Maine minimum tax 2025

Show details

4.8 out of 5

50 votes

The document is a worksheet for calculating the Maine Minimum Tax Credit and its carryforward to 2022, specifically for use with Form 1040ME. It outlines steps to determine the minimum tax credit based on prior year carryforward and current year tax liability, providing instructions for reporting on the tax return.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to rapidly redact Maine minimum tax online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Dochub is the best editor for modifying your documents online. Adhere to this simple guideline edit Maine minimum tax in PDF format online free of charge:

Sign up and sign in. Register for a free account, set a secure password, and go through email verification to start managing your templates.
Upload a document. Click on New Document and select the form importing option: upload Maine minimum tax from your device, the cloud, or a protected link.
Make adjustments to the sample. Utilize the top and left-side panel tools to edit Maine minimum tax. Insert and customize text, pictures, and fillable areas, whiteout unneeded details, highlight the significant ones, and provide comments on your updates.
Get your documentation done. Send the sample to other individuals via email, generate a link for quicker document sharing, export the sample to the cloud, or save it on your device in the current version or with Audit Trail included.

Explore all the benefits of our editor today!

See more maine minimum tax versions

We've got more versions of the maine minimum tax form. Select the right maine minimum tax version from the list and start editing it straight away!

Versions	Form popularity	Fillable & printable
2023	4.3 Satisfied (53 Votes)
2022	4.6 Satisfied (51 Votes)
2021	4.8 Satisfied (50 Votes)
2020	4.3 Satisfied (112 Votes)

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the minimum to not get taxed?

New individual tax rates and thresholds for 202425 Thresholds in 202324 ($)Rates in 202324 (%) 0 18,200 Tax free 18,201 45,000 19 45,001 120,000 32.5 120,001 180,000 371 more row

Where are the cheapest taxes in Maine?

Maine residents seeking low property tax rates might want to consider Hancock County. The countys average effective property tax rate of 0.95% is the lowest in the state. Hancock County also has the longest coastline of any of Maines counties, so homeowners seeking beachfront property should find plenty of options.

What is the current minimum tax?

Considerations under the Finance Act 2020 In a bid to grant similar palliatives to taxpayers, the Federal Government of Nigeria (FGN) via the FA20 introduced a 50% reduction in minimum tax rate from 0.5% of gross turnover less franked investment income to 0.25%.

At what age do you stop paying property tax in Maine?

To be eligible for the program, you must be at least 65 years old or unable to work due to a disability. In addition, all owners must have combined liquid assets of less than $75,000 ($50,000 if a single owner) and combined income of less than $40,000.

Is Maine tax friendly for retirees?

While Maine does not tax Social Security income, other forms of retirement income are taxed at rates as high as 7.15%. It also has above average property taxes, as well as an estate tax. To find a financial advisor who serves your area, try our free online matching tool. Maine is not tax-friendly toward retirees.

What is the minimum amount to be taxed?

If you were under 65 at the end of 2024 If your filing status is:File a tax return if your gross income is: Single $14,600 or more Head of household $21,900 or more Married filing jointly $29,200 or more (both spouses under 65) $30,750 or more (one spouse under 65) Married filing separately $5 or more1 more row Jan 28, 2025

What is the lowest tax rate in Maine?

Maine has a graduated state individual income tax, with rates ranging from 5.80 percent to 7.15 percent. Maine has a graduated corporate income tax, with rates ranging from 3.50 percent to 8.93 percent. Maine also has a 5.50 percent state sales tax rate and does not have local sales taxes.

Is Maine the highest taxed state?

As previously stated, New York has the highest overall tax burden, while Alaska has the lowest. Maine has the highest property tax burden, while Alabama has the lowest. California has the highest individual income tax burden, while seven states (including Texas, Florida, and Washington) have the lowest.

Maine minimum tax 2025

Here's how it works