What should I know about business licenses in Maine?
The Bureau of Economic Analysis notes that Maine's gross state product in 2017 was over $61 billion, a solid 1.5 percent increase over 2016's gross state product. In addition, Maine's per capita income for 2017 was nearly $45,100, which is a 2.2 percent increase over personal income reported in 2016. The primary industries recently fueling Maine's economic growth include the real estate, insurance, rental/leasing, and finance sectors, accounting for 1.2 percent of Maine's actual growth.
Entrepreneurship is so profitable in Maine that Maine's Small Business Coalition recently endorsed the Prosperity Budget in support of the state's economy. This budget delineates a blueprint for investing in communities, infrastructure, health care, and good-paying jobs, all of which promote the ability of small businesses to thrive in Maine.
As news of the Pine Tree state's active encouragement of entrepreneurship spreads across New England, the state's government website portal is seeing significant upticks in business license applications.
If you are interested in starting a business in Maine, you will need to apply for a business license, provide proof of business insurance applicable to your type of business, obtain identification numbers for tax purposes, and find out if your business requires additional county or city licenses.
Maine has the most forest cover of any U.S. state. It is nicknamed the “Pine Tree State” and Maine is also the most rural state in the union with about 90% land being forested.
Maine is home of the Jackson Laboratory, the world’s largest supplier of genetically purebred mice and the world’s largest non-profit mammalian genetic research facility.
Chester Greenwood invented earmuffs in 1873 in Farmington, Maine. He patented the first design of his earmuffs in 1877, eventually ended up setting up a factory for the production of his invention and employed people in Maine for the next 60 years.