Maine Statutes
§ 36 §5124-B — Standard deduction; resident on or after January 1, 2016 but before January 1, 2018
Maine·Title 36 TAXATION·Part 8 INCOME TAXES·Ch. 805 COMPUTATION OF TAXABLE INCOME OF RESIDENT INDIVIDUALS
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.
1.Basic standard deduction.
The basic standard deduction is:
2.Additional standard deduction.
The additional standard deduction is the amount allowed under the Code, Section 63(c)(3).
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:
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Maine § 36 §5124-B (Standard deduction; resident on or after January 1, 2016 but before January 1, 2018) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative 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).