Improve Income Tax Progressivity by Establishing New Top Individual Income Tax Rates

Last updated: Feb 19, 2021

Details about this bill
Category: Taxation
Status: In Committee
Sponsor: Representative Laurie Osher, House 123
Session: 130
Bill #: LD 495

Position:

Monitoring.

Summary:

Representative Osher of Orono would increase the tax rate on the current top bracket under the individual income tax from 7.15% to 8.35% and adds a new bracket of 11.15% on taxable income exceeding $100,000 for single individuals and married persons filing separately, $150,000 for heads of household and $200,000 for individuals filing married joint returns or surviving spouses.