50 State Series: How to move your LLC or corporation out of Maine and keep your EIN

Attorney and CPA Chad D. Cummings explains Maine’s tax situation in this presentation. While the state improved to 26th on the Tax Foundation’s 2026 State Tax Competitiveness Index, that gain came largely from statistical changes in other states rather than meaningful tax reform. Maine still maintains one of the highest corporate income tax rates in the country at 8.93 percent, a throwback rule, limited expensing, and is considering a millionaire’s tax that would push the top individual rate to 9.15 percent. These provisions continue to create significant costs for businesses. Florida and Texas impose no state personal income tax and offer far more competitive environments. This presentation shows how redomestication allows Maine business owners to transfer their company to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Maine, the current tax structure may justify making the move. Learn more: https://www.cummings.law/redomestication/