Maine Does Not Tax Social Security. The Check Can Still Make More of a Retiree’s Pension Taxable.
· finance.yahoo.com
Maine markets itself to retirees with two separate tax breaks, but a quiet coordination rule means claiming one can quietly cannibalize the other, leaving couples like Dave and Linda with a state tax bill they never saw coming.
Quick Read
Maine's $49,824 pension deduction shrinks dollar-for-dollar by Social Security received, so a $30,000 benefit leaves only $19,824 to shelter pension...