Pine Tree Development Zones Program (Maine)

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Last modified on February 12, 2015.

EZFeed Policy

Place Maine


   

Name Pine Tree Development Zones Program (Maine)
Policy Category Financial Incentive
Policy Type Corporate Tax Incentive
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy
Active Policy Yes

Implementing Sector State/Province



























Program Administrator Maine Office of Business Development
Primary Website http://www.maine.gov/decd/start-grow/pine-tree/



Last Review 2014-05-30
Last Substantive Modification
to Summary
2014-05-30


Summary

The Pine Tree Development Zones program offers eligible businesses the chance to reduce, and sometimes eliminate, state taxes for up to ten years. There is a statutory requirement of hiring a minimum of one net new qualified employee. Benefits include the elimination of sales and use tax, corporate income tax credits, and 80% employment tax increment financing. Among the eligible businesses are those in environmental technology. Access to reduced electricity rates is also possible. This powerful tax incentive can be used in conjunction with other available benefits, such as federal tax credits.



Policy Contact

Department Department of Administrative and Revenue Services
Division Revenue Services
Address PO Box 9107 Augusta, ME


Zip/Postal Code 04332-9107
Phone 207-624-9693

Fax 207-287-6628
Email sales.tax@maine.gov
Website https://maine.gov/revenue/homepage.html
     
     


















References