The Legislature is considering 2 bills that would implement revenue sharing across the state’s recreational cannabis industry.
taxes
Posted inLocal & State, News
Waterville tax lien goes undiscovered for 62 years
“I don’t think I’ve ever seen one quite this old,” said the lawyer representing the estate of Edward E. Spaulding Sr., who officials say paid his taxes every year for decades.
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Posted inLocal & State
Falmouth man pleads guilty to nearly a decade of tax evasion
Jeffrey Riddle failed to pay the IRS hundreds of thousands in taxes, then he bought an island home.
Posted inBusiness, Local & State, News
Dairy task force recommends boosting subsidy to preserve Maine farms
A draft report calls for additional taxes on gambling, cannabis or cigarettes to help stabilize funding for the subsidy program that protects Maine’s struggling dairy farms.
Posted inBusiness, Nation & World, News
Taxpayers will get higher standard deductions in 2025, IRS announces
It’s rising to $15,000, up $400 from this year.
Posted inNation & World, News, Politics
U.S. hostages still owe taxes. Congress might not help.
Congress agrees the law must be changed, but efforts to change it are stuck amid other contentious issues.
Posted inBusiness, Nation & World
Biden administration releases plans for new minimum tax on large companies
The new minimum tax on large companies by the Biden administration aims to raise $250 billion over the next decade.
Posted inBusiness, Nation & World
Treasury recovers $1.3 billion in unpaid taxes from high-wealth tax dodgers
The IRS credits spending that has ramped up collection enforcement through President Biden’s signature climate, health care and tax package signed into law in 2022.
Posted inSouth Portland Sentry
South Portland revaluation prompts outcry
The majority of residents’ property taxes will be going up with the projected revaluation.
Posted inBusiness, Local & State, News
Wicked good: How ‘sin taxes’ are contributing to Maine’s healthy budget outlook
Revenue from levies on alcohol, tobacco, marijuana and gambling have risen sharply in the last five years, and now account for $353 million a year – 7% of the state’s $5.1 billion annual budget.