Provide for Fairness in the Taxation of Extraordinary and Unearned Income by Establishing a 3 Percent Surcharge

Last updated: Feb 28, 2021

Details about this bill
Category: Taxation
Status: In Committee
Sponsor: Representative Seth Berry, House 67
Session: 130
Bill #: LD 570

Position:

Opposed.

Summary:

Representative Berry of Bowdoinham would impose an income tax surcharge on the portion of a taxpayer's taxable income that exceeds the lesser of the taxpayer's taxable income from net capital gains and dividends and the amount by which the taxpayer's taxable income exceeds $250,000 for persons filing returns as single individuals or married individuals filing separately, $375,000 for persons filing returns as heads of households or $500,000 for persons filing married joint returns.