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Business Equipment Tax Reimbursement
The State of Maine provides a Business Equipment Tax Reimbursement program to
stimulate business development and encourage new capital investment in Maine.
This program reimburses businesses for local property taxes paid on most
personal property owned by the business.
- To qualify, the equipment must have been first placed in service after
April 1, 1995.
- Reimbursement can be claimed for up to twelve years.
- Application for the reimbursement must be made after the final payment of
tax but before April 1 of the following year.
- Eligible property includes property used or held exclusively for a
business purpose and subject to an allowance for depreciation
- Business property not qualifying for the reimbursement includes:
- Land
- Buildings
- Fixtures that enhance building use (as opposed to those that enhance
the particular business activity)
- Office furniture, etc placed in service after April 1, 1996
- Land improvements that enhance land use (see note on fixtures above)
- Certain other property
- Before filing for the reimbursement, the taxpayer must notify the local
assessor of his intent
Other conditions and restrictions may apply. Please contact
us for details.
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