Maine is one of the states in the US that charges sales tax on the majority of goods bought and sold there. The state’s 5.5% sales tax rate is quite low when compared to that of certain other states. However, some goods in Maine are exempt from paying sales tax. This article will examine which goods are exempt from taxation in Maine and address any associated queries.
In Maine, the following products are exempt from sales tax:
2. Prescription medications: In Maine, prescription medications are exempt from sales tax.
4. Medical equipment: In Maine, items like wheelchairs and crutches are free from sales tax.
Massachusetts and New Hampshire, states that border Maine, have varying sales tax rates. One of the few states in the union, New Hampshire, does not charge sales tax on the majority of goods. However, there is a 9% tax levied by the state on food, lodging, and car rentals. Contrarily, Massachusetts levies a 6.25% sales tax on the majority of purchases, including food, clothing, and prescription medications. Calculating the state tax due in Maine Knowing the state’s current 5.5% sales tax rate is necessary to determine Maine’s state tax. Simply multiply the entire cost of the item by the applicable sales tax rate to determine the tax due on a purchase. In Maine, for instance, the sales tax on a $100 item would be $5.50. Most affordable state in terms of sales taxes Oregon, which does not levy a sales tax on the majority of items, has the lowest sales tax rate in the US. There are, however, a few local taxes levied by the state on particular goods, such as prepared foods and beverages in some towns and counties. Additionally, there is no statewide sales tax in Montana, although some cities may charge a local sales tax on particular goods.
The following things are exempt from sales tax in Maine: food, prescription medications, apparel, furnishings, and agricultural products. The state’s 5.5% sales tax rate is quite low when compared to that of certain other states. Massachusetts and New Hampshire, states that border Maine, have varying rates of sales tax, with Massachusetts levying a 6.25% sales tax on most purchases while New Hampshire does not. You must know the sales tax rate and multiply it by the item’s total cost in order to get the state tax due in Maine. Last but not least, Oregon and Montana are the two states in the union with the lowest sales tax rates.