Maine Revised Statutes Title 36 Sec. 5124-B – Standard deduction; resident on or after January 1, 2016 but before January 1, 2018
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For tax years beginning on or after January 1, 2016 but before January 1, 2018, the standard deduction of a resident individual is equal to the sum of the basic standard deduction and any additional standard deduction, subject to the phase-out under subsection 3. [PL 2017, c. 474, Pt. B, §1 (AMD).]
1. Basic standard deduction. The basic standard deduction is:
A. For single individuals and married persons filing separate returns, the basic standard deduction is $11,600; [PL 2015, c. 267, Pt. DD, §14 (NEW).]
B. For individuals filing as heads of household, the basic standard deduction is the amount allowed under paragraph A multiplied by 1.5; and [PL 2015, c. 267, Pt. DD, §14 (NEW).]
C. For individuals filing married joint returns or surviving spouses, the basic standard deduction is the amount allowed under paragraph A multiplied by 2. [PL 2015, c. 267, Pt. DD, §14 (NEW).]
[PL 2015, c. 267, Pt. DD, §14 (NEW).]
Terms Used In Maine Revised Statutes Title 36 Sec. 5124-B
- Code: means the United States Internal Revenue Code of 1986 and amendments to that Code as of December 31, 2022. See Maine Revised Statutes Title 36 Sec. 111
- Maine adjusted gross income: means , for a resident individual, the federal adjusted gross income of that individual, as modified by section 5122. See Maine Revised Statutes Title 36 Sec. 5102
- Resident individual: means an individual:
A. See Maine Revised Statutes Title 36 Sec. 5102Tax: means the total amount required to be paid, withheld and paid over or collected and paid over with respect to estimated or actual tax liability under this Title, any credit or reimbursement allowed or paid pursuant to this Title that is recoverable by the assessor and any amount assessed by the assessor pursuant to this Title, including any interest or penalties provided by law. See Maine Revised Statutes Title 36 Sec. 111 Taxpayer: means any person required to file a return under this Title or to pay, withhold and pay over or collect and pay over any tax imposed by this Title. See Maine Revised Statutes Title 36 Sec. 111
2. Additional standard deduction. The additional standard deduction is the amount allowed under the Code, Section 63(c)(3).
[PL 2015, c. 267, Pt. DD, §14 (NEW).]
3. Phase-out. The total standard deduction of the taxpayer determined in accordance with subsections 1 and 2 must be reduced by an amount equal to the total standard deduction multiplied by the following fraction:
A. For single individuals and married persons filing separate returns, the numerator is the taxpayer’s Maine adjusted gross income less $70,000, except that the numerator may not be less than zero, and the denominator is $75,000. In no case may the fraction contained in this paragraph produce a result that is more than one; [PL 2017, c. 474, Pt. B, §1 (AMD).]
B. For individuals filing as heads of households, the numerator is the taxpayer’s Maine adjusted gross income less $105,000, except that the numerator may not be less than zero, and the denominator is $112,500. In no case may the fraction contained in this paragraph produce a result that is more than one; or [PL 2017, c. 474, Pt. B, §1 (AMD).]
C. For individuals filing married joint returns or surviving spouses, the numerator is the taxpayer’s Maine adjusted gross income less $140,000, except that the numerator may not be less than zero, and the denominator is $150,000. In no case may the fraction contained in this paragraph produce a result that is more than one. [PL 2017, c. 474, Pt. B, §1 (AMD).]
[PL 2017, c. 474, Pt. B, §1 (AMD).]
SECTION HISTORY
PL 2015, c. 267, Pt. DD, §14 (NEW). PL 2017, c. 170, Pt. D, §§5, 6 (AMD). PL 2017, c. 474, Pt. B, §1 (AMD).