On January 25, 2024, ARB Principal John E. Hadwen provided testimony before the Maine Legislature on LD 1891: An Act to Support Maine Businesses Through a Child Care Tax Credit and a Pass-through Entity Tax (PTET). As previously covered by ARB, LD 1891 is a legislative initiative aimed at enhancing economic growth by introducing key measures focused on pass-through entity taxation and child care support. It seeks to provide crucial benefits for the financial well-being of both businesses and families by addressing key aspects of the state’s economic landscape.
The bill has been met with a great deal of support.
Looking Ahead:
A work session on LD 1891 is scheduled for January 31, 2024. John has been asked to once again attend to answer more questions and provide further expertise on this matter.
As discussion and debate over LD 1891 progresses, ARB will continue to provide updates on this important addition to Maine’s efforts to strengthen its economic foundation and promote sustainable growth. For more information, visit https://legislature.maine.gov/. We also invite you to reach out to your local representative to comment on this bill.
John Hadwen, CPA joined ARB in 2021 and is a Principal specializing in providing individuals and businesses with comprehensive tax compliance and consulting services related to closely-held business, manufacturing, construction & real estate, and professional services firm taxation.
