Facts and Figures 2020: How Does Your State Compare?
Our updated 2020 edition of Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
1 min readHow does Maine’s tax code compare? Maine has a graduated state individual income tax, with rates ranging from 5.80 percent to 7.15 percent. Maine has a graduated corporate income tax, with rates ranging from 3.50 percent to 8.93 percent. Maine also has a 5.50 percent state sales tax rate and does not have local sales taxes. Maine has a 0.96 percent effective property tax rate on owner-occupied housing value.
Maine has an estate tax. Maine has a 31.4 cents per gallon gas tax rate and a $2.02 cigarette excise tax rate. The State of Maine collects $6,757 in state and local tax collections per capita. Maine has $6,788 in state and local debt per capita and has an 87 percent funded ratio of public pension plans. Overall, Maine’s tax system ranks 34th on our 2024 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and Maine is no exception. The first step towards understanding Maine’s tax code is knowing the basics. How does Maine collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures 2024: How Does Your State Compare?
Our updated 2020 edition of Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
1 min readThe prospect of a ban on flavored tobacco and nicotine products highlights the complications of contradictory tax and regulatory policy, the instability of excise taxes that go beyond pricing in the cost of externalities, and the public risks of driving consumers into the black market through excessive taxation or regulation.
6 min readFrom remote sales tax collection to taxes on marijuana and vaping products, we recap the top state tax trends from 2019 and break down which ones you should watch for in 2020.
38 min readOur updated 2019 edition of Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
1 min readTaxing the extraction of water does not make sense as an excise tax and does not make sense as a mechanism to finance rural broadband and public education.
4 min readBallot initiatives are often an afterthought on Election Day, but in many states, voters went to the polls to weigh in on significant tax policy questions. Here are the most recent results we’ve compiled for tax-related ballot measures.
5 min readOur 2019 State Business Tax Climate Index compares each state on over 100 variables including corporate, individual, property, and sales taxes. How does your state rank?
17 min readIn the wake of the Tax Cuts and Jobs Act, Maine is considering conformity legislation that would improve the competitiveness of the state’s tax code.
3 min read