iCalculator™ ME (US)"Informing, Educating, Saving Money and Time in Maine"
US Tax 2024

iCalculator™ US: Maine Tax Calculators

Welcome to iCalculator™ US, your comprehensive suite of free tax calculators for Maine. iCalculator™ has provided free tax calculators for Maine since 2014. Since those early days we have extended our resources for Maine to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. View all tax calculators and tools in the Maine Tax Hub or use the Maine Tax Calculator for 2024 (2025 Tax Return).

Maine Tax Calculator 2024
*** Please enter your income ***
Advanced Maine Salary Calculator 2024
FICA (Federal Insurance Contributions Act):
Itemized Deductions:
Retirement Plan Contributions:
About you:
About your spouse (complete if Married filing Jointly:
Local Taxes and Additional Taxes:
Additional Maine State Tax Deductions and Credits:
Additional Federal Tax Deductions and Credits:
Work Time Settings [for fine tune computation of hourly rates etc.]:
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Maine Tax Calculator 2024/25

The Maine Tax Calculator is for the 2024 tax year which means you can use it for estimating your 2025 tax return in Maine, the calculator allows you to calculate income tax and payroll taxes and deductions in Maine. This includes calculations for

  1. Employees in Maine to calculate their annual salary after tax.
  2. Employers to calculate their cost of employment for their employees in Maine.

The Maine Tax Calculator for 2024 encompasses a comprehensive suite of features to cater to your tax calculation needs. Key features include detailed calculations for Federal Income Tax based on the latest tax tables and allowances, FICA contributions covering both Social Security and Medicare, and automatic calculations for the Earned Income Tax Credit (EITC). Additionally, it allows for the consideration of retirement plan contributions, including 401(k), 403(b), SARSEP, and 457 plans, as well as SIMPLE plans, with specific limits for 2024. The calculator also supports Schedule A (Form 1040) for Federal Itemized Deductions, local tax calculations, and the inclusion of additional taxes or deductions.

For those seeking a deeper understanding and more detailed information on these features, including how they apply to your individual tax situation, it's recommended to view the comprehensive instructional overview here. This additional resource provides extensive insights into each feature, ensuring you can maximize your tax deductions and credits effectively for the 2024 tax year.

Discover Maine, United States

Maine, known for its scenic beauty and maritime history, is the northeasternmost state in the United States. It is part of the New England region and is bordered by New Hampshire to the west, the Canadian provinces of Quebec and New Brunswick to the northwest and northeast respectively, and the Atlantic Ocean to the southeast. Maine's extensive coastline, characterized by rocky outcroppings and iconic lighthouses, plays a significant role in its identity and economy.

Culturally, Maine has a rich heritage that includes influences from its indigenous populations and early European settlers. It is known for its unique New England charm, picturesque small towns, and a strong maritime tradition. The state is also famous for its seafood cuisine, especially lobsters and clams.

The economy of Maine is diverse, with several key sectors contributing to its growth:

  • Tourism: Tourism is a significant industry, driven by Maine's natural landscapes, including its coastline, forests, and mountains that attract visitors for activities like hiking, boating, and skiing.
  • Fishing and Seafood: The state's location along the Atlantic coast makes fishing and seafood industries, particularly lobster and clam harvesting, vital economic activities.
  • Forestry: Maine's vast forested areas contribute to its economy through the forestry industry, including timber production and paper manufacturing.
  • Healthcare and Education: The healthcare and education sectors are also prominent, particularly in urban areas like Portland and Bangor.

In addition to these industries, Maine is involved in manufacturing, agriculture, and technology, contributing to a well-rounded economic landscape.

For more detailed information about the neighboring states and provinces, you can visit their respective pages at New Hampshire, Quebec, and New Brunswick.

Overview of Taxation in Maine, United States

In Maine, as in other parts of the United States, the tax system comprises both federal and state taxes. This overview will concentrate on the state-level taxes in Maine, highlighting their types and compliance requirements.

State Tax Types in Maine

Income Tax: Maine imposes a state income tax on its residents. This tax is structured with a progressive rate system, meaning different rates are applied based on income levels. It encompasses various types of income, including wages, business profits, and investments.

Sales Tax: The state levies a sales tax on the purchase of most goods and services. In addition to the state rate, local jurisdictions in Maine may apply additional sales taxes.

Property Tax: Property taxes in Maine are primarily collected at the local level. These taxes, based on the assessed value of real estate properties, fund local services such as education and infrastructure.

Corporate Tax: Businesses operating in Maine are subject to corporate income tax. This tax is based on the profits of corporations, with different rules and rates depending on the type and size of the business.

Other Taxes: Maine also imposes other types of taxes, including excise taxes on specific goods like gasoline and tobacco, as well as taxes related to certain industries or activities.

Tax Compliance in Maine

Compliance with Maine's tax laws is managed by the Maine Revenue Services. Taxpayers, both individuals and businesses, are required to file tax returns and make payments based on their tax liabilities. The state provides electronic filing and payment options to simplify the process and promote accuracy.

Understanding the tax obligations in Maine is essential for residents and businesses to ensure legal compliance and contribute to the funding of state and local services. Maine's diverse tax structure reflects its commitment to supporting a range of public services and maintaining its infrastructure.