AUGUSTA, Maine_ Finance Commissioner Richard Rosen says he has staff reviewing the massive federal tax law passed earlier this month because much of Maine's income tax piggy- backs on federal tax law.
"We are reviewing the bill that just passed, looking at the components of it, trying to calculate what the price tag will be. We have yet to finish that." says Rosen.
Once that is done, Rosen will meet with Governor Paul LePage who will decide which changes he wants lawmakers to consider. Until Maine settles its tax policy, Rosen says Maine Revenue Service officials are advising business owners and professionals who might be affected by changes in tax law to hold off on filing their taxes until the legislature acts.
"Unfortunately we are always put in the posture of scrambling at the end of the year, so we are back there again this year." says Rosen.
But, he says, historically lawmakers have made a tax conformity bill one of the first they consider.
