Income Tax Credits

For a complete list of all income tax credits, see Form 1040ME, Schedule A (Form 1040ME), Form 1120ME, and Schedule C (Form 1120ME).

• All Tax Credit Worksheets

• Adult Dependent Care Credit

• Child Care Credit

• Maine Earned Income Credit (EIC)

The Maine EIC is available to Maine individual income tax taxpayers who properly claim the federal earned income tax credit on federal Form 1040 or Form 1040-SR or who are otherwise eligible to claim the federal credit except that they filed a federal individual income tax return using an IRS-issued Individual Taxpayer Identification Number (ITIN), or had no qualifying child(ren) during the tax year, and were at least age 18 as of the last day of the tax year.

• Educational Opportunity Tax Credit for Individuals & Employers - For tax years beginning before January 1, 2022.  (Also see the Student Loan Repayment Tax Credit information below.)

• Maine Property Tax Fairness Credit (PTFC)

Individual income tax credit which provides a partial refund of property tax and/or rent paid during the tax year to eligible Maine residents and part-year residents.

• Maine Sales Tax Fairness Credit (STFC)

The Maine Sales Tax Fairness Credit is a refundable income tax credit for eligible Maine residents.

• New Markets Capital Investment Program (offsite)

• Credit for Rehabilitation of Historic Properties (offsite)

• Student Loan Repayment Tax Credit (SLRTC) - For tax years beginning on or after January 1, 2022. (Also see the Educational Opportunity Tax Credit information above.) 

Taxpayer Programs

• Employment Tax Increment Financing ("ETIF") (offsite)

A qualified business may receive a refund of up to 80% of the benefit base for up to 10 years.  The benefit base is generally equal to 4.5% of gross wages paid to qualified employees above the base level of employment under a certified ETIF program.