Bath Iron Works will have to wait a little longer for the next step in getting a tax credit from Maine.
The state Legislature’s Taxation Committee opted to postpone a decision on a bill that could provide BIW with up to a $60 million tax credit over a 20-year period.
One issue is that the previous tax credit was a state withholding credit from the wages of employees, according to MRS, and the new break would be a tax credit that shows up on Bath Iron Works’s tax return.
Maine Revenue Services staff, the committee and BIW representatives will continue to work on the wording of the bill, which is expected to be ready for a work session next Tuesday. That is when the bill is expected to be reported out of committee.
nstrout@timesrecord.com
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