Certain employers that provide long-term care insurance policies for their employees may be entitled to an annual tax credit against Maine business taxes equal to the lesser of:
• 20 percent of the costs incurred in providing the insurance; or
• $100 for each covered employee.
Unused credit may be carried over for up to 15 years (ME Rev. Stat. Tit. 36 Sec. 2525-A).
Note that, except for unused credit that has been carried over as described above, a tax credit is not allowed for tax years beginning on or after January 1, 2016.
Note: An identical credit may apply to an employer's income tax liability (ME Rev. Stat. Tit. 36 Sec. 5217-C). Again, note that, except for unused credit ...