- Maine has updated their sales tax code for rental equipment effective January 1, 2025
- Businesses can now use an exemption certificate for property purchased for rental
- Lessors can collect tax on lease payments from customers
- Sourcing rules for lease payments clarified to be taxed at the primary property location
- Refund available for businesses that purchased property before the law change and now have to collect tax on lease payments
- Refund period for qualifying leases between January 1, 2023 and January 1, 2025, leased between January 1, 2024 and January 1, 2027
Source: salestaxinstitute.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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