The Taxation Committee of the Legislature is holding a series of sub-committee meetings this fall to discuss another effort aimed at reforming Maine's tax system. The sub-committee has invited a number of academics, business people, accountants, economists, lawyers and other "experts" to give perspectives on what tax reform should look like. The major themes being discussed include reducing the top Maine income tax rate, broadening the sales tax base by eliminating exemptions and exclusions, tax simplification, tax fairness, tax volatility and related topics. Pierce Atwood is closely monitoring these discussions. If you have questions, please contact Jon Block or Andrea Maker.
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October 12, 2011
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- To reach Jonathan Block with comments about this blog, please e-mail to jblock@pierceatwood.com
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The sub-committee has invited a number of academics, business people, accountants, economists, lawyers and other "experts" to give perspectives on what tax reform should look like.
Posted by: Steroids for Sale | February 20, 2012 at 09:56 AM
Pierce Atwood is closely monitoring these discussions. If you have questions, please contact Jon Block or Andrea Maker.
Posted by: sustanon | February 20, 2012 at 09:57 AM
They need to look at the way the federal deduction is reduced by the amount of tax paid to Maine. If you owe a large tax bill in the prior year and include this on your federal Schedule A as taxes paid to the state, Maine has you deduct the entire state tax amount on Maine Schedule A. This seems like double taxation as you are once again paying taxes on the amount that you paid them for the prior tax year, and not just the money earned in the current taxable year. Does anyone else feel this is double taxation?
Posted by: Susan | February 20, 2012 at 04:43 PM
This seems like double taxation as you are.
Posted by: Mark KK | February 20, 2012 at 10:13 PM