Section 5124-B - Standard deduction; resident on or after January 1, 2016 but before January 1, 2018For 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. [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; [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 [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. [2015, c. 267, Pt. DD, §14(NEW).] [2015, c. 267, Pt. DD, §14(NEW).]
2.Additional standard deduction. The additional standard deduction is the amount allowed under the Code, Section 63(c)(3). [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; [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 [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. [2017, c. 474, Pt. B, §1(AMD).] [2017, c. 474, Pt. B, §1(AMD).]
Amended by 2018SP2, c. 474,§ B-1, eff. 9/12/2018.Amended by 2017, c. 170,§ D-5 and § D-6, eff. 11/1/2017.Added by 2015, c. 267,§ DD-14, eff. 6/30/2015.