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2022 4.4 Satisfied (79 Votes)
2021 4.3 Satisfied (94 Votes)
2019 3.9 Satisfied (44 Votes)
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State Capital Gains Tax Rates RankStateRates 20219Wisconsin *7.65%10Hawaii *7.25%11Maine7.15%12South Carolina *7.00%47 more rows
The State Property Tax Deferral Program is a lifeline loan program that can cover the annual property tax bills of Maine people who are ages 65 and older or are permanently disabled and who cannot afford to pay them on their own.
State Capital Gains Tax Rates RankStateRates 20219Wisconsin *7.65%10Hawaii *7.25%11Maine7.15%12South Carolina *7.00%47 more rows
Most homesellers in Maine, like all homesellers across the country, do not need to report the sale of their property. However, if you have capital gains of more than $250,000 or $500,000 as a couple filing a joint return, then the IRS will tax you on some of the gain.
Note: Regardless of residency status, all individuals and entities are subject to Maine income tax on gains realized from the sale of real estate in Maine.
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A request for exemption or reduction in real estate withholding (Form REW-5) should be filed as soon as the seller and buyer have docHubed an agreement to transfer property. Sellers should allow 5 business days for Maine Revenue Services to respond to a Form REW-5 request.
Note: Regardless of residency status, all individuals and entities are subject to Maine income tax on gains realized from the sale of real estate in Maine.
Live in the house for at least two years The two years dont need to be consecutive, but house-flippers should beware. If you sell a house that you didnt live in for at least two years, the gains can be taxable.
Maine Property Tax Deferral Program In 2021, the Maine Legislature reinstated this property tax deferral program to help seniors and the fully disabled stay in their homes and age in place. For qualified and approved applicants, the State of Maine will pay the property taxes each year.
Maine taxes both long- and short-term capital gains at the full income tax rates described in the income tax section above. This means that income from capital gains can face a state rate of up to 7.15% in Maine.

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