Source: http://mainelegislature.org/legis/statutes/36/title36sec5213-A.html
Timestamp: 2020-07-05 08:05:57
Document Index: 447028651

Matched Legal Cases: ['§5213', '§5213', '§5213', '§5214', '§5213', '§19', '§8', '§9', '§10', '§8', '§19', '§19', '§19', '§19', '§11', '§11', '§11', '§11', '§42', '§19', '§4', '§8']

Title 36, §5213-A: Sales tax fairness credit
§5213-A PDF
§5213-A MS-Word
§5214
§5213-A. Sales tax fairness credit
For tax years beginning on or after January 1, 2016, individuals are allowed a credit as computed under this section against the taxes imposed under this Part. [PL 2015, c. 267, Pt. DD, §19 (NEW).]
A. For tax years beginning before January 1, 2018, "base credit" means:
For the purposes of this paragraph, personal exemption does not include a personal exemption for an individual who is incarcerated. [PL 2017, c. 474, Pt. B, §8 (AMD).]
(b) For individuals filing as heads of households, $25 if they can claim the federal child tax credit pursuant to the Code, Section 24 for 2 qualifying children or dependents or $50 if they can claim the credit for more than 2 qualifying children or dependents. [PL 2017, c. 474, Pt. B, §9 (NEW).]
(i) The self-employed health insurance deduction pursuant to the Code, Section 162(l);
(n) The tuition and fees deduction pursuant to the Code, Section 62(a)(18). [PL 2017, c. 474, Pt. B, §10 (AMD).]
[PL 2017, c. 474, Pt. B, §§8-10 (AMD).]
2. Credit for resident taxpayer. A resident individual is allowed a credit equal to the applicable base credit amount, subject to the phase-out provisions under subsection 4.
[PL 2015, c. 267, Pt. DD, §19 (NEW).]
3. Credit for part-year resident taxpayer. A taxpayer who files a return as a part-year resident in accordance with section 5224-A is allowed a credit equal to the applicable base credit amount, subject to the phase-out provisions under subsection 4, multiplied by a ratio, the numerator of which is the individual's income as modified by section 5122 for that portion of the taxable year during which the individual was a resident plus the individual's income from sources within this State, as determined under section 5142, for that portion of the taxable year during which the individual was a nonresident and the denominator of which is the individual's entire income, as modified by section 5122.
4. Phase-out of credit. The credit allowed under this section is phased out as follows.
A. For single individuals, the credit is reduced by $10 for every $500 or portion thereof that exceeds $20,000 of the income. [PL 2015, c. 267, Pt. DD, §19 (NEW).]
B. For unmarried individuals or legally separated individuals who qualify as heads of households, the credit is reduced by $15 for every $750 or portion thereof that exceeds $30,000 of the income. [PL 2015, c. 267, Pt. DD, §19 (NEW).]
C. For individuals filing married joint returns or surviving spouses permitted to file joint returns, the credit is reduced by $20 for every $1,000 or portion thereof that exceeds $40,000 of the income. [PL 2015, c. 267, Pt. DD, §19 (NEW).]
5. Refundability of credit. The tax credit allowed under this section is refundable.
A. Married taxpayers filing separate returns; [PL 2017, c. 474, Pt. B, §11 (AMD).]
B. Individuals who do not qualify as resident individuals because they do not meet the requirements of section 5102, subsection 5, paragraph A; or [PL 2017, c. 474, Pt. B, §11 (AMD).]
C. Individuals who may be claimed as a dependent on another taxpayer's return. [PL 2017, c. 474, Pt. B, §11 (NEW).]
[PL 2017, c. 474, Pt. B, §11 (AMD).]
RR 2015, c. 1, §42 (COR). PL 2015, c. 267, Pt. DD, §19 (NEW). PL 2015, c. 328, §4 (AMD). PL 2017, c. 474, Pt. B, §§8-11 (AMD).