36 §5219-N. Low-income tax credit - Maine Statutes

Title 36: TAXATION

Part 8: INCOME TAXES

Chapter 822: TAX CREDITS

§5219-N. Low-income tax credit

1. Generally. Except as provided in subsection 2, an individual whose Maine taxable income determined as if the individual were a resident individual for the entire year is $2,000 or less is allowed a credit equal to the tax otherwise imposed on that individual by this Part. In no case may this credit reduce the Maine income tax to less than zero.

[ 2003, c. 390, §48 (AMD) .]

2. Exceptions. The following individuals are not eligible for the credit allowed by this section:

A. An individual who is claimed as a dependent on another individual's income tax return; and [1997, c. 557, Pt. E, §1 (NEW); 1997, c. 557, Pt. E, §2 (AFF); 1997, c. 557, Pt. G, §1 (AFF).]

B. An individual who is subject to the state minimum tax imposed by section 5203-C. [2003, c. 673, Pt. JJ, §5 (AMD); 2003, c. 673, Pt. JJ, §6 (AFF).]

[ 2003, c. 673, Pt. JJ, §5 (AMD); 2003, c. 673, Pt. JJ, §6 (AFF) .]

3. Returns not required. Notwithstanding section 5220 or any other provision of law, an individual who is eligible for this credit is not required to file a Maine income tax return.

[ 2003, c. 390, §48 (AMD) .]

SECTION HISTORY

1997, c. 557, §§E2,G1 (AFF). 1997, c. 557, §E1 (NEW). 2003, c. 390, §48 (AMD). 2003, c. 673, §JJ5 (AMD). 2003, c. 673, §JJ6 (AFF).