Title

Economists estimate that the underground economy in Maine amounts to at least 10

Authors

Jeff Clark

Source

Down East

Date

4-1-2005

Pages

19-21, 25-26

Abstract

Economists estimate that the underground economy in Maine amounts to at least 10 percent of the taxable economic activity in the state. Former state economist Charles Colgan speculates that Maine's booming construction industry is a haven for the cash economy. Colgan also believes the cash economy is shrinking as people find that they need to offer credit card services to customers, which requires that they have an official status that is hard to hide from taxing agencies.

Subjects

Informal sector (Economics), Colgan, Charles S

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