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Maine Paycheck Calculator
Maine has a progressive income tax system with rates ranging from 5.80% to 7.15%. The state has a high standard deduction that helps low—and middle-income Mainers at tax time. No Maine cities charge a local income tax.
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How Does the Maine Paycheck Tax Calculator Work?
In Maine, similar to all other states, a portion of your earnings is subject to withholding for FICA taxes. These taxes are crucial as they contribute towards the Social Security Tax and Medicare systems, enabling you to access their benefits during your retirement. During every pay period, your employer will deduct 6.2% of your earnings from Social Security taxes and 1.45% from Medicare taxes. Additionally, your employer will match this withholding amount. However, if you are self-employed, you must withhold twice as much from each of your paychecks.
Furthermore, you may owe the Additional Medicare Tax, a 0.9% surcharge applied to certain types of income. If your filing status is single, head of household, or qualifying widow(er), any earnings exceeding $200,000 will be subject to this 0.9% surtax without any matching contribution from your employer.
Important Note: The Stubcreator provides a paycheck calculator designed to provide essential guidance. This should not be relied upon to calculate exact taxes, payroll, or other financial data. You should seek a professional accountant regarding any particular requirement.
Maine Paycheck Tax Calculator
If your gross pay is $71,139.00 per year in the state of Maine, your net income will be $52,709 after tax deductions of 25.91% (or $18,429.95). Deductions include a total of 11.83% (or $8,418.68) for the federal income tax, 6.42% (or $4,569.13) for the state income tax, 6.20% (or $4,410.62) for the social security tax and 1.45% (or $1,031.52) for Medicare.
Maine Paystub Generator
Below mentioned are the details of Maine:
- In the event of life-changing circumstances like marriage, divorce, the birth or adoption of a child, and other similar events, employees must ensure that they update their Form IA W-4 to reflect any potential tax implications.
- The personal Income Tax rate is 4.40%-6.0%.
- If an employee fails to complete this form, it will be incumbent upon you to withhold tax as if no exemptions were claimed.
