Maine

We estimate that by 2032, QSBS will be costing states $1.1 billion a year, and since states must balance their budgets, that’s money they can’t use for public services.

From surcharges on the income of high-earners to higher taxes on second homes, here are recent steps states have taken to tax the rich.

A recap of Maine’s 2026 legislative session covers the state’s new millionaire tax, decoupling of last summer’s regressive federal tax provisions, and the expansion of the property tax fairness credit. Read more.  

States continue to debate whether and how to link their state tax codes to the 2025 federal tax law. This is not just a technical debate.

Yesterday was Tax Day, and with many state legislative sessions wrapping, some tax changes are gearing up or crossing over the finish line.

Policymakers in Maine and Oregon wisely said “no” last week to an income tax break for deep-pocketed tech investors and venture capitalists that was expanded in last year’s federal tax bill.

Maine Gov. Janet Mills on Friday put her seal of approval on a supplemental budget bill that includes a “millionaires’ tax.” The new tax levies a 2 percent income tax surcharge on income over $1 million ($1.5 million for joint filers and heads of households), making Maine’s tax system fairer while raising revenue to support […]

State legislative sessions are wrapping up, and final tax and budget packages are making their way to governors’ desks.

In Washington, Gov. Bob Ferguson and lawmakers decided to stop fooling around with one of the nation’s most upside-down tax codes and finally brought to life a new millionaires’ tax, the first new income tax created in a state since 1991.