Maine’s Tax Reform Law & Nonprofits

On June 8th, Mainers will have the opportunity to vote on a tax reform measure passed by the Maine Legislature.  Question 1, a so-called “People’s Veto”, asks voters if they would like to reject this new tax reform package which was signed into law by Governor Baldacci in 2009.

On May 14th, MANP hosted a webinar titled, “Maine Tax Reform & Charitable Giving”, to help nonprofits understand the impact of the new law should Question 1 fail.  Representative John Piotti, former Tax Committee Chair, current Majority Leader and Executive Director of the Maine Farmland Trust, presented a succinct session outlining the major aspects of the plan with a focus on its potential impact on the nonprofit community in Maine.  You can watch a recording of this webinar here.

Additionally, we offer the following information:

• The New Credit System – a 5 page document explaining how and why the new reform bill shifts from a system of income deductions to a system of tax credits.
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• Maine Revenue Services Tax Reform Webpages – Features links to pages on income & sales tax changes, tax tables and changes to the Circuit Breaker Program.
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• Maine Center for Economic Policy’s analysis of the tax reform package.

Nonprofits interested in voicing their opinion on the June 8th ballot questions should know that it is legal.  Appropriate advocacy amplifies mission impact so we encourage nonprofits to speak out.  For more information about nonprofits and ballot questions, visit the MANP website.

Please vote on Tuesday June 8th and encourage your constituents to do the same!