Department of Revenue Portal
Department of Revenue Phone
207-626-8475
Name Reservation Required?
No
Taxpayer Portal
Comprehensive State Guide

General Business Information

MAINE:

When considering whether or not to start a small business, there are several factors to keep in mind while determining where you would start your business. Fit Small Business compiled a 2018 ranking of all 50 states to determine the best states to start a small business, using the following categories:

  • Taxes – This includes corporate, sales, property tax, individual income, and unemployment insurance tax rates. The ranking demonstrates how much you can expect that your business would have to pay in taxes in the state ranked.
  • Labor Market – This category was assessed by including unemployment rates well as education levels (% of adults ages 25 to 34 who have attained at least a bachelor’s degree). This is meant to measure availability of desirable employees and the overall strength of this market in the state ranked.
  • Cost of Living – This includes costs of utilities, grocery, healthcare, housing, and transportation.
  • Quality of Life – This category is based on access to education, physical safety, and healthcare.
  • Cost to Start a Business – Using per capita income in the state ranked, this is meant to evaluate costs to staff your business as well as the per sq. ft/year cost to rent a commercial building.
  • Startup Activity – Meant to illustrate how likely new businesses are to succeed or fail in the state ranked, this represents the # and survivability of new businesses in that state.
  • Access to Capital – This assesses the likelihood of your business attaining startup capital by evaluating the size and # of small business loans granted and by measuring access to capital based on the availability and amount of venture capital funds.

Taking into account these factors, the survey ranked Maine 17th out of the 50 states, with each of the categories above ranked accordingly:

  • Taxes: 28 out of 50
  • Labor Market: 12 out of 50
  • Cost of Living: 39 out of 50
  • Quality of Life: 10 out of 50
  • Cost to Start a business: 13 out of 50
  • Startup Activity: 31 out of 50
  • Access to Capital: 1 out of 50

Maine boasts a low cost of labor and high accessibility to capital, even though its cost of living is on the higher side. Maine produces 90% of the toothpick supply and 99% of the U.S.’s blueberry supply. The Pine Tree State is home to L.L. Bean, Stephen King, and the highest moose population in the country. If lobsters, lighthouses, and tall pine trees excite you, consider starting your new business in Maine!

Maine Department of Revenue
51 Commerce Drive
Augusta, ME 04330
P  207-626-8475

Portal Link

Maine Secretary of State
148 State House Station
Augusta, Maine 04333-0148
P  207-626-8400

Portal Link

Small Business Advocacy
Maine District Office
68 Sewall St. room 512
Augusta, ME 11110
P  207-622-8551

Portal Link

Business Filing Fees

LLC Filing Fee
$175.00
Incorporation Filing Fee
$145.00

Tax Information

Tax Type
Applicable
Rate / Fee
Due Date
Corporate Income Tax
Applicable:
Yes
Applicable:
3.5-8.93%
3/15
Sales Tax
Applicable:
Yes
Rate:
5.50%
Due Date:
15th day of the month following the reporting period
Property Tax
Applicable:
Yes
Rate:
1.09%
Due Date:
Various Apr-May
Unemployment Tax
Applicable:
Yes
Rate:
1.89%
Due Date:
30 days after the end of each calendar quarter
Annual Report Required?*
*(C-Corp & LLC only)
Applicable:
Yes
Rate:
$85.00
Annually by June 1
File Report

Additional Information

New Hire Reporting Required?
Yes
E-Verify Required?
No
Comprehensive State Guide

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