Report: Offshore Tax Dodging Blows a $116 Million Hole in Maine State Budget
Today, the Maine Small Business Coalition, in partnership with the U.S. Public Research Interest Group, released a new report that reveals that Maine loses $58 million in revenue a year due to offshore tax dodging. Many of America's wealthiest individuals and largest corporations use tax loopholes to shift profits made in America to offshore tax havens, where they pay little to no taxes.