Maine Amends Definition of Sales Price and Exemptions

The Governor of Maine has signed a bill that amends the definition of “sales price” to exclude the price received for labor or services used in installing, applying, or repairing the property sold, as long as the price is separately stated. This will not take effect, however, if the 2009 tax reform legislation is rejected by voters at the June 8, 2010 election. If the change is approved, it will apply retroactively beginning January 1, 2009. Additionally, any amount charged for the disposal of used tires is removed from the definition of “sales price” retroactively, effective January 1, 2009, regardless of the outcome of the election. (L.D. 1540 (H.P. 1084), Laws 2010, effective 90 days from the adjournment of the Second Regular Session and applicable as noted)

Posted on April 19, 2010