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Initial Approval Given to Bill That Could Prevent Companies from Avoiding State Taxes

| April 1, 2014

MAINE

AUGUSTA, Maine (AP) – A new bill that could prevent companies from avoiding paying state taxes has been given initial approval by the House.  The bill adds 38 tax havens to Maine’s tax code and would require those that use them to report their corporate income tax like a Maine business would. The bills sponsor says the move would provide Maine $10 million more in tax revenue over two years and that Montana and Oregon have implemented similar laws. Critics say the measure, which faces further House and Senate votes, will discourage companies from coming to Maine and that it’s an issue that should be dealt with at the federal level.

 

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