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The Constitution of Maine requires the Governor and the Legislature to submit, enact and approve a balanced budget that achieves each fiscal year a balance between resources and commitments.
Maine's revenue is $5.5 billion. Maine peak revenue was $5.5B in 2022.
Maine's revenue is $5.5 billion. Maine's annual revenue is $5.5B. Zippia's data science team found the following key financial metrics about Maine after extensive research and analysis. Maine has 4,250 employees, and the revenue per employee ratio is $1,294,117. Maine peak revenue was $5.5B in 2022.
Maine Tax Rates, Collections, and Burdens Maine has a graduated individual income tax, with rates ranging from 5.80 percent to 7.15 percent. Maine also has a corporate income tax that ranges from 3.50 percent to 8.93 percent. Maine has a 5.50 percent state sales tax rate and does not levy any local sales taxes.
Taxes represent the largest single source of revenue for state and local governments.
An annual report is required to be filed every year in order to maintain a good standing status. The legal filing deadline is June 1st.