Maine Revenue Services Updates 2025 Tax Laws: New Credits, Tax Rate Changes

The Maine Revenue Services has published tax legislation updates for the 2025 session, with many provisions effective as of Sept. 24 or later tax years. Key changes include conformity with the federal Internal Revenue Code, a new income tax credit for investments in professional baseball facilities, an expanded municipal volunteer program for property tax assistance, increases to the cigarette and tobacco products tax rates, the repeal of the Service Provider Tax with those services becoming subject to sales tax, the establishment of a cannabis excise tax on cultivation facilities, revisions to the mining excise tax, an additional real estate transfer ...