What are the different types of taxes in Maine?

Maine has a variety of taxes that individuals and businesses may encounter. One of the primary types is the income tax, which is levied on the earnings of residents and non-residents who earn income within the state. The income tax rates are progressive, meaning that higher income levels are taxed at higher rates. Another significant tax is the sales and use tax, which is applied to most retail sales of tangible personal property, as well as certain services. This tax is typically added to the purchase price during transactions at the point of sale. Property taxes are also an essential source of revenue in Maine. These taxes are assessed on real estate property based on its value, and they help fund local services such as public schools, roads, and emergency services. In addition to these, there are business taxes, which include corporate income tax and various excise taxes on specific goods, such as fuel and certain natural resources. There is also a state inheritance tax applicable to property that passes upon death. Maine also imposes certain license and permit fees on businesses and individuals involved in specific activities, such as fishing or hunting. For a complete and detailed understanding of these taxes, one can look on the current Maine Revenue Services website.