To accurately calculate and remit Maine sales tax, businesses should follow these key steps:

1. Determine Tax Rate: Apply the base state rate of 5.5%, adding any applicable local rates (e.g., 1% in Portland).

2. Identify Taxable Goods/Services: Ensure the items or services sold are subject to sales tax; recognize exemptions.

3. Calculate Tax: Multiply the taxable sale amount by the applicable tax rate.

4. Collect Tax: Charge the correct amount of sales tax from customers at the point of sale.

5. Maintain Records: Keep detailed records of all sales, tax collected, and exemptions claimed.

6. File Returns: Submit sales tax returns regularly (monthly, quarterly, or annually) through Maine’s EZ Pay system.

7. Remit Payment: Pay the collected sales tax to Maine Revenue Services by the specified deadlines.

8. Stay Updated: Regularly check for any changes in tax rates or laws to ensure ongoing compliance.

By diligently following these steps, businesses can ensure accurate sales tax calculations and timely remittance, avoiding penalties and maintaining compliance with Maine’s tax regulations.