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State and Local Tax

Maine 2023 Individual Income Tax Rate Schedules, Personal Exemption, Standard Deduction Released

by Jennifer J. Troyer

Maine Revenue Services released the individual income tax rate schedules and personal exemption and standard deduction amounts, which are adjusted for inflation, for tax years beginning in 2023. (Individual Income Tax 2023 Rates, Maine Revenue Services, 09/15/2022Maine Tax Alert No. 22, 11/01/2022.)

Single individuals and married persons filing separate returns.

For single individuals and married persons filing separate returns, if the taxable income is: less than $24,500, the tax is 5.8% of Maine taxable income; $24,500 but less than $58,050, the tax is $1,421 plus 6.75% of the excess over $24,500; or $58,050 or more, the tax is $3,686 plus 7.15% of the excess over $58,050.

Unmarried or legally separated individuals who qualify as heads-of-household.

For unmarried or legally separated individuals who qualify as heads-of-household, if the taxable income is: less than $36,750, the tax is 5.8% of Maine taxable income; $36,750 but less than $87,100, the tax is $2,132 plus 6.75% of the excess over $36,750; or $87,100 or more, the tax is $5,531 plus 7.15% of the excess over $87,100.

Married individuals and surviving spouses filing joint returns.

For married individuals and surviving spouses filing joint returns, if the taxable income is: less than $49,050, the tax is 5.8% of Maine taxable income; $49,050 but less than $116,100, the tax is $2,845 plus 6.75% of the excess over $49,050; or $116,100 or more, the tax is $7,371 plus 7.15% of the excess over $116,100.

Personal exemption.

The personal exemption amount is $4,700.

Standard deduction.

The standard deduction amounts are as follows: single-$13,850; married filing jointly-$27,700; head-of-household-$20,800; and married filing separately-$13,850.

Additional amount for age or blindness.

The additional amount for age or blindness is $1,500 if married (whether filing jointly or separately) or a qualified surviving spouse. The additional amount is $3,000 if one spouse is 65 or over and blind; $3,000 if both spouses are 65 or over (if married filing separately, this amount applies only if the taxpayer can claim an exemption for his or her spouse); $6,000 if both spouses are 65 or over and blind (if married filing separately, this amount applies only if the taxpayer can claim an exemption for his or her spouse). The additional amount is $1,850 if the taxpayer is unmarried (single or head-of-household). The additional amount is $3,700 if the individual is both 65 or over and blind.

Inflation adjustment.

The new schedules apply the cost-of-living adjustment factor of 1.166 to the lowest dollar amounts, and the cost-of-living adjustment factor of 1.162 to the highest dollar amounts, in the tax rate tables for tax years beginning in 2023. The Maine personal exemption amount is adjusted by multiplying the cost-of-living adjustment, 1.144, by the dollar amount of the personal exemption specified in Me. Rev. Stat. Ann. Title 36 § 5126-A(1), for the taxpayer and the taxpayer’s spouse, if married. The Maine standard deduction amount is equal to the federal standard deduction amount. These tax rate schedules cannot be used to determine income tax withholding from wages.

 

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