Tax News

CCH (cch.taxgroup.com) reports:

  Gov. John Baldacci released his supplemental budget, which includes technical tax changes involving Maine personal income taxes and property taxes. Under the plan, individuals who experience "unusual events," such as a capital gain of $500,000 or more, would be required to make an estimated tax payment in the quarter after the event. In addition, the supplemental budget would eliminate the planned reduction of the telecommunications personal property tax, which was scheduled to drop from 22 mills to 21 mills in 2009 (the rate would still fall to 20 mills in 2010 as currently scheduled). The governor will present the 2010-2011 biennial budget to the state Legislature on January 9, 2009.

Press Release , Maine Governor John Baldacci, December 16, 2008