On March 18, 2021, Maine Governor Janet Mills announced that the state will extend the deadline for Maine individual income tax payments from April 15, 2021 to May 17, 2021. The governor’s announcement comes one day after the...more
On February 9, 2021, Maine Governor Janet Mills proposed revisions to the supplemental budget that conform to the federal tax treatment of Paycheck Protection Program (PPP) loans for the first $1 million of PPP loan proceeds....more
Maine Governor Janet Mills submitted a supplemental budget, as amended by a change package submitted on January 25, 2021. The supplemental budget is notable for its retroactive conformity to the Internal Revenue Code (IRC) as...more
1/27/2021
/ CARES Act ,
Charitable Deductions ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
GILTI tax ,
Governor Mills ,
Internal Revenue Code (IRC) ,
Loan Forgiveness ,
Net Operating Losses ,
Paycheck Protection Program (PPP) ,
Tax Cuts and Jobs Act
On October 16, 2020, Maine Governor Janet Mills issued a press release addressing several COVID-19-related tax issues, and Maine Revenue Services today issued guidance providing further details....more
10/20/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Corporate Taxes ,
Double Taxation ,
Filing Deadlines ,
Governor Mills ,
Income Taxes ,
State of Emergency ,
State Taxes ,
Tax Credits ,
Withholding Tax