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Tax Incentives
Business Equipment Tax Reimbursement Program (BETR) provides an annual reimbursement of all local taxes paid on qualified business personal property for up to 12 years.
Contact:
Maine Revenue Services
(207) 626-8475
www.state.me.us/revenueEmployment Tax Increment Financing provides qualified businesses that add five or more qualified employees within a two year period with financing equal to 30, 50 or 75% of those employees' Maine income tax withholdings, for a period of up to ten years.
Contact:
Department of Economic and Community Development
(207) 624-9800
www.econdevmaine.comSales Tax Exemptions are allowed on the purchase or certain goods or services through the following programs:
- Biotechnology Sales Tax Exemption for the purchase of machinery, equipment, instruments and supplies used by the purchaser directly and primarily in a biotechnology application.
- Custom Computer Programming Sales Tax Exemption for the purchase of custom computer programming.
- Fuel and Electricity Sales Tax Exemption exempts from sales tax 95% of the sales price of all fuel and electricity purchased for use at a manufacturing facility.
- Manufacturing Sales Tax Exemption for the purchase of qualified machinery and equipment used in the production of tangible personal property as well as the repair and replacement of parts. Material used in production is also exempt.
Contact:
Maine Revenue Services
(207) 287-2336
www.state.me.us/revenue
Business Equipment Tax Reimbursement Program
see also:
Training Incentives
Financing Incentives
Pine Tree Zones
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