Improve Income Tax Progressivity by Establishing New Top Individual Income Tax Rates
| Category: | Taxation |
|---|---|
| Status: | Defeated |
| 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.