Maine Poised to Reveal How Many Corporations Paid No State Tax

Maine will soon engage in an exercise that could shed some light on a revenue problem that has vexed state tax policy makers for years: the steady erosion of the corporate income tax base.

In January 2025, and every two years after that, Maine Revenue Services will have to provide the state Legislature with a corporate tax transparency report to help lawmakers better understand the taxes collected—or not collected—from the largest corporations operating in Maine. Among other things, the report will reveal the number, though not the names, of large, profitable companies operating in Maine that paid zero income taxes. ...