Bill Would Exempt Some Maine Industries From Petroleum Taxes
AUGUSTA, Maine - A bill intended to assist several Maine industries by exempting the sales tax on petroleum products was touted as the best way to assist the companies that operate on slim margin of profit.
Sen. Paul Davis, a Sangerville Republican, said his bill would help boost natural resources jobs by exempting petroleum products, including fuel and lubricants, from taxes that run the equipment used in Maine's fishing, logging and farming industries.
Davis said those industries need help. "They aren't big shots. They aren't wealthy. They aren't the big corporations," Davis said. "These are little people that we'll be helping if we do this."
Davis said lowering the tax burden for fuel products would allow those businesses to invest more money in other things, such as expansion and job creation.
A work session on the legislation has been scheduled for Jan. 27 in the Taxation Committee.