“Gov. John Baldacci has signed a measure that will make big changes to the state’s tax code. The bill, reworked at the Governor’s insistence, will lower the top income tax rate, and expand the state’s five percent sales tax to make up the difference. …Under Baldacci’s revision, the top income tax rate would drop to 6.85 percent for those who make more than $250,000 a year, and 6.5 percent for everyone else. The Governor’s version would also eliminate sales taxes proposed for some outdoor recreational activities and keep the real estate transfer tax at the current rate.”
via MPBN.
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