Maine Pine Tree Zone Program Expanded to Cover All Areas of the State for a Limited Time

By Jonathan A. Block

If your businesses is starting up, expanding in Maine or relocating to Maine, you should be aware that Maine's Pine Tree Zone program has just been expanded to include all areas of the State for a limited time. Previously, the program was limited to certain specified zones. The program has been expanded in other ways as well. Among the specific changes that were made in the recent legislation:

Until December 31, 2009, ALL areas of the State are Pine Tree Zones and eligible businesses locating anywhere in the State will be entitled to full, 10-year Pine Tree Zone benefits. (Previously, the progam was limited to certain economically challenged areas and was not available in most parts of Cumberland and York counties.)

Beginning January 1, 2010, eligible businesses locating in Cumberland or York Counties will be eligible for Pine Tree Zone benefits, but on a reduced scale (5 years instead of 10 years), except that certain areas of high unemployment within Cumberland and York Counties will continue to be eligible for full 10-year Pine Tree Zone benefits.

In addition, some of the restrictions and limitations in the old Pine Tree Zone program have now been relaxed or eliminated.

Eligible businesses are still limited to manufacturers, certain "targeted technology" businesses, and financial services.

The benefits of a Pine Tree Zone include: Full or partial Maine income tax holiday for up to 10 years; no sales tax on construction materials or purchases of equipment; and more generous employee-tax increment financing benefits.

Our State and Local Tax Group regularly advises clients on Pine Tree Zone applications. Please let us know if you have questions about the Pine Tree Zone program.

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In addition, some of the restrictions and limitations in the old Pine Tree Zone program have now been relaxed or eliminated.

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Eligible businesses are still limited to manufacturers, certain "targeted technology" businesses, and financial services.