Click to Home
Tax Incentives
Resources
Business Equipment Tax Exemption Program
The Business Equipment Tax Exemption (BETE) program eliminates the personal property tax on eligible business equipment that is first subject to assessment on or after April 1, 2007. (BETE has largely replaced the Business Equipment Tax Reimbursement Program and helps businesses avoid paying assessed taxes up front, rather than waiting and filing for a reimbursement, with no time limit to the exemption.) Read more about the Business Equipment Tax Exemption Program.

Employee Tax Increment Financing
For-profit, non-retail, non-utility businesses that add a minimum of five new quality jobs within a two-year period can get a refund of 80% of income taxes withheld for employees for up to 10 years. Read more about Employee Tax Increment Financing.

Historic Preservation Tax Credit
The State of Maine offers a 25% tax credit that can piggyback onto the 20% federal tax credit of certified rehabilitation expenses for a certified historic income-producing property. A 30% tax credit is available for projects where there is at least 50% housing, with at least 50% of that being designated as affordable housing. There is also a small investor program for projects with qualified rehabilitation expenditures of between $50,000 and $250,000 for properties that are not considered historic register-eligible. Read more about the Historic Preservation Tax Credit.

Maine Seed Capital Tax Credit
This tax credit is for for businesses that are a manufacturer, provide goods or services with 60% of sales derived from outside the state or to out-of-state residents, develop or apply advanced technologies, or bring significant permanent capital into the state. The Finance Authority of Maine may authorize state income tax credits to investors for up to 60% of the cash equity they provide. Investments may be used for fixed assets, research, or working capital. Read more about the Maine Seed Capital Tax Credit.

Pine Tree Development Zones
This program is for businesses in targeted industries (biotechnology, aquaculture and marine technology, composite materials technology, environmental technology, advanced technologies for forestry and agriculture, manufacturing (including precision manufacturing), information technology, and financial services). New or expanding Maine businesses, or out-of-state businesses relocating or establishing a presence in Maine, can get a refund of 80% of income taxes withheld for qualified employees for up to 10 years, a refund 100% of corporate income taxes for years one to five and 50% for years six to 10, a 100% sales and use tax exemption for construction materials and equipment purchases, a 100% sales and use tax reimbursement on real property purchases, and reduced rates on electricity delivery. Read more about Pine Tree Development Zones.