Expands the dependent exemption tax credit in Maine for tax years starting in 2025.

This bill increases the dependent exemption tax credit in Maine for tax years beginning on or after January 1, 2025. It doubles the credit to $600 for each dependent who has not attained a certain age before the close of the taxable year. The credit is reduced based on the filer's status and Maine adjusted gross income. The credit is refundable for tax years beginning on January 1, 2024.

Expands the dependent exemption tax credit in Maine for tax years starting in 2025.

This bill increases the dependent exemption tax credit in Maine for tax years beginning on or after January 1, 2025. It doubles the credit to $600 for each dependent who has not attained a certain age before the close of the taxable year. The credit is reduced based on the filer's status and Maine adjusted gross income. The credit is refundable for tax years beginning on January 1, 2024.