Sales/Use/Indirect:
Maine: New Law Allows Businesses to Pay Tax on Certain Purchases Over the Use of Rental Rather than Upfront
LD 2214 / HP 1420, signed by gov. 4/22/24; Press Release: Governor Mills Signs Supplemental Budget, Maine Off. of the Governor (4/22/24). Recently enacted legislation attempts to “streamline, simplify, and modernize” certain Maine sales tax provisions and bring Maine into alignment with most other states by eliminating the requirement that Maine sales tax be paid upfront by a business when purchasing certain property (e.g., equipment) to rent out to consumers, instead allowing the tax to be paid over the use of a qualifying rental – “which eliminates the upfront financial burden on these business owners when acquiring rentable equipment.” Please contact us with any questions.
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