Exemption Program (BETE)
• Clean Fuel Tax Credit
• Employer-Assisted Day Care
Credit
• Maine Capital Investment
Credit
• High-Technology Investment
Tax Credit
• Jobs and Investment Tax
Credit (JITC)
• Research Expense Credit
• Super R&D Credit
Maine Technology Institute:
• Seed Grant Program
• Development Award Program
• Cluster Initiative Program
• Accelerated
Commercialization Fund
• SBIR/STTR Phase 0 Proposal
Assistance Program
• Maine Technology Asset Fund
Maine Community College
System:
• Maine Quality Centers
(specialized technical training
for workers in new or expanding
business)
Finance Authority
of Maine:
• Secondary market taxable
& tax-exempt bonds
• Major Business Expansion
Bond Program
• Commercial Loan Insurance
Program
• Economic Recovery Loan
Program
• Energy Conservation Loan
Program