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Wests Federal Taxation 2007 Individual Income Taxes Article
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Is There any Difference with Maine State Income Taxes?
from:No matter what state you live in, you will always be paying taxes. In fact, many people say that they don't mind filing taxes, especially if they are Maine state income taxes! However, no matter what-taxes are taxes!
Many times when people first move to Maine, state income taxes are the least of their worries. In fact, it is usually not until the end of the year that they even think about the taxes. That is when many people tend to worry!
Because Maine state income taxes (along with all other states), is something that has to be done, there is no way around it. Except for if you do not have a job. You will have to file the taxes by the due date. When filing taxes, the most important thing that people will want to know, is what the actual due date is. The Maine state income taxes are due by April 15.
Another important factor that many people should know about the Maine state income taxes are what bracket they are in. It is when people file their taxes that they learn what bracket they are in. In fact, when it comes to Maine state income taxes they are divided into four different brackets; as well as for those that are single and those that are married. The brackets show you which income level you are in, and what percentage of taxes the state is taking. The single people they are:
• 2% for the first $4,450 income
• 4.5% for income between $4,451-$9,100
• 7% for income between $9,101-$18,250
• 8.5% for income 18,251 and above
For married couples they are:
• 2% for the first $9,150 income
• 4.5% for income between $9,151-$18,250
• 7% for income between $18,251-$36,550
• 8% for income $36,551 and above
Another thing that many people will have to know before filing their taxes is which form(s) they will need. However, if they take their taxes to a professional, that is one thing that they will not have to worry about. However, many people do their own taxes to save money. The form that most people end up using is the 1040-ME (which is the long form) or the 1040S-ME (which is the short form). The forms you use will depend on what you do during the year! If you are self employed, you will be using different forms as well as many more forms!
If you are just moving to Maine, the state income taxes are nothing to worry about! In fact, there is really no difference at all except for the amount of taxes taken out!
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