LD1505

Maine LD1505 phases out the sales and use tax by reducing the tax rate by 0.5% annually until it reaches 0%.

Maine LD1505 phases out the sales and use tax on tangible personal property, products transferred electronically, and taxable services. The tax rate will decrease by 0.5% annually starting January 1, 2026, until it reaches 0%. The State Tax Assessor must publish the new rates on the bureau's website each year and submit a bill to the Legislature to update the statutory changes. The use tax rates will decrease commensurately since they are based on the sales tax rate.