Franchise Tax (1120B-ME)

The Maine franchise tax is imposed on banks and financial institutions. The franchise taxpayer can choose between two tax options. Option 1 is a two-part tax consisting of 1% of Maine income and 0.008% of Maine assets. Option 2 is a tax on assets only and is imposed at 0.039% of Maine assets. The tax is imposed on all financial institutions with Maine income, even if the entity is organized as a pass-through organization.

Current Year (2022) Forms
These are forms due in 2023 for income earned and assets owned in 2022.

Other Information

Guidance Documents

Pine Tree Development Zone Credit

Email Questions

Contact Information:

P.O. Box 1060
Augusta, ME 04332-1060

Phone: 207-624-9670
Fax: 207-624-9694

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