POPULATION: 1,328,302 (2013 Census estimate)
LABOR FORCE: 706,200
RIGHT TO WORK: No
TRADITIONAL INDUSTRIES: Forest products, agriculture, textiles, fishing, tourism
EXPANDING INDUSTRIES: Biotechnology, composite materials, financial services, high-tech electronic manufacturing, marine science technology, information technology, environmental technology
COLLEGE GRADUATES: (Age 25 and over) 27.8% (2010-2012 average)
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 8.93 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: 5.5 percent of the sales price on retail sales of tangible property and certain services (returns to 5 percent as of July 1, 2015)
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)
• 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
