“I don’t think I’ve ever seen one quite this old,” said the lawyer representing the estate of Edward E. Spaulding Sr., who officials say paid his taxes every year for decades.
taxes
Posted inCommunity News, Local & State, Local Government, News
Franklin County taxes could help pay for flood mitigation costs
Franklin County Emergency Management Agency informed the New Vineyard Select Board that county taxes will be raised to pay for river gages that will help study flood patterns on Sandy River and Carrabassett River.
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Posted inBusiness, Local & State, News
Dairy task force recommends boosting subsidy to preserve Maine farms
A draft report calls for additional taxes on gambling, cannabis or cigarettes to help stabilize funding for the subsidy program that protects Maine’s struggling dairy farms.
Posted inBusiness, Nation & World, News
Taxpayers will get higher standard deductions in 2025, IRS announces
It’s rising to $15,000, up $400 from this year.
Posted inLocal Government, News
Farmington tax rate increases $1.54 per $1,000 in property valuation
The new rate is up $1.54 over last year’s rate of $19.91, with taxes due Nov 26.
Posted inBusiness, Nation & World
Treasury recovers $1.3 billion in unpaid taxes from high-wealth tax dodgers
The IRS credits spending that has ramped up collection enforcement through President Biden’s signature climate, health care and tax package signed into law in 2022.
Posted inBusiness, Local & State, News
Wicked good: How ‘sin taxes’ are contributing to Maine’s healthy budget outlook
Revenue from levies on alcohol, tobacco, marijuana and gambling have risen sharply in the last five years, and now account for $353 million a year – 7% of the state’s $5.1 billion annual budget.
Posted inNation & World, News
Report: Trump may face a $100 million-plus tax bill if he loses IRS audit fight over Chicago tower
A government audit indicates he double-dipped on tax losses tied to a Chicago skyscraper.
Posted inBusiness, Nation & World
Your tax refund could be bigger this year. Here’s what to do with it.
Experts generally advise putting it toward debt and savings, but, for many people, that’s unrealistic.
Posted inLocal & State, Politics
Mills vetoes bill restructuring income tax brackets
The bill aimed to reduce the tax burden for middle-income residents while also raising taxes on the wealthy, but Gov. Janet Mills said it would not provide meaningful relief and could create challenges for state budgeting.