An Act To Increase Fairness In The Income Tax By Adding Higher Tax Brackets And Tax Rates

LD 1682 (2025) amends Maine's income tax code to create new higher tax brackets and rates for tax years beginning in 2025. It directly affects high-income earners: single filers with income over $300,000, heads of household over $450,000, and married couples filing jointly over $600,000. The bill increases the top tax rate from 7.15% to 10.15% for these income levels, while raising the income thresholds where higher rates apply compared to current brackets. The changes apply to all three filing statuses (single, head of household, married joint returns) and are effective starting January 1, 2025.