Maine Domicile Information
DomicileMaine
Captives3
CapitalizationCapital & Surplus: Minimum capital and surplus: pure: $250,000; industrial insured: $500,000; association: $750,000; risk retention groups: $1,000,000; sponsored: $500,000.

Premiums to Surplus: None
Registration & Incorporation ExpensesFees: $1,000 initial fee; $100 for license; $100 for financial statement; $500 fee for captives that redomesticate to Maine.
Investment Restrictions 
Tax IssuesTaxes: Captives now pay corporate taxes based on the following: Greater than $0, but not over $25,000, then the gross tax is 3.5% of adjusted federal taxable income; greater than $25,000, but not over $75,000, then the gross tax is $875 plus 7.93% of the excess over $25,000; greater than $75,000, but not over $250,000 then the gross tax is $4,840 plus 8.33% of the excess over $75,000; $250,000 or more then the gross tax is $19,418 plus 8.93% of the excess over $250,000.
Applicable ActsLaws: Title 24-A, Chapter 83, Sections 6701-6720, 1997.
Tax Treaties 
Supervisory JurisdictionStuart Turney, Director-Exam
Maine Bureau of Insurance
34 State house Station
Augusta, Maine 04333-0034
207-624-8495; fax: 207-624-8599
stuart.e.turney@maine.gov
Reporting Requirements 
Reserve & Underwriting Requirements 
Local Office Requirements 
Estimated Number of Captives2
Domicile URLhttp://www.maine.gov/pfr/insurance
StatusActive
NewsBecame domicile in 1997